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“I like the unknown unknowns, the unexpected unexpecteds.“
It’s how false hope is born.
I like the unknown unknowns, the unexpected unexpecteds . The mathematician in me has a hard time giving anything absolute 0 or 100 percent.
Probability in this case leans to almost exactly 100% chance CPPRQ will never come back and that those who held, they will have to file individual claims for their losses.
I don’t know how likely it is to collect in that respect. Look at OJ Simpson. I read yesterday he owes 75M in civil and has coughed up a couple hundred thousand over the past 20 or so years.
“...but I’d place the odds of something like that at to winning a powerball, plus a thousand times more difficulty.“
So why is it even worth considering?
...seriously.
At least with a Powerball you know the mechanism by which it could happen. They pick your numbers as unlikely as that is.
There is no mechanism for the return of CPPRQ.
I don’t disagree, it’s not coming back. Probability tells me an unprecedented corporate action could take place for a reversal, but I’d place the odds of something like that at to winning a powerball, plus a thousand times more difficulty.
Could it happen? Maybe.
Will it happen? No.
“While not entirely impossible, there always an avenue, but as no evidence exists to say there was any wrong doing, then there is almost a 100% chance this is final. Sometimes judges are corrupt. Hard to know if anything is going on behind the scenes with CPPRQ or this is it. Lots of emails coming in after the cancellation to primeclerk“
No it’s entirely impossible and there is no Avenue...there has never been a case of a cancelled ticker coming back to life after being cancelled in a bankruptcy. And no CPPRQ isn’t going to be the first.
It’s done.
As for COTRP there is no “big hose” sucking them up. The price and volume have been depressed since the beginning of the year. The MOST each share could see is about 22 cents. But that is based on everything going perfectly. The only guaranteed amount is 1.2 cents. The market is giving it a little premium to that...but the bid/ask spreads are so big that the moment you buy on the ask...you are at the mercy of the bid.
While not entirely impossible, there always an avenue, but as no evidence exists to say there was any wrong doing, then there is almost a 100% chance this is final. Sometimes judges are corrupt. Hard to know if anything is going on behind the scenes with CPPRQ or this is it. Lots of emails coming in after the cancellation to primeclerk.
But as some say, never say never. My fight is with bonds and it could take years, but at least there is something there. Some WaMu bonds got $10 after years of battle while other indentures still got zero. So still a tidbit of hope there.
There is a big hose sucking up COTRP bonds at a nickel because someone’s going to double their money or more. :)
Sorry...not going to happen. Can’t unring this bell. Stock is gone.
A bombshell, something that proves enough fraud and damages can.
What? The company already went into bankruptcy, sold all its assets, exited bankruptcy and canceled the stock.
It’s done. Nothing left to save.
Serious question is there any chance this stock can be saved from bankruptcy?
The bonds can only see up to a max of about $0.225 per share. That’s it. $0.012 of that is guaranteed even if the Earnout pool is zero. The bonds have an upside limit as to what they get from the Earnout pool.
Bonds are having a good day. How do we get them back to $25 and paying divvys?
Congressman?
Can you give us an example of a BK case where things "change via blackmail and extortion" after share cancellation? This retired lawyer would like to hear that.
"I know the fraudulent illegal IMO 'confirmation plan' says they are
capped, but things can change via blackmail and extortion."
Turd beats Zero in this weeks news
Thats because it was never canceled. It was swapped. Ask Walrat(h).
Yeah well, the turd is still alive while JCPNQ got shitberged. CBTRP a no-brainer at 5 cents. CBJCL could win the jr bond derby. Shitbergs inside fraud buds could be loaded with all here, waiting for the 'real value' to be revealed as per JCPs real estate assets.
I know the fraudulent illegal IMO 'confirmation plan' says they are capped, but things can change via blackmail and extortion.
Better than your zero.
It doesn’t register 1 share or even 25 shares for the reason likely that people use it to paint. 100 shares always registers
Market pays what market pays !
I looked at the trades and it shows 1 share at 2.30, plus the 52 week high is still at 1.50. This is more likely an accounting issue. Very misleading to say this is at 2.30, when it is really trading between .01 - .10 for a while now.
Cash windfall made it to Cotrp so there is value in this stock whether it gets cancelled or not, and it will continue with an pay earn out for the next 2 years
We’re in the process of trying to bump it up from 15M to it’s max value as this is going to be a profit sharing recovery
Look at the trades the first is $2.3 then someone sold for .05
Where are you seeing $2.3? I am seeing $.05???
Bid/ask spread is enormous. You'll suffer a huge loss the moment you try to unload, <<if>> you can find a buyer at any price.
But you know that.
Finally, the slow painful death is over!
Will be nice to help offset capital gains
with money spent years ago.
CBJCL up 180%
COTRP at $2.3
One of my babies ;)
There's a subset of gamblers who know exactly what's happening and prey on newbies, dumping their "Q" shares on the hopium story.
BIOAQ's a classic example. Delisted in Nov 2019, there are still brainwashed noobs thinking some payout is coming.....sigh.
Twitter promo-pumpers convinced them, while quietly selling them their shares.
