WLVT the new Q play. WLVT has entered into a Ch.11 as of Nov 1st. On Nov 3rd the judge agreed to all motions presented by Wolverine Tubing.
WLVT is going to be a huge Q play. WLVT already had prior approval from the debtors to restructure the debt through CH.11. The 40.6M Class C (commons) is to remain intact and WLVT will continue operations with cash on hand.
WLVT did over 150M in sales last year, Their debt was 235M from the last three years. A CH.11 was necessary to remove 110M in debt leaving only 30M. WLVT has posted that they see a 200M plus revenue stream for 2011 and beyond.
WLVT is based in Huntsville Alabama and has been in business for 90 years. They were listed on the NYSE (not the Nasdaq making it a blue chip stock at the time) until 2007 due to the economic downturn. They delisted in March of 2010 and remain on pinksheets.
WLVT has three goals in mind 1. Reduce standing debt without using equity (CH.11) 2. Enhance shareholder value (near term), and 3. re-list on the NYSE (Long Term).
Risking it all to obtain the reward, necessitates the motivation to succeed.
