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agree, where do we find that list again?
but how can they halt mid dayy thanks really sad ? 500$- :(
$PGNPQ: FWIW, Apologies.... Thought it could really trade today.
Didn't expect that the halt would happen so swiftly.
That was fast & furious
Been watching many Q's and did very well on Q's like
$SUNEQ, $CRMBQ, $DAKPQ, $AROPQ, $LEHMQ and others which for all
are no better than where $PGNPQ was today yet they still go on.
After watching $VNRSQ last few days it appeared that there was some
give in it and it could follow in the same foot-steps
Don't Taunt or Make fun of anyone.. It will bite you in the Long Run.
Flipping Lottos is OK.... but dust yourself off and move on to the next
opportunity. Trading has risks but I hope those that got dinged here
like I did will make it up elsewhere.
GOOD LUCK ... but don't give up.
$PGNPQ
I've said it before and will again. Some of the most untrusting posters are those that are in the top 15 on Ihub.
Typically yes if they have plans to continue to move forward as a business. As for previous shares, cancelled and everyone just lost everything.
So, someone please explain to a newbie.. What happens with the company now that they've emerged from bankruptcy. Will they issue new shares?
All they had to do is read the last 3 PR's which clearly stated shares were gonna be gone. Some bk stocks its hard to find that kind of info so its fair game but this one alot of people knew and still pumped not cool.
shares worthless, per news out just now
Anyone who recommended this stock should be reported to the SEC
for what its worth News Paragon Offshore Completes Restructuring Plan and Emerges From Chapter 11 GlobeNewswire "Press Releases"
Eliminates approximately $2.3 billion of debt
Emerges with approximately $165 MM of available cash and $85 million in debt
Appoints new board of directors
Launches CEO search
HOUSTON , July 18, 2017 (GLOBE NEWSWIRE) -- Paragon Offshore Ltd. (New Paragon and the company), the Cayman Islands successor company to Paragon Offshore plc (in administration) (OTC:PGNPQ) ( Paragon plc ), announced today that the Paragon Offshore group has successfully completed its corporate and financial reorganization. The plan of reorganization (the Plan) under chapter 11 of the United States Bankruptcy Code substantially de-levers the companys ongoing business, eliminating approximately $2.3 billion of secured and unsecured debt. New Paragon emerges with eight rigs currently operating plus a ninth rig expected to commence operations in August 2017 , approximately $165 million of available cash on its balance sheet, and $85 million of new debt.
Mr. Dean E. Taylor , Interim President and Chief Executive Officer of New Paragon, said, It is with deep satisfaction that we close this chapter of New Paragons story. With a clean balance sheet and good liquidity, we emerge from bankruptcy as a stronger companymore focused on our core operating areas in the North Sea , Middle East , and India and better positioned to compete in the recovering, but still very challenging, offshore drilling industry. We thank our creditors for working with us to make this new beginning possible, as well as our outgoing board of directors, our employees, our customers, our suppliers, and our advisors. We now look forward to returning our focus to what we do best-providing Safe, Reliable, and Efficient services to our customers.
New Paragon also named a new board of directors with immediate effect. The board members, who were selected by Paragon plcs secured and unsecured creditors following a successful search by Korn Ferry, are:
Mr. James Swent , a director of Energy XXI Gulf Coast, Inc., and retired Executive Vice President and Chief Financial Officer of ENSCO plc, will serve as Chairman;
Mr. Mark G. Barberio , a director of Life Storage, Inc., Exide Technologies, and Principal and Founder of Markapital, LLC ;
Mr. Michael Clark , a director of Halcn Resources Corporation and a former Partner and Portfolio Manager at SIR Capital Management LLC ;
Mr. Paul P. Huffard , IV, a director of Vubiq Networks and a former Senior Managing Director in Blackstones Restructuring and Reorganization Advisory Group ;
Mr. George Sandison , a director of Aspire Holdings LLC and retired Senior Vice President of Global E&P Services for Hess Corporation; and
Mr. Zaki Selim , a director of Parker Drilling and GlassPoint Solar Inc. and retired President of Schlumberger Oilfield Services Middle East / Asia .
