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45K-0.0015 x 20K-0.0019 now. The next bid/ask is 400K-0.0014/50K-0.0021!
45K-0.0015 x 60K-0.002 now.
If this hidden gem Q can repeat the 126.67-bagger huge rally history again then the new 52-week high will be $0.152 based on the current bottom or 52-week low $0.0012!
From the Level2 there are huge bids supports at 0.0012 ~ 0.0014! There are so little shares available for trading even after news...
210K-0.0015 x 60K-0.002 now. Huge insiders ownership (63.8%)!
MCAMQ was up 133.33% today! This stock had 126.67-bagger huge rally (from 0.0003 to 0.038) history from the chart below! We might see the multiple pennies again very soon based on the tiny float available to trade plus today's CH11 court news...
The ending "Q" will be dropped since the CH11 case is likely to be dismissed by the court very soon!
Only 11M shares fixed tiny float and 31M shares fixed small OS!
The new unbreakable support or the bottom price is 0.0012!
75% up after today's CH11 court news! I bet the ending "Q" will be removed very soon... Huge rally (from 0.0003 to 0.038) last year!
Well, it looks the other way: up 75% so far! Perhaps the CH11 case will be dismissed by the court very soon which will be a great news!
Very bad news...it's done.
Do you know why this newly bankrupt Q is such illiquid after very bad news? It should hit 0.0001 or 0.0002 since it already crashed to 0.0003 before the Q!
Great? I meant no any Q ever stated their OS numbers in the bankruptcy statements!
yeah thats great but this looks about as illiquid as it gets...
0.0012 x 0.0016 now. The ask has dropped 20% so far! Did you ever see a Q case like that? I've never seen such thing for all the Qs I had ever involved!
0.0012 x 0.0017 now. The ask has dropped 15% so far!
0.0012 x 0.0018 now. The ask has dropped 10% so far!
0.0012 x 0.0019 now. The ask has dropped 5% from 0.002!
0.0012 x 0.002 now. Why nobody wants to buy the cheaper shares at 0.002 while someone just bought 100K shares at 0.0025 (which is 25% higher than the current ask) last month? Hopefully it won't drop to the all time low 0.0003 again!
Could NOT find current info.
No idea what is behind the scene! Do you know why ridiculous low volumes after the CH11? What is the current float count? TIA!
Are the Italians involved here--LOL
Theft,bribery. Cash--to a non affiliate.
HMMM.
a few highlights from YOUR GREAT DD.
The Mille Lacs Band, which had retained MCA to provide cash access services at its casinos, claimed that MCA has been transferring assets
******** from its accounts to a nondebtor affiliate,
****** and that MCA sought court protection solely to thwart the appointment of a receiver that would stop the alleged depletion.
The Ho-Chunk Nation, which also won a nearly $5 million judgment against MCA in a contract dispute, joined in the Mille Lacs Band's call for a trustee, arguing that the debtor's dealings with the nation followed a
******“pattern of deceitful conduct.”*****
The tribe alleged that MCA only got its contract with it after ****“illegally bribing” ****
a member of the Ho-Chunk Nation's Legislature, according to its motion.
Here is a latest interesting article on MCAMQ:
Money Centers Decries Ch. 11 Trustee Bid, Wants Auction
Matt Chiappardi
Law360, Wilmington (April 16, 2014, 9:00 PM ET) -- Money Centers of America Inc. and its senior secured lender pushed back against attempts to have a Chapter 11 trustee appointed in its Delaware bankruptcy case, arguing Thursday that do so would scuttle the proposal to sell the debtor's assets in a bankruptcy auction.
Casino check-cashing firm MCA denied the allegations of dishonest conduct and gross mismanagement that prompted the trustee requests, calling the allegations “spurious and inflammatory” and saying handing the case to an outside overseer would disrupt steps already taken to prepare for a sale under Section 363 of the Bankruptcy Code, according to court filings.
“The appointment of a trustee is decidedly not in the best interests of the debtor and its estate and creditors,” MCA said in its motion. “The appointment of a trustee, and the attendant costs and business risks associated with such appointment, will erase the progress the debtor has made towards a sale of its assets and will foreclose any chance the debtor has of providing a meaningful recovery to creditors.”
