Gulfstream International Inc.(fka GIGIQ)

[Renee]

GIGIQ Bankruptcy plan effective. All shares cancelled.

http://www.otcbb.com/asp/dailylist_detail.asp?d=06/18/2014&mkt_ctg=NON-OTCBB

[snidely]

I just bought like 111,111 shares this morning transfer went through

[snidely]

This thing still trading?

[pacman042]

http://www.implu.com/releases/2010/20100908/44797/implu_viewer?f=1

New at reading this stuff, but what do u guys think of this? Form 8-K

[pacman042]

Thx, did u see the news. think this co. will do fine, just hope i can get in early. (no matter what ticker symbol)

[ClarkKant]

My best educated guess is that if they do go public, they will register a new class of commons thus leaving the old commons cancelled. I am assuming that commons are cancelled here thus the grey sheet status.

[ClarkKant]

I have only done light DD but the fact that they are grey sheets leads me to believe they will be delisted.

Nothing that I have seen says commons are intact and this is a private company now. Commons should be in the BK filings....the reorganization terms should state if equities are cancelled or not.

[pacman042]

10000 buy today. So whats the normal (if there is normal)progression from gray to hopefully nastaq.ie do they have to go through pinks or just right back to where they left off. How do we know if they will get rid of commons? Just wondering, and still dreaming here. (maybe found a real stock, lol)

[ClarkKant]

JMO, but the vast majority of NASDAQ or AMX stocks go to OTCC but most of them that I've seen don't go to the lowest level grey sheets.

[pacman042]

y's that?

[ClarkKant]

interesting though that this Q went all the way to grey sheets.

[ClarkKant]

lol, well you can trade....blindly that is.

[pacman042]

So how do we trade it? Think when q comes off it should go up. Havent looked at this in a while, but believe it was in the $30 range.

[ClarkKant]

Your right, I must have had a mental block!

[ChangeDirector]

Maybe it's trading on the greysheets.

[ClarkKant]

Hey can you help me out here, but why no B/A on L2 but yet I see volume?

[ClarkKant]

Why no B/A here but I see volume?

[ClarkKant]

So this basically means that the sale to Victory Capital can proceed now and that the BK should be dismissed if there are no more pending issues/status.

has anyone seen the BK filings here?

[Smalls]

Re:Mschake

Victory Capital just acquired Gulfstream!!!

http://www.miamiherald.com/2011/01/12/2012287/bankruptcy-judge-oks-sale-of-gulfstream.html

[pacman042]

Thx 4 info, but not really sure what it means. teach me. thx

[SARAGO]

By Katy Stech
Of DOW JONES DAILY BANKRUPTCY REVIEW


A lender that had challenged Gulfstream International Group Inc.'s (GIGIQ)
bankruptcy sale has struck a deal with the Florida airline operator and its
unsecured creditors, allowing the approximately $30 million deal to move
forward.

The proposed settlement between the groups puts $175,000 of Gulfstream's
estate toward SAH-VUL Strategic Partners I LLC, or SVSP, which agreed to lend
Gulfstream $1.5 million just a few weeks before it filed for Chapter 11
bankruptcy protection in November.

SVSP officials had raised concerns that the bankruptcy auction wasn't
competitive and later challenged the sale's approval, delaying the final
transaction.

But SVSP's own claim faced uncertainty after unsecured creditors threatened
to challenge lenders that had secured claims against Gulfstream.

"Simply put, [SVSP seeks] finality and to 'buy peace' from contribution and
other claims that may be asserted based on the same facts and transactions,"
the groups involved with the settlement said Tuesday in papers filed with the
U.S. Bankruptcy Court in Fort Lauderdale, Fla.

Gulfstream International Group, the publicly traded parent company of
Gulfstream International Airlines, filed for bankruptcy on Nov. 4 in need of
cash and a balance sheet overhaul. The company operates a fleet of 19-passenger
propeller planes, offering flights that generally connect smaller towns to
larger airports.

The company held an auction for its assets in early January. A Florida judge
approved the auction's winning bid--a roughly $30 million offer from Victory
Park Capital Advisors--but noted that the dispute with SVSP officials remained
unsettled.

The proposed settlement gives SVSP a portion of its own claim, which amounts
to nearly $1.6 million by its own estimate. That money stems from a September
loan agreement that was secured by Gulfstream "personal and fixture property of
every kind and nature."

