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Sometimes those who attempt to shear the sheep find themselves shorn instead.
Sometimes you hope that this isn't going to happen and you buy some shares in the hope this will go higher as a rocket, and now the fact is that I bought for 2.1M shares and they're all gone now. Didn't lose a lot, arond 2K :)
SECURITY DELETIONS
Updated Symbol Company Name Effective Date Unit of Trade Comments
09:34 FLTWQ Fleetwood Enterprises, Inc. Common Stock 8/23/2010 100 Plan of Bankruptcy effective **
http://www.otcbb.com/asp/dailylist_detail.asp?d=08/23/2010&mkt_ctg=ALL
From 8K: On August 23, 2010, the conditions precedent to the effectiveness of the Plan were satisfied or waived. As a result, the Plan became effective as of August 23, 2010 (the “Effective Date”).
Item 3.03 Material Modification to Rights of Security Holders.
Pursuant to the Plan, all equity interests in the Company (including outstanding shares of common stock, options, warrants or contractual or other rights to acquire any equity interests of the Company) were cancelled and extinguished on the Effective Date. Under the Plan, holders of equity interests of the Company will not be entitled to, and will not receive or retain, any property or interest in exchange for such cancelled equity interests.
http://www.sec.gov/Archives/edgar/data/314132/000110465910045423/a10-16064_18k.htm
From Form 15: Approximate number of holders of record as of the certification or notice date: 0
http://www.sec.gov/Archives/edgar/data/314132/000110465910045424/a10-16064_21512b.htm
NICE, only took 110K shares to move us back from 0.0007 to 0.0010. Bid is 0.0010 and Ask is 0.0012, so we can maybe move to 0.0012 and this should give us a 100% profit for today. NOT BAD!!!
Why do you post here if you don't want to buy cheap shares! You don't hold share of this stock like your post are! So, i'm agree that what you there is some thrust but if you found this stock a bullshit, go to another forum and leave other trader free to buy or sell this stock!
The problem is that everybody knows that Q shares are worthless, but still there are companies that finally get out of chapter 11 and that shareholders earned money on those shares. I believe you can make more money with any Q share then playing on the lotto. :) Btw, you didn't offend me :)
I try to post reality as opposed to hype and misinformation. I'm sorry if that offends you.
Just wondering why you're posting this kind of messages on the forum. Either you want to buy this stock at a very low price and tell people this is junk and that we are stupid to buy this, or you don't have a personal life and don't know what you need to do with your spare time.
You just might do that. There are a lot of ignorant people handling their own money these days and most are willing to gamble it away faster than they can earn it.
Anyway, I've added 350K shares today, and i'm sure i'll be able to double my money in the near term. :)
Some have used that R/M speculation as a means to pump up interest in the stock in order for them to book a profit, but you can confidently wager that if there was any cash value in this becoming a shell company with newly issued shares (because the old shares are being canceled), the shell would belong only to the creditors.
It's not at all likely that they would leave cash on the table.
I hate to bring this up but
(without doing my own research)
but..... has there been talk of a reverse merger ?
Thks.
TPB
All I can do is post the words from the filing. It's up to you to understand there will be no shares remaining after the effective date, thus no possibility of any existing shareholder to participate in anything, especially a reverse merger which requires holding shares of the company.
I don't know what you try to say? All common shares of chapter 11 companies are useless. But if we can have a R/M then we make a lot of money, so why to risk 1K in FLTWQ and made make 100K or more, or play on the lotto for 1K, then I know what I'll buy. If you play 10 different chapter 11 companies then there will be at least 1 that goes higher, and not just 100% but 1000% or more. So the chances of winning money with Q companies is MUCH higher then playing on the lotto.
Conditions to Effective Date
Does it get any more direct than this? The only thing I see as an unknown at this time is the "Effective Date".
NEWS OUT?
RV company plans job fair, has big plans
Aug 12, 2010 (The Press-Enterprise - McClatchy-Tribune Information Services via COMTEX) -- MVP RV, a Moreno Valley-based company that tried to enter the electric car market last year, plans to hire hundreds of workers to staff two former Fleetwood Enterprises plants in Riverside.
MVP plans a job fair Aug. 28 and wants to bring in 80 new employees to start work in September, said Brad Williams, CEO of the company.
The company hopes to add 150 more positions in October and incrementally hire people over about six months until it employs as many as 800, company officials say. Currently about 110 people make towable RVs at MVP's factory in Moreno Valley, just north of March Air Reserve Base.
Now company officials are gambling that they will be ready to sell more trailers when the recession-ravaged public, which has not been spending on big-ticket items, is ready to buy again.
