Advanta Corp. - A Shares (fka ADVNQ)

[eddy2]

safe oh brother you can't say I didn't tell you so.

[mkinhaw]

It was always clear from the 8K
that this would happen
hope you got out
MK

[Value_Investor]

The common shares were canceled after market close as I predicted...

[Value_Investor]

I told you all the common shares were intact and survived now unless
you have some different informations or the shares would be canceled after the market close! Otherwise I think ADVNQ is finally safe bet!

[mkinhaw]

.0002 dn 95% b/a .0003X.0045
hmmmh
still no dailylist deletion
MK

[Value_Investor]

I just posted my opinion. If the bank stock rally 15000% from 0.0002
to 0.03 within five months and you still could not make money, it is
your problem. For sure some people made money from the bank stock. I
think the current price level is cheap since the shares stay intact.

[PennyBlender]

If he's on drugs, I want some. It reflect my thoughts exactly.

Any Q stock is speculation, the rest is not important. After a couple of weeks this will move with ease.

Better hold all you've got, can't get much worse.

[eddy2]

Man are you on drugs it is over time to take your loss don't be taken others down cause you lost so much on the banks nightmare in the past five years.

[Value_Investor]

The common share will stay and won't be canceled today! Let us start the rally again. Do you know why ADVNQ soared to .03 from the recent support 0.0016 vs ADVBQ only bounced to 0.0065 from the bottom 0.002
yesterday? Before 03/02/2011 ADVBQ had performed better than ADVNQ.

[PennyBlender]

60% up

Trading continues. Effect day was March 1?

[retireat40]

Pursuant to the Plan, all Equity Interests of the Company (including all outstanding shares of Preferred Stock, Class A Common Stock, Class B Common Stock, Class A Rights, Class B Rights, options or contractual or other rights to acquire any Equity Interests) were cancelled and extinguished on the Effective Date. Under the Plan, holders of Equity Interests in the Company will not be entitled to, and will not receive or retain, any property or interest in property in exchange for such cancelled Equity Interests. In addition, the Company intends to file a Form 15 with the Securities and Exchange Commission to terminate the registration of its Class A Common Stock and Class B Common Stock. Thereafter, the Company’s reporting obligations under the Securities Exchange Act of 1934 will be suspended.

[retireat40]

No chance....never happens in BK cases. Common shareholders are the lowest man on the totem pole.

[PennyBlender]

Cancellation means trading stops? There are lots of Q tickers being traded daily, or are they just not as yet cancelled.

[mkinhaw]

Its in the 8K it rallied back up
because it wasn t on the dailylist yet
imo
MK

[Value_Investor]

If the common shares is canceled why the price rally to 0.0075 again
from 0.003 an hour ago? Maybe the shares won't be canceled tomorrow.

[prock19]

Is this saying their going to pay .01 per share to holders?

[mkinhaw]

8K today says all cxld

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7768306

MK

[Value_Investor]

There is no document mentioned the common shares cancellation yet! I
bet the bank pay the cash or the new shares to existing shareholders

[mkinhaw]

Could be any moment, for sure tomorrow
read 8K out today on pinksheets
MK

[buxmaker]

When do they cancel?

[mkinhaw]

Looks like shares will be cxld

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=60492722

MK

[JJZander]

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7768170

[buxmaker]

What did they say? I guess they were positive?

[JJZander]

filings

[buxmaker]

Running hard today. Anyone know why?

[DMOST]

Did you look at the date on the posting, 2008. Hence the reason Advanta found itself in its' current state........old news, doesn't affect what is going on now but, is most definitely 1 of the reason the company went to $hit..........

Still waiting to see how this utlitmately turns out.



"PEACE"

[Value_Investor]

It is nothing. I view it as a good thing to get more cheap shares at
the current huge discount price levels! You should sell out all your
shares ASAP since you are worry about ADVNQ. I hold mine for 0.1073.

