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Yes. Filings trump emails any day.
Any bets that email is fake???
kiaranmclaughlin, you should be reported to the SEC for posting false statements like that!!
not me....I have better things to do than chase wild stuff like that. Anyone can change an e-mail....the filings say different, and they cant be changed....I'll take the filings
Well... I think that's kinda blindingly clear. And they also describe exactly what will be done with the new stock to be issued.
Has anyone tried to confirm the authenticity of that email with the IR people?
it didnt say commons would be, it says..."The present equity interests will be cancelled. "
maybe they didnt know it was the same thing
Why don't you answer janice shells' question????
I went thru all this with them last night....but they still see hope, and speculation.
maybe from this...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58718009
some people just cant see the facts and use common sense. If you want to try and flip it for what it is and call it that, fine....but all this talk of the company coming out of BK with holders intact is crazy.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58733000
HUH??? What part of "the common is about to be cancelled" don't you get?
That's what is commonly know in the BK stock world as the Kiss of Death Clause!!
There's something I'm not getting here. JENNQ filed its most recent quarterly report on 11 January, only a few days ago. In it, on pages 5 and 6, they announce unequivocally that when the reorganization is complete, the company's principal creditor will own 90% of the company's new equity securities. The remaining 9.9% of the new equity securities will go to other unsecured creditors, and...
The present equity interests will be cancelled.
http://investors.jenniferfurniture.com/pics/userpics/File/2010-11-27%20Form%2010Q.pdf
So why are you encouraging people to buy stock that will soon be cancelled?
LIKE I SAID JENNQ IS A SCAM
ceo is known for lies lies lies
the ceo scammed previous shareholders!!!!
Sure doesn't look good....
Jennifer Convertibles Reports First Quarter Results
- Revenue from continuing operations increased 3.6% for quarter - Comparable store sales decreased by 18.9% for quarter - Loss from continuing operations ($3,422,000) versus ($5,903,000) for quarter - Basic and Diluted Loss Per Share ($0.48) versus ($0.97) for quarter
WOODBURY, N.Y., Jan. 11, 2011 /PRNewswire via COMTEX/ -- Jennifer Convertibles, Inc. (Pink Sheets: JENNQ) announced today its financial results for the first fiscal quarter ended November 27, 2010.
For the first quarter, revenue from continuing operations increased by 3.6% to $18,520,000 from the $17,877,000 reported for the same period last year.
For the first quarter, the Company had a net loss of $3,360,000, or ($0.48) per basic and diluted share, compared to net loss of $6,870,000, or ($0.97) per basic and diluted share for the same period last year.
For the first quarter, operating margins from continuing operations decreased to 24.7% as a percentage of revenue from continuing operations compared to 28.0% for the same period last year.
For the first quarter, selling, general and administrative expenses from continuing operations decreased by 6.7% to $7,073,000 from $7,580,000 reported for the same period last year.
During the first quarter, the Company closed ten stores of which four were located in New York, three in New Jersey, two in California and one in Virginia compared to one store closing in Arizona in the same period last year. The operating results of the closed stores in New York, New Jersey, California and Virginia are recorded in continuing operations based on management's judgment that there will be significant continuing sales to customers of the closed stores in other stores in the area. The operating results of the closed store in Arizona were reported as discontinued operations. Income (loss) from discontinued operations was $62,000 and ($967,000) during the thirteen-week periods ended November 27, 2010 and November 28, 2009.
Harley J. Greenfield Chief Executive Officer of Jennifer commenting on the results of the quarter said, "During the quarter we continued to restructure our leases, close and consolidate unprofitable stores, and continue to focus our attention on our stronger markets. Most importantly we focused on our customers, providing them with products that have incredible value and not allowing the bankruptcy to impact them in any way. We intend to exit bankruptcy as a stronger company continuing to satisfy our customer's needs."
Mr. Greenfield added, "We are pleased with the growth of our Ashley Furniture HomeStores Division, increasing revenue in the quarter by almost 80% to $6.85 million from the $3.815 million recorded in the same period last year. In addition, operating income for the Division, before corporate overhead increased by 149% to $419,000 from the $168,000 recorded in the same period last year.
Jennifer Convertibles is the owner and licensor of the largest group of sofabed specialty retail stores in the United States, with 65 Jennifer Convertibles(R) stores and is the largest specialty retailer of leather furniture with 8 Jennifer Leather stores. As of January 11, 2011, the Company owned 73 stores and operates six licensed Ashley Furniture HomeStores.
Statements in this press release other than the statements of historical fact are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including changes in retail demand, vendor performance and other risk factors identified from time to time in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ materially from any forward-looking statements. These forward-looking statements represent the Company's judgment as of the date of the release. The Company disclaims, however, any interest or obligations to update these forward-looking statements.
YEAH SPREAD THE WORD ABOUT THIS SCAM.
Seems your gonna lose everything.
JennQ will be canceled. This one is TOAST over and out. Just read the filings...
you called that one!
WE NEED TO SPREAD THE WORD ABOUT THIS PLAY PEOPLE! THIS IS AN OPPORTUNITY OF A LIFETIME HERE:
YOU CAN EMAIL/POST THE FOLLOWING INFO TO YOUR FRIENDS:
JENNQ DD:
1) HUGE NEWS: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58702810
http://www.otcmarkets.com/stock/JENNQ/news
2) MMs scrambling for shares - failed to box it in today!
3) Great Fundamentals + LOW FLOAT 7M = UNDERVALUED!!
