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EXMCQ: BK Plan effective. All shares cancelled at 12:28:42 E.S.T.:
http://www.otcbb.com/asp/dailylist_detail.asp?d=02/14/2014&mkt_ctg=NON-OTCBB
Is trading halted?
now what? 0,009 or 0,0070 like I predicted it coudl go? where's the bottom?
look now and yesterday triple buy than sell? then??
There is two things taking place one is averaging down were one sells there position and doubles, triples, or what ever to hold the same value taking the tax gain down the road should against gains.
The other is as the company brought on debt for underwriting purposes they sold shares as collateral for the debt and used the money to pay interest and invest in hopes to create a return as well as to promote the stock were a lot of the money goes.
Now s the stock drops from the S1 filing value and the company is holding treasury stock they will forward split the treasury stock to match the S1 filing price and then reverse the stock on a restructuring keeping in mind any build up value after the debt is taken care of then and only then will you see dividends be paid should there be any thing at all of value left after the debt is repaid.
If a company is not making a forty percent return after interest is paid then there is slim chance of recovery for the common share holder.
who are slowly accumulating here? yesterday 1 million, today a 500K block hummmm??
I still have some shares but at 0,16$ will I lost all my money?? the rest I sold all for 0,23 to 0,24$ avg with some little proffit
good luck!!!
What??? Are you actually eddy using another account?
examples of thieves in the market
hevq
Kodak
forget AMRN this is not american airlines
the thieve is making good and make some money down the way
The problem is, at other times they shot bastards like these but now great casino is working all days
bitcoins, google at 1000$, apple, etc one day 100% other day -50% or whatever they want
you don't see the game is trading all days...
buy at 0,012 sell at 0,014 until 0,0000 ok?
a 10% all days with tons of shares is money baby...
they have buy and sell orders all the days but at the end they sell the bought shares with a 10%-15% or more gain intraday...
Chapter 11 explained for investors
My mother is a retired Chapter 11 CPA and share this link with me.
Corporate Bankruptcy: What Every Investor Should Know
Thanks UNDAUNTED!
Well, you are very close to the source. You are already aware they are emerging from Bankruptcy in mid-February.
Why are they being allowed to emerge? Because the company & it's creditors have agreed to a 'REORGANIZED' plan. Under that plan 3 basic things happen.
1) Creditors significantly reduce debt owed by company in exchange for a huge chunk of the NEW authorized common stock
2) Company reduces their balance sheet liabilites
3) Existing common stock is WIPED OUT.
This plan has already been put agreed to by all parties & agreed to by the judge.
Where are you getting the news regarding stock cancellation and a new company name?
You are trying to make sense out of the senseless.
How can a billion shares be traded (dumped) on 1/31 when less than 95 million shares have been traded from 1/31 to date? I don't get it?
ha thanks! would love to be out before the bell, but looking for a little more
As long as you understand what you are buying & know the risks, I understand your play. But you are 1 in a 100. GLTY!
with minimum proffit sell, friday at 0.0075
picked up a little @ .012, cancellations usually come on Fridays (not always, I know), and the slight chance of total loss agains a decent chance of 50-100+% gains looks attractive. mainly jus HAVIN FUN
where this stop? at 0,01$ ? or less trying to make a quick trade but all day down down and down...
Shares might be Cancelled this week. All your money go Zero.
I see the game dump, buy very low and sell high of day
wash and rinse many times until zero...
Shares will be Cancelled shortly! That's WHY they're dumping, all their worthless shares before the Cancellation.
I don't think that info has been released yet. I expect the stock to be cancelled sometime between this Wendsday (12th) & next Wendsday (19th) & a new ticker symbol announced then. I'm basing that prediction on the court filing that gave a time frame of 'mid-february'. But you never know, it could all happen sooner.
this is stock symblo will be change ?whats going on now ?can some ppl tell me plz
the block I saw in my selfbank platfform yesterday was here 500K sell
this is going to 0,01$ for sure now... but until total disapear of the symbol EXM where can it go now? 0,00XX?
There are boards on IHUB that are there to discuss different buying strategies. I suggest you make these types of comments there. If you have something to say about EXMCQ please feel free to post here.
when we break 0,03 today or tomorrow?
Twenty dollars and out at Forty it is hard to say at this point it is how the market looks at it and what the graphs are saying and the bottom line that is the biggest component of the outcome cause then one wants to work backwards with a conservative 15% on the profits generated that will be the goodwill should and if a buyer should come by too buy her up
and where's your entry point?
for this quick trade and 100% proffit?
Huge share dilution coming along with a huge share reversal before new shares are registered then after the registration of the shares the debt will fall.
Wait until after the reversal then buy in should you decide to go long but there will be a race to the exit as the hedge funds bail to take profits for the cheap debt they picked up.
Sitting on the side lines and watching.
ho ho a 500k block trying to sell
who is trading this with little 20K or 40K blocks?
only trading until is dead?
but the problem is at the end sells are double than buy and making new low day by day
wil te wipe out come soon?
