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I don't think we're going to live long enough to ever see a penny out of this.
I don't think they're going to give us our money this month. Maybe next month. Maybe next year. Maybe never.
Well, there were new directors named to oversee the bankruptcy so imagine they'll soak a paycheck for a few months.
Please give us the money. Not cool to service only the mega rich and piss on the little people
GIVE US OUR EFFING MONEY.
Nothing left that I know of. Hopefully it doesn't drag out too much longer but I'm not keeping my hopes up.
NEWS. On Thursday they will make the final payment to the lenders. They also appointed two new guys to the Board of the Trust. They're probably experts in sucking distressed companies dry.
They have to wait until the money's all gone. They still get paid.
what is this post about is HERO being reborn?
Yea, I saw that. I wonder who will get that money. I also wonder how much longer this is going to drag out. It seems to me that those were the last remaining assets so I would think it's time to end this soon. I seem to remember reading about some kind of hearing in April so I imagine there are still disputed claims to settle.
20 Million in Recent sales
Have you noticed that the cash has started to disappear? Net cash flow for the last two months has been -3.2 million and -4 million. The "Trust" continues to market the assets. Bullshit. They continue to get paid. The longer this continues, the less we get and the more they get. Just as I expected. We'll eventually end up with nothing. They won't even distribute more cash to the lenders. What a scam.
The pumpers and their lawyers won and we lost. Number one Pumper was Fire Captain 9.
Many of us lost a great deal and some of us learned from this horrible experience. I might be wrong about the fire Captain, but I do not think so.
How can the shareholders possibly benefit? I'm just hoping to get SOMETHING back. If you're paying attention you probably noticed that last month the remaining money started to disappear. If this thing keeps dragging out (like I suspect it will), there will be no money left for us. The people in charge have no incentive to end it. They are still getting paid.
HEROQ, Too bad our BOD had to fold...... Oil is headed back up.
Hope some how we benefit from these higher prices as shareholders.
GLTA Longs
They were owed 254 million so they are still owed 63 million.
Lenders have been payout out 191 million thus far. What are they owed again?
I talked to Prime Clerk and they fixed the link. It reveals the sale of 3 of the Nigerian fleet boats for 9.2 million.
SIGNIFICANT DEVELOPMENT REPORT - Unfortunately the link on Prime Clerk doesn't work so I'll guess we'll never know what the significant development was.
When hell freezes over?
New Numbers are out. Still saying we are getting 4.23/share
Maybe so. But by the time the shareholders get their next distribution there won't be anything left. From one scam to the next.
I´ve heard, the next distribution will take place in about 12 month or so..
No more money has been distributed in over 3 months. I told you Prime Clerk was a big scam. They are going to bleed the money dry as they distribute it to themselves.
Don't count on it. The money in the reserve accounts is disappearing.
New update at prime clerk. Sure would like to get my money
Prime Clerk is turning out to be a bigger scam than Hercules Offshore. They will not distribute any more of the money so that they can keep their big fat salaries going. I'm surprised they haven't been sued for false intent. They are going to keep this scam going until all the money is gone apparently. I'm sure they are working real hard trying to sell the rest of the assets. Believe that and I've got a bridge in Brooklyn to sell you.
Give us our f$%#ing money! The scam artists running Prime Clerk are going to milk this until there is nothing left. They are sitting on well over $100 million yet they won't pay anybody anything.
Where is the All knowing "Captain 9" that constantly hyped HERO? He sucked us all in with his superior knowledge. Pumper...he was.
Nothing on the docket, yet they won't distribute any more of the cash. My suspicion is they want to draw this out as long as possible until they soak up all the remaining cash. Just another giant SCAM.
Third payment made to the lenders - $12 million more. This is playing out just as I thought it would. They are making this last as long as possible to drain all the money they can from what's left. I doubt there will be anything left over after a couple more years of this BS.
Of course the 4.23 is real. But that is a total of the asset value as of Dec. 2, 2016. Since then we have been paid .75 per share so I'm not sure if that will be deducted from the 4.23. I guess we'll know more when the next monthly report is issued. A lot has happened since the last report. There were two distributions to the Wind Down Claimholders and some sales of assets have settled.
So the 4.23/Share isn't Real? What gives?
Ok, now I see where you saw that valuation. I didn't check the Prime Clerk site until today. There is still $67 million in the disputed ownership fund and we the shareholders will get whatever is left over from that too. I hope the expenses going forward can be kept low so that there is something left over for us. There is still a bit of uncertainty.
Where are you even seeing that?
Looks like your numbers were close Mike. Lastest is showing 4.23 to shareholders. Hope I'm seeing that correctly.
That's another thing that is hard to tell. The link put up on Prime Clerk of the assets as of Dec 2, 2016 does not work. That's probably intentional. I'm of the opinion that most everything in this country is a scam and I imagine Prime Clerks was designed by someone with a lot of money to extract a lot of money from bankruptcy cases. Just another scam - much like Hercules Offshore was a scam for much of the last decade. I'm just hoping at the end of all this there will be a little something left for us shareholders. I wish I could be optimistic but that's really not possible.
How much is left to sell for HERO?
It all depends on how much is left after the lenders have been paid. I'm always skeptical. The thing is, we are not being told how much money is left in the "reserve accounts". I know there was $85 million put into one but I don't even know if there are other reserve accounts. I could not find out any information on others. But every month we are told there were reserve account(s). Plural.
It all depends on how much is left after the lenders have been paid. I'm always skeptical. The thing is, we are not being told how much money is left in the "reserve accounts". I know there was $85 million put into one but I don't even know if there are other reserve accounts. I could not find out any information on others. But every month we are told there were reserve account(s). Plural.
What happened to this theory MikeDotcom? Do you still see a chance of this 5 bucks a share?
That 27 million goes to the lenders, not us shareholders. After this payment the lenders will have been paid $142 million out of the $254,326,604 that they are owed. There is nothing added for us. The only thing adding to our total would be sales of the remaining assets. We're only getting the crumbs of what's left. And it's still hard to tell what's going to be left - if anything.
2ND DISTRIBUTION - APRIL 5
This means 27 million added for commons if I understand this correctly that means 1.97 per share and more added soon!
https://cases.primeclerk.com/herculesinfo/Home-DownloadPDF?id1=NTc0NTk2&id2=0
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Hummm, How much are we getting?
https://cases.primeclerk.com/herculesinfo/Home-DownloadPDF?id1=NTcwODQ2&id2=0
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Thanks Mike what was your average purchase price that will give me idea
That was so long ago I really can't even remember. It sounds like your brokerage has definitely screwed up though. Don't count on having much money left. In the last few years my $295,000 turned into less than $4000.
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Hercules Offshore, Inc., together with its subsidiaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry in the U.S. Gulf of Mexico and internationally. It serves integrated energy companies, independent oil and natural gas operators, and national oil companies. As of March 31, 2009, the company owned a fleet of 31 jackup rigs, 17 barge rigs, 3 submersible rigs, 1 platform rig, and a fleet of marine support vessels operated through Delta Towing, a wholly owned subsidiary, as well as 60 liftboat vessels and 5 liftboat vessels owned by a third party. In addition, the company owns 4 retired jackup rigs and 10 retired inland barges located in the U.S. Gulf of Mexico. The company was formerly known as Hercules Offshore, LLC and changed its name to Hercules Offshore, Inc. in November 2005. Hercules Offshore, Inc. was founded in 2004 and is based in Houston, Texas.
Suite 2950 11 Greenway Plaza Houston, TX 77046 (713) 979-9300 (713) 952-7990 http://www.herculesoffshore.com
HERO
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