Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
can't trust anything you read on these boards, your own DD always a MUST
Thans again for your response to my post and your comment!
The record is all here and it is very clear who said what. It has been public record for at least 6 months that there was to be NO recovery for the common shareholders.
Wonder if we can notify the SEC or something with regards to the posters who knowingly posted false information for months to try and pump the price.
How about congratulations your dream came true. It was fun while it lasted but the party is over here, moving over to APNI. But as ChuckD has been warning us for months please due your DD before jumping into anything.
So many comments I want to make here................
WLVTQ Wolverine Tube, Inc. Common Stock 6/29/2011 100 Plan of bankruptcy effective. All shares have been cancelled.
Thanks for your response! We will see what happens next.
The stock seems canceled today! It dropped to 0.0001.
Thanks for your response.
That is exactly what it means and what I have been saying for months, it has been repeated in multiple court documents. Read my sticky posts.
Is this means common shares will be cancelled, stock will stop trading? Just ask a question, please educate me.
from T-3 A
SECURITIES TO BE ISSUED UNDER THE INDENTURE TO BE QUALIFIED All outstanding and authorized shares of common stock “Common Stock” , Series A Convertible Preferred Stock and Series B Convertible Preferred Stock of the Company shall be cancelled in connection with the Plan of Reorganization becoming effective, and the holders of such Common Stock, Series A Convertible Preferred Stock and Series B Convertible Preferred Stock shall not receive or retain any property on account of such cancellation
I don't know either , WLVTQ don't have a IR link on their company web sight anymore and I think after BK all 3 or 4 companies will be run through APNI stock but I have to check to be sure so don't take my word for it.
No any news so far as I can tell. But they released the three T-3/As
on 06/24 and 06/23! It seems out of CH11 will be delayed again...
Any news posted yet ? Might announce it after hours or in the morning .
.0013 x 0.0015 now. The bid is up 30% so far! Out of CH11 News soon?
Will it exit from the CH11 today? Why it is so quiet here? Any news?
Yes. WLVTQ hit the new all time low 0.0009 today. However the bid is up to 0.001 now with huge size (1M shares)! 0.001 x 0.0015 anyway...
Today's news! Only one day left to the key date 06/24/2011 (Friday)!
Wolverine Tube Designation of Directors and Officers Amended
Wolverine Tube filed with the U.S. Bankruptcy Court an amendment to the designation of directors and officers in connection with the June 10, 2011 confirmation of its First Amended Chapter 11 Plan of Reorganization. Under the amendment Harold M. Karp will be president, and David A. Owen will be vice president and treasurer.
is this the way Q are usually behaving?
0.001 x 0.0019 now. No sell and no buy yet! I predict the price drop
first to hit the new lows then explode to the penny land after news!
umm Anyone who can read court documents is selling today, but nobody has sold because nobody is buying. ZERO volume.
Only two days left to exit from the CH11 (this Friday or 06/24)! Big
selling orders at the asking price 0.002 now! Who are selling today?
Up another 5.26% so far! 0.002 x 0.0032 now. Very thin asking sides!
I prefer to see it that with a very low volume this thing is jumping up (or down of course).
Hopefully ppl will buy to benefit the uptrend wave when out of CH11 on 24th.
Might be nice to witness and be at the bottom of the wave for once :)
Yeah. Only three days left before the huge news day! No big sell-off yet.
Its quiet because the "up 73%" you refer to was only A $95 trade, no volume at all yesterday, this thing is dead and the market knows it.
There might be a few waiting for the POP when they exit . I know I would like to see one .
Up near 73% so far! So quiet here right before the exiting from CH11
That will be nice to see my friend .
0.0009 x 0.0019 now. WLVTQ will exit from the CH11 on Friday (06/24)
if everything is going well! Based on my experience the rally would
be 1000% ~ 2000% depends on the bottom price and trading volume...
0.0009 x 0.002 now. Very thin asks below 0.007: 5K at 0.002 & .0032!