MCA's senior secured lender, Mercantile Refinance LP, joined in the opposition to the appointment Thursday, arguing that a proposal the debtor floated April 2 for a sale process was the “best choice” and should be allowed to go forward.
The pressure to have a trustee appointed in the case first came from the corporate commission of the Mille Lacs Band of Ojibwe Indians, which won a $5.6 million judgment against MCA in a breach of contract lawsuit in Minnesota federal court.
The Mille Lacs Band, which had retained MCA to provide cash access services at its casinos, claimed that MCA has been transferring assets from its accounts to a nondebtor affiliate, and that MCA sought court protection solely to thwart the appointment of a receiver that would stop the alleged depletion.
MCA argued in its motion that the Mille Lacs Band has not sufficiently shown that the bankruptcy court should take the extraordinary measure of appointing a trustee, and contends that much of the band's argument comes from “cherry-picking line items in the debtor's books to cast Christopher Wolfington [MCA's majority owner] in a bad light.”
The Ho-Chunk Nation, which also won a nearly $5 million judgment against MCA in a contract dispute, joined in the Mille Lacs Band's call for a trustee, arguing that the debtor's dealings with the nation followed a “pattern of deceitful conduct.”
The tribe alleged that MCA only got its contract with it after “illegally bribing” a member of the Ho-Chunk Nation's Legislature, according to its motion.
The U.S. trustee's office too has entered the fray, filing a motion for the appointment of an overseer and arguing that to leave MCA's current management in place would harm creditors and stakeholders.
At a telephone hearing in Wilmington on Thursday, U.S. Bankruptcy Judge Christopher S. Sontchi said he would consider the motions for trustee appointment Monday, calling them “serious allegations,” and scheduled an evidentiary hearing that could last into Tuesday.
Pennsylvania-based MCA sought Chapter 11 protection March 21, listing between $10 million and $50 million in debt, shortly after the Mille Lacs Band tried to collect on its judgment and had petitioned the federal court in Minnesota to appoint a receiver for MCA.
The debtor provides cash access services as well certain guest loyalty services for land-based and online casinos in more than a half-dozen states, and ran into conflict with the Mille Lacs Band in 2012.
MCA would deduct its fees from a monetary amount advanced from the casinos and then wire the balance back, but the Mille Lacs Band alleged the company refused to pay back more than $5 million, according to court records.
U.S. District Judge Richard H. Kyle granted summary judgment against MCA on breach of contract claims in September, dismissing several other claims against the company, and signed the monetary judgment in December.
MCA is represented by Christopher P. Simon and Kevin S. Mann of Cross & Simon LLC.
Mercantile Refinance is represented by Alan M. Root and John E. Lucian of Blank Rome LLP.
The Mille Lacs Band is represented by Howard A. Cohen and Andrew J. Flame of Drinker Biddle & Reath LLP; and Michael M. Krauss, Jane E. Maschka, Julie R. Landy and Peter J. Farrell of Faegre Baker Daniels LLP.
The Ho-Chunk Nation is represented by Richard M. Beck and Margaret M. Manning of Klehr Harrison Harvey Branzburg LLP; and Christianna L. Finnern and Michael A. Rosow of Winthrop & Weinstine PA.
The U.S. trustee's office is represented by David L. Buchbinder and Timothy J. Fox Jr.
The case is In re: Money Centers of America Inc., case number 1:14-bk-10603, in the U.S. Bankruptcy Court for the District of Delaware.
Only info found was from 2008.
Sent request for info--two different locations.
one was rejcted-waiting for status on the second.
Defunct? If so, why BC. Food for thought.
Waiting for reply.
I have NOT done DD recently--have been very busy with other positions.
IF YOU find any info-PLEASE POST. I will do the same.
Not a large investor here--Just a few K.
believe we BOTH have a few OTHER positions together.
It is very normal to see the management force the company to file the CH11 or CH7 in order to steal the valuable business assets which is a loophole in the U.S. bankruptcy law! But it still could not explain why the CH11 filing is significant good for the price? Do you know why the "Caveat Emptor" label here? How much assets left with MCAMQ now?
