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APFY now is showing bid and ask values. It no longer is trading on the grey market and now trades as a pinksheet and is current with it's filings.
http://www.otcmarkets.com/stock/APFY/quote
New symbol is APFY - Amplify Energy, offered at $13.75 per share
You will have a very very very very small share of the new company and a couple of warrants. Whether they are worth anything will not be known til they start trading.
Question ? If one was a stockholder in MEMP, is there any value left or did everything go down the drain ???
Right now since its not trading yet Scotty has it tagged as AMP19# for the common and WTS19# for the warrants.
Just wanted to point out here that mr Olyan appears to have ended up more of a patsy sellout than a hero...
...and Judge Isgur is an asshat as well.
Oh well...here's to "Amplify"...may it hit the strike price and BEYOND
Oops! Just realized that 111 and the link I provided is for BCEI not MEMP
...still unsure about what happened here though...
This isn't the best one and I'm still VERY unsure about what exactly has taken place here, I've seen ratios for the old to new shares ranging from 83:1 to 111:1 to (my calc this morning of 142:1) to I thought another article suggested 170:1 I'm really not sure, but a conversion has begun in my acct. and if I get the number of "Amplify" it LOOKS like I'm getting 142 might be the number.
Some links I'm reading:
https://www.streetinsider.com/dr/news.php?id=12831307
http://www.bizjournals.com/houston/news/2017/05/05/houston-energy-co-emerges-from-bankruptcy-under.amp.html
There is some very confusing material at the end of that second one...
...I'm still looking for the one that said 170.
can you provide link that shows reverse split info? I am unable to find it
LOL, I liked 'muck' too.....I knew whatchu meant.
Thanks!!
Much. On the phone can't edit.
iHub app needs an UPDATE, IMO.
Well that is odd. The confirmed and now effective plan calls for a conversion that amounts to a 1:170 R/S for those current holders who gave releases.
However, I've never been given the opportunity to execute said release.
In fact, I never received ANY paperwork on this BK and I am a pre-bk holder...
...hmmmm.
Thanks Renee for all you do, it is muck appreciated.
MEMPQ returned to MEMP. Symbol added to the OTC in error:
http://otce.finra.org/DLDeletions
MEMP changed to MEMPQ, bankruptcy and delisted from the Nasdaq to the OTC:
http://otce.finra.org/DLAdditions
I'm pretty sure the company was doing the pretending:
http://omnimgt.com/CMSVol2/pub_47157/624005_313.pdf
Page 7
Class 9
...that's us, but only a small fraction of the outstanding interests were counted. The class 9 ballots counted clearly voted to approve, yet they listed class 9 as rejecting (because , for the majority of interests , we never received ballots)
...I hear what you are saying Ernie and in most cases you'd be absolutely correct, that is the standard operating procedure for cramming us down.
Here in this case, I'm not sure what they were doing with class 9...
I got the packet but there was no voting as we are an impaired class. Our votes don't matter so why pretend they do. This is just another way companies with piss poor management can have the books wiped clean of their mistakes and get to remain at the helm to do it again.
Look at Radio Shack
Look at Sears and Kmart in the not to distant future.
Just disgusting! So...I suppose...we will, after all, end up with Q here before too long...
...damn! What a bunch of dirtbags!
Btw, am I the only one who did not receive voting materials?
I know at least one other who did not, but thought I should ask here.
I'm going to report this lack of transparency to the SEC and the court, I encourage anyone else who did not receive ballots to do the same.
Wow, a once mighty company wanted to eliminate the glare of a national exchange into their affairs. What kind of scammers are driving this wreck? Not even willing to list QX.
What a difference a day and an 8K makes.
Any idea tomorrow how high MEMP can go ?
Well said Ernie, I agree with your sentiments wholeheartedly.
Mr. Olyan is a hero, three cheers for this brave warrior!
I remember wayyyy back at the beginning there was 4.5% and warrants for equity but within hours of reading it they swapped it for 2%.
I'm just glad someone with resources called these crooks out for the scam they are trying to pull with the assistance of their sleazy lawyers. I hope the judge calls them all out and sanctions them for their bad faith filings and utterings in his BK court.
TIME TO SET SOME EXAMPLES TO SLOW THESE LEACHES FROM SCREWING EVERYONE BUT THEMSELVES.
