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Oh, so fact. Thanks.
The same place your assuming it's common shareholders.
Where does it say that? I musta missed that part...
Ya but again not common share holder
From Fretitta's mouth:
"...Landry's soon appeared in court with a $55 million offer, arguing that Ignite had an obligation to shareholders to take the higher bid..."
https://www.google.com/amp/www.chron.com/business/retail/amp/Tilman-Fertitta-wins-Joe-s-Crab-Shack-in-11882602.php
Hey I was a believer untill I dug deeper.
Because he will get paid out first. He has class a stocks and with that comes certain rights like possible getting your shares paid out or a certain portion. These common stocks you have. Have no rights.
Nas is what min 3-4 a share ?
Sounds like he is planning on keeping 60 stores open for starters .
The CEO of IRGTQ still owns nearly 130,000 common shares in the company. By the tone of your commentary you'd think he would have dumped those a long time ago but he didn't. Why? All indications are that Landry's spins this company off, keeps the ticker and returns it to a major exchange, but keep fishing for weak minded shareholders. Good luck, no one is dumping at these pathetically low levels.
https://ih.advfn.com/p.php?pid=nmona&article=72946658
Ignite Restaurant Group Sale Approved - http://bankruptcompanynews.com/ignite-restaurant-group-sale-approved/
If it wasn't for the little man supporting the business . The big boys would not be where they are at today . That goes for all business . I agree with you .
I think Tilman Fertitta cares about the average Joe Schmo
It's the average Joe who frequents his restaurants.
Time will tell, I'm holding win or lose. Good luck
Coverage today from Dow Jones Newswire posted on E*TRADE today
Shareholders as in preferred class A most likely. Regular joe shmo common gets 0
Ever closed on a house? This is the same thing except you have a lot more moving parts. I've bought and sold five houses in my life, and I have had two buyers back out on me at the last second for technical reasons. In this case Tillman is not going to back out because he has $10 million of good faith money involved, however did you notice that the debt holders still have a right to petition the court up until August 29? I don't for see any problems as is indicated by the shutdown of the poor performing units , To me that shows a high level of cooperation
Is Tilman allowed to speak his plans or does he have to wait till the court clears him before he can hold interviews with the future of crab shack and shares .
Page 7 of 36-7-greater recovery for Debtors' creditors, shareholders and other interested parties than would be provided by any other practically available alternative.
Also, notice that the CEO still has over 120k common shares. https://ih.advfn.com/p.php?pid=nmona&article=72946658
Why are you here?
Prove it in the court docs then copy and paste for all to see. Seeing is believing
Court docs show common shares should survive. But unfortunately the OTC thrives on people that, to borrow a phrase from Zoolander, "don't read too good."
IRGTQ At Dumping Prices!
Time and time again we see a fake 100 share sell, followed by a couple of more to cause someone to panic and give away their shares. Sellers at these levels are just like Wildebeest on the Discovery channel that stick their heads in the river to get it chomped off by lurking gators, right after they just saw it happen to one of their buddy's a few minutes before. Ridiculous.
On a $24 trade no less, lol!! No one is falling for these games, just waiting patiently. Shares locked, good luck getting them for cheaper!
Suckers maybe, maybe selling to themselves, not many sellers at all, period.
Oops back down again. Sell to the mms and then buy at the ask.
Sorry! I tried several times now. The upload process in settings isn't working. Just sits there and spins!
Sorry trying to pay L2 for ya but can't figure out how to post a pic or screenshot from phone?? If anyone can tell me how I'd be more than happy to post it!!
Bid- .06, .06, .0509, .05
Ask-.09, .09, .01, .01, .01, .011
Can't right now. Sorry! Got a plumber at the house.
Please post level 2.
There are hidden shares between the spread.
I am not able to post level 2 with this phone...plus going out to work.
Thanks for posting level 2 in advance.
Oh yes continue to buy on the ask from mms and sell on the bid to mms. Yawn.
For sure, and Tilman owns a casinos in Vegas that Donald Trump let go...Tilman spent over 50 million refurbishing that casino.
