Nexity Financial Corp. (NXTYQ)

[r1aviator]

I like the 7.8M O/S

Just a lotto for me at this point, but I’ve had good success with a few other Q plays.

GLTY/A

$NXTYQ

[onco]

Why may I ask

[r1aviator]

Took a starter.

$NXTYQ

[Alyssa]

Could it be all those posts from 2011 regarding the liquidation value of $.10+ are actually true and getting close to distribution?

Volume not huge, though, but still....that was a violent buy yesterday!

[sidedraft]

Up 1566.67%, who knows why.

The complete docket list is now available:

https://www.courtlistener.com/docket/4564417/nexity-financial-corporation/?filed_after=&filed_before=&entry_gte=&entry_lte=&order_by=desc

[sidedraft]

With only $1890 traded today, I'd say nothing is up.

[Alyssa]

What's up with Nexity I wonder (if anything!). Up 212% today.

[zvx1232003]

0.0006, The lowest stock on Earth now.

Just found the stock for fun. Anybody here? Is it a good pick at this price? lol

[sidedraft]

A little cash coming our way:



Nexity Financial Corp docket number 339 on PACER filed 2/12/2014

[Abag]

NXTYQ, .002....

[Abag]

NXTYQ, .0015....

[Alyssa]

According to the first recent article, Nexity is still in Chapter 11 but wants to stay in business. The second article says that they're still there on US 280 in Birmingham. Wonder if the Court is on the verge of approving an exit plan? Very tiny float here.

"Nexity, which aims to stay in business, has yet to have an exit plan confirmed by the court."

http://montgomeryrealestateinfo.com/193/beat-up-alabama-banks-colonial-nexity-still-in-bankruptcy-the-birmingham-news/

http://blog.al.com/businessnews/2012/03/birmingham_banking_scene_is_ra.html

[sidedraft]

UP 566.67% today.
Is somebody trying to nudge this puppy up?

[hjkl_2001]

Based n FDIC data looks to be no creditor claims
What about Unpaid Deposit Claims? Does that come out of reamining assets B4 liquidation?


Failed Bank Information
--------------------------------------------------------------------------------
NEXITY BANK - Receivership Balance Sheet Summary (Unaudited)


Fund Code: 10356
Failure Date: 04/15/2011
For Period Ending June 30, 2011
(in $000's)
Assets Current
Balance
Cash / Investments $ 148
Assets in Liquidation 52,631
Estimated Loss on Assets in Liquidation (1) (30,002)
Total Assets $ 22,777

Liabilities Current
Balance
Administrative Liabilities $ (60,882)
FDIC Subrogated Deposit Claim 281,522
Uninsured Deposit Claims 0
Other Claimants 0
Liabilities at Inception - Unproven 1,027
Total Liabilities (2) $ 221,667
Net Worth (Deficit) (198,890)
Total Liabilities and Net Worth $ 22,777

. Proven Deposit Claims Claim
Balance %
FDIC Subrogated Claim $ 607,032 100%
Uninsured Depositors 0 0%
SubTotal - Proven Deposit Claims $ 607,032 100%
Less: Dividends Paid to Date 325,510 54%
Total Unpaid Deposit Claims $ 281,522 46%

Other Claimants Claim
Balance %
General Creditor $ 0 0%
Senior Debt Holders 0 0%
Subordinated Debt Holders 0 0%
SubTotal - Other Claimants $ 0 0%
Less: Dividends Paid to Date 0 0%
Total Unpaid Other Claimants $ 0 0%



(1) Valuation of Assets/Loss Allowances: Assets of the receivership are shown at values representing cash on deposit or the book value of amounts invested; the principal balance of loans, notes, other debt instruments or receivables (note that interest on these assets is not accrued after failure but is recognized when received); the foreclosed value of real and/or personal property or the book value of assets (cost less depreciation or amortization through date of the institution’s failure); and the historical cost of the net investment in subsidiaries, partnerships or joint ventures, adjusted where appropriate to reflect the receivership’s portion of the underlying net earnings or losses. An Estimated Loss on Assets is provided when anticipated future asset disposition proceeds, including associated expenses, are less than recorded amounts. Future asset disposition proceeds are generally estimated by determining, via sampling or recent disposition activity, the recovery rates for similar assets across all receiverships. However, actual recovery rates for this receivership may differ according to the quality and type of individual asset, as well as over time with changing market conditions. Accordingly, the gains or losses ultimately realized for this receivership will likely vary from amounts estimated.
(2) The Total Liabilities line item reflects those actual and accrued liabilities recorded on the accounting records of this receivership as of the date of this report. The Total Liabilities line item may not include other liabilities arising from Estimated Interest on Claims and Income Taxes, as these liabilities may not be recognized as of the report date, in accordance with current receivership accounting practices.

