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FSNNQ: Bankruptcy PLAN effective. All shares cancelled.
https://otce.finra.org/otce/dailyList?viewType=Deletions
So why the sudden raise in interest? We are up about 400-500% from the lows rn.
Can someone confirm voting to auction assets?
how is restructuring working ? COMMON EQUITY safe?
nice Volume today - 70 % PLUS - something is brewing .
i Got this form my broker. Can anybody translate into "normnal speech" ???
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ATTENTION DIRECT AND INDIRECT HOLDERS OF, AND PROSPECTIVE
HOLDERS OF STOCK ISSUED BY FUSION CONNECT, INC.:
On July 3, 2019, upon the motion (the “Motion”) of Fusion Connect, Inc. (“Fusion Connect”)
and its affiliated companies (the “Debtors”), the United States Bankruptcy Court for the Southern
District of New York (the “Bankruptcy Court”), having jurisdiction over the chapter 11 cases of
the Debtors, captioned as In re Fusion Connect, Inc., et al., No. 19-11811 (SMB) (the “Chapter
11 Cases”), entered a final order effective nunc pro tunc to the commencement of these chapter
11 cases, establishing procedures (the “Procedures”) with respect to direct and indirect transfers
of, and claiming a worthless stock deduction with respect to, common stock of Fusion Connect
(“Common Stock”), including options to acquire Common Stock.
In certain circumstances, the Procedures restrict (i) transactions involving, and require notices of
the holdings of and proposed transactions by, any person, group of persons, or entity that is or, as
a result of such a transaction, would become a Substantial Stockholder of the Common Stock and
(ii) claims by any Majority Stockholder of a worthless stock deduction under section 165(g) of the
Internal Revenue Code with respect to the Common Stock (a “Worthless Stock Deduction”). For
purposes of the Procedures, a “Substantial Stockholder” is any person or entity (within the
meaning of applicable regulations promulgated by the U.S. Department of the Treasury, including
certain persons making a coordinated acquisition of stock) that beneficially owns (including
options to acquire), directly or indirectly at least 3,893,400 shares of Common Stock (representing
approximately 4.75% of all issued and outstanding shares of Common Stock), and a “Majority
Stockholder” is any person that beneficially owns at least 38,934,000 shares of Common Stock
(representing approximately 47.5% of all issued and outstanding shares of Common Stock) or any
person that would be a “50-percent shareholder” (within the meaning of section 382(g)(4)(D) of
the Internal Revenue Code) of Common Stock (as defined in the Procedures) if such person
claimed a Worthless Stock Deduction with respect to such securities. Any prohibited acquisition
or other transfer of Common Stock (including options to acquire Common Stock) will be null
and void ab initio, and any Majority Stockholder is prohibited from claiming a Worthless Stock
Deduction in violation of the procedures. In addition, any prohibited acquisition or other
transfer of, or claim of a Worthless Stock Deduction with respect to, Common Stock (including
options to acquire Common Stock) may lead to contempt, compensatory damages, punitive
damages, or sanctions being imposed by the Bankruptcy Court.
The Procedures, as approved on a final basis, are available on the website of Prime Clerk LLC,
the Debtors’ Court-approved claims agent, located at https://cases.primeclerk.com/Fusion, and
on the docket of the Chapter 11 Cases, Docket No. 19-11811 (SMB), which can be accessed via
PACER at https://www.pacer.gov.
A direct or indirect holder of, or prospective holder of, Common Stock that may be or
become a Substantial Stockholder or a Majority Stockholder should consult the Procedures.
SRF 34219
WEIL:\97090811\4\99910.E222
2
PLEASE TAKE NOTICE that the requirements set forth in the Procedures are in
addition to the requirements of Bankruptcy Rule 3001(e) and applicable securities, corporate, and
other laws and do not excuse non-compliance therewith.
