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Explain the GM deal on WEJOQ pls.........
Z
Took a break for a while, but im back. ;). Compiling a list for you guys.
It has been a long while since I've posted on my board, holding a good amount in WEJOQ. GM venture capital is the majority stakeholder, with confidence.
hmmm, any other news ????? $ARIOQ
ARIOQ Commons stay BOOMTIME IMO.
ARIOQ
ARIOQ shares to be cancelled next week
SIRG-Q - OFFICIAL Q OFF, NO CHANGE TO COMMON
Hello all,
New to this post, just wanted to get your thoughts on the recent chapter 11 for Walters Energy (WLTGQ)
BPZRQ looking to sell assets...could get interesting
http://ih.advfn.com/p.php?pid=nmona&article=67212635&symbol=BPZRQ
Not new, other than the refreshingly inclusive nature of the offering. Usually equity is abandoned altogether. Management is typically so busy trying to save their jobs by kissing ass for the new money behind the operationm, they don't want to rock the boat by sticking up for equity. Easier to throw them in with the rest of the defaulted obligations and say screw 'em LoL! At least in this case they took the higher road.
PALDF is offering warrants/options to policy holders
a not so new idea
but
may be a thing to do for other companies to follow
may be a good way to raise equity
cc
It's a credit to PALDF management they didn't just stiff equity altogether. They didn't break any new ground in the generosity department (2% ?!?) but that's more than they had to do, which you're right - is a refreshing change from the "norm."
cork here is a new twist to Q companies
PALDF has a new twist to it
terminate all warrants & options
PALDF is going to sell debs to policy holders on record
Thanks Cork. Always appreciate your wisdom and insights. All the best to you with your positions!
Hey Lone Wolf, I've gotten away from the q's the last few years. I'm convinced there is a catastrophic economic collapse in the not too distant future. Policy wise, nothing has changed since those glory days (for us Q traders!) of late 08 and 0-9 period. If anything it's a lot worse. Consequently, I'm putting everything into physical silver.
As tempting as it is to get in on the next big wave of Q's, paper money is best spent right now on tangible assets. Awesome percentage returns on the q's won't mean much in a hyper inflationary environment. Anyway enough sermonizing.
It would take hours to backtrack those two Q's but on the surface it looks like Seaco is gonna gut the holding company, dump as much Sea Containers Ltd. debt as they can (and as much IT debt as they can get away with) into the holding company and emerge as a private entity with the major Sea Containers Ltd. stakeholders as the redefined stakeholders in the new IT company. Might issue new stock in the equivalent percentages if it stays public which would accomplish the same thing. I suspect current equity will be jettisoned with the rest of the debt.
I don't know about the other one. I don't have time to really check it out.
You know the drill. Never throw more into the Q's than you are prepared to lose if it goes wrong. The vast majority of them do. Pilgrims Pride and Chemtura were 4 digit exceptions to the rule of course, but even those guys had to know when to bail. Please keep in mind I can't give it the time it deserves so my opinions aren't particularly steeped in research LoL! Good luck with it, I hope you make a pile of cash!
Hey most brilliant Q-trader...This past week I came across two companies that kept bringing you to mind. I've been pretty stumped by both for different reasons.
Here's one...along with the reason I'm stumped: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113503778
And here the other: http://investorshub.advfn.com/Electronic-Sensor-Technology-Inc-ESNR-4304/
Second just got their restructuring plan approved, but never had their ticker registered with a 'Q'.
Scratching my head on both.
Best regards old pal. I hope you are doing well.
Hope you guys bought $BPZRQ 0.047 today. Just the beginning
BPZRQ news! Annual Meeting June 19th..merger announcement?
http://ir.bpzenergy.com/secfiling.cfm?filingID=1437749-15-8298
BPZ's revenue producing asset is a license contract with Perupetro S.A.(“Perupetro”), a corporation owned by the Peruvian government. Important interest are in play from both sides and Peruvian government cannot permit that the company will not survive. Another important point is BPZ is a holding company that operates through various subsidiaries in Texas, Peru, and Ecuador.But, the subsidiaries were not put into BK.
I'm still trying to figure out what advantage there is for Pacific Rubiales Energy to do it that way. If PacRub has already guaranteed (assumed) the BPZRQ debt, in exchange for a court approved assumption of BPZRQ assets, what advantage is it to PR to offer anything for the BPZRQ shares? That interest could just as easily be extinguished in the Chapter 11 process.