Williams said MVP needs assembly-line workers, administrative and human resources personnel, financial managers and others. Thousands of people in Inland Southern California used to make RVs but lost their jobs when companies such as Fleetwood, National RV Holdings and Weekend Warrior went out of business in the past three years.
"As our volume increases, we're going to be hiring people from all walks of life," said Roger Humeston, MVP's chief financial officer and corporate secretary. "There are a lot of people out there with the skills, and they'll be thrilled to see an RV company come back."
Humeston added that the people who used to make RVs understand that the sales market is still at a low point. But he said when the market improves, so will the lives of MVP's workers.
The deal for the former Fleetwood plants, on Fleetwood Drive and Via Ricardo, closed escrow Friday, said Finn Comer, senior vice president with Lee and Associates, the broker representing Fleetwood's bankruptcy trustee in the sale. MVP bought the two buildings for $18.6 million, Comer said.
Fleetwood, once the Inland area's only Fortune 500 company, filed for bankruptcy protection in March 2009. The two buildings encompass about 460,000 square feet.
"Those buildings are very well outfitted" for making RVs, Comer said.
Williams, Humeston and Pablo Carmona, the chief operating officer, are all industry veterans who started MVP two years ago, at the factory that used to make towable RVs for Thor of California. MVP was forced to shut the plant in 2009 but reopened in March after securing new financing.
About a year ago, MVP created a wave of optimism in the Inland area when it announced a deal with CT&T United, a South Korean firm, to manufacture small electric cars at its Moreno Valley facility. That deal stalled, and MVP found another investor to help the company revive its RV operations.
Redlands-based economist John Husing said that in its heyday Fleetwood drew other RV manufacturers to the area. This, in turn, drew companies that sold supplies to the industry, and if MVP can duplicate even a small part of that, the region would benefit.
Husing said his concern is the state of the RV market. Sales have been dismal for more than three years, ever since home prices began to decline and most homeowners could no longer refinance their houses and use the money on an RV.
"If they're going to manufacture RVs, and if there's a market, then it's really good news," Husing said. "The question is how fast the RV business will recover."
Despite the huge drop in sales, analysts say they've seen small signs of recovery recently. Sales of RVs were up 4.1 percent in May, the most recent month for which there's data, from the same month in 2009, said Scott Stropkai, national RV sales manager for Statistical Surveys Inc., a consulting firm for the RV and boating industries.
Williams said MVP plans to market its products abroad as well as domestically. The company recently displayed products at an RV show in South Korea, he said, and Stropkai said that despite the perception of the RV as an American phenomenon, there is growing interest globally.
"I know there are markets out there," Stropkai said. "A lot of manufacturers go to Europe and Australia now, and I know China is starting to get interested."
This one you can hold a lil longer I believe...might end up similar like VSTNQ or CEMJQ.....also I think management is trying to get something back to shareholders... check out there filings
Was in and out of that one.
bro have you checked out FGOCQ? very similar 0.0025 right now looking pretty nice on the chart
Never hold long. This is a fun one I saw posted about. The rest of my pinks are doing great today. I like the rapid ups and downs here.
yea but only in small buys for me bro...I almost got wiped out when CDTBQ got cancelled lol
yeah but in the meantime trade it
Item 3.03 Material Modification to Rights of Security Holders.
Pursuant to the Plan, all Equity Interests in the Company (including outstanding shares of Common Stock, options, warrants or contractual or other rights to acquire any equity interests of the Company) will be cancelled and extinguished on the Effective Date.
After the Effective Date, the Company intends to file a Form 15 with the Securities and Exchange Commission to terminate and suspend the reporting requirements related to its Common Stock and preferred share purchase rights under the Securities Exchange Act of 1934, as amended.
Idk didn't read to much into it but seems that everything has been finalized and pretty soon commons will be canceled on the effective date.......
Here check it out maybe you can interpret better then I can....
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001104659-10-043754.txt&FilePath=\2010\08\11\&CoName=FLEETWOOD+ENTERPRISES+INC%2FDE%2F&FormType=8-K&RcvdDate=8%2F11%2F2010&pdf=
no can you post it? good or bad??
have you guys seen the recent filing??
Well I bough some so let us see what happens.
WHOOO!!! +115% AND WITH BIG VOLUME!!! YOU HAVE SELL YOUR SHARE FOR ONLY 0.001 AND NOW IS 0.003??? YOU UNDERSTAND THAT SOMEONE BUY YOUR SHARE FOR NOTHING!!!
