Frontier Communications Corp. (fka FTRCQ)

[DavesDisposable]

running daily now!!!

[Value_Investor]

FTRCQ hit 0.09 so far! We should see 0.2 ~ 0.3 again as soon as next week...

Now the Huge shorting position is further reduced to 16,482,800 shares from previous 17,388,400 shares!

An Huge Shorting-Squeezing will kick in once it breaks up the resistance 0.145!

FTRCQ has Giant Positive Cash Value --- $8.96 per share from the 10-Q below!

https://www.otcmarkets.com/filing/html?id=14126415&guid=7lVHUp5FeAIxjth

We should see a New high $1.374 in the coming weeks/months in order to replicate the same performance with its CH7-"Q" peer (SHLDQ)...

https://www.stockcharts.com/c-sc/sc?s=ftrcq&p=D&yr=0&mn=2&dy=0&i=p33600450372&r=1359822341602

[SC777]

This will have a good run. Still 17M shorts that need to cover

[DavesDisposable]

something is def going on today!!

[SC777]

Yeah, this was very heavily short, over 30% of the OS. That's why it's being held down.

Should get a nice pop here soon.

[Value_Investor]

FTRCQ: The shorting position was further reduced significantly to 17,388,400 shares from 37,340,000 shares!

[Taurus69]

$ftrc $0.06655

[tutt1126]

Kirkland firm moves closer to buying Frontier Communications

https://www.heraldnet.com/business/kirkland-firm-moves-closer-to-buying-frontier-communications/

[Taurus69]

$ftrc $0.0836

[AE156]

sell or buy now?

[AE156]

Are you Sure for a short squeeze

[Value_Investor]

Great News today! 10-Q report just kicked in --- see the link below! FTRCQ (CH11-"Q") has significantly improved (24% increasing) Giant Positive Cash Value --- $8.96 per share v.s. $7.24 per share from the previous quarter (10-K report)!

https://www.otcmarkets.com/filing/html?id=14126415&guid=7lVHUp5FeAIxjth

We should see $1.47 again in the coming weeks/months in order to replicate the same performance with its CH7-"Q" peer (SHLDQ)...

https://www.stockcharts.com/c-sc/sc?s=ftrcq&p=D&yr=0&mn=2&dy=0&i=p33600450372&r=1359822341602

[Lowjack]

Stinky Pinky!

[Taurus69]

$ftrcq $0.0861

[Value_Investor]

The shorting position was just reduced to 37.34M shares from previous 38.3M shares! Which means 0.96M or 960K shares were forced to buy back most recently! I believe that an huge shorting squeezing is on the coming way which might drive FTRCQ back to $0.4 ~ $0.5 or higher price levels as soon as the next week...

[Lowjack]

Why would I need to cover shares that will be canceled in BK? If for some reason the shares are rolled into a new issue it will be at fractions of a penny and a small amount of shares to cover. I doubt the bond bullies will let current shareholders get any value unless they are paid in full.

[fung_derf]

A lesson, hopefully

[oltimer]

Value===
Do you think the stock holders will get anything out of this?

[Value_Investor]

Great News today for FTRCQ --- $1.35B worthy assets sale! Total 38.3M Shorted shares need to be covered very soon!

Frontier to finalize $1.35 billion sale of Northwest assets to Kirkland-based Ziply Fiber

KNIGHT RIDDER/TRIBUNE 3:31 AM ET 5/1/2020

May 1--The $1.35 billion sale of Frontier Communications'(FTRCQ) operations in Washington, Oregon, Idaho and Montana to a group of investors calling the new company Ziply Fiber was expected to be completed Friday.

Kirkland-based Ziply Fiber, which will serve nearly 500,000 residential and commercial customers, plans to immediately start spending $500 million on service improvements to its internet, phone and TV offerings.

"We see significant opportunity to improve the quality of the networks for our Northwest communities," Harold Zeitz, Ziply Fiber's CEO, said in a statement.

Ziply's top brass include former executives of AT&T(T), CenturyLink(CTL) and Wave Broadband.

Frontier announced plans to sell its Northwest assets last May as part of its debt-reduction efforts.

[Value_Investor]

No, 100% the other way: part of total 38.3M shorted shares were covered in a rush during the rapid price rising procedure --- from the previous Bottom $0.18 to nearly $1.0 because those shorters were squeezed to chase up in order to cover their huge shorting positions! I believe a much much stronger shorting-squeezing effect will kick in as soon as tomorrow... Now we know why nearly 10M shares were Quickly bought at $0.9xxx ~ $0.3xxx a few weeks ago right after the CH11 bad news!

I'm wondering if the company will finally give all the FTRCQ common shareholders 10% ~ 5% of the reorganized New company's shares like its CH11-"Q" peer PESXQ just did --- nearly 6% of New OS shares will be given to all the PESXQ shareholders? If that happens here then FTRCQ might surge back to Multiple Dollars or even higher price levels based on just 104M shares FIXED Small OS count! By the way a "Q" stock always has the Same FIXED SS, Zero dilution here and the OS was never increased!