I have't played the Q's for quite a while now so I'm a little rusty with the finer nuances anymore. I wish I had the time to give this one the attention it deserves. Sounds like it might be worth putting a little WTF money in just in case.
a lot of Court documents but this one could help
http://www.kccllc.net/bpz/document/1560016150422000000000004
how Court authorized? because they found finance to pay debt dont you think?
Hmmmm....Any thoughts Cork..?
BPZRQ no BK here..Court authorized BPZ ENERGY to use bank accounts and cash to operate and continue investment practices
$0.25 soon
http://www.kccllc.net/bpz/document/1560016150428000000000002
interesting Blackrock and Fidelity sold 15 million shares..bigger Funds out (just for rules) but MMs ate all the shares..another two good points to consider
1. in the Chapter 11 and next news never mentioned liquidation or restructuration only they money to pay debts (that could answer your question)
2. partner Pacific Rubiales spent $150 million to buy Block Z-1 and then almost $200 million to increase production..today BPZ's market cap is $3.5 million so Pacific Rubiales interest would be keep those doors open..that company market cap is $1 billion!
BEST OPPORTUNITY TO MAKE MONEY EVER IMO
$BPZRQ added at .036 Pacific Rubiales is a big one
BPZRQ - Rumors in another forum saying there is talk of a buyout for BPZRQ
http://www.stockhouse.com/companies/bullboard/t.pre/pacific-rubiales-energy-corp?threadid=23631484
Interesting action today on BPZRQ...8K yesterday...
http://ih.advfn.com/p.php?pid=nmona&article=66396500&symbol=BPZRQ
Thanks for the input...I picked up some at .05 a while back and a few more between .02 and .03 ...
I figure a pop back to .25 area is possible...
Also not a bad buyout target...
I'm a gamblin' man...
Not familiar with BPZRQ, but the debt to asset ratio is positive, which is a good start. The typical death drop usually signifies the exit of institutional investment which is the key to the whole thing. If they bailed, it looks rough. Have they announced approval of a POR, interim financing? If not, those typically are good for a PR bounce.
I didn't see any mention of current equity in the Q announcement. A reference needs to be made at some point. Important not to let them confuse the issue with the old "stakeholder" dodge (as opposed to shareholder). Announcement of an equity committee would be a positive for current equity, especially if institutional investment bailed.
You're a pro with the Q's Iron Maiden, so I'm not telling you anything new LoL! I like the looks of these guys and they could be a good way to pick up a nice O+G play on the cheap, and if nothing else there should be volatility opportunities playing the bounces.
You too...thoughts on BPZRQ?
Gold Miner Allied Nevada Files for Chapter 11 Bankruptcy
Bloomburg Business
by Michael Bathon, Laura J Keller March 10, 2015
(Bloomberg) -- Allied Nevada Gold Corp., the operator of the gaming state’s Hycroft mine, filed for bankruptcy after operational setbacks and lower gold prices eroded profitability at its sole working property.
The company listed debt of $664 million and $941 million of assets as of Dec. 31 in Chapter 11 court documents filed Tuesday in U.S. Bankruptcy Court in Wilmington, Delaware.
Allied Nevada also reached an agreement with a group of bondholders for $78 million in bankruptcy financing to help fund operations while it restructures.
The company has less than $4.5 million in cash as of Tuesday, financial adviser Barak Klein with Moelis & Co. said in the court filings.
The company’s shares traded above $45 in 2011, the year gold prices peaked.
The shares fell 80 percent to 17 cents in New York at 1:15 p.m. on Tuesday. The miner has struggled with operational setbacks at Hycroft, most recently when a chalky substance slowed production and forced Allied Nevada to lower its annual gold and silver sales forecasts.
The Reno, Nevada-based company has also contended with plunging gold prices. The metal dropped 28 percent in 2013, the first annual decline in 13 years, and declined 1.4 percent last year.
As its cash depleted to dangerously low levels, just $1.3 million at the end of November, the company raised $21.5 million, offering equity for $1 with warrants in December. Debt grew to $567.9 million by Nov. 30, including $48 million in cash borrowings under a loan.
Mill Construction
It would cost almost $1.4 billion to complete a mill that it needs to recover more metals, according to a December regulatory filing. The company hired Credit Suisse Group AG and Bank of Nova Scotia in 2014 to advise on options to finance the mill.
