Wet Seal Inc.(fka WTSLQ)

[DBS]

Last one out please shut the door...

Teen retailer Wet Seal is suddenly closing all of its stores


http://www.msn.com/en-us/money/companies/teen-retailer-wet-seal-is-suddenly-closing-all-of-its-stores/ar-AAmhE03?OCID=ansmsnnews11

[bar1080]

Day before cancellation a player posts: "Contemplating buying more to see if we get at least one last pop to 6." Some of these numbskulls think everything's a trick, I guess.... An MM bluff, perhaps. A headfake.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113204206

[1manband]

That is a good example that dealing with bankrupt companies is massively risky regardless of what people think the circumstances are. In Wet Seal's case, they warned over and over in their SEC filings the stock was going to be cancelled without payment to common shareholders, and even gave the specific date (December 31st). There was absolutely no reason why any common shareholder should have been holding anywhere near that date.

[bar1080]

Here's a major BK where shareholders got 30 minutes of warning.Perfect example of why i think that shareholders in deeply troubled firms should dump early.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113260992

[bar1080]

Another thing that trips up some IHUB types is they're used to seeing their garbage smoothly decline from dollars to pennies to sub-pennies and to triple zips where it sometimes lingers for years.

But BK cancellation can occur at any price. Eastman Kodak's final trade was around 4 cents as I recall. RadioShack cancelled around that price too.

The final trading day is always a hoot!

[bar1080]

I modded the IHUB RadioShack board from the time it dropped below a buck until cancellation about a year later. I've posted on many other BKs over the years. With very few exceptions BKs are losers tho some claim to make money in them (mostly liars, when you study their posting history).

The most interesting thing I've witnessed was Eastman Kodak's final day a few years ago. Renee (I believe) had even posted a bold red warning containing the cancellation date.

Then, just before trading ended on the final afternoon, a poster I vaguely knew bought some shares. The next day he showed up and asked why EK wasn't trading. I think he lost about $1,000 overnight!

Much later, on another board, I asked him about his bizarre EK purchase. He explained that he was going solely by his chart and spotted an uptick... no doubt a last second short-cover, and pulled the buy trigger.

He wasn't an American; I think he knew little English. A few months later he disappeared from IHUB.

[1manband]

It continues to confound me that there are so many people (they are not investors) who will buy a stock either without reading, or simply ignoring, the SEC filings and the facts contained within. The facts any investor needs to determine if a stock is a worth investment are all in there. Even for technical and chart investors. Anyone who bothered to spend 10 seconds on Wet Seal's SEC filings would have seen the stock was being cancelled on December 31st and would be immediately declared worthless. There is absolutely no excuse for anyone still holding shares in this company post-cancelation.

[bar1080]

Then there are the idiot chart players who buy in right before cancellation only because "the chart looks good!" Yep, the final trade can be an uptick.

[1manband]

Your spot on I'll let you know the outcome in February

You don't have to wait until February. You can now say that I was right all along. The stock is now cancelled and worthless.

Anyone still holding the common stock now has some very expensive wallpaper.

Those who fail to read SEC filings, or listen to people who don't read SEC filings, are doomed to lose all their money.

[Renee]

WTSLQ: bankruptcy PLAN effective. All shares cancelled.

http://otce.finra.org/DLDeletions

[1manband]

Today is the final day of trading. All shares have been cancelled and FINRA is wiping out the symbol after the close.

http://otce.finra.org/DailyList

It should have been done on Thursday, but FINRA can be a little slow in these matters.

[98040]

Went to Westfiled in Tukwila and stores looking good....

[1manband]

It shouldn't be news to anyone, since WTSLQ has made it clear over and over in their SEC filings, which are even made available at the top of the Board. But, some people either choose to ignore the facts in the SEC filings, or don't read them at all. I assume those are the people that have been buying the stock, even after today's proof that the common shares were cancelled and the Company dissolved.

[BingBing90]

Thanks for keeping this board informed bud. Very interesting

[1manband]

The stock is now cancelled and the Company no longer exists.

"The Plan became effective on December 31, 2015 (the “Effective Date”). A copy of the Notice of Effective Date of First Amended Joint Plan of Liquidation of Seal123, Inc. and Subsidiary Debtors and Their Official Committee of Unsecured Creditors is filed as Exhibit 99.1 hereto and is incorporated herein by reference.

On the Effective Date, as a result of the effectiveness of the Plan, all of the Company’s existing equity securities, including its existing common stock, were cancelled and the Company filed a Certificate of Dissolution with the Secretary of State of the State of Delaware to formally extinguish the Company’s corporate existence with the State of Delaware except for the limited purpose of completing the wind-down contemplated by the Plan. The Company further has undertaken to file a Certification and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission (the “SEC”) to terminate the registration of its securities under Section 12(g) of Securities Exchange Act of 1934, as amended (the “1934 Act”). As a result, the Company will immediately cease filing any further periodic reports under the 1934 Act."

http://www.sec.gov/Archives/edgar/data/863456/000119312515418415/d112929d8k.htm

[bsn84]

Thank you very much. RIP WTSLQ :(

[1manband]

Short covering, most likely. In theory, one would think a shorter would just ride the stock through the cancellation date and make a guaranteed 100% return. But in practice, it doesn't work that way.

