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I love those numbers! $10-$20 would be phenomenal, but I would be happy with $1-$2 which seems more realistic to me. There have been multiple extensions, is there some point where the courts wont allow any more? I am going to keep holding my 'lottery tickets' for as long as it takes.
LOL, so would I. But those are just fantasy prices right now.
First DESTQ must submit a POR. Then the POR needs to be accepted by the court and an effective date established.
Then a new ticker/name would need to be obtained from FINRA and an exchange rate of old DESTQ shares for new shares determined.
Then fins need to be filed so that company can become current according to OTCM rules.
So lots of step to go before a maximum valuation can be obtained. Will take at least another year and maybe even longer.
How many are prepared to hold DESTQ shares that long??
$10-20/share ?
I would be a millionaire ....
IF DESTQ shell is merged with Marquee Brands and their roughly $3B in brand sales, I'd say $100-200M market cap would be plausible!
How does $10-20/share sound? Now that's what I would call a lotto "jackpot". LOL
20 million dollars cap could be plausible.
$ 2 per share ...
I truly have no idea.
But that's why this is an ideal "lotto" play. You either go bust, or you get rewarded many multiples of what you paid for your "tickets".
With a possible reorganization of the company, and zero debts, in your opinion what would be the new cap. market for DESTQ?
thank you.
By this Motion, the Debtors request the entry of an order, pursuant to Bankruptcy
Code section 1121(d) and Bankruptcy Rule 9006(b)(1), granting an extension of the Exclusive
Periods. Currently, the Exclusive Periods are set to expire on August 15, 2021 and October 17,
2021, respectively.4
The Debtors request a ninety (90) day extension of the Exclusive Periods to
November 13, 2021 for the Exclusive Plan Period and January 15, 2022 for the Solicitation Period,
pursuant to Bankruptcy Code section 1121(d).
16. Such an extension of the Exclusive Periods is without prejudice to the rights of the
Debtors to seek further extensions thereof
I am going to hold as well. Worst is total lost, best is small profit. Zero or Hero right?
I received a follow-up regarding the delisting of DESTQ from TD again. They suggested options from TD are pasted below. Is anyone transferring their shares? If yes, where to?
Take no action. You are not required to sell these securities; however, starting September 3, 2021 we will restrict these securities to liquidation-only transactions. You may continue to hold them, but you may have difficulty selling them in the future and there is no guarantee as to what their future value will be.
Place trades to liquidate. You may place trades to liquidate these securities now. Due to the uncertainly, we cannot guarantee there will be sufficient liquidity to close your position(s) in the future.
Transfer your positions to another financial institution. Other U.S. financial institutions are also impacted by this amendment so you may have difficulty transferring them out of TD Ameritrade. If you are interested in transferring the assets, please submit any outgoing transfers requests to us. (These transactions may incur fees or commissions, depending on the asset type.)
Given up trying to make timeline predictions for DESTQ.
After 7 POR extensions, seems like neither the company nor Marquee Brands (who purchased all of DEST's assets, except for the NOLs) are in any hurry to close this BK case.
In any case, I've decided to hold ~$1K worth of DESTQ shares until the bitter end, whenever that might be. I fully expect DESTQ shares to be demoted to the grey sheets come Sept. 28. However, since I'm only holding $1000 worth of shares (my purchase price), I will continue to hold until this BK case is resolved.
It can't go FOREVER. At least I think it can't, LOL.
this time (mid-November) will be the definitive one ...
DESTQ recently filed another requested extension to mid-November.
So probably no POR until mid-November at the earliest.
in my opinion ... before mid-November ...
"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"
actually, mid November
read well....
I wrote mid-September !!!
today is August 16 and nothing has happened ... is there anything new in DESTQ ?
for something big, not before mid-late September ...
of course it's my guess ...
August 15th is right around the corner. Are we expecting something to happen with the date or do we have to continue to wait until October?
My gut feeling, and hope is that once all of the claims are settled, company can still pursue a refund of overpaid back taxes with the Internal Revenue Svc rather than carrying forward the losses, just claiming the refund which is capped at up to 80% of the company's profits for the last 5 years. KPMG looked into this provision over a year ago then I don't know what became of the research. Seems they are still within the "window" for filing an amended return. I do not know what happens when that windfall gets collected but it would appear to be within the realm of what's possible and that's why I continue to hold my 20,000 shares which are worth saving as a lottery ticket in my opinion. Whichever institution recently sold over 200,000 shares for squat... I think it was foolish, but that's their prerogative.
https://tax.thomsonreuters.com/blog/how-the-cares-act-affects-net-operating-losses/
Yep. Give'em another 6 months. Maybe they'll get it done in 2022. LOL
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..
I don't believe in anything new ...
at least until the end of August-September ...
Today high volume in $DESQ, any news?
