ENER 1, INC. (fka HEVVQ)

[pepemartinez]

the company is live...

http://www.enerdel.com/media/2014-news-releases/


what are they playing with all shareholders??

[peewee]

Yikes !

[maddawg2020]

All shares were cancelled never to be traded again.

[pepemartinez]

what will happen with some of the funds? vanguard and some others?

http://mffais.com/stock/ener1-inc.html


I have my shares and perhaps someday they will be trading again

time will tell

[dmarti]

Yep, its over. All shares are gone along with your money if you invested. Now a privately held company.

[Sharjeel S]

So if we held its shares they have all gone now??

[maddawg2020]

EnerDel parent Ener1 completes financial restructuring and emerges from Chapter 11

Private company now.

http://www.greencarcongress.com/2012/03/ener1-20120330.html

Bye Ya'll
See ya again if it IPO's

[ErnieBilco]

It will trade until the judge signs off on the exit plan.

[JARIS]

How come HEVVQ is still trading? I thought it was supposed to cease trading by mid March which would have been March 15, but the stock is still trading and going up. Everyone was saying we should sell all our shares and get out before the shares are cancelled but its still trading and going up. If I had held on a few more days I would have made a good amount of money since I got in at around the all time low.

[THEBROKE1]

everyone may not know the shares will be cancelled and are buying because they think they are getting cheap shares,also day traders.one day last week the shares dropped to .003 yesterday made it to .008 so there is still money to be made.you just dont want to get caught the time when it stops trading thats playing with fire but to each there own

[JARIS]

So why are people still buying shares of HEVVQ?

[THEBROKE1]

this from the 8k.they may be taking the company private the 8k is below read it for yourself

so be very careful they are calling for them to emerge next week.dont be like me and let greed get the better of you. come monday you better let the rest of the shares go even if it is at a small loss or take a chance on it dropping to nothing

Upon the Effective Date, as a result of the termination of the Old Common Stock and the other actions undertaken in connection with the consummation of the Plan, the Company will become privately held by fewer than ten shareholders of record. As a result, and as provided in the Confirmation Order, the Company intends to file a Form 15 with the SEC pursuant to Rule 12(g)-4 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), promptly after the Effective Date. The filing of the Form 15 will immediately suspend the Company’s reporting obligations under Sections 13(a) and 15(d) of the Exchange Act, including obligations to file Forms 10-K, 10-Q and 8-K.



http://www.ener1.com/investors/investors/sectext.php?id=0001144204-12-012730

[maddawg2020]

In BK the common shareholders lose everything.
That's just the way BK works.

[JARIS]

ok, sorry to keep asking questions but I am confused, why would they not issue shares in the new re-organized company to shareholders of HEVVQ? And why are people still buying HEVVQ if they aren't going to have shares in the reorganized company?

[maddawg2020]

From the BK Plan

7.3 Issuance of New Common Stock and New Preferred Stock. On the Effective Date: (i) all authorized or issued Interests shall be canceled and extinguished, and the holders thereof shall not retain any rights thereunder and such instruments shall evidence no rights;[color=red][/color] and, (ii) the Reorganized Debtor will issue the New Common Stock and the New Preferred Stock other than the New Preferred Stock that is to be issued at a later date pursuant to the Plan and the Equity Commitment Agreement. Upon the issuance of the New Common Stock and the New Preferred Stock, each holder of a Claim who accepts delivery of such shares of New Common Stock and New Preferred Stock provided for in this Plan, will be deemed to have consented and agreed to the terms of, and will thereby be deemed to have become a party to, the Stockholders Agreement and the Registration Rights Agreement regardless of whether such party actually executes the Stockholders Agreement or the Registration Rights Agreement. An aggregate of 10,000,000 shares of New Common Stock will be (x) issued on the Effective Date to holders of Senior Note Claims, Convertible Note Claims, and Line of Credit Claims under the Plan and (y) reserved for issuance upon the conversion of the New Preferred Stock issued and outstanding as of the Effective Date (in an amount equal to the Total New Preferred Stock Amount) into New Common Stock. The conversion price for the New Preferred Stock shall be the Total New Common Stock Calculation Amount divided by 10,000,000.

[maddawg2020]

My read is no. All existing shares will be canceled, not replaced.

The Plan provides for a restructuring of the Company's long-term debt and the infusion of up to $86 million of new equity funding, which will support the continued operation of Ener1's subsidiaries. In addition to the new equity funding, the holders of the existing senior notes, the convertible notes and a line of credit have agreed to restructure their debt in a partial debt-for-equity exchange. All of the current common stock will be cancelled when the Plan becomes effective, and new common and preferred stock will be issued to both the current note holders and in consideration of the new equity funding that will flow into the Company. The existing notes will be exchanged for a combination of cash, new equity and new notes. The Court entered a written order confirming the Plan and the Company will now proceed to close on the restructuring transactions that the Court has authorized. It is expected that the Plan will become effective within the next two weeks.

