from their 2021 Q3 report, half of their assets are goodwill or intangible, also, they refinanced a chunk of their near mature debt into a long term debt which is convertible at $6 per share, BIG MISTAKE. That thing alone is a huge wall against the share price.

On September 1, 2020, Hamblin Watsa Investment Counsel Ltd., in its capacity as investment manager of Fairfax Financial Holdings Limited ("Fairfax") and another institutional investor invested in the Company through a $365 million private placement of new debentures (the “1.75% Debentures”), which replaced $605 million of debentures issued in a private placement on September 7, 2016 (the “3.75% Debentures”) as described below (collectively, the “Debentures”). Interest on the 1.75% Debentures is payable quarterly in arrears at a rate of 1.75% per annum.

The 1.75% Debentures mature on November 13, 2023 and each $1,000 of 1.75% Debentures is convertible at any time into 166.67 common shares of the Company, for a total of 60.8 million common shares at a price of $6.00 per share for all 1.75% Debentures, subject to adjustments. Covenants associated with the 1.75% Debentures include limitations on the Company’s total indebtedness