Korn Ferry is also in the process of conducting a search for a Chief Executive Officer. In the interim, Mr. Taylor will continue in this role.
We are excited to join the board of a stronger, more secure Paragon, said Mr. Swent on behalf of the incoming board of directors. Our goal is to assist the company in capitalizing on opportunities to unlock value for Paragons new shareholders while delivering exemplary services to its customers.
Additional Information
Upon emergence, New Paragons new equity will not be listed on an exchange, nor will New Paragon file any further reports with the U.S. Securities and Exchange Commission . In connection with the effectiveness of the Plan, the Plan shall deem Paragon plcs existing shares worthless, and Paragon plc will be deregistered from the SEC.
Neville Barry Kahn and David Philip Soden were appointed Joint Administrators of Paragon plc on May 23, 2017 . The affairs, business and property of Paragon plc are managed by the Joint Administrators. The Joint Administrators act as agents of Paragon plc and contract without personal liability. In performing their work in relation to this appointment, the Joint Administrators are bound by the U.K. Insolvency Code of Ethics, a link to which has been provided on the website set up for this case at www.deloitte.com/uk/paragonoffshoreplc
Forward-Looking Disclosure Statement
This document contains forward-looking statements. Statements regarding New Paragons operations and services, its competitive position, liquidity and its balance sheet, the composition of management, ability to create or maximize shareholder value, and the nature of the offshore drilling industry, as well as any other statements that are not historical facts in this release, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to risks associated with the general nature of the oil and gas industry, actions by regulatory authorities, customers and other third parties, and other factors detailed in the Risk Factors section of Paragon plcs annual report on Form 10-K for the fiscal year ended December 31, 2016 , Paragon plcs most recently filed report on Form 10-Q, and in Paragon plcs other filings with the SEC , which are available free of charge on the SEC's website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.
About New Paragon
New Paragon is a leading provider of standard specification offshore drilling services. New Paragons current fleet includes 32 jackups, including two high specification heavy duty/harsh environment jackups, four drillships, and one semisubmersible. New Paragons primary business is contracting its rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a dayrate basis around the world. New Paragons principal executive offices are located in Houston, Texas . New Paragon is a company incorporated in the Cayman Islands with registered number MC-323580, and registered office at c/o Maples Corporate Services Limited , PO Box 309, Ugland House, Grand Cayman , KY1-1104, Cayman Islands . Additional information is available at www.paragonoffshore.com.
For additional information, contact: For Investors & Media: Lee M. Ahlstrom Senior Vice President & Interim Chief Financial Officer +1.832.783.4040
Source: Paragon Offshore Services LLC
why would you play with a q that has definitively deemed the commons worthless. this bk was not in the midst of negotiations or asset revaluation or anything of that sort. the commons were already deemed and valued as receiving NOTHING out of the proceedings. not even "speculation" can change facts like that. it's stupid to invest in those well established facts.
People are pointing fingers but honestly what are you expecting on a Q stock? There's literally a .0001% chance any Q stock makes it through BK with commons in tact and skyrockets.
If your blaming HDOGTX then I sure hope your also giving him your profits when he brings all that exposure to a ticker. No I don't agree with everything he follows, but to shoot him down when we're literally all on here trying to daytrade and selfishly make quick money is just silly.
Summer time is usually bummer time on the OTC. Keep your money in your savings until fall then things will pick up. Literally haven't seen a good play since AMLH back in April. Everything since then has been 2 day pump and dumps with zero logic.
you should send your profits back to the people who lost their money here. The HDOG fund.
how much you make and others lost oh baby people pissed at you
No the 15-12g filing this am made it seem as if the co wanted make sure shares remained.... kick me around all you want...
i feel bad for those lost money here today! my post was second post here today! I saw the 15G filing and had the chance to jump in @ 0.0078 but i knew FORM 15G with Q stocks means 1 thing...cancellation!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=133085468
will this trade again how could the halt it midday ?