Any shorter has to borrow the stock from someone who is long. That gets extremely difficult when a company has been delisted from the Exchange. Most of the previously available shares were lent by institutional holders, but they absolutely know how to read SEC filings and know the stock is going to be cancelled. Most of them have already sold their entire long positions and salvaged whatever money they can get. In those cases, the person who borrowed the stock from the holder who is selling has to either find a new lender or cover their position in order to give the stock back to the original lender. That is almost certainly what is happening now.

There is also the problem of maintenance fees. Borrowing stock to sell short is not free. Very liquid stock has a low fee, while illiquid stock, like WTSLQ, has very high fees. The fees vary by day, and with the stock being cancelled next week, anyone still long is almost certainly demanding massive fees to lend. It likely makes more sense to close any short position now, especially since the tax situation can be complicated by the cancellation on the last day of the year.

And then there is the case of those people who either don't bother to read the SEC filings, or choose to ignore them. And those that listen to such people. They might be buying somehow thinking the stock is cheap and will rebound. It isn't, and won't.

[bsn84]

Why still green? 0.08 :)

[1manband]

The stock will be dead in a week. All shares will be cancelled as of December 31st.

"all previously issued Common Stock of the Company will be discharged, cancelled, released and extinguished as of the December 31, 2015 effective date of the Plan (the “Effective Date”)."

http://www.sec.gov/Archives/edgar/data/863456/000119312515412890/d111522ds8pos.htm

The common stock will be worthless - just very expensive wallpaper.

[bsn84]

What will happen on 31 december ?

[bsn84]

1$$$ ???

[MattyTrader]

Lots of action lately

[bsn84]

Wowwww whatsa happening. Guyss ??

[98040]

Your spot on I'll let you know the outcome in February ;)

[1manband]

Anyone with "skin in the game" is going to lose it. The common stock is definitely being cancelled with no payment. It is worthless. The Bankruptcy Court has already confirmed the plan. It is a done deal.

http://www.sec.gov/Archives/edgar/data/863456/000119312515365480/0001193125-15-365480-index.htm

"On the effective date of the Plan, among other things, (i) all of the Company’s existing equity securities, including its existing common stock, will be cancelled (with no payments being made in respect thereof) and the Company will be dissolved automatically pursuant to the terms of the Plan"

Those who fail to read SEC filings, or listen to people who don't read SEC filings, are doomed to lose all their money.

[1manband]

WE DO KNOW what will happen. The common stock will be cancelled without ANY payment to common shareholders.

Read the current 8-K. The Bankruptcy Court has affirmed the plan, and the common stock will be cancelled around December 31st.

http://www.sec.gov/Archives/edgar/data/863456/000119312515365480/0001193125-15-365480-index.htm

You should believe Bankruptcy Court when they tell you the common stock is worthless. Read the SEC filings. They contain vital information that investors require to make investing decisions. And in this case, it should instantly tell the reader the stock has no value.

[98040]

Who know's what will happen hopefully a happy ending.....will find out soon....

[1manband]

We KNOW what will happen. The common stock will be cancelled without payment to common shareholders. The common stock is worthless. This should be clear - the recent 8-K confirms it:

Item 1.03. Bankruptcy or Receivership.

As previously disclosed in a Current Report on Form 8-K filed by Seal123, Inc. (formerly known as The Wet Seal, Inc.) (the “Company”) on January 16, 2015 and in subsequent Current Reports on Form 8-K filed by the Company thereafter, on January 15, 2015, the Company and its three subsidiaries (collectively with the Company, the “Debtors”) filed voluntary petitions in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) seeking relief under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”). The Chapter 11 cases are being administered under the caption “In re Seal123, Inc., et al.”, Case Nos. 15-10081-10084.

On October 30, 2015, the Bankruptcy Court entered an order (the “Confirmation Order”), attached hereto as Exhibit 99.1, confirming the First Amended Joint Plan of Liquidation of Seal123, Inc. and Subsidiary Debtors and Their Official Committee of Unsecured Creditors (the “Plan”), which was filed with the Bankruptcy Court on September 8, 2015. A copy of the confirmed Plan is attached as Exhibit A to the Confirmation Order. The Plan is presently anticipated to become effective on or around December 31, 2015.

Summary of the Material Features of the Plan

The following is a summary of the material features of the Plan. This summary highlights only certain substantive provisions of the Plan and is not intended to be a complete description of the Plan. This summary is qualified in its entirety by reference to the full text of the Confirmation Order and the Plan, which are attached hereto as Exhibit 99.1 and incorporated by reference herein.