[JARIS]

Does anyone know if the owners of current shares of HEVVQ are going to receive new shares once the company is re-organized after the bankruptcy, I have read that the company is going to cancel the existing shares, re-organize, make a new ticker symbol, and then give the old share-holders who owned the HEVVQ shares ownership in the newly issued shares after they emerge from bankruptcy,that's even the impression I get from the company's press releases but some people have stated on message boards that the shares will be cancelled all together so which is it? If someone knows the answer please let me know

[Big Momma]

Thanks

[maddawg2020]

Coming out of BK, o/s shares cancelled.
That's what's going on.

[Big Momma]

Something might be going on here.

[pepemartinez]

hello I only have 20K shares at 0,020 what to do now??

I'm not loading now still waiting for the final...


opiniond?

[Penny Roger$]

~ $HEVVQ ~ Possibly going long scan results (Daily and Weekly) for for the week of March 1st 2012 - Daily and Weekly views.

Chart results for you to ponder with me.. These are technical scans only, Click next or previous at the top of the page to see my others. Twitter: @MACDgyver ---> HEVVQ <---
Keyword: MACDscan ----> http://tinyurl.com/MACDscan

[THEBROKE1]

how will they determine the pps when they come out of bankruptcy

[maddawg2020]

"All of the current common stock will be cancelled when the Plan becomes effective, and new common and preferred stock will be issued to both the current note holders and in consideration of the new equity funding that will flow into the Company."

[Sharjeel S]

http://finance.yahoo.com/news/court-confirms-ener1s-plan-reorganization-130000041.html

[THEBROKE1]

hearing today to consider confirming ener1 plan.i wonder what the outcome was.judge told lawyers to be prepared to present evidence for the lawsuit also

[WANG]

HEVVQ DIP financing 8-k

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8423063

[BEIJING BILL]

.014 get vhat u can here. :)

[SharpestGeorge]

I like the risk reward ratio here.Thinking about getting in now.I will do my own d&d. I am interested in your opinion though. Do you think this is still a good buying level?

[BEIJING BILL]

I am kumulating for WON LAST HOORAH here. take ths for vhat it is worth.

Enjuy.

MMs are loading up all veek in the .014 .015 range.

tAKE NOTES.

[maddawg2020]

Indiana Think City EV Plant Fails to Produce, Sits Stagnant

http://www.dailytech.com/Indiana+Think+City+EV+Plant+Fails+to+Produce+Sits+Stagnant/article23918.htm

[dmarti]

There is no new stock symbol yet as they have not completed the bankruptcy. Everything that is trading right now, is due to be canceled.

[PlatinumRaven]

So I'm confused...What is the new stock symbol going to be...I thought HEV was the original symbol replaced buy the symbol HEVVQ after the bankrupty. When they issue new stock what will the new symbol be?

[dmarti]

I got out and got out fast on the day of the announcement for $.03. The announcement indicates all common stock will be cancelled. How much more clear can it be. The guy that talked about the company surviving the year, oh yes, the company will survive. But after this stock is $0 out and new stock is issued. It's bankruptcy people. There is NO question as to what is going to happen to the stock. Its already been STATED.

[zsvq1p]

It just seems to me for a company to get Grants... CEO leaves with $250K exit pay... a technology that was never really valid until gasoline price hits a $$. Why the heck should a taxpayer grant crap like this?

The free market crowd is money motivated. The get it where they can. Even more reason the government needs to stay out. I can understand a tax break.. but grants?? For People to abuse grants like the CEO of this company.

You and I get fired... NO exit pay. Nothing but maybe vacation pay left over. Like I said, a scam. The board played favorites and rewarded this guy when they should have told him to take a hike. Favors to these companies from our politicians so they can "fake" everyone out like us small traders.. lol... And believe me, this was only a small part of the money flowing to those that should not have gotten it nor would have in a free market company startup company.

[BigLoser64]

Your example laws are picking or banning certain technologies. How about standards that limit pollutant emissions, then let the techies come up with the best technologies? Whether that's hyper-efficient internal combustion, fuel cells (using petroleum or natural gas), solar, corn husks, or leftover french fry grease from McD's, or all of the above. Or, instead of standards, tax the dickens out of pollutant emissions (including carbon), and the most efficient technologies will rise to the top. Instead, we subsidize cheap oil & coal, which is a disincentive to conserve. Could offset pollutant tax increases with decreases elsewhere in the tax code... or start paying down some debt. Problem is some people squeal like stuck pigs anytime you talk about raising carbon taxes...even a little. Seems the 'free market' crowd is a lot happier when they're enjoying subsidies than when they're being taxed for their share of the external costs of their behaviors (e.g. pollution, military intervention, etc.).