"My bad, I will be better than ever next time".....
But you knew the shares were worthless, did you not?
You lead sheep to the slaughter and you chalk it up to "my bad"....GTFO of here with that BS
well i for one lost a big chunk on this one but I sure dont find it funny to post about how people are stupid etc for attempting to make money on this - i acutally got out and came back in - my bad but still to those that lost i feel ya and to those that are talking smack - you have shown your true colours and regardless of the drop you should grow up
No, folks gonna be crying when they follow your shitty picks and lose all of their money... Stop following guys like this, he was unloading the entire time. I feel terrible for those who lost all of their money here.
Your right, but we learn from our mistakes, none of us are perfect.... I own up to my mistake here cause I am an honest man... beat me up all you want but I will be back again with more diligence than ever...
Good day gonzo
I feel pity for those who lost Bc they followed the wrong people and the hoopla. Bankrupt just as some was "buying more shares". When they say buy they mean sell as in to selling to you, keep track of who's on the level.
so what! that is what somebody even said to you! SO! the issue of the value of the commons was already settled. you knew that as well, and even when those of us pointed this out, you still ran around posting and pumping that "huge money here." not sure what you were trying to convince people of. shame on you.
What, too many Shiners already today, Harry?
i track hdogtx plays sometimes when he gets active at promoting q plays. he knows the status of bk filings, because he has pacer, but for some ungodly reason, he will still pump q plays even when he knows the shares are worthless. when i saw him jump on this one, i wanted to warn folks quickly and to urge them to defer to the pr's. there was no question about the worthless value of the commons here. the problem with these plays is that once the bk is settled and stamped, the commons can get cancelled at any moment.
The 15-12g filing is what got attention here this am.... I admit I made a mistake here.... and I apologize to anyone who lost money today cause of me.....
How is that working out for you?
Gee I wonder whose laughing now...
OUCH~!
WHO GOT BITTEN BY THE DOG?
DOG BITES CAN HURT PRETTY BAD SOMETIMES
SORRY FOR YOUR LOSS
I listened long ago. Freaking lots of money lost here for people I've been over playing a real stock. Now looking for others.
"huge money here." how sad. now, you don't even have the guts to come on the board and tell these folks you were flat out wrong. shame. i tried to tell them. you do the same thing all over the otc. criminal.
I owe gonzi on this one, almost bought than I read his posts and said nope, not buying... THANK YOU GONZI!!!
Lesson, folks: Be careful around the Qs.
So who keeps the money in those shares?
OTCs don't halt on % changes. There is no circuit breaker. If an OTC halts midday you better be ready for something drastic, like what happened here.
Harry does it regularly; the key is to sell before he does.
That is a false statement, that only happens on the Nasdaq and Listed stocks...
YES and shares cancelled ITS OVERRRRRRRRRRRRR HAHAHAHAHAHAHAHHA
very sad. the folks who were smart mouthed at me because i warned folks against hdogtx and his antics should have listened to me.
Wow...hope many got out in time.
Hahahahahaha i told them many times to watch out lol
your money is GONE. i tried to tell you less than an hour ago. commons were worthless. it had already been settled. there were no further negotiations pending.
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Latest News
On April 30, 2014, Noble Corporation updated its plans regarding the spin-off of Paragon Offshore. Noble announced its plans to effect the spin-off as a dividend of 100 percent of the shares of Paragon to Noble’s shareholders some time during the third quarter of 2014. This strategy, always a possibility in the overall separation, replaces the originally discussed proposal to offer a percentage of shares under an Initial Public Offering followed by a dividend of remaining shares in the future. The spin-off of 100 percent of the shares of Paragon accelerates the separation of the two companies compared to the original IPO/dividend strategy.
On June 10, 2014, Noble's shareholders approved an amendment of the Articles of Association of Noble to permit, but not require, Noble's Board of Directors to declare and pay one or more interim dividends of some or all of the ordinary shares of Paragon Offshore, Noble's wholly-owned subsidiary and/or any successor subsidiary of Noble owning any portion of Noble's standard specification assets to Noble's shareholders.