On the effective date of the Plan, among other things, (i) all of the Company’s existing equity securities, including its existing common stock, will be cancelled (with no payments being made in respect thereof) and the Company will be dissolved automatically pursuant to the terms of the Plan, (ii) the Company will file a Certificate of Dissolution with the Secretary of State of the State of Delaware to formally extinguish the Company’s corporate existence with the State of Delaware, and (iii) the Company will file a Certification and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission to terminate the registration of its securities under Section 12(g) of Securities Exchange Act of 1934, as amended.

http://www.sec.gov/Archives/edgar/data/863456/000119312515365480/d39168d8k.htm

[98040]

Who know's what will happen hopefully a happy ending.....will find out soon....

[GJR]

The last SEC filing on Nov. 4, 2015 said that ALL common stock will be cancelled. Not looking good unless I am missing something. If I am please share!

[98040]

If all said and done will need to wait till 2-16-2016 hoping that longs will be rewarded who knows what will happen!!!!!

[98040]

Hopefully something good soon on or after the 18th!!!!

[98040]

Today is the day we make it or break it!!!....good luck to the long and strong!!!!

[CER3]

Lots of 10k buys...

[MattyTrader]

Yeah... Hmmm

[CER3]

Some loading in process....

[98040]

Correction on the 19th or 30th I think l'll be getting some lollipops will see :)

[98040]

Who know's what will happen hopefully a happy ending.....will find out soon....

[GJR]

This is taken from the filing on October 7, 2015. It appears as if they want to have the courts declare the stocks worthless and cancel the shares. "The Company does not expect to be able to distribute any proceeds to the Company’s stockholders and therefore believes that the shares of its common stock are worthless."

[98040]

Who know's what will happen hopefully a happy ending.....

[BingBing90]

That announcement will skyrocket the stock 1000%'s of percent

[98040]

Will find out on Thursday or on the 30th!!!!!

[BingBing90]

Shares cancelled yet?

[CER3]

Are you referring to earnings ?

CER3

[98040]

I have a hunch that long will receive something....\o/

[98040]

Will find out next month if we are all winersssss or loserssss

[stocktrademan]

$WTSLQ recent news/filings

bullish divergence breakout
support retest

## source: finance.yahoo.com

Fri, 14 Aug 2015 15:32:14 GMT ~ SEAL123 INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits


read full: http://biz.yahoo.com/e/150814/wtslq8-k.html
*********************************************************

Wed, 29 Jul 2015 14:59:23 GMT ~ SEAL123 INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits


read full: http://biz.yahoo.com/e/150729/wtslq8-k.html
*********************************************************

Mon, 29 Jun 2015 20:04:30 GMT ~ SEAL123 INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits


read full: http://biz.yahoo.com/e/150629/wtslq8-k.html
*********************************************************

Wed, 03 Jun 2015 20:08:10 GMT ~ SEAL123 INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits


read full: http://biz.yahoo.com/e/150603/wtslq8-k.html
*********************************************************

Fri, 24 Apr 2015 17:04:09 GMT ~ SEAL123 INC Financials


read full: http://finance.yahoo.com/q/is?s=wtslq
*********************************************************

$WTSLQ charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$WTSLQ company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/WTSLQ/company-info
Ticker: $WTSLQ
OTC Market Place: OTC Pink Limited
CIK code: 0000863456
Company name: Wet Seal, Inc. (THE)
Company website: http://www.wetsealinc.com
Incorporated In: DE, USA

$WTSLQ share structure

## source: otcmarkets.com

Market Value: $674,870 a/o Sep 08, 2015
Shares Outstanding: 84,358,776 a/o Dec 05, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.1

$WTSLQ extra dd links

Company name: Wet Seal, Inc. (THE)
Company website: http://www.wetsealinc.com

## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=WTSLQ+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=WTSLQ+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=WTSLQ+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/WTSLQ/news - http://finance.yahoo.com/q/h?s=WTSLQ+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/WTSLQ/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/WTSLQ/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=WTSLQ+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/WTSLQ
DTCC (dtcc.com): http://search2.dtcc.com/?q=Wet+Seal%2C+Inc.+%28THE%29&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Wet+Seal%2C+Inc.+%28THE%29
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Wet+Seal%2C+Inc.+%28THE%29&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.wetsealinc.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.wetsealinc.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.wetsealinc.com

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/WTSLQ
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000863456&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/WTSLQ/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/WTSLQ/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=WTSLQ&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=WTSLQ
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/WTSLQ/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=WTSLQ+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=WTSLQ+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=WTSLQ
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=WTSLQ
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=WTSLQ+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/WTSLQ/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=WTSLQ+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/WTSLQ.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=WTSLQ
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/WTSLQ/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/WTSLQ/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/WTSLQ
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/WTSLQ
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/WTSLQ:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=WTSLQ
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=WTSLQ



$WTSLQ DD Notes ~ http://www.ddnotesmaker.com/WTSLQ

[DUCKOHOLIC]

Can anyone help me out on what's going on? I bought stock in this years and from what I hear they filed bankruptcy then a company bought them out. My understanding is they bankruptcy make the stock null and void but I still see value increasing lately. Secondly now that it's Seal123, LLC and it's a private company how can stock be traded on it? Thanks.

[CER3]

Look like we may see it.

CER3

[MattyTrader]

.015 up today?