Apparently the stinky 2% plan was NOT confirmed. It seem as though Mr. Olyan may have piqued the judges interest...good!
AO 435 TRANSCRIPT ORDER FORM Daily (24 hours) by Jason P. Kathman. This is to order a transcript of Hearing Held on April 4, 2017 before Judge Marvin P. Isgur. Court Reporter/Transcriber: Judicial Transcribers of Texas (Filed By Jeffrey Olyan ). (Kathman, Jason) Electronically forwarded to JTT on 4/5/2017. Estimated completion date 4/7/2017.
http://omnimgt.com/CMSVol2/pub_47157/624463_332.pdf
AO 435 TRANSCRIPT ORDER FORM Daily (24 hours) by Bradley R. Foxman. This is to order a transcript of Hearing 4/4/2017 before Judge Marvin P. Isgur. Court Reporter/Transcriber: Judicial Transcribers of Texas (Filed By Wells Fargo Bank, National Association, as Administrative Agent ). (Foxman, Bradley)Electronically forwarded to JTT on 4/5/2017.Estimated Completion date 4/7/2017.
http://omnimgt.com/CMSVol2/pub_47157/624437_331.pdf
....can't say I'd mind having a copy myself
Brave Partner risks Debtors stinky "death nail" clause and brings an objection to the debtors "bone-us" plan:
JEFFREY OLYAN’S OBJECTION TO CONFIRMATION OF AMENDED JOINT PLAN OF REORGANIZATION OF MEMORIAL PRODUCTION PARTNERS LP, ET AL. UNDER CHAPTER 11 OF THE BANKRUPTCY CODE
http://omnimgt.com/CMSVol2/pub_47157/623383_295.pdf
Obviously this has been edging down the past couple of days. However it appears to have leveled off today and might be edging up again. If this continues tomorrow I will be buying at this level some additional shares. We will see.
It is just all over the place this morning. Started up then dropped a lot. Now recovering a bit. I just have no idea where it is going to end up today.
yeah not bad. most times when the C trader post it tanks
So far it is holding it's gain from yesterday and on good volume.
Just Read Great News @ Forbes about these Companies, Maybe that's why the Price is UP re:
https://www.forbes.com/sites/bryanrich/2016/10/11/are-post-bankruptcy-oil-and-gas-stocks-huge-buys/#5b5d8a88cd25
* * $MEMP Video Chart 3-20-17 * *
Link to Video - click here to watch the technical chart video
Took the words right off my keyboard.
Holding tight and watching the docket...
I like this recent filing:
Notice of Appearance and Request for Notice Filed by Jolene M Wise Filed by on behalf of Jolene Wise U.S. Securities & Exchange Commission
http://omnimgt.com/CMSVol2/pub_47157/620734_269.pdf
Doesn't look like we are going to get a strong close. Daytraders moving out I guess. We will see if we get any follow through tomorrow.
We could have had a string of them there, if we could type that fast
20s en route..
You can have the next HOD post if it happens!!
You beat me to it Doc!
Nice!
...keep it going...
I get it. You believe this stock is not worth investing in. Thanks for your input.
It is well known that the shares will survive this BK. Ever seen a company in bk for two plus months and not get the Q? Me neither.
Well there might be some rumors around the market to that effect. Might be causing some of the action today.
Now, MEMP to be Delisted as in BK. Pump to dump before Delisting.
They went into court with a pre packaged plan that INCLUDES equity...2% + warrants.
Methinks the deal might get better...
SEC watching this closely...along with several other Oil MLP's
If that's the case then its already priced in.. Shorts will be forced to cover soon before delisting.
Or could be some good news.. Something brewing.
Since they have already filed for bankruptcy in January I would think it is already mostly priced into the stock. We will see if they can find a way out of it with a reorganization plan.
"New York, February 01, 2017 -- Moody's Investors Service downgraded Memorial Production Partners LP's (MEMP) Probability of Default Rating (PDR) to D-PD from Ca-PD/LD, following the company's announcement in January that it has voluntarily filed for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division."
It's been in the Bankruptcy process for a while and going to file it in the end.
Be very careful.
MEMP, might file Bankruptcy today AH. Pump to dump before the BK filing.
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