Dated: New York, New York BY ORDER OF THE COURT
This says next meeting is July 19th...can you post a link where you found that Aug 1st date please?
https://cases.primeclerk.com/Fusion/
the next interesting hearing will be. 1st august 19
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Notice of Hearing for Application of Debtors for Authority to Retain and Employ Weil, Gotshal & Manges LLP as Attorneys for Debtors Nunc Pro Tunc to Commencement Date (related document(s)167, 88) filed by Sunny Singh on behalf of Fusion Connect, Inc., et al.,. with hearing to be held on 8/1/2019 at 10:00 AM at Courtroom 723 (SMB) Objections due by 7/18/2019,
Attachments:
very stupid bidwacker. LOW VOLUME . No Reason to panic . Hold and Enjoy your future gains
It's the day after July 4. Very few people trading today. Low volume take downs will be a common occurrence today.
MY CRAPPY LS SHOWING .05X.085
BIDS .05 THEN .03 THEN .02'S??
WHERE DID ALL THE BID SUPPORT GO>??
FSNNQ
nobody is selling. Easy trading . Little volume before the 4th of JULY
HOLD TIGHT to your shares
it is holding the levels -> VOLUME KICKIN IN ! IF COMMONS ARE SAFE then Explosion to 5 DOLLAR . MARK MY WoRDS !
Thanks... I've been "spreading the word" about this stock ever since it went Ch 11, as one of the best Q stocks since $SHLDQ... I kept "averaging down, and averaging down" all the way to .013! I have now sold enough to have 100% gains and a lot of "free" shares to hold for the ultimate outcome or .25... which ever comes first, lol.. GLTY
It’s definitely not Ihub money moving this up! Hubbers are along for the ride.
Or not :)
Congrats to those that bought prior to tis pop in share price.
Yep, same here.... but would love .25 or so... won't be more greedy than that, lol
Awesome call!! Riding free now so less worries.
Just remember where to send your referral check...
So who was the joker selling 10,860 shares at 2/10 intervals? Someone got sick of it and wiped them all out! LOL!!
PUMA-sucking up more! Not done yet!
Big bidder at .089 now!
That would be awesome, and it's totally possible with the tiny trading float that is left here...
.099> going to .20+ by closing bell.
My best stock this year!
Almost to dimeland.... not enough volume to sell yet... Maybe hold for quarter land?
10 Dollar TARGET?
.08's are gone - asking .09...
me too ! i think Holcombe is the key investor
That 1 shareholder with 50 million of the 80 million shares outstanding is why I bought...
i am holding every single share !
ASK IS VERY VERY THIN ! > LOW FLOATER.
If the Commons get safed then we have an Explosion !
Volume kicking in .... .077 up 61%
We are headed to .10's for sure - hold those shares, imo...
.062 > thanks to Moody's rating. FSNNQ
It would be epic! One interesting aspect is we have a shareholder with 50 mil shares so that would help the commons to survive. We will know for sure in the coming days.
DAMN MAN. If that would be the CASE - this will be the run of the year !
I think it was a good sign that the wiping out commons was not mentioned in the documents! If it was a needed option it should of been brought up. Imo
.05 gone PUMA hungry! Another good sign!
the big question is .... get COMMONS WIPED OUT?
NEWS... Moody's assigned a Baa2 rating to the dip facility... which is good for a Q stock!
Today's trading - no sellers at the bid is a good sign... Just a few buyers at the ask, likely the outcome of equity or not for the commons was not yet settled at the meeting... However, the way they are continuing to run the business, and not selling it all off is a good sign, however, if they sell a subsidary and get a nice chunk of cash, that could rocket the stock, imo.
FSNNQ- check out results from creditor meeting, business to continue, good sign! IMO
https://cases.primeclerk.com/Fusion/Home-DocketInfo
Maybe we see .10+ tomorrow.
Yes, only 22 BM not to many ihubbers in the play, outside money bidding imo.
BIDS were increasing as the meeting was progressing with nice ask slaps near the close... Great signs, imo...
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