I have a lot of patience, now nobody wants $DESTQ, today I dreamed of a quote of 0.2
As this continues to trade at 1.2 cents, which is right around where it was trading prior to that recent huge sale going through, I remain convinced that one seller was responsible for the huge dip. Unknown is whether they listed all its shares at market, or if they chose a limit price of 0.0014, and missed a decimal point! Either way, that's an irresponsible method of trading especially given that there was no news that would have precipitated any such a sudden 90% drop in share price. But I guess some institutions have money to burn, or else really wanted to write this off.
Again, Thank you for responding. I certain hope the shares don't get canceled. This was a gamble play for me, but I would love to see $1 or more per share when it is all said and done. GLTA
Haven't thought that far ahead yet.
Before I do, I first want to see the POR. If DESTQ shares are NOT being cancelled, then the POR should give some information on what will happen with the old DESTQ shares.
At a minimum, DESTQ shares would need to be exchanged for shares with a new ticker symbol. A name change would probably be in order as well. I believe FINRA would be the one involved with those changes.
As the transition from DESTQ shares to a new ticker progresses, there would be a period of time (usually a few weeks) when the new shares would be difficult to trade. Once the new shares get officially listed on OTC Markets, they would have to become "current" by OTC Market rules.
Unfortunately, I don't know how long this process might take in the current market environment. Of course, if the new company wanted to list directly on NASDAQ or NYSE, that might actually be the easier thing for them to do.
All is just my own opinions.
Thank you for responding to my question. One would think/hope that when DESTQ releases it's Plan of Reorganization (POR) that the proper financials will be filed and it will come off the list.
I had received & read the same information from TD about the implementation new laws for OTC stocks.
What I am not sure I fully understand is what happens to stocks that we own if DESTQ becomes Custody-Only Trading. Does TD continue to hold them and only allow sales OR do they get converted to the stock holders name as described in investopedia?
https://www.investopedia.com/terms/c/custodyonly.asp
Here's what TDAmeritrade had to say recently:
If the worst case were to happen what would happen to shares that people own purchased through a broker like TD?
in the worst case, DESTQ's small structure may be a candidate for a custody petition, Market Cap Market Cap 168,580 07/26/2021
You got a great average cost.
Hope DESTQ comes through with a POR before the end of 2021. If the POR shows any sign of a reorganization with Marquee Brands, all current shareholders will do very well.
If not .... This was always a "lotto play" for me from the beginning anyway.
I have taken the opportunity to average, my average is 0.0100, I like the low AS of only about 12,000,000 to bad DESTQ it can become a good SHELL
TD showing .007 as the price right now. Is anyone else considering adding to their position?
Me too. It says liquidations only starting August 13.
Wow coincidental timing…just got the same notice this evening from TDA about a few I’m holding, but I was able to place a buy today…I’ll try tomorrow and see if that changes.
I was able to add more today through TDA…and will continue to grab some under .01. Not risking tons, but still worth the gamble to me if it comes out from BK with a play to be made.
WARNING: DESTQ shares may become untradeable after Sept.28 when the amended SEC rule goes into effect.
DESTQ is already on TDA's restricted securities list as follows:
Nope. Bankruptcy case must first be resolved/closed.
We have to wait until DESTQ files a POR (Plan of Reorganization) with the bankruptcy court.
I have been waiting for more than 19 months for such a plan to be filed. As of today, I don't know what to expect when the next POR filing deadline is reached in August.
I continue to HOLD my shares and wait.
In the current state of bankruptcy, could someone ask for custody and take advantage of tax assets?
this is the Share Structure on OTC market ...
https://www.otcmarkets.com/stock/DESTQ/security
Marquee Brands Plans For Growth Within Maternity Brands With Secured Credit From Second Avenue Capital Partners
NEWS PROVIDED BY
Motherhood Maternity
Jun 29, 2021, 10:05 ET
https://www.prnewswire.com/news-releases/marquee-brands-plans-for-growth-within-maternity-brands-with-secured-credit-from-second-avenue-capital-partners-301322129.html
Very Good Post ¡¡ $DESTQ
Amazes me that with that kind of selloff, the seller didn't even protect their interests and set a bottom of like 0.0075 at least. So they got taken to the cleaners. With many of the shares going for a mere 0.0014, could it have been a "fat finger" discount? All of those shares put on the market at once, somebody cleaned up big time but the share price is really depressed now. With the low volume, liquidity has always been a concern for us longs, hopefully now the spring is loaded and we can enjoy a recovery back to 0.02's, before long.
Those were some cheapies. Back to ..0173
~700K sold this morning. If the seller had inside info, this ticker is toast.
Oh well. DESTQ was a "gamble" from the beginning.
In 3 months it will be about 2 years since they filed for bankruptcy. Didn't expect this case to go that long.
And its not even close to being over yet! lol
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 ??
