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Couldn't agree with you more!!
stab12: You don't have to worry about me going away. This is my last post here and I am gone for good. I completed my DD late yesterday, and will not be acquiring any shares here as the shares appear to be worthless.
And, don't blame me for coming here and asking the serious questions earlier in the week. Blame Wyokid, the Moderator of this Board. He sought me out and sent me a Private Message touting this stock, claiming I needed to get in it right away because as he put it in the PM "this stock goes up on air." Of course, that was in the middle of all of the sudden pumping and hyping of this stock earlier this week. i.e. he brought me here in the same manner he was out pitching it to others.
As soon as I pulled up the stock and started to examine it I realized it was in bankruptcy and was selling off all of its assets. So, I openly questioned how there could still be any value in the shares, and inquired as to whether anyone here had any information on the bankruptcy filings in terms of the stated assets and liabilities.
Yesterday Wyokid posted the law firm and attorneys in the BK proceeding, and also sent out John Lynch's e-mail asking me to contact him for answers to my questions. I e-mailed Mr. Lynch and eventually called and asked for him at the number and extension listed for him in the last PR. That is when I was told that the deal through which Trubiquity acquired all of the assets had closed Wed. night at 5:00 p.m.
Later in the day, however, I learned that my earlier e-mail to Mr. Lynch requesting copies of some of the critical public filings in NXPSQ's bankruptcy had apprarently been forwarded by the company to the same law firm Wyokid had mentioned in one of his earlier posts. I received scans of some of the critical filings in the public record, including the Schedule of assets and liabilities, and the Claims Bar Date Order containing the deadline for filng of claims against the bankruptcy estate. The filings confirmed my suspicions, specifically that the liabilities to creditors far exceed even the most generous estimates of the value of the assets sold, i.e. it appears that the creditors will receive far less than .50 on the dollar. It does not appear to me that there will be anything left over for shareholders.
This information from the public docket of the U. S. Bankruptcy Court for the Southern District of California in San Diego, was all public record information for weeks prior to all of the baseless pumping and hyping of NXPSQ here and elsewhere on IHUB earlier this week. IMO, the shares have been essentially worthless for weeks.
I am thankful I did not take the bait, and I feel sorry for anyone who gets left holding the bag here as a result of the baseless pumping and hyping. IMO, what happened here earlier this week has all of the earmarks of a classic pump and dump operation.
GLTA.
Please forward it to me: shankapotamus77@gmail.com
I got an e-mail from Lynch But I won't post it.
Lets just say it looks bad. Good luck to all.
Solid day today with no sells. That's pretty good sentiment IMO. Hopefully next week we'll hear some news.
prudent capitalist just go away if you dont like the stock ,no matter what stock i buy and what board i watch theres one of you , if you dont like the stock move on . why waist your time
Sounds like Trubiquity may well up with the assets per the deal announced on January 28, 2011.
I never got a response to my inquiry on the level of assets and liabilities in the BK filing, and was still curious so today I tried to call John Lynch, the stated contact in the latest PR on the bidding and auction process, at the number and extension he listed in the PR (760) 804-1333, to see if I could get any public information on the level of assets and liabilities in the chapter 11 filing.
I was told he was out until "the 7th" but she then asked if someone else could help me. I stated that I was following the proceedings and watching the spikes in the stock price and following discussion in investor circles, and was wanting to know if anyone there could provide public information on the bankrupty proceeding, specifically the figures on the stated assets and liabilities in the Chapter 11 filing.
At first she said "what stock price?" I said NexPrise's stock. She then at first claimed it was not a publicly traded company, and said I must be referring to the other Nexprise in Texas. But when I read her the stock symbol quoted in the PR that listed John Lynch and the number I had just called she acknowledged I was right.
She then stated: "the whole deal was closed and finalized last night at 5:00." I asked her what deal, the bankruptcy? She stated "no, the buyout." I then asked her what buyout? She said "to Trubiquity." I then asked her if a PR or other announcement had issued and emphasized that there was supposed to be a bidding and auction process? She said No - Trubiquity got it, or something to that effect. I then hung up.
