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chief', call me anytime. i can no longer pm, as i don't see eye to eye with management of these boards. i'm a freebie now.lol
one last run before the hammer drops??
yup....to da moon!lol....nevr know..if we see an early morning upward gap look out this stock is explosive with the tiny float..awesome stock for flippers!
anyone think there will be one more pump for some people to get out before it halts?
i posted that like wed morning. when the stock was running, you people need to read when posts are posted!
It's morally wrong and irresponsible to say, "Let's send this over .20+ today," when in fact the company has already filed papers with the SEC to halt the trading of this stock, an event that could happen at any time. Anyone who owns shares right now had better sell the stock for whatever they can get before they aren't able to get anything but a huge tax write-off.
"lets send this over .20+ today"
too much reading...what does it mean? LOL .....TIA
Form 8-K for AMERICAN SKIING CO /ME
--------------------------------------------------------------------------------
3-Aug-2007
Triggering Events That Accelerate or Increase a Direct Financial Obligatio
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On July 31, 2007, American Skiing Company (the "Company") failed to redeem all of its outstanding shares of Series C-1 Convertible Participating Preferred Stock (the "Series C-1 Preferred Stock") and Series C-2 Preferred Stock (the "Series C-2 Preferred Stock" and, together with the Series C-1 Preferred Stock, the "Series C Preferred Stock") held by Oak Hill Capital Partners, L.P., Oak Hill Capital Management Partners, L.P., Oak Hill Securities Fund, L.P., Oak Hill Securities Fund II, L.P., Oak Hill Securities Fund Liquidating Trust and OHCP Ski, L.P., which it was required to redeem on July 31, 2007 for cash in the amount of the liquidation preference of such shares, to the extent the Company has funds legally available to do so. The Series C Preferred Stock was issued pursuant to Certificates of Designations of the Company for its Series C-1 Preferred Stock and its Series C-2 Preferred Stock. On July 31, 2007, the Series C Preferred Stock had an aggregate liquidation preference of approximately $413.9 million. As a result of the failure to redeem, the liquidation preference of the outstanding shares of Series C-1 Preferred Stock will continue to accrete in value at a rate of 12% per annum and the liquidation preference of the outstanding shares of Series C-2 Preferred Stock will continue to accrete in value at a rate of 15% per annum. The Company believes that it will not be able to pay in full the liquidation preference of the outstanding shares of Series C Preferred Stock because it does not believe that it will be able to generate sufficient proceeds from its operations and the sale of its remaining assets to do so. The Company has adopted a plan of complete dissolution and liquidation of the Company. Holders of the Company's common stock, par value $0.01 per share, and Class A common stock, par value $0.01 per share, are not expected to receive any payment or distribution with respect to their shares pursuant to the Company's plan of dissolution after it makes payments to its creditors and the holders of the Series C Preferred Stock.
The Company and the holders of the Series C Preferred Stock have had numerous discussions regarding the status of the Series C Preferred Stock. The Company expects that the foregoing matters will have no impact on the Company's continuing operations or the status of currently pending transactions regarding the Company's resorts.
http://biz.yahoo.com/e/070803/aesk.ob8-k.html
Why are people still buying this stock when it could stop trading any day? I can't figure out why anyone would want it.
stockwise07, when did you sell AESK? EOM
worthless or not many traders have made a fortune on it this week with all of the runs it makes....wouldn't be surprised to see it do what it did Wednesday tomorrow...weeeeeeeeeeeeeeeeee its made me rich
AESK is worthless. Sell now before trading is halted. Read the filing!
Holders of our Common Stock and Class A Common Stock are not expected to receive any payment or distribution with respect to their shares pursuant to our plan of dissolution after we make payments to our creditors and the holders of our Series C Preferred Stock.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0000950134%2D07%2D014529%2Etxt&FilePath...
cat
for some reason scams seem to run the most...this thing opened nicely up 7.5%...we've seen how quickly it can run with the tiny float..might do it again today just on pure $ flow...gl
ummm. I posted the red flag from the SEC filing here on this board that stated the shares were basically worthless to shareholders. Did you not see that?? The MOD here DID NOT DELETE it because its still there: http://investorshub.advfn.com/boards/read_msg.asp?message_id=21672637
Several others posted facts about this stock prior to the decline and gave plenty of warning to people which would have enabled them to bail green.
Anyone who buys a stock up over even 100% and then complains after it drops has some serious lessons to learn in pennyland - the hard way! IMO.
Take care and good luck.
SEC won't do crap, if they shut it down still lose....could take years before anyone is prosecuted.
Who pumped this?
