CDC Corp. Class A Common (CDCAQ)

[MrBankRoll]

Damn! How many symbols has this POS had!?!?! CHINA, CDCAQ, CHIND, CDCS........ Any more?

Getting close to tax time.... Gotta figure this clusterf*ck out....

[mkinhaw]

All shares cancelled as of 12/20

http://www.otcbb.com/asp/dailylist_detail.asp?d=12/19/2012&mkt_ctg=NON-OTCBB

MK

[Penny Roger$]

I was just looking at that too day dreaming.. Saw it at .50 once but payed no attention.. Too funny.

[TheFinalCD]

WOW what a move from around .08

Date Open High Low Close Volume Adj
Close
2012/03/02 3.91 4.57 3.91 4.57 2,570,005 4.57
2012/03/01 3.95 4.05 3.82 3.98 366,343 3.98
2012/02/29 3.75 3.90 3.75 3.90 181,380 3.90
2012/02/28 3.66 3.76 3.66 3.75 213,171 3.75
2012/02/27 3.65 3.75 3.65 3.75 234,697 3.75
2012/02/24 3.70 3.75 3.65 3.75 232,256 3.75
2012/02/23 3.60 3.74 3.60 3.74 271,244 3.74
2012/02/22 3.55 3.65 3.55 3.64 292,170 3.64
2012/02/21 3.66 3.68 3.50 3.63 251,813 3.63
2012/02/20 - 3.73 3.35 - - -
2012/02/17 3.35 3.73 3.35 3.66 675,767 3.66
2012/02/16 3.27 3.45 3.25 3.45 613,264 3.45
2012/02/15 3.25 3.35 3.25 3.30 261,111 3.30
2012/02/14 3.25 3.33 3.25 3.29 1,150,501 3.29
2012/02/13 3.30 3.38 3.28 3.35 1,278,834 3.35
2012/02/10 3.20 3.40 3.20 3.35 739,776 3.35
2012/02/09 3.01 3.35 2.70 3.30 1,605,858 3.30
2012/02/08 3.21 3.65 3.18 3.19 2,097,841 3.19
2012/02/07 1.68 3.10 1.68 3.05 2,799,647 3.05
2012/02/06 1.36 1.65 1.36 1.50 348,529 1.50
2012/02/03 1.45 1.58 1.10 1.50 1,212,928 1.50
2012/02/02 1.00 1.40 1.00 1.38 1,521,734 1.38
2012/02/01 0.60 1.12 0.60 0.92 681,974 0.92
2012/01/31 0.55 0.74 0.52 0.66 135,830 0.66
2012/01/30 0.44 0.51 0.43 0.51 94,233 0.51
2012/01/27 0.55 0.55 0.42 0.45 40,362 0.45
2012/01/26 0.40 0.50 0.40 0.45 151,602 0.45
2012/01/25 0.35 0.42 0.35 0.40 156,236 0.40
2012/01/24 0.31 0.40 0.31 0.35 7,937 0.35
2012/01/23 0.38 0.40 0.35 0.38 14,321 0.38
2012/01/20 0.30 0.40 0.30 0.40 53,776 0.40
2012/01/19 0.35 0.39 0.35 0.36 32,968 0.36
2012/01/18 0.42 0.42 0.35 0.39 71,609 0.39
2012/01/17 0.38 0.40 0.32 0.39 47,762 0.39
2012/01/16 - 0.43 0.37 - - -
2012/01/13 0.37 0.43 0.37 0.41 24,104 0.41
2012/01/12 0.41 0.50 0.30 0.42 114,986 0.42
2012/01/11 0.44 0.44 0.36 0.43 195,782 0.43
2012/01/10 0.39 0.44 0.35 0.43 128,892 0.43
2012/01/09 0.32 0.50 0.31 0.45 309,989 0.45
2012/01/06 0.23 0.31 0.22 0.28 180,631 0.28
2012/01/05 0.21 0.25 0.20 0.23 190,890 0.23
2012/01/04 0.16 0.21 0.16 0.21 123,053 0.21
2012/01/03 0.15 0.19 0.15 0.17 32,195 0.17
2012/01/02 - 0.17 0.15 - - -
2011/12/30 0.15 0.17 0.15 0.16 234,012 0.16
2011/12/29 0.16 0.17 0.14 0.16 247,819 0.16
2011/12/28 0.15 0.17 0.15 0.16 111,165 0.16
2011/12/27 0.15 0.19 0.15 0.17 236,712 0.17
2011/12/26 - 0.18 0.15 - - -
2011/12/23 0.16 0.18 0.15 0.15 119,697 0.15
2011/12/22 0.16 0.17 0.16 0.16 58,684 0.16
2011/12/21 0.17 0.19 0.17 0.17 186,688 0.17
2011/12/20 0.17 0.23 0.17 0.21 91,828 0.21
2011/12/19 0.15 0.23 0.15 0.20 156,431 0.20
2011/12/16 0.18 0.19 0.18 0.18 43,626 0.18
2011/12/15 0.18 0.19 0.17 0.18 33,640 0.18
2011/12/14 0.18 0.22 0.17 0.18 87,509 0.18
2011/12/13 0.21 0.24 0.17 0.23 60,371 0.23
2011/12/12 0.15 0.21 0.13 0.21 188,125 0.21
2011/12/09 0.11 0.17 0.11 0.17 186,135 0.17
2011/12/08 0.10 0.15 0.10 0.11 14,179 0.11
2011/12/07 0.11 0.13 0.11 0.11 41,914 0.11
2011/12/06 0.10 0.13 0.10 0.11 36,657 0.11
2011/12/05 0.080 0.11 0.080 0.11 184,146 0.11
2011/12/02 0.076 0.090 0.076 0.080 80,663 0.080
2011/12/01 0.075 0.080 0.075 0.078 29,749 0.078
2011/11/30 0.071 0.10 0.071 0.085 68,682 0.085
2011/11/29 0.080 0.085 0.080 0.085 37,330 0.085
2011/11/28 0.070 0.090 0.070 0.090 25,867 0.090
2011/11/25 0.080 0.090 0.071 0.090 29,586 0.090
2011/11/24 - 0.090 0.080 - - -
2011/11/23 0.081 0.090 0.080 0.080 108,904 0.080
2011/11/22 0.080 0.090 0.070 0.081 147,011 0.081
2011/11/21 0.080 0.095 0.080 0.080 213,674 0.080
2011/11/18 0.10 0.10 0.087 0.095 99,485 0.095