Will FTRCQ (CH11-"Q") replicate its CH7-"Q" peer's post-bankruptcy performance --- SHLDQ soared 22.893-Bagger to $2.77 from $0.121 in a Quick Huge rally without any positive news at all? If the answer is "yes" then FTRCQ will soar back to $1.83373 from its New Bottom!

Note, SHLDQ has -$48.62 per share Book Value and +$4.81 per share Cash Value v.s. FTRCQ has -$41.79 per share BV and +$7.24 per share CV.

Anyway after the CH11 this bankrupt stock ever Quickly surged nearly 5-Bagger within just two days! To replicate the same performance, FTRCQ will Quickly bounce up to $0.4 as soon as the day after tomorrow...

https://www.stockcharts.com/c-sc/sc?s=ftrcq&p=D&yr=0&mn=2&dy=0&i=p33600450372&r=1359822341602

[gmcdonald34]

makes sense if they shorted them from .90 all the way down to .20 . . .I still can't find any info as to whether they are issuing new shares or if the existing ones will remain.

[Lowjack]

That's funny, I had the same price target!

When you sell off something purchased with someone elses money that you borrowed, they expect to be paid back with the proceeds! If you don't, they will break both your arms and cut off your hands and throw you in the gutter while the BK judge watches and laughs at you!

[fung_derf]

I have seen very rare cases where holding the shares you eventually came out OK. But typically, it's in buying the new shares that will make you money. FWIW, I almost never try this strategy as I like my companies to have earnings.

[Value_Investor]

I'm wondering if they will finally give FTRCQ shareholders 10% ~ 5% of the reorganized New company's shares like its CH11-"Q" peer PESXQ just did (nearly 6% of new OS shares for all the PESXQ shareholders)?

If the answer is "yes" then FTRCQ might surge back to $2.41 or higher price levels (in order to match the same performance with SHLDQ) from today's New Bottom $0.105!

Anyway nearly 10M shares were bought at $0.9xxx ~ $0.3xxx just a month ago right after the CH11 bad news! Why?

https://www.stockcharts.com/c-sc/sc?s=ftrcq&p=D&yr=0&mn=2&dy=0&i=p33600450372&r=1359822341602

[fung_derf]

DJ Frontier Lenders Say Prearranged Bankruptcy Could Unravel
Dow Jones News6:27 PM Eastern Daylight Time Apr 16, 2020
By Peg Brickley
Frontier Communications Corp.'s senior lenders say the telecommunications company's prearranged bankruptcy plan is a "fragile house of cards" that won't stand up in court.

One of the country's largest telecommunications providers, Frontier filed for chapter 11 protection Tuesday in U.S. Bankruptcy Court in White Plains, N.Y., after reaching a deal with three quarters of the investors that own nearly $11 billion worth of its unsecured debt.

With four million customers and operations in 29 states, Frontier has been grappling with the debt it acquired as it expanded its business.

On Thursday, lawyers for lenders owed $5.7 billion took aim at Frontier's proposal to borrow $460 million, a new loan that would be paid off before the lenders' claims.

Brian Hermann, lawyer for a group of senior lenders, said his clients think Frontier doesn't need the money, given the more than $725 million in free cash available now and a sale of Pacific Northwest assets that will bring in about $1.3 billion.

"That's $2 billion which, by any measure, is a lot of cash," Mr. Hermann said at the bankruptcy court hearing.

While it has backing from unsecured bondholders for its bankruptcy plan, Frontier failed to reach agreements with its senior and junior lenders, both of whom rank ahead of bondholders in the order of payment under bankruptcy law.

The top lenders want protections to shore up their position at the top of the Norwalk, Conn., company's capital structure.

Frontier says the top lenders' money is safe and only the shareholders and unsecured bondholders are sustaining financial damage under the proposed chapter 11 plan.

The top lenders disagree with Frontier's proposal to use money from the loan and the sale to pay off revolving debt. Unless there is a settlement, secured lenders will battle Frontier over the loan at a hearing later in the bankruptcy case.

"While the Debtors seek to shroud themselves in a restructuring support agreement...that enjoys broad unsecured creditor support, the truth is that underlying that support is a fragile house of cards that will not withstand scrutiny as these cases unfold," the lenders argued in court papers.

If it continues, opposition from the top lenders, whose loans are secured by liens on some of Frontier's assets, could derail the company's efforts to rework its balance sheet in bankruptcy.

Uncertainty over the impact of Covid-19 on the economy has boosted the pressure on corporations including Frontier that were already dealing with financial creditors when the pandemic rattled the markets.

Frontier expects to complete the sale of operations in Washington, Oregon, Idaho and Montana, its Pacific Northwest business, to WaveDivision Capital LLC for $1.35 billion in cash, the telecom company's lawyers said.

