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Investing in any ticker including those on the Dow and Nas come with risk. No doubt even more risks on Penny stock tickers than others BUT I would think that most everyone knows that when investing in any ticker. This thing was at 0035 just 7 trading days ago.
Agreed but I worry about the PnD's on these scams and the collateral damage they leave in their wake. What about the poor souls that get left in the dust holding worthless shares while the chosen few move on?
It's actually a little over $3 billion in liabilities if you take out provisions.Slight chance that a large chunk of that debt gets put back into Novo Banco's accounts. This is only if the courts, both in Portugal and London, rule in favor of some junior and senior debt holders challenging transfers from Novo Banco back to BES.
Goldman Sachs, Pimco,etc. are challenging two debt transfers; an $835 million loan transferred from Novo Banco back to BES,this is currently being litigated in London.Also,$2.25 billion in Senior bond debt was moved back to BES late last year to improve Novo Banco's balance sheet and Tier 1 capital ratio for a potential sale.
The Bank of Portugal has gone on the record saying that they will not abide by the London court's decision so how that plays out remains to be seen.
Daniel Loeb head of Third Point, LLC is also challenging the August, 2014 resolution taken by the Bank of Portugal saying it was unfair to shareholders and junior debt holders. His hedge fund controls 40% of the $750 million Euros in junior debt and was also a large shareholder.
The assets are only $159 million Euros as of the latest December, 2015 report; more funds could be recovered in the liquidation of the bank but this could take years.This bank had assets all over the globe although most of the good ones was transferred to Novo Banco with the resolution.
$3 billion Euro in loans issued by BES Angola, BES owned 55% of Angola's second largest bank, was ultimately their downfall. The Angolan government was guaranteeing the loans but reneged after the BOP resolution measures.Nobody knows where the money went,not surprising with the level of corruption there.
$1.8 billion has already been seized from the assets/accounts of former BES CEO Richard Salgado and other former executives. However, the holding company of BES, Espirito Santo Financial Group has several billion euros in debt claims in a Luxembourg court that could take priority over BES claims.
According to an article in a Portugal newspapers, their banking license could be revoked as soon as August 3rd and will than proceed with the liquidation.
Watching and holding a lot of shares of this one but it's a long term and lotto play.
Might be worth a shot on these 0007's
I have not nor will I - don't want to wake up one day to find the ticker suspended.
Sounds like you are ready to grab some shares if you haven't already.
well, then you found the one that isn't a scam nor does it have a crooked CEO...lol...it's just a "Bad Bank" that was spun off from the "Good Bank" and has negative worth of about $5 BILLION due to the debt that was dumped into it. And all the mutual fund companies and institutions that hold it are stuckholders from when there was only one bank with all the assets & liabilities. The good assets remained with the good bank, ie Novo Banco, that is 100% owned by the Bank of Portugal through the Resolution Fund. This has nothing so what you are doing is playing hot potato with ownership of shares until the banking license gets revoked and then the ticker.
99% of these tickers trading on the penny market are scams, crook CEO, no earnings and on and on. People trade the tickers and really don't worry about the companies. In essence, it's pure gambling.
Buying! $$$$$$$ BKESF see ya on the top!
Buying buying! $$$$$& BKESF
yeah....don't worry about the o\s...minor detail...just like the revocation of its banking license or the fact that there is $150 million in crap assets and over $5 billion in real liabilities
I could care less how many the OS is. Obviously many are either held or restricted for this ticker to move like this and not have any shares between 0003 and 0007. Most trip 0's need 100 or 200 million or move a tick.
there are 5.6 BILLION o\s. I already provided you with a link. This is dog poo that is going to have it's banking license revoked shortly. Then who ya gonna call? Even Ghostbusters won't be able to help you get out of your position...lol
Please! BKESF was up 1500% 0035 last Monday on just 9 million shares traded at the time. Any stock that moves 1500% on a mere 9 mil volume suggests there aren't many shares available!
Thanks, Trying to buy all of them
Yikes! Why is this juggernaut tanking?
Maybe because it's an over-hyped worthless stock?
there's still more for ya, like, 5.6 BILLION more......
dog poo...and about to have their banking license revoked...
Zero volume for a heavily promoted pinky like BKESF is bad news for those that front loaded.
CHECK OUT DATES, $BKESF OWNERSHIP, HUGE >>
Mutual Funds that own BKESF >> http://quotes.wsj.com/BKESF/company-people
Institutions that own BKESF >> http://quotes.wsj.com/BKESF/company-people
Huge $5B CITIGROUP GLOBAL Markets Purchased 35.6M SHARES >>>
http://www.bes.pt/Comunicados/20150804%20FR56696_uk.pdf
When I do, I'm right.
You say that about every board
People twisting facts
That's for sure. This is a worthless stock. What's really happening isn't hard to figure out.
"still" being the operative word...
Yes it still has a bid but can someone please tell me other than hype why this will run?
BKESF does not own Novo Bank, the Bank of Portugal does
BKESF is the bad bank and Novo is the good bank.
still has a bid
Once these bids come in people will be pouring in to buy
yeah...it can skyrocket directly to no bid...cause that's what it's worth...move along, nothing more to see here
This can sky rocket with how thin this is.
Who ever just sold at 4 is smart - this is a worthless ticker.
garbage bank with no assets and huge liabilities. Stay away.
Who ever just sold at 4 is insane
Traded over $24, Major Funds & Institutions hold over 1 B shares. Every tick, $100,000.
BKESF runner coming
Super thin! Let's get this moving today! BKESF $$$$
Insanely bad investment as well.
GLTY, Looking and waiting for news. BKESF.
I guess someone isn't mAking money. BKESF $$$
Nice! We should see some nice gains! BKESF $$$
Bought at 2 and averaged down to 1.1, so far. BKESF.
Going to make some money off this!!! $$$$$$
What I was getting at was a ticker does not move 1500% on 9 million shares as this did last Monday if there are a boatload of shares out there. Regardless of the reason for the Monday move, L2 is very thin on this ticker.
Haha!! Making money!!
The OS may appear high but there aren't many shares available on this ticker to have made a move like that on that low of volume.
The "move" was a failed pump & dump by iHub scumbags. This company is dead...stone cold dead. Did you see their 2015 financial statements? $150 million in assets and $5 BILLION in liabilities and a huge sharehdolders' deficiency with 5.6 BILLION shares outstanding. Plug on this will be pulled in August when its banking license is revoked.
Looks like a feeble group PnD to me.
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