He gets a thrill out of money, and doing good things for people.
No way he would hurt the share holders.
Probably pay each shareholder .20 cents per share, if commons were allowed to go, but commons are here to stay.
We IMO are sitting on the tip of a Saturn V rocket. Could be multiple stages here. I did see that his boat is priced at about 40 mil, so it makes me laugh when I see mamby pamby posts about "80 million in debt...blah blah blah"
This is an intelligent bet. Yes it is a gamble, and if we win, I'll take a trip to the Golden Nugget and play some more.
Agreed! I'm holding my shares to se what comes out of the next court date!
Anyone catch this mention of Shareholders in the Docs?
Page 7 of 36-7- greater recovery for Debtors', creditors, shareholders and other interested parties than would be provided by any other practically available alternative.
It sounds to me like the Judge and Tilman are thinking about the shareholders since the word shareholders is clearly used in regards to monetary recovery efforts. Yeah, they can pry my shares from my cold dead hands.
Lol,yeah but have you seen his boat?!?!?
Too big for this tiny 4 million share float that has ZERO chance of dilution.
Ahhh...soon as the news pops and the buying frenzy begins....THIS FLOAT WILL BE BOUGHT UP WITH A FEW WHALE CHOMPS!!!
WEEEEE
$$$$$$
Float his boat in the float you mean LOL 75k buys at .08, the market waits...I think we might have to wait until the 29th for news, but I am not selling anything before then.
Everybody Is Talking But Don't Know The True, The Whole True!
Tilman could buy this entire float right now and use it for his mega-boat.
The Market Thinks the other Way. There is definitely something going on here. Lot's of pieces of DD indicate that the commons will stay intact. Just curious why you care so much if you have no financial interest here?
Everyone consider commons canceled untill public confirmation they are not via a company pr. so far they are in my book.
Best article yet on summary of getting back Joe's
http://www.chron.com/business/retail/article/Tilman-Fertitta-wins-Joe-s-Crab-Shack-in-11882602.php
At this point I don't expect any national coverage until after August 29th.
Tilman article on leveraging money:
"Always borrow money when you don't need it"
https://www.cnbc.com/video/2017/03/24/billionaire-shares-his-best-advice-about-borrowing-money.html
IMO raising money in a reverse merger is essentially the same thing, you are borrowing money from shareholders.
Made up numbers are not taken seriously either.
"...95-100% odds that the commons will still be cancelled...."
"Betcha" isn't good support for ur argument
I doubt that. Betcha he ain't buying the company or the rest of the debt.
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Houston-based Ignite Restaurant Group submitted its Chapter 11 plan and bidding procedures for the company’s two brands— Joe’s Crab Shack and Brick House Tavern + Tap — in bankruptcy court this week.
So far, two companies have officially offered to buy Ignite’s brands. The bidding process will give other companies until 4 p.m. Central Time on Aug. 3 to submit a competing bid.
When Ignite first filed for Chapter 11 bankruptcy protection in June, the company said KRG Acquisitions Co. LLC, an affiliate of San Diego-based private equity company Kelly Cos., had agreed to buy both brands for $50 million.
Houston-based Landry’s Inc. then filed a bid with the bankruptcy court to buy the brands for $55 million. At the time, Landry’s also described how previous talks with Ignite had fallen apart and objected to Ignite’s earlier bid procedures motion. Landry's, led by Houston billionaire Tilman Fertitta, owned Joe’s Crab Shack in the 1990s and grew the brand to more than 100 locations nationwide before selling it in 2006.
Now, any other company wishing to bid on the brands must offer a purchase price of at least $55.1 million, among other requirements, according to the procedures filed July 6.
If a bid is received that complies with the requirements, it will be included in an auction with the previous bids. The auction is expected to be held on Aug. 7 at 10 a.m. local time at the offices of King & Spalding LLP in Houston. Then, a sale hearing is scheduled for 3 p.m. Aug. 17 in bankruptcy court in Houston. A deal won’t be considered accepted until it’s approved by the bankruptcy court.
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