What this means is this is a pump and dump scam. I have alerted the SEC and I hope they do their job and research this and all the people responsible get to share a jail cell together!!!!
I think the shorts are covered but anyhow GLTA in it
Have a great day all
Bingo.
OT: Check out ESPH, moved my profits there ;).
So what does this mean. Are they closing the company and selling all assets?? And then the shareholders get nothing? If this is the case then it should drop much more. Pls inlightning me.
This is worth watching for the run seemed a bit too quick from past results, it may still have a leg up in it.
shorts have to cover...could run back to .11
I suspect this was a 1-day MM orchestrated run to get rid of as many shares as possible before AESK disolves.
But what do I know.
Chris
Amazing
American Bulls has this as a strong BUY. This is just confirmation of the fact that there is absolutely no integrity in the market today. Pumpers/Dumpers Liars and out right thieves.
I am buying some shares in October!!!!
American Skiing Co. to sell its last ski area and dissolve
9:42 p.m. 07/16/2007 Provided By AP Worldstream
SALT LAKE CITY, Jul 17, 2007 (AP Worldstream via COMTEX) -- American Skiing Co. said it was selling its last ski area and going out of business.
American Skiing, which owned 10 ski areas as recently as 2001, said Monday it would sell its flagship The Canyons, a 3,700-acre (1,500-hectare) resort in Park City, Utah, for $100 million (EUR 72.56 million) to an affiliate of Toronto-based Talisker Corp., a luxury resort club operator that has invested heavily in lodging at Deer Valley, another Park City resort.
Talisker became owner of land and mineral rights at Deer Valley and Park City Mountain Resort, which are operated by separate companies, when it bought United Park City Mines in 2003.
American Skiing, meanwhile, will "wind down its affairs" by September, said B.J. Fair, president and chief executive of the company.
American Skiing began operating The Canyons in 1997, taking over a tiny ski area called Wolf Mountain. Over the years it invested heavily in mountain and base lodge amenities, adding terrain and lifts as recently as last winter.
It previously announced the sale of Maine's two largest ski areas - Sunday River and Sugarloaf/USA - leaving The Canyons as its last resort.
American Skiing's majority preferred stockholder pushed for the company's liquidation. Still, New York-based private equity firm Oak Hill Capital Partners won't recover its entire investment in American Skiing, company executives said.
Common stockholders will get nothing as American Skiing dissolves and lets corporate employees go, said David Hirasawa, the company's investor-relations director.
"This is not a default-type of arrangement. We are not in bankruptcy. We are paying out to different equity holders in order of seniority," he said.
American Skiing's board, which includes Oak Hill, realized the money it could get from its ski areas when it got a $265 million (EUR 192.29 million) offer on Colorado's Steamboat Springs resort, a smaller but more popular resort than The Canyons, from Canadian resort operator Intrawest Corp.
Steamboat changed hands in March.
"We got exceptionally strong value for that resort," Hirasawa said. "On the heels of that transaction, and because the value was so strong, we were forced to explore some opportunities (to sell) our remaining resorts. The decision was the result of strong market conditions."
In February, American Skiing disclosed it was selling Vermont's Mount Snow and New Hampshire's Attitash ski areas for $73.5 million (EUR 53.33 million). Then, four days later, it announced the sale of Vermont's Killington and Pico resorts for $83.5 million (EUR 60.59 million).
I wish things would run for more than 1 damn day
This would have been a wild intraday trade yesterday if one got in early and sold well before the close.
What goes up to the sky usually falls back to earth.
Chris
im a little confused i apologize, but will the shares be cancelled upon the deal completing
walk down, don't sell PPS .28 predict
Wach out for a gapper... I think this has upside potencial on the start of the day... after we will see
Ha ha. it seems to me that it is easier to post the link if you are going to quote a filing, saves other people the time of searching for the form. I guess it is just a common thing that I do out of convenience for others,
No offense Ruger, but do you know where to find SEC filings?? I believe it is quite important to know where they are.
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001043432&owner=include&c...
Good luck. BLUE
Is there a link to that filing?
WE HAVE A PUBLIC OFFER OF 110 million dollars.
10 millins is not such a small amount not to consider it !
agreed and glta
Thanks Food. Congrats to all on a very green play
Talisker Canyons Finance Co
is purchasing it for 100mil read the 8k form
BID WAR !!! Vail Resort vs. Talisker Corp.
Vailoffers 110 millions :) hahahaha. This will ran over 30c today:)
http://www.advfn.com/p.php?pid=nmona&cb=1185868408&article=21660743&symbol=NB%5EAESK
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