I am staying away from this company, given the lack of definitive information.
I don't think your going to need patience here for very long. HINT HINT because there won't any stock left to trade.
What motivation is there for anyone to buy NXPSQ right now, with all of the serious questions hanging over the stock? There are too many other momentum plays out there without the seroius risk that exists here.
I too have tried to contact Mr. Lynch, and am getting no response. If they list him as the investor contact on the website, he should be a bit more responsive to legitimate inquiries. The lack of response may be very telling.
No sells should tell you something. hint hint... Some folks don't understand patience. lol... Go watch tv or something and stop staring at the monitor.
Wyokid, I just e-mailed Mr Lynch myself and will post back IF he responds. I did write him yesterday but no response yet.
Hey buddy. This was an email I got from Mr. Lynch. Feel free to emil him...jlynch@nexprise.com...but at least he is responding! :)
Have you contacted them and asked for a copy of the Chapter 11 filing, including the listing of assets/liabilities, and listing of creditors?
Or, if you have obtained this informatoin from the court's docket, did you also obtain the info. on assets/liabilities?
Nexprise is represented by Attorney's Kurt Ramlo and Eric Wang of DLA Piper. The next court aooearance is April 7 at 2:30pm in front of judge Adler with an expected close date of April 8th or 11th.
Prudent Capitalist, Good morning and I agree its very quiet..HELLOOOO ANYBODY OUT THERE?? LOL... Anyway yes the $64,000 dollar question will be answered however I just hope they post some NEWS about who is bidding and how many companies were involved? Maybe some news like that will stir some interest leading up to the auction itself. Just my thoughts on this as its all a guessing game at the moment. Have a great day and I look forward to any news you can find... hopefully positive :)
Morning guys. Late night. Only way to feel the water @ .03, .05 is to hit it. I have faith in this play. Leading up to announcement day something will start stirring up.
It is eerily quiet on the NXPSQ front. Hard to tell what that means. What we do know is that in the past few months the only volume and/or share price activity came earlier this week on the 2 days when there was all of the posting activity and hype on IHUB, and even then the total $$$ volume was insignificant.
That can be a good thing in that the stock moves up strong on very little volume. But, for anyone considering an investment down here in the .0275 - .03 range, that presents difficult issues in terms of there being a sufficient market to be able to exit. Not to mention that if an investor wanted to invest a mere $1,500 (50,000 shares at .03) that would represent about the average daily volume of late, and he would likely get only a very small partial fill at .03.
Everything hinges on the $64,000 question: Are there sufficient assets involved in the bidding/auction process to yield enough funds to pay off all creditors, and satisfy the costs of the bankruptcy proceeding, including attorneys fees and advisors fees, etc., such that there will be anythign left for the shareholders who are clearly last in line?
sounds about right!
Prudent, with all of us digging, we should be able to come up with some decent educated guesses in the next few days. And if volume comes in, then we know someone knows something.
I completely agree with you. For me...I am willing to take the risk for a chance at a BIG reward!
Point taken. And, it is certainly possible that it could exceed the liabilities. Perhaps the Chapter 11 was due solely to buy time due to a cash flow shortage. But if that was the case then they would use the chapter 11 to reorganize and work out of it, and would not be selling off all of the assets. We simply need to know the answers to these questions.
I agree. But since it is a Bidding Auction, going to the highest Bidder, it does work to our advantage to go for a more favorable price. The fact that it's an auction poses a totally different set of circumstances that could benefit the shareholder.
Understood. But you also have to factor in the fact that, if one plots it out, there was a direct relationship between the huge upswing in positive posts on IHUB starting mid-day on Monday, and the upswing in the stock, both of which reached their peak yesterday morning, with not one mention of the bankruptcy and other relevant issues.
Prior to Monday there had been just a dozen or so posts on this board in months, and the stock had languished down in the sub-.02 range for weeks/months as is the case with most publicly traded companies that are in bankruptcy. Unless the assets significantly exceed the liabilities, then there won't be anything left for shareholders once the creditors, attorneys and other advisors in the federal bankruptcy proceeding are paid.