On July 11, 2014, Noble’s board of directors approved the spin-off of Paragon Offshore from Noble Corporation. Subject to the satisfaction of the conditions to the spin-off, the distribution is expected to occur on August 1, 2014.
On August 4, 2014, Paragon Offshore announced the completion of its spin-off from Noble into a separate, publicly-traded company that owns and operates standard specification offshore drilling rigs.
Following the close of business in New York on August 1, 2014, Noble distributed to its shareholders one ordinary share of Paragon for every three ordinary shares of Noble held at 5:00 p.m., New York City time, on the record date of the distribution, July 23, 2014. No fractional Paragon shares were issued; however, shareholders who would otherwise have been entitled to receive a fractional Paragon share in the distribution instead received cash in lieu of that fractional share.
Paragon ordinary shares began “regular-way” trading under the symbol “PGN” on the New York Stock Exchange on August 4, 2014.
What Does This Mean for Noble Shareholders?
If you owned shares of Noble as of the record date to be established by Noble’s board of directors, you will automatically receive shares in Paragon Offshore on the dividend payment date. The exchange ratio is one Paragon ordinary share for every three Noble ordinary shares owned. No fractional shares will be awarded; rather, investors will receive a cash payment for any fractional shares owed. Immediately following the dividend, shareholders in Noble will have the same percentage ownership in Paragon Offshore, even though the total number of shares owned in each company will be different since Paragon Offshore will not have the same number of total shares outstanding as Noble does.
Noble shareholders will continue to own the same number of shares in Noble after the dividend as they did before the dividend, as well as the Paragon Offshore shares that will be distributed as a dividend.
We urge you to consult our Registration Statement on Form 10, which has not yet been declared effective by the Securities and Exchange Commission, Click Here to Open, and read “Risk Factors—Risks Related to This Offering and Ownership of Our Shares.”
Company Information | Learn More About XBRL |
|
Address: | 3151 BRIARPARK DRIVE SUITE 700 |
City: | HOUSTON |
State: | TX |
Zip Code: | 77042 |
Telephone: | 44 20 3300 2300 |
Description of Business | Primary SIC Code: 1381 |
(As filed with the SEC) |
|
Paragon Offshore plc (together with its subsidiaries, "Paragon," the "Company," "we," "us" or "our") is a global provider of offshore drilling rigs with a fleet that currently includes 34 jackups and six floaters (four drillships and two semisubmersibles). We refer to our semisubmersibles and drillships collectively as "floaters." Our primary business is to contract our drilling rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for our exploration and production customers on a dayrate basis around the world. We operate our geographically diverse fleet with well-established customer relationships. We operate in significant hydrocarbon-producing geographies throughout the world, including Mexico, Brazil, the North Sea, West Africa, the Middle East, India and Southeast Asia. ... More ... |
Per Share Overview |
|
Date | 12-mos Rolling EPS | Dividend | P/E Ratio |