[sidedraft]

I don't think there are any preferreds:

http://www.zacks.com/research/report.php?type=abs&t=NXTYQ

bottom of page

[hjkl_2001]

After liquidation what is left for commons?

I see BV and SO calculation for a .10 cent net but have the bondholders been paid? Preferred stock?

They get 1st dibs. Commons are last to be paid.

What is Nexity's capital stucture?

[exisnet]

Some small action here...

[exisnet]

At the rate this is being bought, may see penny by Friday IMO

[exisnet]

I think so also, looking thru pacer docs, have all weekend to read to determine to increase my position. With this very small float best to get some while cheap...

NXTYQ

[Value_Investor]

Huge potential here based on the $0.1046 a share liquidation value!

[Alyssa]

Hmmm. Interesting and nice couple of days at NXTYQ.

:)

[Value_Investor]

0.004 x 0.009 now.

[exisnet]

Q plays can be very profitable, took starter position.

NXTYQ

[Value_Investor]

It is up 60% now! Easy 26.15-bagger based on the liquidation value!

[Value_Investor]

NXTYQ is up 200% now. Easy 3487% gain from .003 based on $0.1046 LV!

[Value_Investor]

0.003 x 0.009 now.

[Value_Investor]

0.002 x 0.009 now. It seems nobody wants to sell below the ask .009!

[Value_Investor]

Any news from the court related to the cash liquidation plan? $0.105
per share value is the huge reward compared to the current joke low price 0.002 a share! Which is over 52-bagger return for 0.002 buyer!

[Kev2128]

Hope so!

[Value_Investor]

0.0035 x 0.007 now.

[Value_Investor]

0.003 x 0.006 now.

[Value_Investor]

0.003 x 0.005 now. The next ask is 0.009 and very thin below 0.02...

[mrbizzard]

thanks..good news..seems it should run big soon!

[Value_Investor]

The bank was closed. But the holding company NXTYQ is survived! I've
not seen any document against the common shares yet! It is safe now.

[Value_Investor]

The insiders and institutions ownerships together is near 16% of OS! The available float for trading below .01 is only about 200K shares!

[mrbizzard]

will look into it this weekend

[mrbizzard]

do you have link to any filings stating shares will survive..I see the bank has closed

http://www.fdic.gov/news/news/press/2011/pr11072.html

[Value_Investor]

I wish I knew that date! That is also why the price is still low...

[mrbizzard]

when is liquidation to take place..btw Looks very attractive..nexity bank

[Value_Investor]

Due to the big spread between the bid and ask. Anyway 0.003 x 0.005
now...

[mrbizzard]

why no volume today?

[Value_Investor]

$0.1046 a share cash liquidation value and $7.7417 a share book value!

[mrbizzard]

whatcha got here?

[Value_Investor]

0.003 x 0.009 now. The recent high is 0.01 or $77K MV which is tiny!

[Value_Investor]

0.0035 x 0.005 now. Insiders and institutions to gether own near 16%
of OS! The available float for trade is less than 0.5M shares.

[Value_Investor]

The bid is up 50% now: 0.003 x 0.005. Very high insiders ownership!

[Value_Investor]

Why someones dumped the shares today? The current MV is a joke $15K!

[Value_Investor]

0.005 x 0.007 now.

[Value_Investor]

So the book value is $7.7417 per shares which is 1106-bagger against the current price 0.007! NXTYQ is extremely undervalued & oversold!

[Value_Investor]

Be exactly the OS is only 7,766,394 shares which is ridiculous low!