No it didn't. I owned WAMU when it was cancelled. It wasn't even trading at $5.00 when the crash happened. I think the payout was about 3 cents on the dollar if that. It was so low I didn't even bother filing a claim. Also, these aren't even remotely close scenarios. WAMU was basically seized by the US Government. JCP voluntarily filed for bankruptcy and auctioned of it's assets.
At least COTRP is up 100%!
WaMu got $10 a share after being cancelled.
Just took a lot of court and time
The money went to the person who sold it to you.
I use to think that people pumping these stocks were simply scammers trying to lure in newbies. Now I realize that they themselves are the newbies or just plain ignorant of securities laws. The fact that people are shocked by what just happened is stunning. The company has literally telling everyone that their shares were worthless for nearly a year, yet somehow people are still caught off guard.
This post is both sad and scary. OP, please stop buying stocks and take a basic course in investing. You literally do not know how it works or what is going on. Not trying to be harsh, just hoping to save you money in the future.
It has been lost like any other loss when the price of stock goes down. In this case the pps is effectively zero. The stock no longer exists. That balance of any stock in people’s account went to zero. Poof. Gone.
It goes somewhere
There isn't any.
Where does the cancelled stock money go?
Well, they did, and they even broadcast the wipe out pending.
COTRP to the moon like gamestonk! Where is Elon?
See? I said there will be those amongst the masses that come stumbling in, dazed, confuthed, blinking, wondering where their shares went. They went to Share Heaven . . .
yes, and that has been explained as the final outcome for quite some time. the fact that you are surprised is puzzling.
It was a bankruptcy...specifically a Section 363 Asset sale. The cancellation of the stock should not be a surprised to anyone. THATS WHAT HAPPENS...as has been discussed over and over. The events leading up to it and the process involved has been explained MANY MANY times here. The company’s 8K on Dec 16 said the stock was going to be cancelled, the Court filings disclosed that all securities would be cancelled many times. Even the AHEC finally acknowledged what was going to happen.
People had plenty of opportunity to get out...it’s one of the oddities of OTC bankruptcy tickers they will trade right up to the point the stock is cancelled. That also was explained many many times.
Unfortunately it is now too late.
When people are told repeatedly that if they held they would lose their remaining capital in its entirety when the stock was cancelled...nobody was joking.
It's puzzling, odd, strange, that people would put money into a soon to be canceled stock. I wouldn't call it "fishy".
"...Anyone find it fishy this was up 40% a couple of days ago?..."
It's called bankruptcy. That's what happens. It was clearly explained regularly.
"...Why and How could they just wipe this stock? This does not make sense? Anyone find it fishy this was up 40% a couple of days ago? This can not be true makes zero sense..."
take the write off of your loss $$
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JCPenney Company, Inc is an American department store chain with 865 locations in 49 U.S. states and Puerto Rico. In addition to selling conventional merchandise, JCPenney stores often house several leased departments such as Sephora, Seattle's Best Coffee, salons, auto centers, optical centers, portrait studios, and jewelry repair.
Most JCPenney stores are located in suburban shopping malls. Before 1966, most of its stores were located in downtown areas. As shopping malls became more popular during the later half of the 20th century, JCPenney followed the trend by relocating and developing stores to anchor the malls. In more recent years, the chain has continued to follow consumer traffic, echoing the retailing trend of opening some freestanding stores, including some next door to competitors. Certain stores are located in power centers. The company has been an Internet retailer since 1998. It has streamlined its catalog and distribution while undergoing renovation improvements at store level.
J. C. Penney introduced its own private brands when some suppliers denied access to the expected inventories.
On October 2, 2018, JCPenney announced former Jo-Ann Stores CEO Jill Soltau as their CEO, effective October 15, 2018. With the announcement, JCPenney's shares rose 9%.[69] The company ranked 235 on the Fortune 500 list of the largest United States corporations by revenue.
On December 26, 2018, the stock price of JCPenney (NYSE: JCP) fell below $1 per share. This was the first time shares fell below $1 ever in the 110-year history of the company, which started trading on the New York Stock Exchange in 1929. The stock fell 68% over the course of 2018, including a 30% drop in December 2018 alone.
On February 6, 2019, JCPenney said it would stop selling major appliances on February 28 "to better meet customer expectations, improve financial performance and drive profitable growth." It will continue to sell furniture online and in Puerto Rico stores—but not anywhere else. "Optimizing the allocation of store space will enable us to prioritize and focus on the company's legacy strengths in apparel and soft home furnishings, which represent higher margin opportunities," the company said in a statement.
On February 28, 2019, JCPenney announced its intent to close 27 stores in 2019, including 18 full-line department stores and nine home-and-furniture stores. The closure announcement was paired with news that the retailer had suffered a 4% decline in same-store sales during the 2018 holiday quarter.
On March 26, 2019, JCPenney announced the hiring of Bill Wofford as Chief Financial Officer. Wofford came to the company from Vitamin Shoppe, where he had served as CFO since June 2018.
On May 21, 2019, JCPenney announced that Shawn Gensch will be their Chief customer officer to take effect on June 3, 2019. Gensch comes from Sprouts Farmers Market where he was their CCO. Also on May 21, JCPenney announced a net sales decline of 5.6% and a net loss of $154 million for its fiscal first quarter of 2019, which ended on May 5.
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