Barzel Industries Inc (fka TPUTQ)

[Value_Investor]

TPUTQ is up 20% so far! It should test the recent high 0.006 soon...

[Value_Investor]

All the common stock may be canceled after 09/2011 CH7 confirmation!

[Value_Investor]

The previous CH11 case had already been converted into the CH7 long time ago! So TPUTQ will be confirmed with the CH7 bankruptcy in next
month...

[justmetoo]

I see nothing about a move to Chap 7. Just referal on para 7 concerning cancellation.

[Value_Investor]

Thanks! Do you know what is the confirmation day of CH7?

[justmetoo]

BK court notice received states that next hearing will be on Sept 8, 2011. "A hearing to consider confirmation of the plan"......

[Value_Investor]

Do you know when will the company cancel the common shares? Thanks!

[justmetoo]

Barzel shares will be cancelled as per:
"NOTICE TO HOLDERS OF EQUITY INTERESTS IN BARZEL INDUSTRIES, INC: THE FOREGOING MEANS THAT YOUR INTERESTS IN BARZEL INDUSTRIES, INC. WILL BE CANCELLED AND YOU WILL HAVE NO INTEREST OF ANY KIND IN BARZEL INDUSTRIES, INC."

BK court doc received under date of July 26, 2011.

[buddhabelly2]

Yes, dumping is to be expected. Situations like this can not just be explained away. We will need facts.

[Value_Investor]

Large dumping at the current 52-week low or bottom price .001 again!

[Value_Investor]

Today's court news on TPUTQ: Barzel Industries Plan Filed

Barzel Industries filed with the U.S. Bankruptcy Court an Amended Joint Plan of Liquidation and related Disclosure Statement. According to the Disclosure Statement, "The Debtors are proposing the Plan over the alternative of converting the Debtors' bankruptcy cases to Chapter 7 of the Bankruptcy Code because the Debtors believe that (i) the Plan provides a more orderly liquidation and a greater recovery to creditors than a Chapter 7 liquidation, and (ii) the Plan provides unnecessary costs to the Debtors' estates which would accrue should the Debtors' bankruptcy cases be converted to Chapter 7 of the Bankruptcy Code." Under the Plan, administrative claims, priority tax and non tax claims, class 1 miscellaneous secured claims, and class 3 priority non-tax claims are estimated to receive 100% recovery.

[Value_Investor]

Today's news: Barzel Industries Plan Filed

Barzel Industries filed with the U.S. Bankruptcy Court an Amended Joint Plan of Liquidation and related Disclosure Statement. According to the Disclosure Statement, "The Debtors are proposing the Plan over the alternative of converting the Debtors' bankruptcy cases to Chapter 7 of the Bankruptcy Code because the Debtors believe that (i) the Plan provides a more orderly liquidation and a greater recovery to creditors than a Chapter 7 liquidation, and (ii) the Plan provides unnecessary costs to the Debtors' estates which would accrue should the Debtors' bankruptcy cases be converted to Chapter 7 of the Bankruptcy Code." Under the Plan, administrative claims, priority tax and non tax claims, class 1 miscellaneous secured claims, and class 3 priority non-tax claims are estimated to receive 100% recovery.

[Value_Investor]

The CH7 liquidation hearing was rescheduled again to 07/25/2011 at 11:00 AM per the court notice I received yesterday!

[Value_Investor]

Who is the very stupid seller which dumped 100,000 shares at 0.0012?

[Value_Investor]

0.0016 x 0.003 now. The bid is up 33.4% from 0.0012 to 0.0016 now...

[Value_Investor]

Anyway 0.0015 x 0.003 now. The huge sell-offs seem done completely!

[Value_Investor]

Huge dumping at 0.002 this morning! What is wrong here? 1M sell-off?

[Value_Investor]

At least so far I did not see any document to mention that! Anyway I
received the notice today from the company: hearing was rescheduled on 07/21/2011!

[sandtrap246]

You don't think the stock will be cancelled?

[Value_Investor]

Wrong. Any tradeable stock has the real value unless it is canceled!

[sandtrap246]

Unless I'm mistaken, CH7 means the shares will be worthless. Am I wrong??

[Value_Investor]

0.002 x 0.004 now. The asking price was up one tick anyway.

[Value_Investor]

If the buyers buy the shares at 0.0039 then the bid will soon close
or even above the current ask 0.0039. How could you lose 50% if the
price is 0.0039 or above? Last rally it soared to 0.006 from 0.001!

[sandtrap246]

Cheap maybe... but the B/A gap is intimidating. At the close today, the bid was .002 and the ask .0039. At that price, you're guarenteed to lose 50% of your investment as soon as you buy in. Who's going to do that??

[Value_Investor]

It has been significantly oversold and undervalued recently! Cheap!

[sandtrap246]

In your opinion.... what makes you think this is a good buy opportunity? I don't know enough about the company, myself.

[Value_Investor]

TPUTQ is up 17% so far! 0.002 x 0.003 now. Soon testing 0.004~0.006!

[Value_Investor]

.0012 x .0014 now. Someone is dumping large amount of shares at ask!

[Value_Investor]

TPUTQ is up 20% so far! Extremely undervalued as a clean "Q" shell!

[Value_Investor]

Do you know what is the current status regarding to the CH11 filing?

[Value_Investor]

Wow! TPUTQ is down 47.4% today and hit the all time low 0.001 now...

[Value_Investor]

0.001 x 0.0037 now. What is going on here? .001 is the bottom price.

[Value_Investor]

Wow, 5% down so far! 0.0016 x 0.0039 now. The strong supports 0.0019
and 0.002 are broken today! Let's see if the unbreakable support at
0.0016 can hold the bottom. The recent high/low was 0.006/0.0016...

[Value_Investor]

Do you know TPUTQ's CH11 had been converted to the CH7? Do you know
the details and consequences to the common shares after filing CH7?

[Value_Investor]

TPUTQ is up 2.6% so far! Seems bottomed out at .0016 finally & ready
to test the recent high 0.006 again!

[Value_Investor]

Strong up 30% so far! 0.005 ~ 0.006 will soon be tested. OSRC: ready
to soar 1000% as a clean RM shell at only $90K MV. Only 10M shares float and 32% insiders ownership.

[Value_Investor]

The Barzel assets were gone. But the company is not out of CH11 yet!
It could become a valuable shell if no cancellation after exit CH11.

[justmetoo]

You do know that Barzel the company doesn't exist anymore. Why it keeps trading is beyond me. Everything is gone.

[Value_Investor]

Sure. Just several weeks ago TPUTQ was trading at 0.004 ~ 0.006 area
and the shorters or MMs can not keep it at 0.001x ~ 0.002x too long!
CPBRQ seems ready to soar 1000% ~ 2000% with 14M/6M shares OS/float
and 85% insiders ownership. Last rally it exploded to 0.015 or 3000%

[bobbytx1]

As news come the price will go and they will be chasing

[Value_Investor]

Wow, 36% decline today! The OS is only 26.56M shares vs the float is
just 17.84M shares. Yesterday it was up 105.3% from 0.0019 to 0.0039

[Value_Investor]

0.0026 x 0.0039 now. Soon it may test the recent high 0.005 ~ 0.006!

[Value_Investor]

0.0025 x 0.004 now. TPUTQ is finally bottomed out at 0.0016 support!

[Value_Investor]

Someone dumped 95,000 shares at the bid .003 today! The ask is still
at 0.0045 anyway. Time to reverse the trend! Please do not sell at the bid to drag the price down! Instead buy at the ask mainly ASAP!!

[Value_Investor]

TPUTQ is up 12.5% so far and it should retest the recent high 0.005~
0.006 based on the very low floating shares & the market value. Buy!

[Value_Investor]

What you are talking about it? Why ask me for the shares? I did not
sell a single share at 0.004 today!

[MJAM2020]

looks like this just needs some exposure ...

imho
mj

[MJAM2020]

put me in for 100k of the 004's

imho
mj

[bobbytx1]

put me down for 201777 bought today

[Value_Investor]

17.84M shares are floating. Available floating below 0.01 should be much less than 17.84M shares! Only stock transfer agency and company can tell you who bought and sold the shares today. Ask them yourself