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did anybody else get a 990-t form
saying they owed money to federal
Thanks Renee. Too bad ATLS didn't make it, but I am glad to see FINRA taking care of business and getting rid of dead tickers before they can be used in sickening pump and dumps.
ATLS CUSIP suspended. FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
Anyone know why this this has come to life the past 2 days?
looks like i was right this whole time lexus
Glad I got out a while back when I did. Not sure why I even got into it in the first place. It was more of an impulse. Once I started digging into it as much as I could then I left.
Yes, ATLS is doomed. All the assets have been sold off, and the LLC is being wound up and dissolved. They have already said there will be nothing of value left for LLC holders.
Anyone holding ATLS will lose 100% of their investment. GUARANTEED.
My god, the units are WORTHLESS. All the assets have been turned over to the lenders and they are being dissolved. Unit holders receive NOTHING!
https://www.accesswire.com/587962/Atlas-Energy-Group-LLC-Completes-Exchange-with-Lenders
This should not be difficult to understand.
24 million float! The unit could go to $10 if the cons/communist from wall street would stop playing games.
yes I did miss that. thanks for posting. loss my ass on this one
Common sense, AND THE COMPANY, both say ATLS is worthless.
The Company is being wound up, and ATLS holders will be wiped out. They will receive no payments of any kind.
Anyone holding ATLS will lose 100% of their investment.
https://www.accesswire.com/587962/Atlas-Energy-Group-LLC-Completes-Exchange-with-Lenders
Perhaps you missed this? Atlas is worthless and will be dissolved. Unit holders will receive nothing.
https://www.accesswire.com/587962/Atlas-Energy-Group-LLC-Completes-Exchange-with-Lenders
Atlas Energy Group, LLC Completes Exchange with Lenders
HILADELPHIA, PA / ACCESSWIRE / May 1, 2020 / Atlas Energy Group, LLC (ATLS) (the "Company") announced today that, following lengthy discussions with the lenders (the "Lenders") under its first and second lien term loans, as amended (the "Loans"), it has completed an exchange pursuant to an exchange agreement (the "Exchange Agreement") with the Lenders. Former members of management of the Company hold an approximately 12% interest in the Loans. The original principal balance of the Loans on March 31, 2016 was $70.9 million.
In consideration of the Company's significant liquidity issues, declining resources and increasing debt, the Company believes this restructuring is the only practicable way to satisfy its outstanding obligations of approximately $108.5 million under the Loans and provide for an orderly and expeditious resolution of the Company.
Pursuant to the Exchange Agreement, in consideration for the satisfaction and discharge of all obligations of the Company under the Loans, the Company transferred to the Lenders (the "Exchange Consideration"):
an 80.01% membership interest in Atlas Growth Partners GP, LLC and 500,001 common units representing limited partner interests in Atlas Growth Partners, L.P.;
1,250,000 shares of stock of Falcon Minerals Corporation (valued at $2,850,000 as of April 28, 2020);
$1,100,000 in cash; and
3,165,405,210 newly issued common units of the Company (which represents an amount equal to 99% of the Company's fully diluted pro forma voting and economic interests).
The parties have agreed that the newly issued common units of the Company will be valued at the volume weighted average trading price per common unit over the five consecutive trading day period ending on the tenth trading day after the date of this announcement.
Following the transfer of the Exchange Consideration, the Company's primary remaining asset is 100% of the membership interests in Titan Energy Management, which owns a 2% preferred member interest in Titan Energy, LLC, an exploration and production company. At this time, the Company does not anticipate an economic recovery from its interests in Titan Energy Management.
As a result of the transaction, the Company expects that its unitholders may recognize cancellation of indebtedness income ("CODI") equal to the excess of the adjusted issue price of the Company's obligations under the Loans over the value of the Exchange Consideration. The CODI will be allocated to the Company's unitholders who held their units immediately prior to the effective time of the Exchange Agreement and will be reportable on such unitholders' separate tax returns.
Following the transaction, the Company expects to proceed toward an orderly liquidation and dissolution, subject to approval by the holders of a majority of its outstanding common units.
For more information, please visit the Company's website at www.atlasenergy.com, or contact its investor relations department at investorrelations@atlasenergy.com.
Cautionary Note Regarding Forward-Looking Statements
Certain matters discussed within this press release are forward-looking statements. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The Company does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. The Company cautions readers that any forward-looking information is not a guarantee of future performance. Such forward-looking statements include, but are not limited to, statements about future financial and operating results, resource potential, and the Company's plans, objectives, expectations, intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production; tax consequences of potential balance sheet and other transactions; and global health conditions, including the impact of COVID-19. Forward-looking statements speak only as of the date hereof, and the Company assumes no obligation to update such statements, except as may be required by applicable law.