But SVSP's secured claim was at risk of being downgraded. Representatives
behind Gulfstream's committee of unsecured creditors said at the company's
January sale hearing that they intended to challenge the liens and standing of
existing noteholders.

SVSP stood to recover far less money if the claim was put in a pool with
other unsecured creditors.

In Tuesday's court filings, the groups encouraged the court to approve the
settlement, saying it was the easiest way to settle a dispute among groups who
each felt they had winning arguments.

"Regardless of who ultimately prevails in the [sale order appeal], both
disputes involve complex legal and factual issues in a case that requires
expeditious resolution so that the sale may be consummated, the [company's]
operations preserved, along with nearly 600 jobs, and creditors paid," they
said in court filings.

(Dow Jones Daily Bankruptcy Review covers news about distressed companies and
those under bankruptcy protection.)

-Katy Stech, Dow Jones Daily Bankruptcy Review; 202-862-1344;
[e-mail]


Click here to go to Dow Jones NewsPlus, a web front page of today's most
important business and market news, analysis and commentary:
http://www.djnewsplus.com/nae/al?rnd=cGntX%2BtzcslCSQlCrJ36%2Fg%3D%3D. You can
use this link on the day this article is published and the following day.


(END) Dow Jones Newswires

03-23-11 1246ET

Copyright (c) 2011 Dow Jones & Company, Inc.

12:46 032311

[pacman042]

SARAGO said he traded it or flipped it, I haven't. To scared, but it's up to u. I'm just watching it and waiting to see what happens after delisting.

[valleyview]

hi pacman, whats the go here, can i buy this stock and is it possble to sell in a month or later. Is there concerns here as it was suppose to have been de-listed ..correct or wrong ??

Thanks for any info.
cheers

[pacman042]

K, thx for the heads up.

[pacman042]

K, thx for the heads up.

[SARAGO]

sorry didn't saw ur message..yes i traded it...bought at 2 sold at 4..

[pacman042]

not stalking u! lol What about the delisting

[pacman042]

so you've bought and sold shares?

[SARAGO]

we won't get 0.0001s anyway..i tried i never get....we can and sell this one...onlything it is not yet fully trading..once it starts..we can see nice movement...the company need to update the shareholders..

[pacman042]

did u guys buy any?

[pacman042]

i'm a noob and been watching this, but thought they were delisting. so why is the PPS going up, and would u even b able to sell if u wanted to. Was going to buy at .0001 and thought i wouldnt b able to sell so i didnt.

[SARAGO]

nice vol today

[pacman042]

11/05 gulstream rec. Delisting notice

[pacman042]

Not sure what this means either. Scott. Broker said they are gray market is Canadian and there is no bid. My guess is they will get rid of common shares and change ticker. If u think otherwise, would love to hear it. Still new and still a dreamer. Lol

[Icanslim]

I'm surprised Gulfstream didn't start on the Pinksheets as most bankrupt publicly traded companies. Unreal.

[pacman042]

Just called Scott. Ask is .02 and NO bid. Stock sitting at .001 at this time. Didn't buy, to scared. He said mm may be buying shares..?

[pacman042]

Got it on my scottrade steaming quates. Heard gray mkt worst than pinks. I haven't bought any shares at this time.

[Icanslim]

where did you get that quote? I do not see it in my Ameritrade quotations nor in my Zecco quotations screen. did you call your broker for a Greysheet quote?

[pacman042]

ask and bid at 1.00

[pacman042]

Thx, i take a look at that. I'll let u know if i decide ton try it out, but I doubt it.

[Icanslim]

hello pacman42,

Gulfstream is actually trading on the GREY MARKETS and not the Pinksheets. There is no bid or ask price displayed. you will have to contact your broker. I've not traded Grey's before. far too risky when you can't see the bid/ask price.
http://www.otcmarkets.com/stock/GIGIQ/quote

[pacman042]

I'm a noob, r we allowed to trade this and would we be able to sell if we did, due to vol.

[pacman042]

at .0001 now. Trying to find out if their stock ticker changed or what happened. Hopefully they dont disapear from stock market. Might try and call them on Mon.

[Icanslim]

thanks pacman. new symbol GIGIQ, last price $0.005 BUT no Bid or Ask price.

[pacman042]

Scottrade says its in pink otc markets

[SARAGO]

thanks...

[Icanslim]

None at all, Sarago. I wish I knew.

[SARAGO]

any updates on this....when it is going to trade ??????????????????????/

[Icanslim]

I'm surprised Gulfstream is not on the pinks. hmmmm...

[Icanslim]

agreed