The company, incorporated in Delaware in 2006, owns more than 50 Nevada properties acquired in a merger, as well as interests in what it calls some of state’s “most prolific gold-producing trends.”
Allied Nevada will file a pre-negotiated plan with the support of noteholders, who own more than 67 percent of C$400 million in 8.75 percent notes due 2019, according to a regulatory filing. Lenders of its revolving credit line also support the plan, according to the filing.
The company and noteholders began negotiating last month on restructuring options as the company’s cash balance dwindled, people with knowledge of the matter told Bloomberg News at the time.
Noteholders Negotiations
Noteholders in the negotiations included CI Investments Inc., Mudrick Capital Management LP, Third Avenue Management LLC and Whitebox Advisors LLC, people with knowledge of the talks told Bloomberg last month.
Secured lenders will receive a new first-lien term loan and the noteholders will get equity in the reorganized company, under the terms of the restructuring plan.
The noteholders providing the bankruptcy financing will get a convertible second-lien term loan and new common shares as well.
Current shareholders are slated to get warrants to buy equity in the reorganized company if they vote in favor of the plan. Otherwise, they’ll get nothing. The existing stock will be canceled.
The case is In Re Allied Nevada Gold Corp., 15-bk-10503, U.S. Bankruptcy Court, District of Delaware (Wilmington).
http://www.bloomberg.com/news/articles/2015-03-10/gold-miner-allied-nevada-files-for-bankruptcy
OCZTQ: What's the deal?
I have read the filings ... it looks as if they will escape with Toshiba's help???
Can someone with more experience interpreting these filings, and knowledge of bankruptcy law, give me an opinion here?
CWTR to file Bk in week, $0.18 area
(special thanks to sludgehound)
Women's retailer Coldwater Creek Inc. is preparing to file for bankruptcy- court protection within about a week as it contends with a high debt load, declining sales and broader industry struggles, people familiar with the matter said.
Coldwater Creek , known for its catalogs selling a variety of women's clothes and accessories as well as mall-based retail stores, has struggled for months. Attempts to avoid a bankruptcy filing by refinancing debt or selling itself to a private-equity buyer were ultimately unsuccessful, these people said.
The company's postbankruptcy strategy isn't clear. Coldwater Creek carries about $353 million in total debt, which includes about $180 million in current liabilities, according to its most recent earnings filing.
In addition to its catalog business and retail stores, Coldwater Creek operates factory stores, an e-commerce business and seven spas in the U.S., according to its website.
The company, which is publicly traded but partially owned by private-equity firm Golden Gate Capital , posted sales of about $155 million for the quarter ended Nov. 2, 2013 , compared with $188 million in the year-earlier period, according to its most recent filing.
Coldwater Creek's struggles mirror those of the broader retail sector. Many retailers posted underwhelming holiday sales, and some face severe distress.
Brookstone Inc. is preparing to file for bankruptcy in the coming days, with plans to be sold to another specialty retailer. In March, plus-size women's retailer Ashley Stewart Holdings Inc. filed for bankruptcy protection. Women's clothing retailer Dots LLC filed for bankruptcy in January, and about a month earlier discount retailer Loehmann's Holdings Inc. filed for Chapter 11 protection and is now shutting down its stores.
Write to Emily Glazer at emily.glazer@wsj.com and Dana Mattioli at dana.mattioli@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
03-31-14 1233ET
Copyright (c) 2014 Dow Jones & Company, Inc.
Thanks. I was thinking so as well. Has nice S/S and pps.
interesting, probably most certainly does... Best of Luck trading. Cheers!
CHADQ What do you think? FINRA reinstated it from deletion recently. Does that mean something is coming good for Chad?
Trump, gotta get this board going again...
UFFCQ - UFood Restaurant Group, Inc (.0024) up 71% today!
Initially announced reorganization in December 2012 http://www.ufoodgrill.com/
(special thanks to Iron Maiden)
UWBKQ worth a few hundred, fyi. Chpt. 7 with a Plan of Liquidation that may very well include shareholders. 10/21 deadline is the calculated timeline in BK court.
$200 today could be a minimum $3200 soon, imeo.
VC
CPRKQ: Finra Filing: Plan of Bankruptcy effective.
(special thanks to ChuckD-MSB
Shares have been cancelled.
Deletion time: 9:10:48.
Shareholders will receive pro rata shares of reorganized Copper King.
http://www.otcbb.com/asp/dailylist_detail.asp?d=06/24/2013&mkt_ctg=NON-OTCBB
New CUSIP number should take about 30 days.