ATLS management is owned by atlas. also atlas has rights with titan energy. and atlas has no debt any more. twist it and turn it any way you want. no bankruptcy
Do you read SEC filings? ATLS only owned 80%. The public owns the other 20% of Atlas Growth Partners!
From the Atlas Growth 10-K filed 3 weeks ago:
"Atlas Energy Group, LLC (“ATLS”), a Delaware limited liability company, manages and controls us through its 2.1% limited partner interest in us and 80% member interest in our general partner. Current and former members of ATLS management own the remaining 20% member interest in our general partner."
ATLS has nothing left! That 80% and 2.1% limited partner interest was all they had, and now it is gone, swapped for the debt. This is not a difficult concept to understand.
read again the loan company got 80 percent. let me draw you a picture. 80 from 100 = 20 percent of assets.
Did you read the SEC filing? They own NOTHING. The 80% ownership was traded for the debt!
ATLS owns no assets. They were stripped. The LLC is defunct and worthless.
they own 80 percent and no debt. you can twist any way you want so sad ,
ATLS owns nothing. The assets are gone.
And bankruptcy was probably too expensive. They just decided to turn over the assets to the lender. Since there are no assets left, they will almost certainly just dissolve the LLC. Exact same outcome as a bankruptcy filing.
Anyone holding ATLS will lose their entire investment.
wrong Atlas Energy Group, LLC still owns 20 percent in the subsidiary which will probably be a separate company now. and there no debt now the subsidiary has it now. that means atlas enery group will get 20 percent of the profits. and will be debt free. unit holders could get dividens and the company could raise money in the future. also where this bankruptcy you where saying was going to happen. you screwed up on this one.
ATLS is worthless. The remaining assets have now been stripped from the LLC and transferred to the primary debtholder.
All that is left is some remaining liabilities. And, as an LLC, it has zero value as a shell.
ATLS is likely to be wound up soon and disappear forever. And ATLS holders will lose everything.
No, the SEC filings are for the other related company that is still registered.
ATLS is effectively dead. All their assets are now gone, and all that is left is the remaining liabilities.
ATLS units really have no actual value.
looks like the lending company that had all the loans took over. traded the debt for the company. got rid of the old board and put a new board of directors. also hired two new companies. one to file all sec reports and a investor relations to call for investors. now we can call and talk to some one. also a company in oil business to run the company. https://www.sec.gov/Archives/edgar/data/1572702/000119312520132515/d923443d8k.htm
NG1 will double in price by end of the year.
Also 80% of there exposure is NG1
Common sense is the stock is worthless and going to zero.
Bankruptcy can occur at any time.
Common sense only upside from here! With no resitance over .02 little at .05 range
BS. At $10 oil, they are NOT cash flow positive.
Not even close.
Their oil hedges expired a long time ago.
ATLS is worthless.
We are sitting at triple bottom!
Cash flow positive ENERGY play???? Where can you find that anywhere? You can't!
The street needs to wake-up low float and it moves fast with volume!
No to little debt & there oil is hedged at $52.00 barrel
Now both company are cash flow positive! April 2020
Atlas is the parent company to Titan Energy (TTEN) they went bankrupt 2 years ago!
ATLS is worthless. They were losing massive amounts of money at $50 oil. Just think how they are doing at $10.
And real companies update their websites regularly. ATLS' website hasn't been updated in 2 years and they are completely dark.
Bankruptcy could occur at any time.
Not true! ATLS is MLP play
ATLS is finished. The decline in oil prices to about $10 a barrel is the confirmation.
Assuming they still have any assets left, a bankruptcy filing is almost assured here. But who knows - they haven't even bothered to update their website in over 2 years!
ATLS trading above the 50MA & 200MA
ATLS 32 million outstanding with positive cash flow!
Stop wasting you're time on bloated pigs OTC!
Going to test the previous micro high at .0224
Owns TTEN & FLMN
24 million float MLP play
WAKE UP,YOUR TRASH CAN IS ALIVE$$$$$
ITS GOING TO ROCKET OFF THE ROCKERS$$$
THAT IS FANTASTIC NEWS, NOW WHERE IS THAT NEWS YOU DIRTY SCUMBAG,STOP TALKING AND TAKE OUT THE NEWS
TEXAS ALL INN BABY!! WE LOVE MEAT
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