06/2015 | -9.03 | NA | N/E |
03/2015 | -8.41 | NA | N/E |
12/2014 | -7.63 | 0.125 | N/E |
Key Financial Ratios and Statistics | FYE: 12/31 |
|
Profitability | 2014 | Leverage | 2014 |
Net Inc/Comm Equity | -0.45 | Total Liab/Total Assets | 0.85 |
Net Inc/Total Assets | -0.20 | Total Liab/Inv Cap | 1.22 |
Net Inc/Inv Cap | -0.29 | Total Liab/Comm Equity | 1.94 |
Pretax Inc/Net Sales | -0.29 | Interest Coverage Ratio | -9.18 |
Net Inc/Net Sales | -0.32 | Curr Debt/Equity | 0.55 |
Cash Flow/Net Sales | 0.35 | LTD/Equity | 3.84 |
SG&A/NetSales | 0.02 | Total Debt/Equity | 4.39 |
Asset Utilization | Liquidity | ||
Net Receivables Turnover | 4.45 | Quick Ratio | 0.99 |
Inventory Turnover | NA | Current Ratio | 0.99 |
Inventory Day Sales | NA | Net Rec/Curr Assets | 0.76 |
Net Sales/Work Cap | -221.53 | Inv/Curr Assets | NA |
Net Sales/PP&E | 0.83 |
Income Statement (Millions) |
|
6/30/2015 | 3/31/2015 | 12/31/2014 | 9/30/2014 | |
Total Revenues(Net Sales) | 393.24 | 430.65 | 494.99 | 505.22 |
Cost of Goods Sold | 221.33 | 250.70 | 256.68 | 259.56 |
Selling & Admin Exps | 13.74 | 11.02 | 12.37 | 5.11 |
Operating Income | 57.73 | 95.65 | 4.31 | -796.42 |
Interest Exp | 29.04 | 30.20 | 28.01 | 22.45 |
Pretax Income | 28.85 | 67.72 | -20.56 | -818.53 |
Other Income | -3.91 | 19.06 | 3.13 | 0.34 |
Net Income Bef Extraordinary ... | NA | NA | NA | NA |
Net Income | 47.33 | 61.13 | 27.86 | -894.22 |
Balance Sheet (Millions) |
|
Assets | 6/30/2015 | 3/31/2015 | 12/31/2014 | 9/30/2014 |
Cash & Short Term Investments | 112.36 | 85.77 | 69.27 | 81.91 |
Receivables - Total | 356.13 | 349.00 | 539.38 | 441.88 |
Inventories - Total | NA | NA | NA | NA |
Total Current Assets | 568.02 | 519.04 | 713.29 | 643.57 |
Net Property, Plant & Equipment | 2,318.46 | 2,359.67 | 2,410.36 | 2,033.64 |
Total Assets | 3,024.85 | 3,006.31 | 3,253.39 | 2,780.29 |
Liabilities | ||||
Accounts Payable | 274.18 | 246.83 | 344.98 | 319.66 |
Debt in Current Liabilities | 6.50 | 6.50 | 272.17 | 6.50 |
Total Current Liabilities | 349.28 | 340.03 | 722.29 | 435.72 |
Long-Term Debt | 1,984.42 | 1,990.93 | 1,888.44 | 1,670.09 |
Total Liabilities | 2,426.68 | 2,460.68 | 2,761.78 | 2,305.40 |
Stockholder's Equity | ||||
Minority Interest | 0.00 | 0.00 | 2.64 | NA |
Preferred Stock | NA | NA | NA | NA |
Common Stock | 0.86 | 0.86 | 0.85 | 0.85 |
Retained Earnings | -786.79 | -834.12 | -895.25 | -912.03 |
Treasury Stock | NA | NA | NA | NA |
Total Stockholders' Equity | 598.16 | 545.63 | 491.61 | 474.90 |
Total Liabilities and Stockholders' Equity | 3,024.85 | 3,006.31 | 3,253.39 | 2,780.29 |
Cash Flow Summary (Millions) |
|
Categories | 6/30/2015 | 3/31/2015 | 12/31/2014 | 9/30/2014 |
Net Cash Provided by Operating Activities | 96.64 | 210.39 | 130.89 | 160.41 |
Net Cash Provided by Investing Activities | -63.42 | -22.55 | -274.44 | -88.26 |
Net Cash Provided by Financing Activities | -6.63 | -158.84 | 118.41 | -22.94 |
Annual Summary Data (Millions) |
|
Year | Sales | Net Income | EPS |
12/2013 | 1,893.00 | 360.30 | -- |
12/2014 | 1,993.76 | -646.75 | -7.63 |
Growth Rates | 5.32 | -- | -- |
Stock Ownership |
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Type | Date(Q,M) | No. Owners | Shares Held (000s) | % Own |
Institutional | 09/30/15 | 217 | 63,374 | 73.70 |
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