[Double-Down]

If I were down 70 - 80% or more (minimum, pre Thursday mornings BK announcement), I would hold for a technical bounce. But thats me.

[akyno47]

I have 136,770 shares in this company. seems to be going down. Should I sell or Hold. I dont know wat the future holds

[zsvq1p]

Big.. If the Feds wanted, they could pass a law that say only Nuke energy. Then some company would step up.

If the Feds really wanted to create demand and eliminate oil and gasoline, they pass a law that says “no more gasoline cars by 20??”. Then allow the car makers to switch to natural gas, electric or whatever. These laws aren't going to happen because it makes no sense. We have other ways of making electricity so much cheaper. Natural gas turbine and gasoline is just not short in supply yet. Until gasoline price gets high enough to change demand, we stay gasoline until to maybe a car like the Volt.

This company was kinda of a scam anyway. That past CEO and others took huge exit payoffs when they left when the business was losing money and a fat pig. What did he get to leave $250K? Let's see, you drive the company into BK and get $250K... All with grant money and the support of both republican and democrats. The politicians are just not smart enough to pick a winner. Let free enterprise do it.

Feds spent money that is a dead again. Lucky, I saw this playing out last year and only lost a $1000 or so.

[BigLoser64]

Good post. Maybe other than stay the F out, the Feds should be pulling on the demand side, instead of trying to pick favorite companies. If the feds need 100,000 cars (or jeeps or humvees), they should REQUIRE that they be clean, efficient, safe, reliable, etc. Set the bar high. Let the marketplace figure out how to get there. Pretty clear from EnerDel, Solyndra, Evergreen, etc., that picking winners is hard business. By the same token, not a single bank in the US would guarantee a loan for construction of a nuclear power plant. The only way Nukes can realistically be built is through federally backed loan guarantees. So, perhaps again the feds need to step back, and articulate the objectives of clean, sustainable energy -- perhaps with some demand-side insentives, but stay out of the business of picking favorite companies and favorite technologies.

I think if Feds stay the F out altogether, then countries where the markets work with the government, and government with the market...well, they'll fricken bury us. Shopping can only prop up our economy for so long.

[zsvq1p]

Hey... what about Lugar?

Feds just need to stay the F out...

[Double-Down]

No way. This isn’t “your fathers” Democratic Party. These guys are serious social “ist” engineers and green energy is a top priority. No way this goes down in an election year. They have to keep up appearances and make it look like the subsidies / bailouts are good for the country, no matter how detrimental they are to America’s core values as a whole. They’ll prop up Ener 1 with toothpicks in the hopes it stands until Nov 5th. Until then, the news we’ll see, will bump HEVVQ nicely.

[Welsh_Dragon]

I have not been watching, but apparently not.

[maddawg2020]

Has it bounced yet?
I fell asleep watching for the bounce. LOL!!

[THEBROKE1]

On January 4, 2012, Mike Zoi requested the Board of Directors of the Issuer to appoint a special committee to propose terms on which one or more of the Reporting Persons would purchase from the Issuer an amount of securities in the Issuer that would result in their holding a majority controlling ownership stake in the Issuer, which purchase would be intended to provide sufficient financing for the Issuer to avoid being forced to file for Chapter 11 protection. Mike Zoi has also had communications with certain debt holders of the Issuer expressing interest in potentially purchasing from such debt holders certain of their outstanding loans payable by the Issuer.


just curious.the plan calls for shares to be cancelled once the company emerges from bankruptcy can a judge change any parts of the plan or would he just reject the whole thing.what happens if mike zoi proved that he offered other options instead of bankruptcy.

[maddawg2020]

Yeah! A run to the bottom! LMAO!!

[Double-Down]

Definitely.

[PRONEW]

Gonna make a run before its done that's for sure

[THEBROKE1]

http://www.bloomberg.com/news/2012-01-27/ener1-wins-court-approval-of-13-5-million-in-funding-for-bankruptcy-case.html

[J Bling]

u guys are on Drudge.. congrats, smileeeee

http://drudgereport.com/

"Bankrupt: Electric Car Firm Got $118.5 Million Stimulus, Biden Visit"

http://cnsnews.com/news/article/electric-car-firm-received-biden-visit-and-118m-stimulus-funds-files-bankruptcy