[eddy2]

This can't be good.


http://www.complaintsboard.com/complaints/advanta-bank-corp-c61896.html

[Value_Investor]

I bet you must have purchased this bank stock before the bankruptcy. The 52-week trading range is 0.0018 ~ 0.085. All the price below the
bid are fake by the sick market maker. My order at 0.002 was filled
only about 5% so far since I first placed it and the lowest ask was
0.0021. AWBCQ did rally from 0.0025 to 0.149 within a few weeks with
17M shares OS. ADVNQ is a bigger and better bank. It should break up
the current 52-week high 0.085 and rally to 0.1073 to match AWBCQ...

[eddy2]

I lost plenty in this company and don't plan to loose anymore


http://ezinearticles.com/?Penny-Stock-Shams-EXPOSED---Stock-Dilution---The-How-to-Avoid-Em-Series-Pt-1&id=4548549

[Value_Investor]

Then you should sell your shares to follow those institutions if you
think they are smart enough. For me I completely ignore them, follow my investment principle only. I wish more shares dump to me ASAP.

[eddy2]

An asset is only worth what it can generate in revenue or what the street will give you for the trinsic asset. The street has spoken and that is why it is trading were it is. Now of course you could be smarter then all the millions of institutional investors out in the market place but my money, sorry, is with those institutional investors, no offence of course to you ment in my comments to your posts. The market maybe ca get it wrong but I dought it very much.

[Value_Investor]

The MM want those cheap shares from the weak hands. Smart buyers are
accumulating as many shares as they could at 0.0025 ~ .0035. The ask
is 0.007 not far from the recent high 0.009. Similar scale "Q" banks
trade at multiple tens of times of the market value $35K of ADVNQ...

[Lucky_Charm$]

Why is this trading down here then if true/accurate/correct? Thanks

[Lucky_Charm$]

K, thx

[Value_Investor]

At 0.0035 the market value is only $49K based on the 14M shares OS!
Which is incredible low as an huge bank stock with $2.28 book value!
Anyway ADVNQ first hit 0.0035 today since it bottomed out at 0.0021.

[Value_Investor]

Please advise if there is anything wrong in my calculation! Remember
ADVNQ is a very large bank & it is still in the bankruptcy process.

[eddy2]

I would recalculate that if I were you.

[Lucky_Charm$]

thx man--not much vol though ya know

[Value_Investor]

At 0.0025 the market value is only $35K based on the 14M shares OS!
Which is ridiculous low as an huge bank stock with $2.28 book value!

[Value_Investor]

At the current extremely oversold price levels I am stealing as many shares as I can not selling any single share because the reward will
be huge (200% ~ 700%) very soon once we pass the 12/31/2010 tax date

[eddy2]

your looking for a buyer there is a reason it is trading were it is the bad debt is still mounting and one has to think about future earnings not just todays loss.

[Lucky_Charm$]

WOW...thx for the heads up

[Value_Investor]

The listed asset is $363M and the liability is $331M. So the net is
$32M and the book value is $2.28 a share based on 14M shares OS.

[Lucky_Charm$]

NICE-i'll be watchin

[Value_Investor]

25% up from 0.0024 to 0.003 today! ADVNQ is extremely oversold now!
The recent high 0.009 should be tested very soon due to undervalued.

[Lucky_Charm$]

k thx man....

[Value_Investor]

0.0024 x 0.0035. You can sell out your position at .0024 tomorrow if
are that people who sold the shares at 0.0025 today! I will wait for
0.009 ~ 0.0153 to make huge profit soon. The current market value at 0.0021 is only $30K which is ridiculous low! Huge rally is brewing.

[Lucky_Charm$]

lol...im the stupid one, i only have a few but your right, i will wait it out

[Value_Investor]

I agree with you. I don't understand why some very stupid people are
selling the shares at 0.0025. This stock has extremely low OS count!
Even at the recent high 0.009 the market value is only $129,691.