Sunterra Corp.

[Stock]

This company was acquired 05/03/2007 for $16 per share. The stock was deleted.

SECURITY DELETIONS

Dl Date Symbol Company Name Effective Date/Comments

5/2/2007 SNRR Sunterra Corporation Common Stock 5/3/2007 Acquisition ($16.00/sh) **

[skeptic0]

Lawsuit today says it all:

net income was grossly inflated
projections for fiscal 2006 were grossly inflated

http://www.knobias.com/individual/public/news.htm?eid=3.1.adde619abebf6f454f7b2bc5fc5d2e334414461363...

The Complaint alleges that defendants violated federal securities laws by issuing a series of materially false statements regarding the Company's growth. Specifically, defendants concealed the following: (i) Sunterra's reported expenses were materially understated; (ii) the Company's "record" financial results were the result of defendants' accounting manipulations; (iii) Sunterra's reported net income was grossly inflated; and (iv) as a result, Sunterra's projections for fiscal 2006 were grossly inflated and Sunterra was in technical default on its subordinated note agreement

[skeptic0]

Is anybody left in this?

[skeptic0]

Let the Lawsuits Begin


http://www.knobias.com/individual/public/news.htm?eid=3.1.166afa93972616810bba879c8471e4c8993e27851a...
SNRR: Rosen Law Firm Reports Investigation of Securities
Claims vs Company

Tuesday , July 11, 2006 12:26 ET

The Rosen Law Firm announced that it has commenced an investigation into allegations that Sunterra Corporation (SNRR) violated the federal securities laws by issuing materially false and misleading financial results for the fiscal years ended December 31, 2002 to September 30, 2005 and the first quarter ended December 31, 2005.


Public Companies Associated with this story:
(OTC: SNRR)

[skeptic0]

Sunterra Corporation Announces Changes to Senior Management

http://biz.yahoo.com/bw/060710/20060710005847.html?.v=1
Sunterra Corporation Announces Changes to Senior Management
Monday July 10, 1:36 pm ET
James A. Weissenborn and C. Alan Bentley of Michigan-Based Mackinac Partners Named Interim President/C.E.O. of Sunterra Corporation and Interim C.O.O. Sunterra Europe


BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--July 10, 2006--Sunterra Corporation (OTC:SNRR.PK - News), one of the world's largest vacation ownership companies, has appointed an interim financial management team with experience in corporate restructuring and financial turnaround. The company, which was delisted from the NASDAQ because of delayed financial statements and is subject to allegations of improper financial reporting, named James A. Weissenborn as its Interim President and Chief Executive Officer, effective June 22.


-----------------------------------------------------

go to link to read more.

[skeptic0]

Hartland used to own HEARTLAND ADVIS... 1,255,000
Last Sec filing shows only 6,000

http://www.nasdaq.com/asp/Holdings.asp?mode=&kind=&timeframe=&intraday=&charttype=&a...

Top 5 Holders Shares Held
AXA 1,639,980

HOTCHKIS & WILE... 1,445,788

PENN CAPITAL MA... 1,292,215

HEARTLAND ADVIS... 1,255,000

DDJ CAPITAL MAN... 1,194,737

[skeptic0]

Heartland Advisor
07/10/2006 (09:53 ET) SNRR: Filed New Form SC 13G/A, Beneficial Ownership Disclosure
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=4266526

[skeptic0]

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20060707:MTFH81631_2....

It looks like Chapman made some bad investments. VTSS is also one of the Hedge Fund's owning(s).

Within the article it is requesting the same from VTSS. I don't know when the filings for SNRR will be done. I believe one of the recent SEC filings said Mid July. (I'll look at over the weekend).

"Chapman Capital demands that Vitesse, following financial restatement and rescission of all improperly granted stock options, conclude a full scale auction of the company," the Los Angeles-based activist hedge fund said in a press release accompanying an SEC regulatory filing

Thanks for suggestion on covering. I put a GTC order in this morning. I will monitor closely, esp. volume. Have a Great Weekend!

[coinstarz]

If SNRR trading volume is over 1M again and PPS is around 10+/-, then cover and wait to re-entry. I believe Chapman and CD owns 20% of O/S so far. They are buying from 7-10, and sell company for 14. I guess a finical group (hedge funds) will buyout SNRR for 11-12 and take it to private, then re-IPO again. Watch it closely and be ready to make a move. GLTY.