Yeah. Do you know why WLVTQ had the price surge on last Friday since
exiting from the CH11 was not confirmed in that day yet? What I can tell is, it definitely was not due to the short covering!
I get your point , even looked long and hard at HP but as of yet their palm acquisition has not been to good for them . HP has good tools they just don't know how to integrate them together . IMO the loss of the CEO last year hurt them badly , he had a good plan and by now we would be seeing the HP pad along with the others . Maybe someday they will pull it together .
Do you know some "Q" could be traded after the confirmation date! To debate what you just said: the company may or may not cancel WLVTQ.
"Worthless" is a ridiculous word! While Morgan Stanley said PALM was
worthless and gave the "Zero" price target do you know what happened
then? The stock was trading above $3.64 ("worthless") then HP made a
deal and the price soared to over $6! My definition is: even a stock
is trading at 0.0001 a share you can't call it "worthless" and only the canceled stock (zero a share) is qualified as "worthless"!
There is no question. Commons cancelled. Read the POR. DUH!
The date of exit is the 24th of this month , the date the shares will stop trading is unknown but will happen . Yes , they can take off or drop till that time . If you like to take a risk and see if it will be rewarded go for it , I have but make no mistake , not only does it have to take off but when you decide to sell there has to also be a bid or you will be stuck with them till they 0 out . It's one of those things that usually don't work but when it does you can hit big .
If you are so sure about the fact that "the shares will be cancelled", this to me sounds very much like the ticker symbol of the company, with or without a "Q" will be delisted!
So for a novice, the document linked is very confusing. Where exactly have you read that there will be no recovery and they will be wiped out (you mean the company employees or shares?)...
If you have read all this, I am surprised if there are other shareholders or not saying this will rocket once the company is out of CH11?
I have NEVER said they wont trade past the 24th, I have provided links to the final court document in previous postings, what I have said is that there will be no recovery, they will be wiped out and the shares cancelled. There is no doubt at all about this, as for the last day of trading, it could be any day, you wont get any warning, but it WILL happen.
Nobody can give the link now unless someone lied to the public here!
could you give a link to this "final decision" that no shares of WOLV will be trading past the 24th?
Possible. It is still too early to tell what is the final fate would
be for the WLVTQ shares after exiting from the CH11 on 06/24/2011...
I still see it with the Q... QGSIQ...
so WOLVQ to become WOLVQ?
That is still a question, IMO! I wish the "Q" drop like QSGIQ did...
So if it exits from Ch11, the Q will drop and the pps should climb, right?
Yes. Low OS, very low float, and soon-exit-from-the-CH11 huge news!
WEEEEEEEEEEEE. WLVT always comes back.
lol, less than $100 worth has traded, its time to let it go.
WLVTQ is up 58.4% so far and bottomed out at 0.0012! Easy to breakup
the last week's high .0059 and retest the recent high 0.013! Cheers!
Followers
|
12
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
911
|
Created
|
02/01/07
|
Type
|
Free
|
Moderators |
WLVTQ Wolverine Tube, Inc.
Common Stock6/29/2011 100 Plan
of bankruptcy effective. All shares
have been cancelled.
WLVT is under CH.11 Bankruptcy proceedings in the state of Delaware
The following URL's can be utilized to follow the court proceedings.
