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Welcome to the major leagues of debt. Collateralized debt obligations, almost always referred to as a CDOs, are horrendously
complicated deals that often leave anyone without a MBA wondering what was put into these CDOs.
The first thing to
understand about bonds, (aka debt) is that bonds are often backed by something else. Think about your home mortgage. If you
don't pay your mortgage, the bank can take the house. You end up homeless, and the bank sells the house to pay off the rest
of that mortgage. There is something "backing" that mortgage; something lender can fall back on, if you don't pay your bills
like a good human being. That's called collateral.
CDOs are one flavor of an entire sector of investing called structured
finance, and they are also backed. CDOs, in the simplest concept, are just bonds backed by something else. In most cases,
a CDO is backed by a collection of various types of debt. CDOs can be home mortgages, or other types of debt like credit cards,
auto loans, and personal loans. Most of these types of debt are usually considered a bit more risky and they don't have the
backing that a home loan does. So, if you think it through, you can imagine that CDOs are usually considered a risky investment.
To take a step further, understand that CDOs have multiple flavors within each CDO. These flavors are called tranches. If you've taken French, you might recognize the word, it means "slice" or "portion." Each slice of that CDO you invest in is a little different and carries different amounts of risk.
You could invest in the lowest risk tranche of the CDO, which would
provide you lower risk. But, you don't get a good return on that investment. Or, you can be the heroic adventurer of bonds
and invest in the lowest-grade tranche of the CDO. You'll make an amazing return, but if the economy even looks at you wrong,
you might lose the entire investment.
CDOs aren¿t easy, and are almost always invested in by mutual funds, insurance
companies and hedge funds. As an individual investor, you will probably not come across a CDO you can participate in.
Home / Markets / Industries / Industrials
Friday, May 16, 2008
Atlanta Gold Inc. to terminate U.S. registration and SEC reporting obligations
Comtex
TORONTO, May 16, 2008 (Canada NewsWire via COMTEX News Network) ----Atlanta Gold Inc. (TSX: ATG) announced today that it intends to file a Form 15F with the United States Securities and Exchange Commission (the "SEC") to terminate the registration of its common shares under section 12(g) of the United States Securities Exchange Act of 1934 (the "Exchange Act") and to terminate its reporting obligations under sections 13(a) and 15(d) of the Exchange Act. The Company anticipates filing the Form 15F with the SEC on or about May 16, 2008. Upon the filing of the Form 15F, the Company's reporting obligations under the Exchange Act will be suspended immediately and will terminate after 90 days of the filing, barring any objections from the SEC.
The Company's board of directors decided to terminate the registration to reduce the administrative workload and costs associated with meeting specific SEC reporting requirements required under the Exchange Act, which are in addition to the Company's reporting obligations under Canadian law. This deregistration will not affect the Company's business strategy in the United States nor its commitment to high standards of corporate governance and financial reporting.
The Company's shares will continue to be listed and trade on the Toronto Stock Exchange ("TSX"). As a TSX-listed reporting issuer, the Company will continue to meet its Canadian continuous disclosure obligations through filings with the applicable Canadian securities regulators. Company filings can be viewed on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
About the Company
Atlanta Gold Inc. (TSX: ATG) holds through its 100% owned subsidiary, Atlanta Gold Corporation, a 100% interest in the Atlanta property which comprises 2,081 acres and is located 65 miles east of Boise, in Elmore County, Idaho. A long history of mining makes Atlanta very suitable for the development of new mining projects.
The Company is focused on advancing its core asset, Atlanta, towards mine development and production and on acquiring, exploring and developing other attractive gold projects.
SOURCE: Atlanta Gold Inc.
Bill Baird, President and CEO, Telephone: (416) 777-0013; Fax: (416) 777-0014, E-mail: info@atgoldinc.com
Copyright (C) 2008 CNW Group. All rights reserved.
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