So lets go back and examine what took place. The whole sale division that all share holders are part of along with the retail side of things sold to the retail side a cheap product what ever that product maybe a ship,land,a service maybe who knows then the retail sold what ever it should be to a client so there we have the capital surplus and retained earnings over time gone by accumulated.
So were is the money, well it was used to purchase shares not registered and that is why there is no money someone has made of with it putting the company in harms way of default because those same individuals own the debt and have an interest to see the company default to obtain assets that have not been exploited
So were is the rabbit out of the hat come in to play well it is the old I will scratch your back if you scratch mine those same individuals who hold the notes and received payment for there unregistered shares will now inject more capital back into the company receiving new shares while the old commons are cancelled along with lending those new shares back to the company creating new debt and the cycle starts again.
Now there is one key note missing and that it was the common shareholders capital used to buy the unregistered shares that could of been used to pay the debt that was due but the thing is there was not enough of it to pay the debt due so regardless of the outcome there is now new controlling interest in the company even if it is the same group pulling the strings but the bright side is that the common share holders of yesterday now hold the unregistered shares of the retail division that hold all the liability should things go wrong and as noted the liability never changed over the time period due too interest payments on the debt.
So what one always wants to look for is rising good debt along with falling bad debt and if this should be the case well you will be save until a shift in a product cycle a plane of the likes of the new Boeing comes along or another downward cycle were debt can't be paid and there is another shift in the debt cycle and the old commons come back in play.
That is building hope and that is what we need here today to build an upward shift in the price of the stock.
The group as a whole had over a billion shares on Friday we had to dumb them. In total we got a 5% return on capital taking in the loss before tax's owed after tax's maybe 3% giving a 1% return not great guys of the risk were looking at other targets will keep informed.
http://smallbusiness.chron.com/business-tax-exempt-number-4161.html
Only one entity may have a tax-exempt number were the tax return is shown as revenue other expenses are used against the revenue. All companies are set up as wholesale retail were one entity sells wholesale to the retail division at an inflated cost to material and labor cost all sales expense advertising warehousing the product financial support to customer is handled by the retail entity.
This retail entity to the client " customer " can be wholesale or retail to the customer on the street.
This applies to a service industry as well
so you don't think this will be a new company?
The industry is getting healthier as the world economy recovers. Unfortunately this stock will be completely wiped out to zero, worthless in a few days.
Think shippers are gonna run again. Watching this one to stabilize. GLTA
yes thanks undaunted still don't understand the thieves are destoying this company I had excel wen it was more than 5$ sold at 4 with some losses (not many shares) and saw they where going down but I never imagined to see exm near to ZERO
incredible, but I had (still have) 2 stock that where 1 dollar and now they are near to zero
well I'm looking to buy some more stock, london is going well, SOLG, MARL with the rebounds, GGP, AIM stocks when you buy low and sell high
quoted from the Plan of Reorganization :
5.10 Cancellation of Existing Securities and Agreements. Except as provided in this Plan or in the Confirmation Order, or for the purpose of evidencing a right to distribution hereunder or a contractual right to indemnification or reimbursement of the Administrative Agent, on the Effective Date, (i) all indentures, notes, stock, bonds, purchase rights, instruments, guarantees, certificates, warrants, options, puts, agreements (including registration rights agreements), and other documents evidencing or giving rise to Claims and Interests against and in the Debtors shall be canceled, and the obligations of the Debtors thereunder or in any way related thereto shall be fully released, terminated, extinguished and discharged, in each case without further notice to or order of the Bankruptcy Court
IN SHORT : all stock is extinquished on the Effective Date
Urmoney
Glad to hear you have another 19 'ships'. Diversity is the ally of the L/T investor.
well I lost here but I have another 19 ships
exceltitanic would be the good name
I'm afraid undaunted has reason glup glup
bye excel
in a few days 0,0001
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Excel Maritime Carriers Ltd
ATHENS, GREECE --Excel is an owner and operator of dry bulk carriers and a provider of
worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and
grains, as well as bauxite, fertilizers and steel products.
On Apr 16, 2008, Excel Maritime Carriers completed its acquisition of Quintana Maritime. As a
result of the merger, Quintana will operate as a wholly owned subsidiary of Excel under the name
Bird Acquisition. Under the terms of the merger agreement, each issued and outstanding share
of Quintana common stock was converted into the right to receive $13 in cash, and 0.397
Excel class A common shares.
After the acquisition of Quintana, Excel owns a fleet of 40 vessels and, together with 7 Panamax
vessels under bareboat charters, operates 47 vessels (4 Capesize, 21 Panamax, 14 Karsarmax,
2 Supramax and 6 Handymax vessels) with a total carrying capacity of approximately 3.7 million
DWT and an average age of approximately eight years..
Excel Class A common shares have been listed since September 15, 2005 on the New York
Stock Exchange (NYSE) under the symbol EXM and, prior to that date, were listed on the
American Stock Exchange (AMEX) since 1998.
17th Km National Road
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http://www.excelmaritime.com/
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