4) Q stock = CANNOT DILUTE
5) They are stronger than ever ---> working their way OUT of bankruptcy
6) HUGE SQUEEZE - MOASS - once .05 taken out, ALL RESISTANCE BROKEN!
7) >.15 coming?
The original Plan for reorganization was filed on 11-19-10 DE # 339. That Plan included reference to the Assumption of Leases or Executory Contracts (Ashley)
On 12-3-10 JENNQ filed a Motion to Assume Leases or Executory Contracts DE # 362
On 12-17-10 JENNQ filed an Amended Plan DE # 384, 385, again referencing the Assumption...
On 12-22-10 Another Amended Plan DE # 399, 401, again, referencing the Assumption...
So, Ashley had THREE opportunities to see what the plan included and like I said, they included the Assumption AND they were aware of the Motion to Assume Leases...filed on 12-3.
Then, on 12-23-10, JENNQ filed another Motion to Assume Leases or Executory Contracts DE # 402 (not quite sure why they filed it again)
It wasn't until 1-4-11 that Ashley actually filed an objection and they objected to DE # 362, not the most recent one filed on 12-23 DE # 402
In my opinion, that just begs the question, why did Ashley wait so long to object and why are they just now objecting to the FIRST motion when there is a SECOND, more recent one, they should be objecting to. They were aware of JENNQ's intentions since 11-19-10....
when shares come out of BK, this can be a 20 bagger from here!!!!
NO ONE IS SELLING!!! TIME TO LOAD UP
It is so obvious that CHDN is short. This could make for a very explosive situation if he continues to get SQUEEZED.
SHARES ARE LIMITED......LOAD UP HERE
Looking thin.....Only a matter of time here. JENNQ going to break for higher grounds.
Yep, MMs were soaking up those .025's...appears not many shares up for sale down here. Eventually will have to go higher if this trend continues.....we will see.
There are literally no shares for sale. Going to collect what I can.
By 10:30 will be sub .02
im calling it right now (just woke up): gonna tank - - no volume, profit taking from yesterday's meteoric rise. you can't gain 400% and expect to be green the next day.
Wow, huge gapper....could have another big day here....
They cannot dilute either correct?
"As of January 10, 2011, 6,979,887 shares of the registrant's common stock, par value .01 per share, were outstanding."
7 mill O/S! Enough said here! This thing runs on nothing! Could see a dime this week in a hurry imo!
im watching purely because the 7MM O/S... I wouldnt wanna hold for long because that decision could come soon.
You can speculate all you want. There have been thousands of BK's over the last 2 yrs or so, and I've been in or looked at a good part of them. I love playing BK plays. Some run on merit, most on a pump, dead cat bouce, or whatever, and I can count on one hand any of them came out in the shareholders favor and by in favor, I mean something worth something....not a 1,2,3% of the new company "gift" or goodwill action, and even those are few and far between.
The court doesnt care about the commons.....you are a minuscule amount in the grand scope of things.
The China company is getting the biggest part of the new company, just count on it, the others will be splitting the rest. Ashley is only worried about themselves, fighting it because they are only getting a percentage of the 9% left over that the China company isnt getting. Ashley isnt fighting for you, the shareholder.....they dont give on rats ass about you the shareholder.....why would they, or any other of the debt holders.....if they did that, it would be more hands in the pot that they would have to split with....it is no benefit to them.
The only chance you have is an equity committee for the shareholders, representing the shareholders only. Recent history proves that the courts dont care about the commons. They have been wiping out shareholders one after the other after the other, company after company....this isnt speculation, it isnt bashing, and it isnt B/S coming from a poster that wants shares, or doesnt have a clue...it is a fact.
Clearly, by the proposal in hand, the company doesnt care, they are wanting to wipe you out....why should anyone else care? If the company itself is not interested in preserving shareholders, no one else will. They didnt even offer 1,2% of the new company as a good will offering....they just said....oh well....tough &*%^ to the shareholders.
You can go thru all the filings you want, all the pacer doc's you want....read between the lines and interject and interpret all you want, but till you have one that addresses the common shareholder SPECIFICALLY,and with more than "The present equity interests will be cancelled. " all you have is hopes and dreams, and they dont pay the bills.
Good luck trading it, for whatever the angle is here, Bk's can run, but they've left a lot of empty handed traders and shareholders in the end.
But the questions remain at what date do the shares become worth zero, this will need to be known soon imo.
Every filing says the commons will be canceled...if that had changed they would have put out a new filing disclosing this. As of right now everything says commons are toast and will be canceled.
agreed... pumping like that actually takes away creditbility. And fake e-mails from the company do too...
The current 10q says that is what is currently proposed (contemplated plan). It also states the following on Page 13:
"The ultimate resolution of the Chapter 11 proceedings will be determined by the Bankruptcy Court and will involve
extensive court proceedings. Accordingly, there is no assurance that the contemplated plan of reorganization will be implemented."
There are two upcoming court hearings Jan 14th and Jan 25th.
Here is a searchable version of the latest filing:
http://www.dailyfinance.com/company/jennifer-convertibles-inc/jennq/nao/10-Q/11522909/pdf/sec-filings
Thank you for that post sir!
Last 10q clear as a bell says all commons to be canceled, top of page 6...The present equity interests will be canceled which means all the shares trading now will be canceled and worth zero. Then they will issue all brand new shares 92% of them will go to one supplier, the other 8% goes to other creditors. The 10q filing says zero shares will go to current shareholders. Emails can be altered to say anything....10q filings can't be.
http://investors.jenniferfurniture.com/pics/userpics/File/2010-11-27%20Form%2010Q.pdf
LOW FLOAT = BIG RUNNER!!!!!!!!!1
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