The company's proposed chapter 11 restructuring won't affect the jobs of its 18,000 workers, said Stephen Hessler, one of the lawyers who explained the company's strategy at Thursday's hearing. Regular trade creditors will have their bills covered in full, he said.

Write to Peg Brickley at [e-mail]

(END) Dow Jones Newswires

April 16, 2020 18:27 ET (22:27 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

[fung_derf]

Well this is awesome and helpful..

DJ Frontier Comm Price Target Cut to $0.00/Share From $0.90 by Wells Fargo
Dow Jones News8:08 AM Eastern Daylight Time Apr 17, 2020

Ratings actions from Benzinga: https://www.benzinga.com/stock/FTR/ratings

(END) Dow Jones Newswires

April 17, 2020 08:08 ET (12:08 GMT)

[fung_derf]

There are certain things about Wall Street that sicken me. Restructuring and Chapter 11 is high on the list.
BTW, so is the existence of Goldman Sachs

[Value_Investor]

Can anyone explain why a already-bankrupt CH11-"Q" stock (FTR) could surge over 400% or more than 5-Bagger to nearly $1.00 from its previous Bottom $0.18? Who bought those Millions of shares above its first Bottom $0.4101?

Will FTRCQ replicate its CH7-"Q" peer SHLDQ's post-bankruptcy performance --- it soared from $0.121 to $2.77 which is 22.893-Bagger Huge Quick rally without any positive news at all? If the answer is "yes" then FTRCQ will soar back to $2.63 from $0.115!

Note, SHLDQ has -$48.62 per share Book Value and +$4.81 per share Cash Value v.s. FTRCQ has -$41.79 per share BV and +$7.24 per share CV.

https://www.stockcharts.com/c-sc/sc?s=ftrcq&p=D&yr=0&mn=2&dy=0&i=p33600450372&r=1359822341602

[Renee]

That is usually the plan, new equity to secure the debts without the pesky pre-bk shareholders.

[fung_derf]

and now, they will arise anew with fresh energy and none of those worthless hanger on shareholders to contend with.

[Renee]

FTR changed to FTRCQ, bankruptcy. Delisted from the NYSE to the OTC.:

https://otce.finra.org/otce/dailyList?viewType=Additions

[BottomBounce]

$FTR Frontier Communications files for bankruptcy protection
https://www.reuters.com/article/frontier-commn-bankruptcy/frontier-communications-files-for-bankruptcy-protection-idUSL3N2C30V9

[Taurus69]

$ftr $.2001

[Lowjack]

Docsis 4.0 is current tech.

10Gb down 6Gb up.

Replacing of all copper wire to the MPOE with single mode fiber will need to happen.

Picking up of old wireline assets only works if you use the easements to run better tech.

[N4longterm]

Really?

I'm going back to when FIOS was young, Fort Wayne was one of Verizon's first roll-outs of the service.

They made a big deal locally when they finally brought us, in the rural part of the county, DSL 2 years ago....

When I gave the tech a rough time about how it should have been the FIOS that was sold off, he replied 'Oh you know about that'.

[fung_derf]

I would agree with your entire post.....except for the spelling of the word "lose".

[Lowjack]

I'm going to assume the tech was old. You got about a 3 year window before the boxes are obsolete. We are on Wi-fi 6.

Also 5G doesn't work! Frequency is too high and you loose the signal if you loose line of sight.

https://www.nbcconnecticut.com/news/local/frontier-communications-files-for-bankruptcy-protection/2255798/

[N4longterm]

What irks me about the bankruptcy is they claim they need/plan to upgrade more customers to FIOS. When they took over Indiana, Verizon had left them a local warehouse filled with everything they needed to install FIOS in ALL of northern Indiana and then some. Instead, they sold it all at pennies on the dollar.

[fung_derf]

very useful….oops, I mean useless.

[Lowjack]

The common will be canceled in two days!

[Taurus69]

$ftr $1 with news

[fung_derf]

Funny how sometimes stocks that seem like bargains, you find out later the rest of the story. Thankfully, I am down to 9 shares of FTR. Sold off the rest by 12/18 (which was way too late)

[Lowjack]

Going to Zero!
https://www.fiercetelecom.com/telecom/as-bankruptcy-looms-frontier-laments-lack-fiber

https://investor.frontier.com/Cache/IRCache/95312688-96dc-7fc4-ea51-914c6e408a16.PDF?O=PDF&T=&Y=&D=&FID=95312688-96dc-7fc4-ea51-914c6e408a16&iid=4057107

[fung_derf]

.36 with no news

[Taurus69]

$ftr $1 with news

[fung_derf]

Now that you're a moderator here, how about expounding on why?

[Taurus69]

$ftr $1 with news

[Lowjack]

If they have Nortel on their resumes, show them the door!

2 BK's can be attributed to them!

[Taurus69]

$ftr $.3686

[Lowjack]

A.I.'s are dumb!

They are only as smart as the programmer!