[Officeboy]

My personal exitpoint for an little buyout for CDCAQ-Stock
is at 12 § a share.
Here i will sell the half fo my shares.
The with the rest of my Shares i follow CDC in the next steps.
Evtl. Nasdaq Re-Listing, an other things the come in a few days
oder weeks.

[Officeboy]

Can we see 10-15 Dollars a Share in the
next 4-6 weeks ???
Things going wild and crazy round about CDCAQ stocks.
Volume is going up very fast....an the price go from a new high
to a new high - to a new high.

I think on Monday we could see 5 $ or more, and by
end of the next weeks we drive zu 10 $ ??

Hey guys - what´s your opinion ???

[HDOGTX]

Conclusion is anything up to about $6 here looks like a decent buy.

Thank you for your time and sharing this with us!!!

[jaxstraw]

Excellent synopsis. Sticky worthy.

[HKTrader40]

Here is the major info on CDC Corp.

Despite the initial numbers of CDC, which had some consolidated information, here is the correct numbers from the Schedules filed in the case on November 7, 2011.

Total assets per schedule A of $172.5 million. This includes $160.4 million for the interest in their subsidiaries. This includes CDC Software.

Total debts are $108.5 million, which includes $66.8 related to litigation by Evolution CDC and $40.0 million in Intercompany obligations to CDC Software. The $66.8 million is litigation and CDC disputes parts of this and has a counter claim. The 6-K filed on the sale of CDC Software specifically states all Intercompany amounts owed by CDC will be cancelled. At a minimum, this resolves $40 million in debt.

So a worst case scenario would be assets of $12.1 million if the entire $160.4 million related to CDC software and that would be very unlikely.

CDC will get more than $250 million for the sale of CDC Software.

A worst case scenario would be debts of $68.5 million if the litigation claim actually results in a $69 million damage award.

Per the Chapter 11 filing, the O/S shares are 35,180,685.

$250,000,000 + $12,100,000 = $262,100,000
$262,100,000 - $68,500,000 = $193,600,000
$193,600,000 / 35,180,685 = $5.50 per share.

Upsides to the above are that the actual value of all remaining subsidiaries exceeds the zero dollar value included above for BV of CDC’s interest in them and the large claim for litigation is significantly less than listed above. There seems to be little downside to the $5.50 number.