I hear you....no big selling. Just waiting now!
I will be adding to my position on Friday. I just have a gutt feeling about this one.
I hear what you are saying, but THIS stock does NOT take significant volume to move up. 150K Volume moves it 300% in one day, and yesterday it was up 150% on 50K till some bidwhacking. I understand your concern, I do. But this stock moves both UP and DOWN with little volume. The chance for the great upswing outweighs the alternative "To Me" and that's why I am in this till I find out how it ends. Good luck to whatever you decide. But B/A has tightened, NO Selling today, and I will take that any day over massive bidwhacking.
Wyokid: I received your PM, but am not able to respond via PM. What I am saying is that I cannot conclude that there is any value to these shares based on the information currently available. It is surprising that you have not been able to learn what the stated level of assets and liabilities are from the bankruptcy filing. Until we know that, I cannot fire at this. Although, given the trading range and the huge spread ysterday afternoon, I did have an order in for a while to buy 50,000 sh at .028, with the idea that there may be a short term trading opportunity.
The problem with stocks like this, aside from the fact that it is in bankruptcy and subject to the sole juridiction of the federal bankruptcy court, is that once you are in a stock like this it is very hard to get out. This is because they take significant volume to go up, and you have to buy a lot of shares to get significant gains at this level, and then it is so hard to get out with your skin, as there are significant spreads, and they plunge on even the slightest sell side volume.
If I am convinced that the assets significantly exceed the liabilities, then I may be able to conclude that the stock will survive. But that appears unlikely at this point.
So it seems it's not quite black/white, and there is some wiggle room.
A complete report on NexPrise's bankruptcy filing and file is apparently available from trollerBK.com, but it costs either $29.95 or $39.95, depending on the level of detail.
It appears that it was filed as a Chapter 11 Reorg., which can result in the company emerging from BK, but only after all creditors are satisfied, and typically the common stock is extinguished even in a Chapter 11.
But, the current bidding/auction process approved by the U. S. Bankruptcy Court for the Southern District of California is stated to be for "sustantially all of the assets" of the company, so it does not appear that there is any thought of Nexprise continuing as a going concern. Rather, it appears that they are selling all of the assets to pay off creditors.
What is strange is that the company lists contact numbers and names, i.e. Mr. Lynch, and they should be willing to at least tell anyone who calls what the figures on stated assets and liabilities were in the bankruptcy filing, which is a public document at this point. Apparently, however, they are not returning calls.
Another thing I find strange is the lack of any SEC filings or PRs about any of these issues since early in the last decade. The latest filings are way back in the 2002-2004 time frame.
"We have seen how fast this moves with very little volume, hence, the very low OS. With ANY positive news we know by yesterday how fast this can go. We will see what the future holds. "
Exactly. I for one appreciate your working on the answers..and hopefully soon we lift off.
And yeah, it moved on NOTHING.
I agree. Today has been about facts, and finding the answers. Fact is... Deadline for bidders ends TODAY. Announcement of bidders is April 4, and announcement of winning bidder is April 7. We have seen how fast this moves with very little volume, hence, the very low OS. With ANY positive news we know by yesterday how fast this can go. We will see what the future holds.
I agree Wyokid don't quit. Prudent Capitalist was and is just asking real questions because if you look at other boards you'll hear the samethings about get in now and ALL the issues he brought up. Its nice to have someone who asks the questions A LOT OF US think of. And in PINK LAND the BS runs rampet so time will tell and hopefully this will be a GOLDMINE and I will be one of the first to say THANK YOU!!
Would love to have you here Prudent. The more the merrier.
I'm trying my butt off to find answers for all of you.
Don't quit Wyokid. This is your Board. I will drop off.
friends...we all just need to take a deep breath.
We might have found a gold mine here, we might not have. Of course we ALL know with a "Q" at the end that we're dealing with BK - and we all know that makes it risky.
WyoKid, I to sent off an e-mail with the address you provided and will gladly post the response IF Mr Lynch does indeed respond :)
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NexPrise, Inc. 5963 La Place Court Suite 302 Carlsbad, CA 92008
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