[skeptic0]

Thanks for your input.

I did not realize that they also have an employee lawsuit and failure to pay taxes litigation going on. These are just more red flags.

5/4/2006 10:29 AM JMP Securities Market Outperform Strong Buy Cuts price target to $16 from $18; cites concerns over unpaid taxes
4/11/2006 2:57 PM Sidoti & Co. Neutral Buy Cuts price target to $14 from $20; cites uncertainty regarding allegations by former employee


This thing will tank next week after executives look at their stocks over the weekend. IMO.


Strong SELL

[coinstarz]

Good news and bad news.

Good news: SNRR is no longer required to file all those damm SEC papers. What a relief! They can print shares as many as they want and sell to Chapman and CD without telling anyone. They are located in Las Vegas. It's very convenience.

Bad news: It is in pinksheet MM's hands. They will take it to a dumpster and naked short it to the ground.

[coinstarz]

According to Yahoo, SNRR book value is 9.79+/-. Inst owns 105% of OS. Short covering is main reason to sustain the price. Also, the bid and ask spread is wide. SNRR has higher debt and negative earning. It went BK and came back with wall street money and get delisted again. They have 3 months to file Q report and comply with NASDAQ/SEC rules but they choose not to do so, why? I believe there would be criminal charge against former CEO/CFO/COO. Remember Enron? The book is cooked.

Class action lawsuit is in process. I called a class-action lawyer pretending I'm a shareholder. They send me a form to fill out.

Upside Risk: 11

Downside Reward: 6

It colud open up a few cents and then collapses. No one would buy a company with cooked book and SEC investigation. Timeshare business is a tough business and hard to make money in recent years.

[skeptic0]

Coinstarz,

Can you explain why this went up today on a delisting notification? What do you expect it to open up on the Pink Sheets at?

[coinstarz]

Activist Track: Sunterra Blistered

http://www.thestreet.com/_yahoo/markets/activetraderupdate/10295368.html?cm_ven=YAHOO&cm_cat....

Interesting story. He didn't metion delisting in the article?

[coinstarz]

Delisting and class action lawsuit and SEC investigation will halt the sale of the company. Insts have to sell now. Make a move before OTC.

Strong Sell!

[skeptic0]

Nasdaq Denies Stay - SELL

http://www.knobias.com/individual/public/news.htm?eid=3.1.833983d55cf4cbf6361c8e6a5618b2a5c056035c20...

SNRR: Nasdaq Denies Request for Continued Listing; Informal SEC Probe

Thursday , July 06, 2006 07:58 ET

Sunterra Corporation (SNRR) announced that the Company received a letter from The Nasdaq Stock Market, informing the Company that the Nasdaq Listing Qualifications Panel has determined to deny the Company's request for continued inclusion on The Nasdaq National Market. The Company was also advised by the staff of the Division of Enforcement of the SEC that it is conducting an informal inquiry with respect to recent events regarding the Company.


Public Companies Associated with this story:
(NASDAQ NM: SNRR)

[coinstarz]

Getting ready !

http://finance.yahoo.com/q/ud?s=SNRR

• Sunterra upgraded by Ferris Baker Watts
Briefing.com (Thu 8:26am)
• UPDATE - Hedge fund seeks sale of Sunterra Corp.
at Reuters (Wed 5:24pm)

Warming uppppp!

[coinstarz]

http://yahoo.businessweek.com/investor/content/jun2006/pi20060623_395855.htm

Sunterra has huge debt. This is a company that has bankrupt history. I think downside potential is greater than upside potential. Insts hold all O/S and they have to dump it if there is SEC investigation. Both CEO and CFO quit and accounting firm quitted several months ago. I am ready to make a move with hedge fund.

I will look up NYNY. Thanks.

[RonnieD]

nice area. thanks.
are you going to short this ? what's your assessment of true value ?
btw take a look at NYNY.

[coinstarz]

Close to Stauto, Virginia, along I-81.

[RonnieD]

where's that picture you posted taken from ?

[coinstarz]

Sunterra CEO Put on Leave, Stock Down

http://biz.yahoo.com/ap/060623/sunterra_accounting.html?.v=1

Watch this stock. It is a potential short candidate.