Destination Maternity Corp. (fka DESTQ)

[Yukii]

Thanks brother didn’t noticed you responded back to me till now. So as the looks of things nothing going on and we wait. Thanks again ??

[chemist72]

https://cases.primeclerk.com/DestinationMaternity/Home-Index

[Yukii]

Wow pretty quite here!!! Hey guys anyone know what we are waiting for and the next court date? Bored of waiting ??

[propert]

Volume on the order of a few hundred dollars most days. So it's tended to swing hard. Despite what the chart shows, the bid has been only hovering between 0.015 and 0.0175 most days, and that hasn't moved in some time.

[corvatsch]

yes, probably small fish that in uncertainty preferred to sell something ...

[chemist72]

You implying "inside info"?

Wouldn't surprise me. But I prefer to think it was caused by some holders being cautious, just in case things were not filed and another deadline was sought. Some of these folks might figure they can buy in again before the next deadline is reached. Just speculating.

[corvatsch]

in fact, the decline of the last few days seemed strange to me...

[chemist72]

Yep, that's it. For better or worse, I wait.

[corvatsch]

The requested extension of the Exclusive Periods of ninety (90) days to August 15,
2021 and October 17, 2021, respectively, does not prejudice any parties-in-interest and relieves
the potential pressure on the Debtors or any other parties-in-interest to file an insufficient or nonconsensual chapter 11 plan...

[chemist72]

Bankruptcy dockets 1086 and 1087.

Filed late on Friday (5/14/21).

[corvatsch]

Link , please...

[chemist72]

Another 4-6 months of waiting, at least!

Sheesh, what a drag. Fortunately, I don't have that much "invested" here, so theoretically, I could wait for years until there is finally a conclusion to this bankruptcy case.

If I had imagined that this bankruptcy would take 2 years or more, I probably never would have entered at all.

So now its just a matter of what will happen first. Either this case gets closed or I die. Its that simple for me now. lol

Enough is enough DESTQ management. Get off your asses and get this case closed. I don't think this is the most complicated bankruptcy case in history. Take a look at Sears' bankruptcy for example. LOL

[Bring-n da Copper]

Another motion to extend, will it ever end?…

[Zorch305]

awful quiet here.....guess everybody who wanted to take a gamble here is in now

[corvatsch]

sales even if with very low volumes.
maybe they already know that the court will postpone the verdict again in four months?

[Zorch305]

https://cases.primeclerk.com/DestinationMaternity/Home-DocketInfo

[LKat7]

Thank you chemist72 & whoa dude for taking the time to respond to my post. Although I was hoping for someone to say $1, $10 or a wild guess that would pay off my mortgage

I currently hold a small position and am considering adding some more shares, but nothing that will break the bank. Normally I would have SL and TP orders in place, but with this stock taking a more wait and see approach.

[whoa dude]

And the current market cap is just under 600k with only 14 million shares OS... that’s six hundred thousand! Zero or A BIG TIME hero here... the odds have improved for us but it’s still iffy. I figure the risk v reward is worth it. Gotta have a little gambling bug in you to play. But chemist is right... don’t risk more than you can afford to lose. This should be shits and giggles money invested here until the future becomes clearer.

[chemist72]

Can't predict PT, but look at it this way.

MB has approximately $3B in revenues. So no matter how you slice it, if MB merges with DESTQ, its going to be worth a LOT more than it is currently.

Remember though, this is still a risky play as there is absolutely no guarantee that MB will merge with DESTQ. Its a risk vs. reward situation, so I wouldn't recommend risking no more than you can afford to lose.

My plan was to put in a relatively small amount of money until the POR is revealed. Once more is known about their Reorganization Plan, then I may put more money into the reorganized entity.

Hoping for a reveal this month. Most recent deadline for filing the POR is May 17, 2021. However, don't forget DESTQ has already had that deadline extended 4 times by the court.

We'll soon see what happens this time.

[LKat7]

Hi everyone,

Newer to investing, especially in penny stocks. I have been following this board for a while. chemist72, pennystock_es or any one, I wondering you would mind sharing your PT (price target) or anticipated gains if the shares are merged in with MB.

[whoa dude]

Hopefully we get some kind of resolution in 2021... preferably, as you point out chemist72, the kind of resolution that sees MB merging into DESTQs shell. I know it’s been a long road for you ... I thank you and propert for your many contributions to this board. Good luck to everyone here!

[chemist72]

DEST paid off all their bank debt.

Their NOLs were worth ~$200M which at the current tax rate of 20% is worth about $40M. They have a mountain of liabilities and claims (~$32M), most of which will be either rejected or reduced drastically (which why they are in BK).

Marquee Brands paid $50M to buy all of DEST's assets (except the NOLs) and they appear to be making profits off of this brand via internet sales. The fact that MB invested $50M in DEST already, suggested to me that they might be interested in obtaining and using DEST's NOLs (which is why I purchased this stock in the first place).

There are still many months ahead of court procedures before this case is closed. But the closer we get to seeing their POR, the more speculation will increase and perhaps this is the reason DESTQ sp has been increasing lately.

Its been a long hold for me, but the potential reward could be well worth the wait. I'm anticipating a merger between MB and the empty shell (except for the NOLs) of DESTQ. If this is what actually happens, DESTQ (as reorganized) will be much more valuable than it currently is. At its current market price, DESTQ market cap is about $400K. MB's revenues are estimated to be around $3B for all of their brands combined.

[pennystock_es]

Has anyone quantified DESTQ's tax assets? how much can they be valued? DESTQ's current debt, how much is it valued? I understand that these tax assets can only be used if you are interested in Marquee Brands

the ASK is getting higher and higher .. this is an indication of some movement

[chemist72]

I agree with your analysis. Besides the wrapping up with their tax service provider, I would also note the recently filed Monthly operating report (for March 2021) shows that their bank cash balance dropped by only $8,000 during March compared with the balance at the end of Feb. (March ending balance ~$1.774M vs ~$1.782 end of Feb.).

So it appears their Court expenses have dropped to near zero. A POR in May is looking very possible to me. I can almost see the light at the end of the tunnel. Still several more hurdles to get over before this case is closed, but a completion by late summer or early fall is looking feasible to me.

Of course surprises can always pop up, but I just don't see much in the way of a completed bankruptcy sometime before winter.

Its been a "long road" holding this stock for almost a year and a half now, but the reward for holding could be significant. All depends on how DESTQ will restructure. The best scenario imho would be if Marquee Brands decides to go public and merges in with the DESTQ empty shell (empty except for their tax assets (NOLs)).

If Biden succeeds in raising corporate taxes, those NOLs will be worth even more than they are at present.

Keeping my fingers crossed for a POR reveal in a couple of weeks!

[whoa dude]

According to the last couple of dockets that hit, looks like they are wrapping things up with their tax service provider... for services rendered October 21, 2019 to April 30, 2021. Is this an indication things are coming to an end? No more POR delays?

https://cases.primeclerk.com/DestinationMaternity/Home-DocketInfo

[pennystock_es]

And it seems that with volume ago ... Someone knows something $DESTQ ?

[propert]

I absolutely love the recent development.

Surprised we hit 4... but not surprised.

[Zorch305]

wonder how many markers were created when this was down low....seems to have unlimited shares at .04 somebody could buy every share out there cant wait to see a POR on this the way its trading looks like somebody knows something

[chemist72]

Latest POR deadline is 5-17-21.

They have already received 4 deadline extensions, and nothing prevents them from asking for another deadline extension.

However, I suspect a POR will be released this time on or before the deadline. I will be checking the court documents daily once we get into May. If something shows up, you can bet the market for these shares will heat up quickly. jmho

[Zorch305]

yes share structure is same I'm not sure on court date want to say may 18th but unsure haven't been paying attention to this one

[pennystock_es]

do you know the day? It seems that he is encouraged ... to see if we have good news, can you tell if the structure is the same as 14,226,121 ?

[Zorch305]

court date coming up in May they have a POR to file at some point

[pennystock_es]

Ask $DESTQ 0,040 tic tac ..

[pennystock_es]

can someone make a summary? it seems that something is moving in $DESTQ

[Zorch305]

https://cases.primeclerk.com/DestinationMaternity/Home-DocketInfo

[corvatsch]

this means that DESTQ, is selling clothing to customers ...
is an operational and productive company !!!

[pennystock_es]

News $DESTQ: Destination Maternity Customer Data Exposed in Breach
Maternity apparel retailer Destination Maternity said a database containing personal customer information was breached in March

https://risnews.com/destination-maternity-customer-data-exposed-breach

[corvatsch]

https://www.americanbankingnews.com/2021/04/13/destination-maternity-otcmktsdestq-stock-price-crosses-above-two-hundred-day-moving-average-of-0-01.html

[pennystock_es]

the BID is above 0.031 ... interesting

[chemist72]

Interesting trading today. Only 25 total trades, but 12 of those 25 were at or above $.030 -

First time I can remember that happening in quite awhile.

Don't really have an explanation though for the "sudden" buying interest in DESTQ. Just glad to finally see some consistent buying the past two days.

Actually except for a few trades in the morning yesterday, all trades since then have been ABOVE $.020!

[propert]

Thank you for responses. I notice in hindsight the previous monthly bank statements created a creep in buying as well. (Feb 21ish - can't quite call it a surge but we did have volume.) I also note, you had correctly stated, last week's zero volume day was not necessarily a bad indicator. Just meant that the askers were not letting any shares go for under 2 cents, and that's where the bid was. As soon as some bidding interest revisited us yesterday, the share value increased rather significantly.

[chemist72]

Yes, definitely a possibility.

My comments on the Feb Monthly Operating Report.

Cash in the bank is down to $1.5M

There is no way in the world DEST will be able to pay much of the outstanding ~$32M in claims.

Therefore, I expect the following regarding remaining claims against the company.

1) I expect all unsecured claims to be rejected by the Court.

2) I expect a "cram down" for the remaining claims for pennies on the dollar amounts.

3) I fully expect DESTQ to file a claims rejection document in May.

Once most of the claims against DEST are rejected by the Court, I expect DEST to file their POR, likely in May as well.

All the above are just my won opinions.

[propert]

Could yesterday's influx in volume be related to the issuance of their income statement?

[chemist72]

Probably not the reason. Maybe just anticipation of the forthcoming POR deadline in mid-May.

Maybe after a year and a half, DESTQ will finally file a POR.

I believe there was also a bit of trading activity before the last deadline in Feb.

[pennystock_es]

and can this be the cause of the rise ? no Ask and enough volume

thanks

[chemist72]

Marquee Brands has added a couple new brands to their stable:

Body Glove

Sur la Table

https://www.marqueebrands.com/

[pennystock_es]

Any movement today, anything new $DESTQ ?

[corvatsch]

unfortunately not before May ...

[whoa dude]

Yep... getting a little bit of love this morning. Hopefully we have resolution here soon!

[corvatsch]

attention volumes in strong increase
bid-ask
0.021-0.038 ....