OT Sorry about the duplicates
Thanks for the responses...............
I have all I want for right now....and will take my chances with my average price........won't be looking for anything new unless something pops up that changes my mind.
Just hanging out waiting for the right time.
TPB
Anything is possible with this one.
why "worthless", NO OFFICIAL DOCUMENT of the confirmation hearing has been release yet and it's quote always with big volume and NO BIG DUMPING!!! They try to have your share for less than 0.001 OR EQUAL but you don't see after that the price go up after buying!!!Why? Now, nobody have good feeling here(It's time to buy) AFTER the confirmation hearing will be CANCELLED and CONFIRM -> RUMOR of a new PLAN chapter7 or other will go up the price of this stock and (It will be the time to sell!!!) Like tradersamo say to you! Wait a good time and buy more at this price to have lower your average price!!!
Also looking for a good exit time.
Do you think we will get a good enough pop that will last long enough for us?
Not yet, but be ready to exit by end of the year if not sooner, I know I am!!!
Are my shares worthless now ?
It's smaller volume today but reach 1.6M yet and with just -6%! Someone is buying shares very cheap until monday!!! Nasdaq is -2.8% so a very bad day and week i presume! SO, it's time to recharge with this stock price!!!
Not laughing at you just laughing.
You can "LOL" but you don't give me a good new stock and you will know in the future if what i tell will arrive or not! You can put your money where you want! Pink Sheet is very dangerous but can be very bargain too, it's the game with WINNER AND LOSSER!
So how high do you see this going? We are the only 2 people here?? LOL
WELL, very good day with BIG volume and +50% as high!!!
This stock will be GOING HIGH TO THE SKY!!!
YES But why there is BIG volume today??? Why it's continue to trade, Why Big volume (30M) at the 07.26.10 AND WHY no big SELLING after the 07.29.10 and stock NEVER go UNDER $0.001!!!
I think there something new or NEW PLAN and it's can be another than CHAPTER7 but they sell all there asset but to a private company and IT's FLEETWOOD company here! A big monster in House, So i see that they plan to buy there asset after the plan and restart there business and they just sell there asset to have money to pay debt and the old stock will be change to a new one with 1/3 or 2/3 of old stock change to new one!!! It's already happen for others "xxxxQ" stock and WITHOUT any OFFICIAL PAPER of the CONFIRMATION HEARING ALL IS POSSIBLE!!! But Volume and BIG UP SPEAK themselves!!!
commons can be safe? chapter 7 usually means a selloff of all assets.
BANK OF AMERICA HAVE REJECTED THE PLAN SO THEY HAVE REJECTED THE CONFIRMATION HEARING AND CHAPTER11 PLAN WILL BE CANCELED AND CHANGE TO CHAPTER7 SO COMMON SHARES CAN BE SAFE !!!!
Proof:
http://www.kccllc.net/documents/0914254/0914254100726000000000002.pdf
In pdf=page44 document=page38
BofA Objection. Bank of America (“BofA”) filed an objection to the Plan [Docket No.
2370], whereby BofA objected to the proposed treatment of the Secured Parties under the
Plan and asserting that (i) the Secured Parties would receive less under the Plan than they
would in a Chapter 7 liquidation (in part due to projected recoveries to First American in
the adversary proceeding) and (ii) the Plan is not fair and equitable. The BofA Objection
was just filed on July 20, 2010, and remains unresolved as of the filing of this
Memorandum.
AFTER THAT:
Finally, the BofA Objection raises issues related to the
resolution of the First American adversary proceeding. As with the First American Objection, the
BofA Objection should not hold Plan confirmation and distributions thereunder hostage until the
adversary proceeding is resolved.
So they doesn't care about the objection of BofA because they should hold the Plan confirmation and distributions thereunder hostage until the adversary proceeding is resolved and SO THEY REFUSE THE CONFIRMATION HEARING AT 07.39.10 but we have no document yet to confirm that but that mean the CHAPTER 11 GO TO CHAPTER7 that CHANGE ALL FOR common share and FLTWQ CONTINUE TO TRADE A BIG TIME NOW until the new plan will be finish!!!
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RECENT PRESS:
Debt-heavy Fleetwood tries to steer to buyer
Fleetwood in loan talks with BofA
Riverside RV maker files for bankruptcy
Bankruptcy Court Documents:
http://www.kccllc.net/fleetwood
Mon Mar 30, 2009
New Multi-Million Dollar Government Contract
Company Sites:
http://www.fleetwood.com/supply.html
Outstanding Shares: about 209 million
COMPANY TIMELINE http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34162897
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