CPRKQ - Copper King Mining Corp. Emerging from bankruptcy. Commons to survive with an equity position.
Worth a look. ChuckD-MSB did a lot of work on the equity committee.
Copper King IHUB Board: http://investorshub.advfn.com/Copper-King-Mining-Corporation-%28fka-CPRKQ%29-2587/
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~ Q STOCK TRADERS ~
Our stocks may be "up da creek" with a Q, but they are working their way back...and some get downright HOT & are taking us traders along for the ride :)
**Mods**
What Every Investor Should Know
(A MUST READ)
What happens when a public company files for protection under the federal bankruptcy laws? Who protects the interests of investors? Do the old securities have any value when, and if, the company is reorganized? We hope this information answers these and other frequently asked questions about the lengthy and sometimes uncertain bankruptcy process.
How Are Assets Divided in Bankruptcy?
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Federal bankruptcy laws govern how companies go out of business or recover from crippling debt. A bankrupt company, the "debtor," might use Chapter 11 of the Bankruptcy Code to "reorganize" its business and try to become profitable again. Management continues to run the day-to-day business operations but all significant business decisions must be approved by a bankruptcy court.
Under Chapter 7, the company stops all operations and goes completely out of business. A trustee is appointed to "liquidate" (sell) the company's assets and the money is used to pay off the debt, which may include debts to creditors and investors.
The investors who take the least risk are paid first. For example, secured creditors take less risk because the credit that they extend is usually backed by collateral, such as a mortgage or other assets of the company. They know they will get paid first if the company declares bankruptcy.
Bondholders have a greater potential for recovering their losses than stockholders, because bonds represent the debt of the company and the company has agreed to pay bondholders interest and to return their principal. Stockholders own the company, and take greater risk. They could make more money if the company does well, but they could lose money if the company does poorly. The owners are last in line to be repaid if the company fails. Bankruptcy laws determine the order of payment.
A company's securities may continue to trade even after the company has filed for bankruptcy under Chapter 11. In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange. However, even when a company is delisted from one of these major stock exchanges, their shares may continue to trade on either the OTCBB or the Pink Sheets. There is no federal law that prohibits trading of securities of companies in bankruptcy.
Note: Investors should be cautious when buying common stock of companies in Chapter 11 bankruptcy. It is extremely risky and is likely to lead to financial loss. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. In most instances, the company's plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company's assets before common stockholders. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution.
If the company does come out of bankruptcy, there may be two different types of common stock, with different ticker symbols, trading for the same company. One is the old common stock (the stock that was on the market when the company went into bankruptcy), and the second is the new common stock that the company issued as part of its reorganization plan. If the old common stock is traded on the OTCBB or on the Pink Sheets, it will have a five-letter ticker symbol that ends in "Q," indicating that the stock was involved with bankruptcy proceedings. The ticker symbol for the new common stock will not end in "Q". Sometimes the new stock may not have been issued by the company, although it has been authorized. In that situation, the stock is said to be trading "when issued," which is shorthand for "when, as, and if issued." The ticker symbol of stock that is trading "when issued" will end with a "V". Once the company actually issues the newly authorized stock, the "V" will no longer appear at the end of the ticker symbol. Be sure you know which shares you are purchasing, because the old shares that were issued before the company filed for bankruptcy may be worthless if the company has emerged from bankruptcy and has issued new common stock.
During bankruptcy, bondholders will stop receiving interest and principal payments, and stockholders will stop receiving dividends. If you are a bondholder, you may receive new stock in exchange for your bonds, new bonds, or a combination of stock and bonds. If you are a stockholder, the trustee may ask you to send back your old stock in exchange for new shares in the reorganized company. The new shares may be fewer in number and may be worth less than your old shares. The reorganization plan will spell out your rights as an investor, and what you can expect to receive, if anything, from the company.
The bankruptcy court may determine that stockholders don't get anything because the debtor is insolvent. (A debtor's solvency is determined by the difference between the value of its assets and its liabilities.) If the company's liabilities are greater than its assets, your stock may be worthless. Contact your local Internal Revenue Service (IRS) office or call 1-800-829-1040 for information about how to report worthless securities as a loss on your income tax return. If you don't know whether your stock has value, and you can't find a stock or bond price in the newspaper, ask your broker or the company for information.
Full Story: http://www.sec.gov/investor/pubs/bankrupt.htm
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