A Mandatory Reorganization FEE was recognized today and the brokerage charged $38.00 for eliminating the entry from ones account...WTF.????, they THEN Sold whatever number of shares that were held in the account for $0.0279 per share.
Can someone who understands what went on kindly explain the cause and reasoning for this to happen today?
Mark E. Ellis (Linn Energy CEO):what is the plan to convert the "LINCO -ESCROW SHARES" to LNGG shares and when?
You trade Linn Energy shares for LNCO shares, so Linn Energy can restructure. So, now that Linn Energy Inc. completed its restructure and is back trading under the LNGG symbol at the $37-38.00 per share. When can we expect the LNCO to LNGG conversion 1 to 1?
Or should we let LNGG share to get to $50 and than file a lawsuit to get market price?
Let me know.
They changed them into LNCO - Escrow Shares
with another ISIN ( in Germany wkn no.)
and now they are frozen until 'something will happen.'
( in Franfurt they were tradable till 03/02/2017
after 1-2 days they were changed into Escrow Shares)
" Notes: January 27, 2017, the United States Bankruptcy Court for the Southern District of Texas entered the order confirming the Plan of Reorganization of Linn Energy, LLC and Its Debtor Affiliates. The Plan became effective on February 28, 2017. Pursuant to the Plan, on the effective date all previously issued securities in LINEQ and LNCOQ that were listed and outstanding immediately prior to the Effective Date were cancelled and extinguished. Holders of interests in LNCOQ may receive a nontransferable escrow position to the extent necessary to facilitate any distributions that may become available in the future on account of such interests in LNCOQ..... "
Good Day LNCOQ Investors,
I just noticed that the symbol was removed from the list, and was wondering if anyone has been through this type of process (coming out from Bankruptcy) and what happens to the shareholders shares and price point.
Thanks in advance.
Okay...thx...not a surprise already mentally wrote it off for 2017. I guess the "glass full" view is I have write already to off set some gains already made...just got to avoid any more LNCOs for the rest of the year and I'm good. LOL
Yes to both questions.
Okay, saw the "deletion" so really stupid question? Is my LNCOQ just done and will eventually disappear off my brokage account and I get some type of official write-off notice for 2017 tax year?
It seems obvious the negative doomsayers in these post have big shorts in play and want it to go down.
Why would a company keep these investors in play by allowing them to move LINE shares 1 for 1 into
LNCO? Why would the judge provide an extension? How can a special committee be denied to get a
corrected reevaluation on the true assets at today's market value when it is so blatantly obvious it was undervalued by billions? Time will tell. Good luck to everyone.
This article came out a couple of years ago and is why so many folks invested in this stock. The truth is, with the recent news about the huge potential in the Permian Basin the article was accurate! It is obvious the company purposely undervalued the stock to wipe it or should I say, take it, to line their pockets.
The SEC should be all over this, especially since this is the largest bankruptcy of this type in history.
The presiding Judge should absolutely appoint a special committee to verify the current assets at today's market value and protect the common share holders by giving them a stake in the company. If not, this will go down in the history books as one of the largest white collar crimes in history. I encourage all stock holders to write the court and express their opinions and request a special committee to reevaluate the value at current market value. I hope the news networks pick up on this and expose this shady deal for what it is.
Please read this investment article from 2014.
ATTN:$LINEQ Unit holders $LNCOQ Shareholders. Check out Docket# 1408 https://cases.primeclerk.com/linn/Home-DocketInfo. Get involved shareholders write a letter to this judge. He understands that a shareholder committee is needed in this case. $UPLMQ shareholders got over 40% of the company.
ATTN:$LINEQ Unit holders $LNCOQ Shareholders. We need to be at the Bankrupcy Table. If interested drop me your contact info and number of units/share you own at "firstname.lastname@example.org" Look me up at the https://cases.primeclerk.com/linn/Home-DocketInfo and search Docket #1190 send similar letter to court.
I was d/t LINE in a group I-belonged-to.
I took the swap offer.
The one from last year or is there a swap in the POR? I read the POR but don't recall where equity will get anything. I may have missed something.
In response to Chunky Salsa, does anyone know what will happen to shareholders of LNCOQ in the future? My shares came from taking the "SWAP" earlier this year. I read the article that Chunky Salsa posted and am wondering will my shares be liquidated under the restructuring? Is there any reason to keep these shares. They are practically worthless now, but if they ever go back up a over the coming years then they might be worth keeping. Im just wondering if they will be liquidated or if they will start to the "REVERSE SPLITS" on them here soon? Does anyone have any guess or speculation on this? Please respond with your thoughts?
I took the swap offer. I don't know.
See my post #482 As for Saving Alpha
I read their crap because the other traders read it and put faith in what they say. I happen to know their reviews are for-sale to the highest bidder.
What do you think about the article in SA that came out last week?
How long have you been in this stock?
how is this compare to LINEQ? LINEQ share would be wiped out?
I took the opportunity to avg-down.
don't look at the 200day...
thats the 'green' line in the little picture
and don't bother with any other indicators
you might figure something out in the big picture
btw / no placing bets after the race is run
have to wait for the next post time
What do you think for tomorrow?
"still in at the close" yesterday...
of course i'm still trading this
all 3 .... LNCO LINE EXXI > Qs
posted at the close on all 3
"still in at the close"
copied and pasted and posted this in all 3 ..
"traded the day...
2 positions as usual
took profits with one
still in at the close
with the other "
We will go higher !!! Too much preasure !!!
WLTGQ new Q fire
Was playing only LINEQ after some decent BBEPQ gains...but added this at the open. LINEQ , LNCOQ and KEGX now.
Sector is hotter than the MJ plays if you ask me!
Sure! That goes without sayin' I think everyone-here-knows-that.
For me, it's been a "make the best of a bad situation" strategy.
I threw-in another $125 in hopes of getting my $1000 out, which was down 90%.
The last couple days have been fun to watch even if it don't work. It's a lotto.
Good luck to all...