Good question. This one was on the back burner-there should not be much inventory or overhead. ATM's need cash on hand and equipment parts.
Cash to replentish machines and parts for repair.
BC was a suprise. Somone must have been SCIMMING money.
There was a change the (transaction) compensation rules, over a YEAR ago. the CC companies TAKE more from the transactions--do not know the %,but it is MINIMAL.
IMO--there was THEFT somewhere.
No other reason that i could think of.
Why the bankrupt MCAMQ could hold the support at 0.0012 vs the non-bankrupt MCAM ever crashed to the all time low 0.0003 with the same SS? Why the CH11 filing had made this stock much much more strong now? Is the CH11 good for the stock? Normally speaking, MCAMQ should hit the new low 0.0002 or even 0.0001 since MCAM already hit 0.0003 before the CH11!
Why a bankrupt "CE" stock could hold the bottom at 0.0012 with near 32M shares OS? The similar Q crashed to 0.0007 with just 22M shares OS plus "active" status without the "CE" sign and the maximal volume was over 5M shares right after the CH11...
nope- sure don't VI
Thanks! Do you know why the stock was downgraded to the "Caveat Emptor" tier?
LOL, this Q stock is trading like 1.5M shares OS v.s. in the fact 31,751,832 shares OS!
Any idea why the trading volumes have been such ridiculous low with over 31M shares OS? At least we should see 1M+ shares volume day after the CH11!
The new 52-week low 0.0012 was just created! More new lows very soon...
Non-reporting was never the reason for the "Caveat Emptor" status or "Skull-Bone" sign! I'm wondering if anyone here knows why MCAM was downgraded to the "CE" tier from the previous non-reporting "STOP" sign tier?
http://www.otcmarkets.com/stock/MCAMQ/quote
The company website (see the link below) is still working now!
http://www.moneycenters.com/
The OS is 31,751,832 shares from the latest financial report:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6261340
The Form 15-12G was filed on 11/24/2008:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6267475
The Form 8-K was filed on 11/21/2008:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6265741
Contact Info
700 South Henderson Road Suite 325
King of Prussia, PA 19406
Phone: 610-354-8888
Email: info@moneycenters.com
Show us the document or link if any! As a common sense the bankruptcy document never mention the SS! I thought every investor should know that...
No spam, the O/S was stated in the bankruptcy filing...
100% misinformation! Which stock you're talking about? Spam?
I see. Anyway the OS is 31,751,832 shares. The current trading volume is ridiculous low since the company had filed the bankruptcy! GLTY too!
Not in it anymore GL
The float is "Not Available" from that site (see the link below)!
http://www.otcmarkets.com/stock/MCAMQ/company-info
www.pinksheets.com
Where did you get the floating shares number (6M)? TIA! 310K-0.0015 x 291K-0.0024 now.
How did you know it has been a private company since 2008? If it is "true" why the stock is still trading now? TIA! Why the ridiculous low volumes after the fatal bankruptcy news and Q-ending?
Yes. The company filed the CH11 bankruptcy today! But today's trading volume is ridiculous low anyway!
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Reporting Status | Dark Deregistered a/o Nov 24, 2008 |
Audited Financials | Audited |
Latest Report | Not Available |
Regulatory Agency | Not Available |
CIK | 0001165271 |
Fiscal Year End | 12/31 |
OTC Market Tier | OTC Pink No Information |
SIC - Industry Classification | 6099 - Functions related to deposit banking |
Incorporated In: | DE, USA |
Year of Inc. | Not Available |
Employees | Not Available |
Jeremy Stein | President, CEO |
Adam C. Wasserman | CFO |
Not Available |
Market Value1 | $111,131 | a/o Jun 07, 2012 |
Shares Outstanding | 31,751,832 | a/o Aug 19, 2008 |
Float | Not Available | |
Authorized Shares | Not Available | |
Par Value | 0.001 |
Shareholders of Record | 60 | a/o Apr 15, 2008 |
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Short Interest | 0 (-100%) May 15, 2012 |
Significant Failures to Deliver | No |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |