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Notice of effectiveness filed yesterday! They are in track to exit bankruptcy
https://investors.parkerdrilling.com/all-sec-filings
Lots of new jobs posted on PKDSQ website! Good things coming for this company following bankruptcy exit this week! https://www.jobs.net/jobs/parkerdrilling/en-us/all-jobs/
That’s good to hear!
Yes I'm literally offshore on a Parker rig right now. Lots of talk about ending bankruptcy.
You mean literally on a Parker rig :)? Am just so excited about the potential we have here! GLTA
I'm on a Parker Rig right now, and yes it's fixing to gear up!
We should be exiting bankruptcy this coming week! Huuuuge gains coming!
I'm dreaming of the day this stock hits the 5 year high...…:)
I think as we emerge out of bankruptcy we see possible buyout offers
I am loaded and just waiting! We get free warrants too after conversion to new shares! So much upside! This will run on bankruptcy exit news!
End of this month?
As in March?
This should pick up soon, re-emerged from bankruptcy by the end of the month, this is gonna fly
Down she comes!!!!! Come on I want it to drop to .20
I'd love for it to drop to .20....got my buy order in
Nite has been blocking for over two weeks with there 2.5k fake ask. 15,000 trades so far at .23 and yet no movement they need to let this move up or so they have alternative motives to keep this down. Maybe they had a short position.
I think the Q will remain and we should emerge out bankruptcy in late march to April
sounds like they are wanting us to give them more money after losing a shit load on this
Looks like we're getting closer to .20 juat .02 more cents to go
PKDSQ $$$$..I THINK THIS GIANT GOES HIGHER THAN $2.20 WHEN EVERYTHING IS SAID AND DONE...I THINK WE SEE $4.00-$5.00...
Guys $21M for existing common stocks. That is approximately 22% of the $95M new equity capital. With approximately ~9.4 M outstanding shares, means, ~$2.2 per share. The current price is a steal! Deal is happening this month! We are also eligible for warrant! Want more can one ask for!
Right on. Looking forward to seeing more DD shared on this board. Short and mid term I still see blue skies but haven’t figured out if it’s going to be a race or a gradual increase
See previous posts. These sales are all required as part of the restructuring. Not for bad reasons!
Existing common shares will be worth ~$2.2 each if you do the maths. Assuming 9,400000 common shares for a total of $21,000,000, that gives you $2.2. The $21,000,000 is ~22% of the total amount of $95,000,000. We are in good hands guys! Good time to buy! Almost a 1000% gain
$PKDSQ:
New Insider Filing on
See Remarks
JENNIFER FREMONT SIMONS:
http://insideri.com/1736375_000089924319007136_0000899243-19-007136 …
Thanks, I’ll have to do more DD on that tonight.
Page 4 of the rights offering shows the $15.06/share
https://cases.primeclerk.com/parkerdrilling/Home-DownloadPDF?id1=MTA1NDc1MA==&id2=0
I'm only interested in buying if this drops to .20
Okay, than please don’t assign a $0.25 to these Class 10s and a $15.06 on new commons if you cannot back up the figures.
I used the companies enterprise value straight from the disclosure statements with the 1.65% Class 10 ownership for my figure. That puts these at a $0.75 minimum.
Nah I’m not gonna do that. It was the rights offering for current shareholders to buy shares of new company. The math is still shakey regardless. Plus the new shares are currently unregistered or at least they were last week.
Link to ticker/quote? Thanks.
$15.06... common stock in the reorganized company at $15.06 per share.
Yep, $15.10?, still waiting.
Same question....what the heck is 15.10?
$15.10? Waiting. Thanks
Just got to wait till shorts cover, then this goes up. If there was enough volume we would have created a nice short squeeze.
What’s $15.10?
$15.10 X 1.65% = $0.25
As in what, the disclosure statement for the BK is false?
It’s not impatience, it’s a lack of trust
Impatient E*TRADE retailer selling lol, good, get him out.
PKDSQ $$$$ SO CRAZY UNDERVALUED HERE...INVESTORS ARE NUTS NOT BUYING UP THESE CHEAPIES....WILL EXPLODE UP !! WITH NO NOTICE !!! JUST WATCH $$$$
Existing common holders are getting 1.65% of the new commons which have an enterprise value of $425 million.
$425m x 1.65% = $7 million
As of March 6th there was 9.4 million commons Outstanding.
$7m / 9.4m = $0.75 PPS value of commons, 200% higher from here.
Proforma Statements shows $38 million Net Income in 2019, $65 million in 2022. Industry PE is 25.
Current value of Q shares:
$38m x 1.65% x 25 / 9.4m = $1.67 PPS
Future value of Q shares:
$65m x 1.65% x 25 / 9.4m = $2.85 PPS
They will be Net Income positive starting in 2019, many more variables will come in to play but these shares have an intrinsic value of $0.75-$1.67 now, $3-$5 once Wall St prices the new company imo.
It was a requirement for the percentage of the new class of commons.
what we have here is a gem! A rare find! Hardly do commons survive bankruptcy! In the coming weeks we will be smiling! I am looking forward to the bankruptcy exit.
The 4s filings are nothing to worry about. It as the company that decided that they should exchange the outstanding incentive shares RSU and PSU for workers and payed them money in exchange. That is a good thing for the workers. They can buy more common shares from the money since they were given money (33 cents) higher than current price of shares at that time (~23 cents at that time). Read the footnotes in the 4s filings carefully. It wa a mandate given to workers as part of the restructuring! They did not have s choice! Here the link. Look at foot notes 4 and 5
https://investors.parkerdrilling.com/all-sec-filings/content/0000899243-19-007128/form4.html?TB_iframe=true&height=auto&width=auto&preload=false
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Parker's international fleet includes 25 land rigs and two barge rigs in strategic markets, and its U.S. fleet includes 13 barge rigs in the U.S. Gulf of Mexico.
Parker's rental tools business supplies premium equipment to operators on land and offshore in the U.S. and select international markets. Parker's project
management business includes multiple contracts for the design, construction or operation of customer-owned rigs, including operation of an extended-reach-drilling
land rigs (also designed and built by Parker) and an offshore drilling platform.
Founded in 1934, Parker has set numerous world records for deep and extended-reach drilling and is an industry leader in safety performance. We leverage our
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