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Looks like some orders issued today to keep business going! Good sign IMO!
https://cases.primeclerk.com/Fusion/Home-DocketInfo
That's what buyers Friday (and today) are banking on.... This could be huge!
If it breaks .05, MMs will scramble it it will push hard! Seen this type of play too many times! Traders dream!!!
Yea playing games!! But if volume comes in they will be caught with their PANTS DOWN
God these OTC MM are the WORST. Opening up a 50% spread and dumping 200 shares into the bid.
News should post around 2-2:30 today. SHOULD! If so , could see SHLDQ TYPE RUN!!!!
Cool thanks for sharing that!
No objections where filed by deadline yesterday by creditors!!! This should see major upswing when people take notice!
Gotta be kidding me with this spread LOL
I would say you are spot on DD
How can a trader sell what he/she hasn't bought yet?
Monday will be the day, that the stock could explode as a result of the big creditor/debtor meeting at 2 p.m. It could be Tuesday before the details hit, but today could have been just a warm up...
Y'all should be selling not buying imo...
$FSNNQ: Awesome bounce here... Achaogen is next
Another BK just waiting for its turn.
GO $FSNNQ
Yea, I've been buying at several prices... starting at .05, but am finally green on my position... Thinking to let some go near .10... could happen fast...
HOLY COW! > $$$$$ > I immediately bought a few.
Got a buyer chasing. 15M floater
.05 +200% WOOOOW
FSNNQ
You bet... people getting in before Monday's meeting... All these huge bids tell me good things are about to happen.... .10 could be coming soon...
Looks like we got a runner DD
There is one seller that really wants to unload his/her shares... He/she has been walked down from .02 to .0171 now... There are large bids at .013... That looks like what it will take to get the seller's share's off the ask...
Yea, and $FSNNQ has one shareholder with 50 million shares... That makes the situation very interesting here now, at this price, because we keep getting the HUGE BIDS....
It would really be nice to know why they are buying these 200,000+ blocks down here...
Sears had a float of about 100M shares. FSNNQ has a float of about 10-15M shares.
CHART-COMPARISON $FSNNQ and $SHLDQ right before 400% run...
If you notice how both were in sharp downtrends for extended periods of time after filing CH 11, and now check similarities that are in the blue boxes on each chart...
RSI and MFI are way OVERSOLD - and accum/dist on the bottom ready to turn higher. Volume is way way low, indicating little interest, until it starts to run! GLTA
Definitely not disagreeing
..
Whomever is buying all these shares now, must have some information though, to be throwing this kind of cash at this... Over $12,000 dollars has been traded down here today....
Huge risk here as there is a lot larger risk vs reward that all commons will be wiped out. You never know though...
That bid just got filled. This one is way oversold. Float here is like only 10-15M, not sure why they punished this one so bad.
483,571 shares bid at .014 - Someone must see some VALUE here to throw that much cash at it! $FSNNQ
Yes, this is speculation for sure... I think the chance it could hit .04 to .10 again before the company comes out of Ch 11 is 50-50 - based on my experience with these type of plays... I cite BIOAQ and SHLDQ as examples where there were great trades off the lows.... And there are many many more...
Wall street is corrupt and manipulates prices all day and every day to where they want it...
However, I 100% agree with the rest!!
Wall Street is usually quite precise in placing a PPS on stocks.
This is no exception.
For me, It is interesting. Look at the list of institutional holders of it's stock.
A series of follies has led it to it's current predicament.
(does not appear to be a plundering of insiders)
Be prudent and purchase only what you are willing to loose on this one.
Chance that the company can come out of bankruptcy and common legacy shareholders see a return back to $4-5/pps .....
1/200
long 30K
Yes, I bought a starter the other day - way too high, lol... but I'm trying to average down here in the .01 range to see if there will be a bounce...
Still haven't see the exit plan posted... or any asset sales posted... Both could cause a huge bounce here...
Agreed. This one is worth a gamble, especially at current PPS.
That's not true - the chapter 11 filing says otherwise... got to see the plan for them to emerge from Chapter 11 first... Maybe there will be a stub stock left with some equity- Remember - one shareholder owns 50 million shares...
Fusion is required to sell all of the assts. This means the company will be shut down and Nothing will be left. All the selling funds will pay part of the creditors like 10%, 20%.
Nothing is left for Commons.
"Pursuant to the Bridge Agreement, the Company has committed to meet certain milestones through May 30, 2019. The milestones include, among other things, the entry by the Company into a restructuring support agreement with the Ad Hoc Group of Term Lenders by May 17, 2019, pursuant to which the Company is required to pursue a sale of all or substantially all of the assets of the Company pursuant to section 363 of the Bankruptcy Code and commence voluntary chapter 11 cases by no later than June 3, 2019, unless an alternative transaction is agreed to by the Ad Hoc Group of Term Lenders. The Bridge Financing is contemplated to convert and be treated as debtor-in-possession financing in the event of a chapter 11 filing by the Company. "
Yes, if that leaves equity for the commons, $FSNNQ will explode.
It will pop for sure. Also waiting to see the bankruptcy plan here.
Yes - already filed BK and dipped, someone holding 65% of OS, good time to buy.
~will be watching~
I agree, but are you buying in down here now?
That's what I said from the beginning. Check my earlier posts.
Very-very-nice - Follow the hearings FREE on-this-website>>>
https://cases.primeclerk.com/Fusion/Home-DocketInfo
Item 1.03 Bankruptcy or Receivership.
On June 3, 2019, the Company filed voluntary petitions (the “Bankruptcy Petitions,” and the cases commenced thereby, the “Chapter 11 Cases”) under the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York (the “Court”). Consistent with the RSA, the Company intends to file the Plan with the Court within 21 days of commencing the Chapter 11 Cases and will seek to emerge from chapter 11 on an expedited timeframe. The Chapter 11 Cases are being administered under the caption In re Fusion Connect, Inc. (Case No. 19-11811). The Company will continue to operate its businesses as “debtors-in-possession” under the jurisdiction of the Court and in accordance with the applicable provisions of the Bankruptcy Code. The Company intends to continue to operate its businesses in the ordinary course during the pendency of the Chapter 11 Cases. To assure ordinary course operations, the Company is seeking approval from the Court for a variety of “first day” motions seeking various relief, authorizing the Company to maintain their operations in the ordinary course. Court filings and other information related to the Chapter 11 Cases are available at a website administered by the Company’s noticing and claims agent, Prime Clerk LLC, at https://cases.primeclerk.com/Fusion.
In connection with the Chapter 11 Cases, as contemplated by the terms of the RSA and subject to approval of the Court, Fusion has secured the backstop commitments from members of an ad hoc group of first lien lenders to provide a debtor-in-possession financing facility and expects to shortly enter into a Superpriority Secured Debtor-in-Possession Credit and Guaranty Agreement (the “DIP Credit Agreement”), by and among Fusion, as borrower, certain subsidiaries of Fusion, as guarantors, the lenders party thereto and Wilmington Trust, as administrative agent and collateral agent. The DIP Credit Agreement will provide for a superpriority secured debtor-in-possession credit facility in the aggregate principal amount of up to $59,500,000, including $39,500,000 in the aggregate principal amount of new money term loans, subject to the terms and conditions set forth therein.
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