The pending legal dispute in the Chapter 11 case is whether to go forward with the $250 million sale of CDC Software or just sale a part of that company and operate the rest of CDC software as a going business. This is bases on whether selling just a part is worth more to the shareholders of both CDC Corp and CDC Software. So in theory, a ruling that alters the course would be more profitable to CDC. If they move forward with the $250 million sale of all of CDC Software, this would be thru establishing that offer as an initial bid and there would be an auction to see if any other buyers step in with a better offer. This again would be more upside.

Conclusion is anything up to about $6 here looks like a decent buy.

Three key things to read besides the general information in the 6-K to support all of the above.
The Bankruptcy Schedules on assets and debts filed on November 7, 2011 that show the numbers above. The section of the transcripts in the 6-K where the judge specifically talks about CDCA only having two real liabilities in the judgment against them and the Intercompany amount owed to CDC Software. The sections of the purchase agreement in the 6-K where it specifically says CDC is getting $10.50 per share of their stock and that all Intercompany obligations are cancelled.

SECTION 1.02 PURCHASE PRICE. In consideration of the aforesaid sale, assignment, transfer and delivery of the CDC Software Shares, Purchaser shall, at the Closing, pay, or cause to be paid to Debtor an amount, in cash, by wire transfer in same day funds denominated in U.S. dollars, of $10.50 per share totaling $249,788,301.00 (the “Purchase Price”).

SECTION 8.01 INTERCOMPANY OBLIGATIONS. The parties contemplate that all amounts due to or from Debtor or Software International on the one hand and any of the CDC Software Companies on the other hand (“Intercompany Obligations”) will be terminated as of the Closing. The terms and documentation related to such termination shall be mutually agreed by the parties hereto. The parties further agree that, without the prior review and consent of the Purchaser (i) the equity and debt of the CDC Software Companies shall not be restructured or recapitalized in any manner and (ii) any intercompany agreements among the CDC Software Companies shall not be amended or restated in any manner.

Canceling the $40 million debt owed by CDCA adds over $1 more to all the rest of the numbers.

[bobbytx1]

THNKS HD for the heads up

[TOUCAN]

if this dips, will grab some

[TOUCAN]

where was my alert in the $1.70 range ... hehe

[TOUCAN]

nice move here today

[jaxstraw]

At this point in the case I couldn't agree more with some of those figures, the time to buy was last month it seems. Anything now is a crapshoot until certain events unfold.

Thanks. When I get some time I'll peruse some PACER filings. Always a good time, lol.

[YngvaiMalmsteve]

Thanks for your thoughts.

I'll toss out some very, very rough guesses as to how much might be left over, but again these are very rough guesses since, as you said, this case has a long way to go.

Let's assume that the claim from Evolution is upheld and that they have the full $250 million in debt that needs to be repaid. Let's ignore legal and administrative expenses fr now.

They state $377 million in assets; not sure how much they valued CSCY at when they stated that but let's assume it's valued at the $249 million offer. After the sale of CSCY that would bring the leftover assets to $128 million. For simplicity let's assume that sale pays off all of the debt since there's only a $1 million difference.

That leaves us with $128 million in assets. If shareholders got the full stated value for these (which is usually not the case), total cash per share (with 35 million outstanding) would be $3.66. With today's closing price there's not much upside left from here given this optimal scenario.

Of course, usually the remaining assets are sold at a steep discount. If they were sold at a 50% discount, the cash per share left would be $1.83. If the remaining assets were sold at a 75% discount, the cash per share left would be $0.92.

Obviously these are very, very, very rough guesstimates, but they do suggest that anyone buying this at its current level hoping for more is likely taking on a lot of risk for probably little upside.

[jaxstraw]

Judge Paul W. Bonapfel in the hearing 2/1/2012

And as I expressed in colloquy there are two views,obviously,

and one view is that it’s in the best interest of shareholders of CDC Corporation and for that matter, the best interest of shareholders of CDC Software Corporation, that one, CDC Software corporation shares be sold to a third party and therefore, two, that the shareholders of CDC Corporation get cashed out.

This is the monetizing plan that Mr. Kelly and the equity committee are favoring.

And the other, is to do something other than that, to raise — to sell some assets or to get some sort of refinancing based on assets that the corporation has, CDC Corporation has, and use those to pay off Evolution, the major protagonist from the creditor’s standpoint in the case, so that shareholders will receive a greater return of value through a continued operation of the company.

And that’s the other view

[jaxstraw]

They still will go through the claims register and eliminate whatever they can, and from what I have gathered they are also still fighting the claim from the biggest unsecured creditor Evolution (65mm) after the judgement that came down to send this company to seek Ch 11 protection.

But your point is well taken.


The Judges comments really don't hold any water until an RP/DS is presented.

A perfect example ( in reverse) is during the Chemtura bankruptcy the Judge repeatedly said for months there was no value for equity.
This is what he was being told by Debtors counsel and the UCC counsel. It wasn't until after many court hearings that it was laid out through shareholders efforts there was some residual value that he changed his tune.

He did appoint an Equity Committee in this case, which can be construed as a good sign.

but this case has a long way to go it seems before any real value can be assigned.

[YngvaiMalmsteve]

The Chapter 11 documents state $250 million in debt.

http://www.businessweek.com/news/2011-10-05/cdc-files-for-bankruptcy-with-more-than-250-million-debt.html

The $249 million sale would satisfy all of this, but of course there are still legal and administrative expenses. CDC states $377 million in assets but of course CDCSY is part of those assets. And to my knowledge, the rest of the assets in a bankruptcy proceeding are sold in "fire sales".

[jaxstraw]

Other Events.Chapter 11 Filing

On October 4, 2011, CDC Corporation (the “Company”) filed a voluntary
petition under Chapter 11 of the U.S. Bankruptcy Code with the U.S. Bankruptcy
Court for the Northern District of Georgia. The Company believes that the
Chapter 11 process will facilitate restructuring, which is designed to restore
the Company to long-term financial health.

The Company has undertaken the filing to protect all creditors and the
interests of shareholders, in light of the September 8, 2011 judgment against
the Company in the amount of $65.4 million in its ongoing litigation with
Evolution CDC SPV Ltd., Evolution Master Fund Ltd., SPC, Segregated Portfolio M
and E1 Fund Ltd.

The Chapter 11 filing relates to CDC Corporation only, and does not include
its subsidiaries, which are expected to continue to operate in the ordinary
course of business during the Company's Chapter 11 proceedings.

The Company’s principal legal advisor for the restructuring process and
Chapter 11 proceedings is Lamberth, Cifelli, Stokes, Ellis & Nason, P.A.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8177935

[jaxstraw]

Judge Paul W. Bonapfel in the hearing 2/1/2012

and the general assumption is that the Debtor is solvent and so unlike many Chapter 11 cases that we see, this is a debtor were there is actual value to be returned to equity. And the question is how much equity, how to get that equity, how to get or retain it and how to treat the shareholders, that’s after the creditors and other administrative expenses are paid.

But the general tenor of the transaction is that the purchaser will buy the shares that CDC indirectly owns and will offer to buy the shares of the minority shareholders, the other minority shareholders.
And this will produce enough money to satisfy Evolution and satisfy the other claims in the case.
It’s not clear from the evidence exactly how the CDC Software claim gets treated, but presumably it gets treated one way or the other and therefore, after payment of the Chapter 11 expenses, the shareholders would get the rest of the money.

[jaxstraw]

No way to tell without getting into the court docs and Claims Register.
Even then the Company are disputing certain claims.
And from what I have gathered so far, even this SPA sale is a stalking horse sale.

Pursuant to the SPA, the Company has selected the Buyer as a “stalking horse” bidder.
The purchase and sale of the shares are subject to solicitation of higher and otherwise better offers pursuant to bidding procedures approved by,
and an auction and sale process to be conducted under the supervision of,
the Court pursuant to Section 363 of the Bankruptcy Code (the “Sale Order”).
A hearing on the bidding procedures and the auction and sale process has been set for February 16, 2012, by the Court.

Since I just came across this today I haven't even looked at the bulk of info yet..

[jaxstraw]

Update on Bankruptcy Timeline

The Court has also set the following pertinent dates in the Chapter 11 proceeding. These dates represent the current timeline of the Chapter 11 proceeding but may be subject to change in the future:

March 1, 2012 - Deadline for the Company to file its Chapter 11 reorganization plan and the related disclosure statement, and for the filing of any competing Chapter 11 plans and disclosure statements;

March 20, 2012 – Hearing set for the approval of disclosure statements relating to proposed Chapter 11 plans; and

April 26, 2012 - Hearing to consider confirmation of proposed Chapter 11 plans and final hearing to consider approval of the Company’s 363 Sale Motion.

[YngvaiMalmsteve]

Any guess as to how much might be left over to shareholders after all the creditors are paid?

[jaxstraw]

More case history...

JANUARY 18, 2012, 3:20 P.M. ET
http://online.wsj.com/article/BT-CO-20120118-713372.html

UPDATE: CDC Corp Sues Its Subsidiary To Stop Sale

Hong Kong technology developer CDC Corp. (CDCAQ) sued one of its subsidiaries Tuesday to block the acquisition of two companies by a private investment firm, arguing that the sale of these companies would cause CDC Corp. shareholders to "lose substantial value, perhaps irretrievably."

According to documents filed Tuesday with the U.S. Bankruptcy Court in Atlanta, CDC Software Corp. (CDCSY) is seeking to sell two of its subsidiaries, which account for 28% of its annual revenues, to investment firm Marlin Equity Partners for $60 million and has already executed a letter of intent.

The company that owns CDC Software Corp. is a 100% subsidiary of CDC Corp., effectively giving CDC Corp. 98.1% voting power in CDC Software Corp., CDC Corp. said. However, it will take CDC Corp. as long as two months to hold a meeting and exercise its right to remove the board members that voted to approve the letter of intent with Marlin, so CDC Corp. is asking the bankruptcy court to issue an emergency injunction to stop the deal from progressing.

CDC Corp. lawyer Gregory Ellis said he couldn't comment on the pending case but said the case is clearly centered on governance issues and called it "unfortunate that they have to be aired out in the courts."

Monish Bahl, the senior vice president of corporate development for CDC Software Corp., also called the situation unfortunate.

"We just think it's worthwhile to explore all opportunities," Bahl said in an interview Wednesday, adding that the company's goal is "to help our parent get out of bankruptcy."

Bahl said he couldn't comment on whether the company would be canceling their agreement with Marlin but said, "We're going to apply common sense to the situation."

The deal requires CDC Software Corp., which is not a debtor in CDC Corp.'s bankruptcy, to provide up to $300,000 to Marlin to cover expenses, CDC Corp. said in court documents. It's an amount that "is not a prudent use of the limited cash of CDC Software Corporation, and is not consistent with market practices."

CDC Corp. said its financial adviser has advised it that "preservation of the status quo with respect to the debtor's subsidiaries' capital, debt structure, and operations are vital to an orderly and effective reorganization process."

Judge Paul Bonapfel of the U.S. Bankruptcy Court in Atlanta has scheduled a hearing on the injunction on Jan. 24.

CDC Corp. filed for Chapter 11 bankruptcy protection on Oct. 4 with $377.4 million in assets and $250.2 million in liabilities. The company announced in November that it had received notice from Nasdaq that it was being delisted for not filing its 2010 annual financial report, but the hearing is still pending.

[jaxstraw]

Some case history...

http://news.businessweek.com/article.asp?documentKey=1376-LY2FHA1A74E901-3O95BRN0H4CN790PK8S44NVRG9
Jan 20, 2012

U.S. Trustee Appeals Denial of Trustee for CDC Corp.

Even though CDC Corp. turned virtually all corporate authority over to a chief restructuring officer, the U.S. Trustee in Atlanta wasn't satisfied.

This week, the bankruptcy watchdog for the Justice Department filed an appeal from the order of the bankruptcy court authorizing the chief restructuring officer's appointment in lieu of a Chapter 11 trustee.

CDC, a China-based enterprise software developer also known as Chinadotcom, was confronted in December with motions by a creditor and the U.S. Trustee for appointment of a Chapter 11 trustee. To fend off the effort, CDC agreed with everyone aside from the U.S. Trustee in late December on the selection of a chief restructuring officer to exercise almost all the powers that would vest in a Chapter 11 trustee, along with those that otherwise would remain with the board and corporate officers.

The judge also ruled that CDC's exclusive right to file a Chapter 11 plan will end on Jan. 31, at the latest.

The U.S. Trustee nonetheless filed an appeal, contending it was improper on the facts not to impose a Chapter 11 trustee.

The petition listed assets at $377.4 million and debt of $250.2 million. For the first half of 2011, revenue of $158.9 million resulted in a $17.8 million operating loss and a $23.9 million net loss.

The case is In re CDC Corp., 11-79079, U.S. Bankruptcy Court, Northern District of Georgia (Atlanta)

[HDOGTX]

CDCAQ Stats:

2,799,647 Volume
$6,948,600 Dollar Volume
High 3.10
Low 1.68
Last 3.05

[bobbytx1]

Someone got 25,000 shares on BID over 5.00 tom.

[jaxstraw]

$250M Cash with 35M OS = $7.14 in cash per share of CDCAQ.

False.

Read the transcript again.

What you keep missing is that the proceeds of this sale goes to satisfy creditors, it doesn't get added to the bottom line for CDCAQ.

Then the residual after creditors are satisfied, if they are satisfied, might have something to provide to shareholders.


That number will be determined in the RP/DS submitted in the future.

Also read in the transcript that the Judge expects multiple RP/DS submitted. Which means that different parties are going to slice up the proceeds in different ways to benefit their constituency if the sale goes through.

That being said, the Judge does state that in this hearing the overall contention is there is some value left for shareholders, just no idea how much.

[Entangled Proton]

Beautiful close !!!!

[Entangled Proton]

And a way we go !!!!

[HDOGTX]

$250M Cash with 35M OS = $7.14 in cash per share of CDCAQ.

[Entangled Proton]

I saw the new high pop up on my plateform.

[HDOGTX]

Nearly 4mil in $$$ volume now!! I say its getting bought up~~

[JJZander]

2.7s up

[HDOGTX]

I see orders filling above the ask~

[Entangled Proton]

It's starting to look like another run coming.

[Mike of Chicago]

Losing future revenue might be loosely interpreted as merely realizing that revenue now as a lump sum in cash. Sort of like lottery winners choosing to get the lump sum of $600k instead of the 20 years of $50k.

Obviously, whether the lump sum is a winning deal or a losing deal depends on your profit outlook for CDCS. Revenue without profits probably would not have added to CDCAQ's value.

Just thinking out loud. Thanks for the replies.

[HDOGTX]

Still an interesting BK case!! Been reading through that 6k!!

[jaxstraw]

CDCS is 28% OF CDCAQ's annual revenue stream so CDCAQ would be losing that much future revenue.

[HDOGTX]

Yep, CDCAQ's holding in CDC software...5%? 10% 50% 100%?

[Entangled Proton]

CDCSY I spotted it earlier. It still makes for a good play.

[jaxstraw]

The 10.50 is not CDCAQ, it is being placed on shares of CDCS

You are absolutely correct.

In the transcript the Judge does state both trade on the Pinksheets.

CDCS seems to have skyrocketed on the news.

http://www.google.com/finance?cid=7510430


CDCAQ (CDC International) is proposing to sell it's indirect ownership of it's stake in it's own subsidiary CDCS (CDC Software) to Archipelago Holdings.

The proceeds are expected to pay off creditors and return value to shareholders in CDCAQ.

It takes time but read the transcript because it tells a lot more of the story.

The question is , if it is positive value, how much is it ?

No one knows yet.

Many BK cases get positive value for shareholders that is less than what it trades for while in BK.

So it will not be known until Plan of Confirmation and Disclosure Statement are presented in court , which from the transcript is about March 1.

It is interesting to note the Judge is expecting several RP/DS from different parties and is talking about hearings on those in April/May.

[HDOGTX]

IT sure is!!

[Mike of Chicago]

I do not think the 10.50 per share refers to CDCAQ, but instead to CDCS. Still, if true, since there are 35 million shares outstanding, that's $250M/35M or $7.14 in cash per share of CDCAQ. Certainly better than the present $2.5 per share of CDCAQ on the going market. It sounds like the better bet is to buy CDCS, if still possible, since it has been valued at $10.50 per share by this proposed deal. Is CDCS still trading?

[HDOGTX]

A hearing on the bidding procedures and the auction and sale process has been set for February 16, 2012, by the Court.

[MakinBank]

how long until it goes through?

[MakinBank]

can you tell me exactly where in the 6k you see it? thanks

Edit Never mind i found it. its about 8 paragraphs down after the "resignation of director" for those who want to know

[Entangled Proton]

Looks good, but not seeing the hedgies jumping on it is telling me to flip it out b4 closing.

[HDOGTX]

IDK< over 2.6mil in Dollar Volume suggests its within reason~

[Entangled Proton]

I guess this one is looking a little too good to be true.