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The Sought-After FIXED Super Tiny SS alone worth $0.0703 a share!
The Super Tiny Float --- 9,427,195 shares!
The Super Tiny OS --- 14,226,121 shares!
Huge Insider's Ownership: 34% of Entire OS!
The Super Tiny AS --- 20,000,000 shares!
Case No. 19-12256 06/29/2020
OptionsDaily at 05:00 for Destination Maternity Corporation Case sent to
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The nation’s largest retailer of maternity wear has filed for Chapter 11 bankruptcy protection amid sagging sales, increased competition and changing customer tastes.
Destination Maternity listed $260.2 million in assets and $240 million in debts in its filing with the U.S. Bankruptcy Court in Delaware.
The company, which in August announced it was reviewing strategic alternatives,
including a possible sale, said the process has “already yielded indications of interest from several credible bidders.”
To fund its operations during the Chapter 11 process, Destination Maternity obtained consent to use cash collateral from all of its prepetition secured lenders.
In connection with the agreement, binding bids for the company must be submitted by December 5, 2019, with an auction to be held on December 9, 2019.
The bankruptcy court must approve the sale by December 12, 2019.
Destination Maternity said it intends to use the Chapter 11 process to optimize operations, including right-sizing its brick-and-mortar store footprint.
“In a challenging retail environment, we have had to make some very tough choices, but we are confident that the steps taken today provide an opportunity
to continue a marketing process that provides the most efficient means of maximizing value to our stakeholders,” said Lisa Gavales, chair of the Office of the CEO,
which was created in June to oversee the chain during its search for a CEO.
“Throughout this process we will be focused on developing the promising interest already shown by potential bidders, and maintaining operational momentum toward a stronger business.”
As of August 3, 2019, Destination Maternity operated 446 stores in the U.S., Canada and Puerto Rico under three banners: Motherhood Maternity,
A Pea in the Pod and Destination Maternity, along with 491 leased departments in department stores and baby specialty stores throughout the U.S. and Canada.
It also operates international stores via franchising. Net sales for the first six months of fiscal 2019 decreased 10.3% to $179.1 million.
It reported a net loss of $14.3 million in fiscal 2018. Kirkland & Ellis LLP is acting as the company’s legal counsel, Greenhill & Co is acting as investment
banker and Berkeley Research Group is serving as Destination Maternity’s restructuring advisor. BRG’s Robert J. Duffy has been appointed as the company’s chief restructuring officer.
Nov. 30, 2019 8:04 pm ET
Bankrupt retailer Destination Maternity Corp. will shut down its remaining 235 retail stores under a deal
that would see a licensing firm buy the company’s brand name and other assets for $50 million.
A licensing platform backed by Neuberger Berman Group LLC has agreed to acquire the e-commerce business,
brand name and intellectual property of bankrupt retailer, according to a filing in U.S. Bankruptcy Court in Wilmington, Del.
Case No. 19-12256
Attachments: Related: 890email | 06/27/2020 | |
909 | Attachments: Related:email | 06/26/2020 |
908 | Attachments: 1, 2, 3 Related:email | 06/26/2020 |
907 | Motion to Appear pro hac vice OF WILLIAM M. BUCHANAN. Receipt Number 3020943, Filed by Invata, Inc.. Attachments:Related:email | 06/26/2020 |
906 | Motion to Appear pro hac vice OF GILDA M. ARROYO. Receipt Number 3020943, Filed by Invata, Inc.. Attachments:Related:email | 06/26/2020 |
905 | Attachments: Related: 896email | 06/25/2020 |
904 | Notice of Appearance. Filed by Invata, Inc.. Attachments:Related:email | 06/25/2020 |
903 | Attachments: Related: 891email | 06/25/2020 |
902 | Attachments: 1 Related: 879email | 06/25/2020 |
901 | Attachments: Related:email | 06/24/2020 |
900 | Attachments: 1 Related:email | 06/23/2020 |
899 | Attachments: 1, 2 Related:email | 06/23/2020 |
898 | Attachments: Related: 774email | 06/23/2020 |
897 | Attachments: Related:email | 06/22/2020 |
896 | Attachments: Related: 23, 285email | 06/22/2020 |
895 | Attachments: Related:email | 06/22/2020 |
894 | Attachments: Related: 856email | 06/22/2020 |
893 | Attachments: Related: 855email | 06/22/2020 |
892 | Attachments: Related: 854email | 06/22/2020 |
891 | Attachments: 1 Related: 285, 852, 889 |
https://www.otcmarkets.com/stock/DESTQ/disclosure
https://www.otcmarkets.com/stock/DESTQ/news
https://www.otcmarkets.com/stock/DESTQ/security
https://www.otcmarkets.com/stock/DESTQ/profile
https://www.otcmarkets.com/stock/DESTQ/quote
https://www.otcmarkets.com/stock/DESTQ/overview
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