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If you can’t understand New Shares being issued and squirting equity is safe, I highly recommend looking for a new hobby
What ever the hell that means...at times you post like a bot.
Sure, new shares being issued are for the homeless and existing equity is safe LoL
LoL
LoL
LoL
You are right I see it...even though it might be taken out of context from the overall picture of what is going on or what might happen in the bid/auction process...as for me I do not have enough experience in BK plays to know what the hell is going to happen that is why I have taken my 130% and sitting on the side lines...I have watched this so close that I will learn a lot from the outcome regardless if I re-enter or not and if I regret it or be happy that I did or didn't...then so it be.
That document says nothing about share cancellation and when I looked up sections 328(a) and 1103(a) of the bankruptcy code and bankruptcy rule 2014 and 2014-1 in which PSZ&J are being granted it talks of the power and duties of committee and Limitations of compensation on professionals an Employment of professional persons...I don't see any thing about share cancellation....so please show me a deeper link that actually says shares are being cancelled because I really did try and find it.
https://www.law.cornell.edu/rules/frbp/rule_2014
https://www.law.cornell.edu/uscode/text/11/328
https://www.law.cornell.edu/uscode/text/11/1103
I posted kccllc countless times. Here let’s try this again LoL
Page 19 - Common Stock to be cancelled without compensation:
8. Class 8 - Existing Equity Interests ?(a) Classification: Class 8 consists of all Existing Equity Interests. ?(b) Treatment: On the Effective Date, all Existing Equity Interests shall be cancelled, ?released, extinguished, and discharged and will be of no further force or effect. Holders ?of Interests shall receive no recovery or distribution on account of their Existing ?Equity Interests. ?(c) Voting: Class 8 is Impaired under the Plan. Holders of Allowed Interests in Class 8 are ?conclusively deemed to have rejected the Plan under section 1126(g) of the Bankruptcy ?Code. Therefore, such Holders are not entitled to vote to accept or reject the Plan.
https://www.kccllc.net/cyxtera/document/2314853230807000000000001
F’ing Hilarious
And I will click your link that you provided...thank you for that link.
Pardon me!...have I been saying rah rah rah on this stock...have I been promising great outcomes and telling others that they are fools for selling or telling that they should buy or hold the stock...I post about a stock and at times even show links that have credibility or prove credibility and highly appreciate others that do as well, negative or positive...I talk I discuss of stocks that I am in, may get in, or already have been in and out of with the sole purpose of making my decisions of how I should play the stock and just to learn in general...so what is your reason for posting?...bashing?...so if I am a pumper for posting with a positive attitude what is the opposite with a negative attitude...a basher...right?
you're determined to continue pumping the stock.
Watch the court docket here:
https://www.kccllc.net/cyxtera/document/list/5868
Plan was filed yesterday, check for the hearing on the plan if you're determined to continue pumping the stock.
Ok then what is that date?
Once the plan is made effective, shares are gone, that's the only date that's being waited on
Nope...
The reorg plan cancels the common stock. There is zero chance the creditors will be made whole, that's why they put the cancellation in the plan.
Once the plan is made effective, shares are gone, that's the only date that's being waited on. Until then, it's a game of chicken between the con artists lying to people to get them to buy the stock.
I am hearing that it won't be until a later date before it is known...I think it has to go through the bidding/auction process first all starting Aug 16 2023...here look for yourself on the link that KIR provided a couple of different times now...and even then it may not be announced until court certifies the winning bidder around late September...other than that I am not sure.
Link to auction dates: https://www.kccllc.net/cyxtera
I m hearing commons are canceled, what are you hearing?
I m hearing commons are canceled, what are you hearing?
TIA
Did ya hear commons are cancelled? Where have I heard this before?
Hmmmmm
LoL
LoL
LoL
HaHaHaHaHaHa
LoL
LoL
LoL
Have you read where the plan now is to cancel all commons?
Strange how the deflection is kindergarten LoL
LoL
LoL
It kind of surprises me the way this ran up yesterday on the day of the original auction date which is now set for August 18th.
Some body gonna get jail time for that. Classroom respect back in the day. Very much lacking today especially when teachers get beat up for taking phones away from kids cause they cant put them away during class. Back to CYXTQ lets kick some azz today.
Naw I'm good thanks.
Save the stars for those y'all march into the gas chambers.
Lolzzz
Boy, have things changed.. I remember my father telling me stories of the nuns slapping their Knuckles so hard with the ruler they would bleed..
Can you imagine now what would happen
Yea, before it became some type of abuse. She is smarter than me why cant I have a star..Blahhh
In kindergarten, we used to get a star on our forehead..
JS
You want a star to stick on your fridge lol
The misinformation campaign on other social media is flourishing.
Well Market seems blind to it as it is green today !
Got to love the OTC
Totally unpredictable
Nobody does DD anymore lol
Lots of crying, but I just see green????
LoL nahhhhhh say it ain’t so LoL
Lol, quite a few of us predicted the outcome based on a realistic assessment of the financial situation.
How did anyone miss all those posts?
On the contrary, all it takes is a look at the company's balance sheet, cashflow, and news leading up to the bankruptcy to reasonably predict the outcome, which is what was done. Shareholders always get screwed in bankruptcy, just a matter of how much. Best outcome is their stock gets significantly diluted. This, of course, is the worst outcome.
Shorts get a free pass on cancelled shares
It’s their dream outcome
Until the outcome is documented no one could predict the outcome
Risk management must be used in these type of plays
Oh, is this supposed to be a con your fellow man hype fest?
Which has been the realistic outcome since jump.
Why are you here? Your just negative.
As I said, I have no experience with that unique situation.
It's merely a deduction.
Thanks HB, Google said shorts would be golden,
but the info was not from a reputable site so who knows...
OUCHY MAMA..WATCH OUT BELOW
I wouldn't short a BK stock and find out. They are subject to extreme irrational volatility, same as a run of the mill OTC scam.
So I don't know, but logically I would assume any position caught short in a common share cancelation event would be on the hook. After all the shares were borrowed on margin.
Anybody have reputable link that states what shorts,
get after common shares dissolved when BK finalizes?
If they wait until then, do they get nothing like longs, or do they get the difference between what they shorted at and $0.00?
Thanks!
Oh well
Win some
Lose some
Depends on how the business performs after they emerge. I expect they'll have enough cash to burn for a year or so coming out of it. If they have growth towards profitability, people will buy it.
You think a single current investor is going to buy their new stock ?
They lost their investor base included large investors who won’t touch this company
Good luck raising money …
It is a very common outcome in these Chapter 11 re-orgs. Creditors get a huge chunk of the equity ownership of the company, and the very best that the "old" shareholders can hope for is they get the bejeebers diluted out of them. More often than not, the equity given to the creditors is new stock, and it also allows the company to raise capital by selling the new stock.
It's why it's very important to watch your investments closely if they seem to be teetering towards bankruptcy, and to stay far far away from the stock of companies already in it. And I don't care how much social media was able to pump this stock off its previous bottom, this was never a worthwhile investment since the bankruptcy was filed.
So Company clears its debt and fu$ks it’s shareholders
Nice company…
Page 19 - Common Stock to be cancelled without compensation:
8. Class 8 - Existing Equity Interests ?(a) Classification: Class 8 consists of all Existing Equity Interests. ?(b) Treatment: On the Effective Date, all Existing Equity Interests shall be cancelled, ?released, extinguished, and discharged and will be of no further force or effect. Holders ?of Interests shall receive no recovery or distribution on account of their Existing ?Equity Interests. ?(c) Voting: Class 8 is Impaired under the Plan. Holders of Allowed Interests in Class 8 are ?conclusively deemed to have rejected the Plan under section 1126(g) of the Bankruptcy ?Code. Therefore, such Holders are not entitled to vote to accept or reject the Plan.
https://www.kccllc.net/cyxtera/document/2314853230807000000000001
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