Nov 1st 2010: http://www.donlinrecano.net/dr201/wti/10-13522%20Wolverine%20Tube%20Inc.pdf
DEC 2nd 2010: http://www.donlinrecano.net/dr201/wti/Wolverine%20Tube%20Notice%20of%20Commencment%20341%20Meeting%20NOtice.pdf
Wolverine Tube, Inc. Reaches Agreement With Noteholders to Restructure Debt
http://www.prnewswire.com/news-releases/wolverine-tube-inc-reaches-agreement-with-noteholders-to-restructure-debt-106442858.html
Elects to File Voluntary Chapter 11 Petitions to Implement Pre-Arranged Restructuring
Operations Will Continue as Usual
Company to Pay Trade Creditor Claims in Full
Download image
HUNTSVILLE, Ala., Nov. 1, 2010 /PRNewswire-FirstCall/ -- Wolverine Tube, Inc. (OTC Bulletin Board: WLVT), Tube Forming L.P., Wolverine Joining Technologies, LLC, and WT Holding Company, Inc. ("Wolverine" or "the Company"), a publicly held company and a global leader in advanced metal surface technology enhancements for heat transfer solutions, announced that it has reached an agreement in principle with holders of the Company's notes on the terms of a financial restructuring to reduce the company's indebtedness.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081217/CLW110LOGO )
(Logo: http://photos.prnewswire.com/prnh/20081217/CLW110LOGO )
To implement the financial restructuring, Wolverine today elected to file Chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware ("the Court") to effectuate a prearranged plan of reorganization supported by Wolverine's noteholders, which plan the Company intends to file shortly. The Company believes the filings will have little impact on its operations, and it will continue operations during the restructuring process. Wolverine expects to emerge from Chapter 11 within approximately 90 days.
The Company believes its cash on hand, together with the cash generated from ongoing operations, will be sufficient to fund its normal business obligations through the financial restructuring.
"Once completed and approved by the Court, the financial restructuring will reduce the Company's debt by approximately $110 million, leaving Wolverine with $30 million of debt at much more attractive terms and a substantial positive shareholder's equity," said Steven S. Elbaum, Chairman of Wolverine. "We are very pleased to have reached this agreement with noteholders. It is a very positive step for Wolverine, our customers, suppliers and employees because it underscores confidence in Wolverine's ability to achieve sustained profitable growth. Over the last three years Wolverine has successfully restructured its operations, improved its cost structure and competitiveness and repaid a substantial amount of debt. It is highly focused on its core business and customers. The announced restructuring will firmly position Wolverine to successfully compete in the global markets it serves."
"On an operational level, Wolverine has a strong foundation in place with a cash position that is more than sufficient to run its business during this period," added Elbaum. "A court-supervised process will accelerate - and finalize - Wolverine's financial restructuring while ensuring that current business operations continue without impediment."
Wolverine has also filed a variety of customary motions to support its employees and suppliers during the restructuring process. As part of these motions, the Company has asked the Court for additional authorizations, including permission to continue paying employee wages and salaries, provide employee benefits, and pay trade creditors in full without interruption.
Wolverine has retained Proskauer Rose and Cozen O'Connor as legal counsel in connection with the restructuring.
Additional information is available at the Company's website www.wlv.com. For access to Court documents and other general information about the Chapter 11 cases, please visit www.donlinrecano.com
About Wolverine Tube, Inc.
Wolverine is a global leader in offering proprietary custom-engineered components that provide a thermal management solution for our customers in multiple markets including HVAC, refrigeration and appliance, electronics cooling, power generation, petrochemical and chemical processing. We deliver the most advanced metal surface technology enhancements for heat transfer solutions in today's marketplace. We have also earned a reputation for having the broadest engineered product offering in the non-ferrous metals market.
Throughout our more than 90-year history, we have utilized our proprietary tooling and process technology to enhance surface geometry for tubular and flat metal surfaces to expand our product lines, effectively meeting our customer's increasing needs for effective enhanced heat transfer performance. Our tailored solutions for many OEM customers are globally recognized.
Contacts
Harold M. Karp
President and Chief Operating Officer
Wolverine Tube, Inc.
200 Clinton Ave., Suite 1000
Huntsville, AL 35801
256-890-0460
Harold.Karp@wlv.com
David A. Owen
Sr. Vice President, Chief Financial Officer and Secretary
Wolverine Tube, Inc.
200 Clinton Ave., Suite 1000
Huntsville, AL 35801
256-890-0460
David.Owen@wlv.com
SOURCE Wolverine Tube, Inc.
Back to top
RELATED LINKS
http://www.wlv.com
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |