Diomed Holdings Inc. (fka DIOMQ)

[sidedraft]

DIOMQ: REVOKED

ORDER MAKING FINDINGS AND
REVOKING REGISTRATIONS
BY DEFAULT

This Order revokes the registrations of the registered securities of Diomed Holdings, Inc. (DIOMQ),1 EnerLume Energy Management Corp. (ENLU), GlycoGenesys, Inc. (GLGSQ), and Greater Atlantic Financial Corp. (GAFC) (collectively, Respondents).2 The revocations are based on Respondents’ repeated failure to file required periodic reports with the Securities and Exchange Commission (Commission).

http://www.sec.gov/litigation/admin/2012/34-68126.pdf

[Renee]

DIOMQ: SEC Suspension:

http://www.sec.gov/litigation/suspensions/2012/34-67933.pdf

ORDER:

http://www.sec.gov/litigation/suspensions/2012/34-67933-o.pdf

[dialer55]

Guess it can't any deader than dead dead.

[instructmba]

THIS IS DEAD DEAD.

BCNU
Instructmba

[dialer55]

Just wondering, anybody know if this is dead?

[RULiquid]

.003 x .004

[LongTrmStox]

not much volume here...looks like we had a new nibbled thismorning around the open...

[RULiquid]

looking good

[LongTrmStox]

may pick a few up here...

[dialer55]

Still sitting on a few, don't have any idea if they will ever be worth anything.

Anyone heard anything on this.

[instructmba]

Okay and no problem... sure pray your hopes become fruitful.

BCNU
Instructmba

[knulp]

Ok thanks. I have read in this forum youur efforts to create a committee for commons but judge denied it...
I hope equity will be not cancelled, clear information about this chapter 11 here seems very hard to collect.

i'm waiting and hoping

[instructmba]

knulp,

Thanks for the best wishes. The shell is worth something and I even mentioned it to the Judge and gave him some references to read regarding values. However, like I said, the Judge disagrees that there are more assets than liabilities and they will sell off everything to help pay back the Creditors which will leave nothing for the Common.

MOSH is a publically traded Trust that as some of the Beneficiaries bringing suit agaist the Trustee (JPM) the General Partner (PXD) and Woodside USA. You can be sure that the Texas Judge in this case is giving MOSH a fair hearing and if justice prevails we will see these three crooks pay for their lack of duty to the Trust.

You can get more info at the MOSH board here at IHUB.

Hope you buy some and join in on the fun.

BCNU
Instructmba

[knulp]

well, first of all I don't know what's mosh...
then I think no one can be sure about commons'fate, because we don't know how many assets are under control of bankruptcy court, their total value and in last analisys Diomq may remain as shell if Judge will rule in our favour in the disputes against Total Vein Solutions and VNUS.

Ango investor relations mailed me telling me that they have bought certain assets from bancruptcy court, non directly from Diomed, so they don't know how many assets are now available for sale, their value, and if Diom equity will be cancelled. Not all assets are perhaps under Bancruptcy court, but it's not sure.

I don't think commons will be rich or entitled of some cents, I only hope equity will be not cancelled and shares remain listed ready for a reverse merger. A shell as Diomq, trading on Pink Sheets and reporting to the Sec may be worth up to a 1 million, now market capitalization is only 180k. But it's very risky and hard, so you have done the better thing to sell your shares. best regards

[instructmba]

I don't think the common will get anything, I've sold, and I don't really follow it that closely anymore. Best to you and hope you get something out of this mess. Have you bought any MOSH?

BCNU
Instructmba

[knulp]

can you give me some information about Diomq preferred shareholders? Did they convert in common or choose a cash settlement? I'm assuming that 1-2 millions may remain for shareholders, what do you think?

[knulp]

http://www.mffais.com/dio.html

WELL NO LARGE FUNDS IN DIOMQ, EVERY INSTITUTION SOLD ITS HOLDING, NOW ONLY SMALL INVESTOR MAY DECIDE DIOMQ RALLY

ARGENIS SOLD 2.8 MILLIONS SHARES

[knulp]

you are lucky, i would read these filings, can you post them? Do you know if it is possible for me to beincluded in that mailing list? Thanks

[instructmba]

My news source is the filings because I'm on the mailing list... the Judge put me on the list when I testified over the telephone some months ago. Hope you get something but it doesn't look very good and I see little hope.

BCNU
Instructmba

[knulp]

thanks for your opinion, I think Diomq value as a future potential shell is greater than market shows in this moment, I am not sure if any distribution to common shareholders is possible or not, but it seems to me (from the beginning) that this bancruptcy was very strange and inappropiate, so i'm hoping for some damage requests to creditors or management or defendants in previous patents litigation, because according to me Diomed failed in to bancruptcy for late judgements in litigations with competitors and due payments (famous 14.7 millions infringments patent) not for its promising business.

Well, I'm holding and hoping for a run up to 0.05 cents, with only 30.320 millions shares outstanding is only 1.5 millions of market capitalization

Dear isnstructmba, can you tell me your news source about diomq chapter 11 for updated news and filings? thanks

[instructmba]

I sold out a long time ago after my telephone hearing with the Judge and his denial of an Equity Committee. I just don't see anything going to the common. The BK should have never been allowed in my estimation. It is a shame the Judge allowed this to continue because the Primary Creditor basically tried to change the contract midstream and thus created panic with the other creditors. With time Diomed would have succeeded, but I'm convinced the attorneys gave the wrong advice to the DIP and was hungry for money... just look at the fees!

BCNU
Isntructmba

[racerdave42]

subterfuge?? "all the extra money going to lawyers" Also admission there is extra money. Bring Mike back. I liked him better

[knulp]

what's your news source about diomq? are you holding shares or have you sold? good trading

[instructmba]

And the Winners are...

Any extra money is going to the attorneys, here is the numbers just for the short period of 3/14 to 6/30/2008:

McGuire Woods LLP, Co-counsel to the Debtors = $562,370.21
Choate, Hall & Stewart, Co-counsel to the Debtors = $110,437.57
Goulston & Storrs, Counsel to Unsecured Creditors = $333,138.19
Sullivan & Worcester, Corp Counsel to the Debtors = $49,853.85
Wolf, Greenfield & Sacks, Counsel to the Debtors = $226,020.34
Fladgate, United Kingdom Counsel to the Debtors = $12,429.59

That's a grand total of $1,294,239.75 for very little work over a very short time... who say's BK isn't a profitable business!

BCNU
Instructmba

[knulp]

updated http://www.mffais.com/dio.html at 8/12/2008 (yesterday)


Westfield Capital Management Co Llc Institution sold all 2.9 millions shares, the only one large institution to hold important stake in DIOMED is Argenis Capital Advisors Llc with 2.9 millions shares.
Important funds are gone away, Diomq sell off now is lower while chapter 11 end is closer

I'm holding and hoping for the last sell off before the run

[knulp]

read http://www.mffais.com/dio.html

ubs dumped recently 94K shares (recent filing on 8/11/2008)

Westfield Capital Management Co Llc and Argenis Capital Advisors Llc own 5.76m shares or the 19% of the company
( westfield added more in may...) while other institutions hold 2%

I don't think they are holding or increasing for fun, but for some money...

Recent sales at ridiculous prices (0.0030/0.0040) were made by funds and financial institutions that cannot be invested in pink sheets and otcbb stocks.

Buying institions are 33% holding 20% selling 47

os 30.320 m float 28m free shares in the market imho 20 m

[racerdave42]

All Aboard!! Train is about to leave!!!

[knulp]

I'm waiting for updated filings and final decisions by federal bancruptcy court: the only uncertainty is the the litigation against VNUS. I'm holding for shell use and some intellectual property and some future royalties

[imshredin2]

No I've been out awhile. Once it looked like there wasn't much chance of an asset distribution for common sh's I started looking for somewhere else to lose my money! I think I bought AQUI with it LOL that one sucked worse LOL GL

[racerdave42]

charts screaming. All I'm lookin for is to play it like a trade. I think .02 is a given. You playing?

[imshredin2]

Get some money out of it while you can Dave. Strange action for sure.

[racerdave42]

Nice close!! Gettin jiggy for a dead stock!!

[knulp]

1) Diomq earned more than 23 millions due to patents infringment settlements and certain asset sale
2) It seems that amount due to creditors and preferred shareholders is the same earned (as at first point)
3) Diomq owns some assets, some royalties, some intellectual property, but not in Us because all assets were sold to Angiodynamic
4)The big uncertainty is the amount due, if and when judge rule, to VNUS. VNUS infact has filed against Diomed for patent infringments, but Diomed is protected now by Chapter11. Ango and Vasc settled to Vnus 10 millions, I don't think it will the same for Diomed, because is smaller than its competitors, because is protected by chapter 11, and there is ever the chance that Judge may rule in favor of Diomed, or against Vnus.
5) In a chapter 11 not all creditors must be repaid, sometimes amount due to them were reduced or renogatiate.
6) Diomq may remain listed as shell, a very good shell, with Net Operating Loss carry forwards or NOLCFs (tax discounts for future earnings) and a small number of outstanding shares and float (30.3 and 28 respectevely) Diomq market value is under 300K$, when everyone may see that other bankruptcies stocks trade at several multiple of 300K...

only in my opinion, this bankrupt was very strange, Diomed was forced to go under Chapter11 by some creditors, but numbers weren't so bad...only in my opinion

[racerdave42]

so then it's not fact, just your opinion. I am not saying you are wrong in your opinion but it is only your opinion. The common dosen't need representation for the judge to rule in our favor.

[instructmba]

No the judge didn't tell me this. But the Judge did tell me there will be no Equity Committee and the Creditors' Committee argued there isn't even enough to pay them... so the only conclusion is the Common gets nothing. I did try my best and even petitioned the Judge but all to no avail. It's all in the filed Court documents and as I've already posted months ago.

BCNU
Instructmba

[racerdave42]

Again , "the common will get nothing". The judge told you this? It's in what filing?

[instructmba]

Fact... they got way more liabilities than assets. I tried to communicate what seemed apparent in front of the Judge but he shot down the Equity Committee and moved the case forward. The Common will get nothing. It shouldn't even have gone into BK but a secondary creditor called in the chips when the senior creditor tried to force a change in the loan terms. The Senior Creditor should have been held in breech of contract.... but what do I know?

BCNU
Instructmba

[racerdave42]

Opinion or fact? based on?

[instructmba]

zero

bcnu

[free_man_n_paris]

What do you think the odds are here for shrholders to get ANYTHING for their shrs?
TIA

[knulp]

well I'm holding my stake, and hoping for a reverse merger once bancruptcy process will be officialy concluded. In other words it seems to me Diom will likely remain as a shell, the low number of outstanding shares and float, and some Nols, could be a good target for a reverse merger. Market cap is only 100K, and we don't know the exact value of certain assets that weren't sold to its competitors during chapter11.

I'm hoping that all lawsuits are been dismissed or will be dismissed, this bancruptcy was very strange, read the article yet posted...Ango made a big business buying a good but in financial troubles company (DIOM)

[racerdave42]

still in 125k @ .008avg. waiting for ??

[knulp]

http://www.mffais.com/dio.html

[knulp]

HOME News Hi-tech Cambridge laser company emerges from administration unscathed
Cambridge laser company emerges from administration unscathed
Written by Tony Quested
Friday, 20 June 2008


Steven Law, of Ensors Chartered Accountants

A medical laser technology company has emerged from administration with jobs intact and pledges of future growth from its Cambridge base.

Administrator Steven Law, of Ensors Chartered Accountants says the sale of Diomed Limited to Angio Dynamics Inc – a NASDAQ listed public company – has been completed. The new business will trade as Angio Dynamics (UK) Limited.
Diomed Limited, based on the Cambridge Research Park, went into administration on March 14 following the filing of Chapter 11 bankruptcy proceedings of its US parent company.

The move generated a notable amount of industry interest in Diomed with Angio Dynamics agreeing a deal with the administrator in April.

Final completion of the sale was conditional upon the entry of an order in the US bankruptcy court authorising completion of purchase agreements between Angio Dynamics, Diomed Holdings Inc and Diomed Inc. The Order was made on June 3 and completion of the sale of the UK business has now taken place.

Mark Upton, director of business recovery and Insolvency at Ensors’ Cambridge office, said: “This sale is great news for all the stakeholders in Diomed.

“The business traded successfully during the administration with no loss of customers and, as a result, I anticipate being able to make a substantial dividend payment to creditors in due course.

“All parties are delighted with the sale and the opportunities it presents for future growth and development of the business in the Cambridge area.”

Diomed employs 45 people in Cambridge.

[knulp]

why no filing, no news after the sale to ango?

do you know the exact link to massachussets bancruptcy court where find updates about ch11 process?

i'm still little positive, market capitalization only 100K, company should own some assets, I'm hoping for some cents...

float and o/s are very low, 30 millions

[racerdave42]

Thank You!! 80bucks?? either a cash out or a piece of a shell. I don't think thats bad

[SUEZIA]

Hi Dollar if you look that 20 thousand stocks of yesterday..it were mine I've sold.... but i still have 30000,then i will be free... and with my bad luck maybe DIOM will start to fly...

[Dollar Bill]

No not everything just your money...lol

[SUEZIA]

IS EVERYTHING LOST HERE?

[dialer55]

still a little trading here, anyone heard anything new??