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He or she is picking up the slack for getmoreshares... Strange to say the least
Thank you bud! Lets see what happens!
Sorry, one more post.
The deal could still fall through, and everything goes up after I sell so sending positivity out to those holding.
I was holding out for a piece of that 4.5%. Not happening so I bailed. Again, good luck to all.
Hello Scott,
To answer your question directly, there will be no equity shares available, nor will your shares be moved into the new organization after the deal is completed.
Here’s the reason. The secured term loan lenders have a $449.5 million claim against Orchard Acquisition and the other term loan obligors. The holding companies (i.e., the Partnership and the PubCo) have no independent assets other than their respective equity interests in subsidiaries. Therefore, no value should flow up for distribution to holders of interests in the Partnership or PubCo unless and until the term loan lenders are paid in full.
The term loan lenders will be impaired under the proposed restructuring and will recover far less than the face amount of their claims. Nevertheless, after hard fought and intense negotiations, the term lenders agreed to provide for a distribution of 4.5% of the equity in the reorganized company, or 4.5% of $145 million in cash, up to a maximum of $5.7 million, or a mix thereof, to holders of interests in the Partnership. The Partnership interest holders include the company’s existing equity sponsors as well as the PubCo, which holds 55.4% of the Partnership interests and is the Partnership’s managing member. Therefore, PubCo is entitled to 55.4% of the 4.5% equity being made available to Partnership interest holders.
PubCo itself has various stakeholders, including certain entities that are parties to a tax receivable agreement (the “TRA claimants”) and public equity holders. The TRA provides that upon a chapter 11 filing of PubCo, an early termination payment under the TRA will be due and owing by PubCo. The claim under the TRA is a general unsecured claim against PubCo. The public equity holders have an interest in PubCo which is junior to all unsecured claims against PubCo, including the claims of the TRA claimants. The Bankruptcy Code’s “absolute priority rule” requires that (absent consent of the senior claimants) all claims be paid in full before junior equity interests are entitled to a recovery. Here, the TRA claimants will be considerably impaired, and there is no value remaining unfortunately to flow up to public equity holders.
So, the bottom line is that there just wasn’t enough recover to go around.
Sincerely,
Erik
I finally received an email from Erik. He made it clear current shareholders getting nothing. I had to sell.. glta
We are nearing the last chance for fearful traders to get out....Go gjwe
We need the volume to move this....no buyers looks like..
Not a good day, was hoping we continue marching north
Ridiculous bid/ask spread. MM's catching stops? Volume and we fly..
I have a feeling we will get some positive developments here very soon, update on BK or a PR
I'm not expecting any news on this for a few weeks. That makes this current time "playtime."
Lets close above .02 today and tomorrow with news we fly
Lets see if we get some kind of news this week, until then looks like no sellers here
nobody selling their shares down here (-;
Anything is possible. .05 - .20 is what I'm expecting...
Can we close this week above .05? I say its doable!
Great stock for swing playing. $JGWE
Okay that's a noble commission you have taken on. I commend you. Now let's prepare ourselves for a great financial reward here at jgwe....
Until then
Keep up the good work
just do not want them to be blindsided--Hell-all OTC are risky!
Even though I hope that's not the case; I also can't think of any other reason as well.
I celebrate when other people get a cheaper price than I do. I know another man's good fortune will also trickle down to me, if I have the right attitude...glta
Thats absolutely FALSE!
do not want everyone to loose their $$$$$$.
CH 11 wiped me out many years ago= did not believe that the shares would be worthless- just posting what I know.
If anyone wants to trade it-- just know the FACTS.
Not saying you cannot FLIP for a few bucks-- JUST DO NOT BE HOLDING when the BK goes thru.
He is mad cause he didn't buy in when it was close to .01! Now he is going to be furious when this is trading above .10!
You're not typically like this. What happened between you and this stock ? Why all the constant negativity ?
That will be great this week
that type of "stunt" is illegal.
LMFAO ROTFLMFAO
Alright, lets see whats in store this week
I have a feeling that JGWE mgmt is not that stupid and have been accumulating shares dirt cheap, plus the warrants were extended....just think about it...why would they do that if going public.....hmmmm
This could bounce to .15-.20 very quick with some good update
Lol J.G ain't dumb they pulling a stunt to make moolah, let's ride it with em!
GLTA investors
***MUST READ*** https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12383060
Take the time to at least skim this cause this stock price is about to correct back above .20 and maybe you'll begin to understand this once you stop being lazy and read!
Hint hint the company extended stock options until 2019 hint hint
the Q isn't in effect yet
11/14/2017 its already here
when is the Q coming?
I'm expecting a humongous recovery. Just because it's the holiday season baby... Lol
I am still in the waiting phase, plus I do not have any available fund for another 10 days to place here, so I HAVE to wait, regardless, but I still see some more downside, so I will be watching for now
Thanks Jindal, same to you! Terrific day today as it proves selling is done as we closed up heading into a weekend after shortened sessions from the holidays! I believe .05 is the worst case scenario here .10 is very likely .15 can certainly be had .20+ all depends how deep the pockets are on the big boys or how big their respective balls are (-;
might be the easiest 100% winner in all of the OTC right now lol
$JGWE
Thanks for your thoughts here regardless if I agree with your or not doesn't really matter, at least you aren't trying to convince people to buy or sell like some other EXTREMELY desperate posters have been doing the last few weeks! One has to begin to wonder why there are so many people still here posting how worthless this stock is right?? I mean wouldn't they have just moved onto another stock board by now? Why do they continue to post here daily if they truly believe this is a worthless POS?? (-;
Food for thought...
Strange how this isn't even coming close to .01 and strange why there have been bids ranging from 10,000.00-35,000.00+ the last couple weeks and why there are still 10-13 different market makers appearing on bid for a stock that is going to be worthless...
Yep I think I'll take seconds and thirds of some $JGWE gravy lol
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