Josey, could you send me a message to my email? This is my email"firstname.lastname@example.org" I need to talk with you about something.
There is zero chance nuvectra reorganizes.
All IP and product was sold. They have nothing now to even have a reason to reorg.
I’m not sure why people bought shares, except to create the illusion of a run to sell out slightly higher.
I still hold about 30k shares.
I lost $65000, so I feel your pain. But don’t worry, at 24 you’ll have time to earn it back. Just make certain a lesson is learned.
My lesson was regardless of my belief in a product (even one that I personally implanted in patients, and did education for their company), is to not overextend myself in a single position.
I unfortunately let NVTR become my largest holding, which suddenly became my worst loss EVER.
I’ll earn it back, slowly. Chipping away at that booked tax loss.
Who were those buyers?? What was their motivation!? They were buying more than 1M shares until two days ago before Nuvectra cancelled while they should have known that's a total loss!
You mean there is no chance they come back and reorganize? Does anyone know about American Airlines $AAL in 2012? Is there any chance really?
Does anyone hold NVTRA shares still? Or I am alone here!
Oh..It's really unbelievable for me! I had lots of shares(160K shares) around 0.12$. OMG! I'm only 24 years old that's really a big loss for me. I wish I have sold around 0.2$! I never ever thought it! I bought NVTRQ because it was really worth 0.1$ per share!
Nuvectra was liquidated and went out of business. Its common stock was cancelled. It's completely over and a total loss to those who still held stock.
Amir, it is cancelled. Simple as that.
In some BKs The ticker should still exist as a shell, and if your shares are still held there is the chance that some day a company may purchase and use the empty shell.
Or they also may simply delist and full cancel (which might be the case actually) of all equity- which is what I believe nuvectra did.
So at this point any money held there is a total loss, with zero chance of recovery.
AmirD12: to your question it is best to read the BK PLAN by Nuvectra Corp. to see if shareholders can buy warrants of the reorganized company's new stock issue, if there will be any new stock (equity) issue.
As it stands right now all previous share equity was cancelled so those shares no longer exist.
It is unfortunate that most shareholders of Chapter 11 companies that reorganize are last in line to receive any dispensation because secured creditors come first, unsecured creditors come second, preferred share holders come third, and common share holders come last, often losing the entirety of their share equity investment.
I am really confused! Does anyone know What's next? Do they transfer the stocks? Is there any chance still?
Shackster13795, that's interesting for me you have always been hopeful about the NVTRQ while there are lots of bad news about the stock such as fraud managers, and there is a chance every time they stop trading! This is good, I like it but It's really interesting where is the source of this hope! What did you see we didn't see! I hope! #Nuvectra_come_back
Spreading that on twitter might help us, but I’m not hearing anything inside- given all my prior sources are no longer employed by the company.
Some of the trading appeared to drive it up on small volume to dump several large lots.
But those lots were purchased too, so who knows...
NVTRQ - Pushing higher again today. Has anyone found any inside information as to why this is happening? Is it a potential buyer trying to buy as much stock as possible? Yesterday’s volume of almost a million shares is proof something is going on in the background. Is it an investment firm with inside information? Feels like there could be a big move upward coming any moment.
I’ll reach out again.
I actually stopped even following the BK filings and just assumed I was writing off $50k.
Former CEO is not going too tell you anything after offering $50,000,000 and being coc$,$$$,$$$,$$$ blocked by BOD but this is the right amount of time for class action...with former CEO...even a out of no where Covid-19 stimulation cure with CAPR-CAP-1002 or GILD remdesiver...all day long they need treatment...reach too Dress again...you should push...covid-19 is hitting all parts of body...formulate an attack with equipment...be a part of NVTRQ...imo...I still have shares because of you...become the Beast that needs too be!
Your reach too Dress...
I just saw it too! Right at the end of trading! Big move and a ton of shares. Somebody knows something. I looked on the BR website but did not see anything. Does anyone know the outcome of the voting? Perhaps the voters voted the down the plan. If that happened could it start a whole new round of bidders???
Dang, what happened today?
Don’t think it’ll make any difference, unless they have a buyer willing to pay more, or assume their contract- neither of which Cirtec is doing.
This whole deal just reeks.
Get a $150 million tech valuation for 2.3 million. Crooks.
How does the voting affect anything? The largest $ amount from the unsecured class is for $29M from Greatbatch claim 111. What happens if they vote no?
But no reason why it won’t go through. Judge bought and paid for clearly, as this deal f—ks over providers, patients, investors, everyone but cirtec and prior NVTR management.
Delayed until May I believe, per last 8k.
Who the F knows.
When will the viral concern fade?
Guess is as good as anyone’s...
Josey, did they give dates? Wasn’t the prior date April 17th? So now what do you think the date is? Thanks!
Final resolution delayed.
Let’s see what lawsuits start to pop up against management’s complete ineptitude to even attempt to secure bank funding or sell any of the 100 million shares they had authorized and available to fund operations.
Far as I know, proceeding forth with final vote April 17.
Most managers sold out of shares long ago.
It's really ridiculous! Do managers lose anything?
I was thinking that it could be possibly a scam to take our money or maybe this is a game and their strategy for buying the stock at the lowest prices!
No chance of reorg.
And perhaps you are confused?
There wasn’t a substantial issue with any of the products (earlier issue of 12-contact lead was resolved) from my direct experience that wasn’t also an occasional issue with EVERY system’s peripherals.
The issue was a failure of management to sell available shares to fund operations, or even attempt to find a new loan to fund ops.
It wasn’t product failure. It was management.
Do you know whether the company is still open or not?
Is there any hope that they reorganize again? I wonder why they don't fix the product's issues and start again!
If anyone has any knowledge of a class action suit being prepared please let us know. Thanks!
Sale number was published.
Item #18 if memory serves.
I forget which particular doc as it doesn’t matter.
I remain hopeful solely for a class action, and that is it, honestly.
I believe that the court approved the sale only because of deadlines and knowing that there is the secured and un-secured creditors have an opportunity for objections to the sale and several lawsuits that will most likely be filed.
I did not see any sale numbers either. Why were those not published???
Also, after reading and rereading the document I was very confused about what was being purchased and what was not being purchased. It seemed like there are references to many other assets that were not covered in that document and were still up for sale. Did anyone else get that impression from reading the document. I thought it was a poorly written document.
Vote to approve by creditors April 13, with final close April 17.
So still some time for objections and class-actions to rise up.
I saw this earlier but I didn’t understand what it covers. This came out before the market closed and I did not see any sell volume.
Unfortunately the court approved the sale.
I still have not seen anything about the Friday meeting. From what I have read I do not think that the pending purchase is a good deal for secured or un-secured creditors. I fully expect it to be rejected. Then wait for the FDA approval and new offers.
Not with me personally, no.
Hahah..."God can move mountains so moving ..." we hope! Never give up!
God can move mountains so moving the decimal point in the stick price should be easy. Are we hoping the plan gets rejected by April and another auction? Looking at the claims register, it seems for the unsecured class the biggest claims are #83 by Minnetronix for $6M and #99 by Fred B Parks for $2M.
Did he ever clarify with you exactly what happened?
Sadly it’s going to end that way.
Drees wants no part of it anymore, so nope.
Josey, thanks for doing that! The DOJ (Marc Salitore) will need someone, Scott or one of the investors, VC members to speak directly to him. Can you get anyone to call him?
I wrote to the DOJ and the legal team for unsecured creditors and mentioned nuvectra bod excluding a potential High-money bidder from the auction without cause.
Let’s keep our fingers crossed.