Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Did well here buying low selling High last time- Still on watch when it comes down back to down the .01s.
$CGRA is one I like here now.
Disregard my earlier post about PNCLQ(I only posted once). I have reached a different conclusion with further research.
I bought a small position in PNCLQ as an option. After reading about bankruptcies I found out that sometimes equity holders do not go to zero. I saw there is some book value on tangible assets so why not. And I also saw there are a couple of big shareholders who probably don't want to lose their equity. Also, I read that a recent development in bankruptcies was the formation of equity committee's to represent shareholders. But this is speculation on my part.
PNCLQ not cancelled until Feb. 15th. or later:
"Pinnacle said it must file a reorganization plan acceptable to Delta and other creditors by Feb. 15." Then it has to go to court to get approved, if approved the company exits bankruptcy and the bankrupt stock stops trading.
But until then, PNCLQ will continue to trade up and down, and the closer it gets to court date the higher it will climb. Just sell on or after the court date...
Got out today, sold @ $0.025....thought there was a pop in the cards but after recent news, I'm out. Took a loss, lesson learned. The 8K kinda said all. GLTA.......
After reading the 8-k yesterday, I could not believe I got out right at open. I just knew that there would be a run on the exit. i was prepared for a loss and ended up with a decent gain.
Just waiting for some idiots to buy their worthless paper like yesterday. As nobody else is buying the garbage, they're either holding the paper themselves, or just let them go Zero.
Agree it is odd but thus is the way of these BK stocks. The 8k from yesterday clearly states they plan to cancel common when they emerge. I guess it could be contested? Hard to see how when Delta literally holds all the cards..
HOW COME THE SKY IS NOT FALLING? SHOULDNT IT BE A FREE FALL RIGHT NOW? WHY IS IT NOT? ANYONE?
Wrong. You can't cite any document with the court backing you up because this is the first re-org plan they have filed. But please .. do go ahead and post it. Get over yourself man. It's still trading 0.033 vs 0.045.
No. The company stated before that all commons would be canceled. You've just deceived people who didn't read it. Go read its previous PR's.
Those who listened to you and bought it at high's are idiots, Man!
He read it in the 8k which is public information filed today. Prior to that he was just speculating like everybody else.
your right...commons canceled
8k with restructure detail
http://biz.yahoo.com/e/130103/pnclq8-k.html
On January 2, 2013, Pinnacle Airlines Corp, debtor-in-possession (the "Company"), and its wholly own subsidiary, Pinnacle Airlines, Inc., debtor-in-possession ("Pinnacle"), filed three motions with the Bankruptcy Court seeking authorization to enter into various agreements with Delta Air Lines, Inc. ("Delta"), the Air Line Pilots Association, International ("ALPA"), and/or the official committee of unsecured creditors in the Company's Chapter 11 proceedings (the "Creditors Committee"), relating to a tentative collective bargaining agreement with Pinnacle's pilots, incremental liquidity and an enhanced debtor-in-possession financing with Delta, support for the Company's plan of reorganization, a restructured fleet, and amendments to its connection agreements with Delta. The agreements (which were filed with the Bankruptcy Court in the Company's Chapter 11 proceedings), and their material terms, are as follows:
1) Sixth Amendment ("Sixth Amendment" ) to Senior Secured Super-Priority Debtor-in-Possession Credit Agreement (the "Credit Agreement")
- increases the amount of post-petition financing available to the Company by up to an aggregate principal amount of $52 million, of which $22 million is reserved and available solely in order to make the Longevity Transition Payments (defined below) required under the Bridge Agreement (defined below) and payments to taxing authorities for employer taxes relating thereto
- extends certain milestone deadlines, including an extension of the deadline for the Company to file a plan of reorganization and disclosure statement that are reasonably acceptable to Delta to February 15, 2013 from January 31, 2013
- modifies certain financial covenant requirements
2) Letter of Agreement with Air Line Pilots Association, International
- nine-percent across-the-board wage reduction for Pinnacle's pilots, with annual contractual pay rate increases of one percent beginning in 2015 through 2019, and a lower top of scale wage for captains and first officers
- restructuring of vacancy filling process, elimination of certain restrictions on utilizing reserve pilots (the long call reserve), changes in assigning and paying open time, and a reduction in pay during training events
- increases in employee contributions for medical insurance, reductions in Pinnacle's 401(k) matching contributions and the establishment of a profit sharing plan
- modifies certain other work rules and benefits
- payment of ALPA's reasonable and documented professional fees up to $500,000, and specified indemnification for ALPA and its members and representatives
- ALPA granted a non-priority general unsecured claim against each of the debtors in the Chapter 11 proceedings in the amount of $138,556,524
3) Bridge Agreement by and Among Pinnacle Airlines Corp., Air Line Pilots Association, International, Delta Air Lines, Inc., and Pinnacle Master Executive Council (the "Bridge Agreement")
- commitments by Delta to maintain at Pinnacle no fewer than 41 76-seat aircraft and to place and maintain at Pinnacle an incremental 40 76-seat aircraft deliveries above the current total (subject to certain conditions)
- establishes enhanced career progression opportunities for Pinnacle's pilots with mainline Delta operations
- provides specified enhanced furlough and pay benefits, to be paid by Pinnacle and reimbursed by Delta as pass-through costs, to eligible pilots who are furloughed from active service during a period commencing from entry into the Bridge Order through the six calendar months following the removal of the last CRJ-200 aircraft from Pinnacle's operations
- provides that the Company will pay an aggregate of approximately $20 million to individual pilots on the Pinnacle Airlines Pilot Seniority List ("Longevity Transition Payments"), ranging from $2,000 for pilots with one year of longevity to $26,000 for pilots with 20 or more years of longevity; Company will also pay employer taxes relating thereto
4) Restructuring Support Agreement By and Among Pinnacle Airlines, Corp., Delta Air Lines, Inc. and the Creditors Committee
- The Company, Delta, and the Creditors Committee each agree, subject to certain conditions and termination events, and consistent with fiduciary duties, to support solicitation, approval, and consummation of a plan of reorganization of the Company consistent with terms set forth in the term sheet attached thereto.
- The term sheet for the proposed plan of reorganization (the "Restructuring Term Sheet") includes the following terms and conditions:
- administrative and priority claims other than tax claims will be paid in full upon emergence; all priority tax claims will be paid in accordance with section 1129(a)(9)(C) of the Bankruptcy Code
- a portion of Delta's claims on account of obligations outstanding under the Credit Agreement (the "DIP Claims") will convert into an exit facility; the remaining balance of the DIP Claims will convert into equity in the reorganized Company
- the obligations under the Amended and Restated Credit Agreement, among certain of the Debtors, CIT Bank, and the other lenders party thereto from time to time, will be reinstated
- holders of other secured claims will receive either (a) payment in full in cash (if payment is not then due, in accordance with the payment terms of the applicable agreement) or (b) delivery of the collateral securing their claims
- a trust will be established and funded by Delta with $2.25 million (minus any fees and costs incurred by the Creditors Committee in connection with any investigation relating to specified causes of action) for the purpose of reconciling and making distributions on account of all unsecured claims; distributions from the Trust will be shared pro rata between all holders of unsecured claims (except that Delta waives the right to receive distributions on account of its unsecured claims)
- existing equity interests in the Company will be canceled
- broad general Company and third party releases from claims (excluding gross negligence and willful misconduct) will be granted to Delta, the Creditors Committee, the Company and the Reorganized Company, including specified affiliates, current and former employees, directors, and advisors, subject to specified limitations set forth in the Restructuring Term Sheet
5) Amendments to Delta Connection Agreements among Pinnacle Airlines, Inc. and Delta Air Lines, Inc.
- Delta commits to place and maintain at Pinnacle an incremental 40 76-seat deliveries;
- the new CRJ-900 aircraft will be subject to the same lease terms and conditions as the 41 CRJ-900 aircraft currently leased from Delta;
- either: (a) Delta and Pinnacle shall agree on a schedule for the early termination and return of the 140 leased CRJ-200 aircraft under their CRJ-200 flying agreement or (b) Delta may provide Pinnacle with 120 days advance written notice with respect to early termination and return of any CRJ-200 leased aircraft under such Agreement; and
- Pinnacle will not need to comply with aircraft return conditions for such CRJ-200 aircraft and shall have no liability to Delta with respect to the early termination and return of such aircraft (other than related to the Pinnacle's intentional or willful misconduct or gross negligence).
Listen to the pumpers like WD... and lose all your money. Hahahah.
Yes looks to me like from the 8k commons will be cancelled. I got out @0.05. 0.03 -> 0.05 was quite a ride but happy with the profit GLTA!
PNCLQ, emerging from BK and All commons to be Canceled in 1 or 2 weeks. Man!!!
8-K states: "existing equity interests in the Company will be canceled"
All the common shares will be Canceled! All your money will be Gone, forever!!!
that is what i think...could be WRONG...GLTU!!!!
hmmmmm...but are commons canceled?
becareful..from just out 8K:
existing equity interests in the Company will be canceled
commons are staying right? 8-k just came out
Nothing public yet that I can find. You would know because this would not be trading @0.04 JMHO.
do commons stay? tia!
Nice shake today before the PR. Buying has re-commenced now 0.04 vs 0.045.
Pinnacle Airlines Reaches Comprehensive Agreements To Provide a Viable Cost Structure and Path Out of Chapter 11
Long-Term Business Plan Provides for Pinnacle to Operate 81 Two-Class Regional Jets for Delta Air Lines
http://finance.yahoo.com/news/pinnacle-airlines-reaches-comprehensive-agreements-164700382.html
MEMPHIS, Tenn., Jan. 3, 2013 /PRNewswire/ -- Pinnacle Airlines Corp. (OTC: PNCLQ) announced today that it and its wholly owned subsidiaries have entered into comprehensive agreements that, among other things, provide a path forward for the Company to emerge from bankruptcy with a competitive cost structure and a viable long-term business plan. Under Pinnacle's new business plan, the Company will transition its fleet to operate a fleet of 81 fuel-efficient, two-class regional jets for Delta Air Lines Inc.
The comprehensive agreements among Pinnacle, Delta, the Air Line Pilots Association, International (ALPA) and the Official Committee of Unsecured Creditors (Creditors' Committee) in Pinnacle's Chapter 11 cases include:
An amendment to the Company's existing debtor-in-possession credit facility, to provide Pinnacle with $30 million of additional liquidity to support its continued operation through emergence from Chapter 11 and an additional $22 million to fund certain required payments to Pinnacle's pilots under a Bridge Agreement and related employer taxes. The amendment would also extend the maturity date for the credit facility from April 1 to May 15, 2013.
Amendments to the existing operating agreements with Delta that form the basis of the new business plan. Pinnacle will receive Delta Connection's next 40 CRJ-900 aircraft awarded, setting Pinnacle's long-term fleet plan at 81 CRJ-900 aircraft. The 40 additional CRJ-900 aircraft deliveries are planned to begin in the fall of 2013 and are expected to be completed by year-end 2014. Pinnacle's 140 CRJ-200 aircraft will be removed from operation over the next two to three years.
A Bridge Agreement that provides transitional payments, furlough benefits and specified career opportunities at Delta to Pinnacle's pilots in conjunction with the recently negotiated letter of agreement between Pinnacle and ALPA.
A letter of agreement to amend Pinnacle's collective bargaining agreement with the ALPA pilots. This letter of agreement and the Bridge Agreement are subject to ratification by the ALPA membership by Jan. 15, 2013.
A restructuring support agreement among Pinnacle, Delta and the Creditors' Committee setting forth certain principal terms for a plan of reorganization to emerge from Chapter 11. The reorganization plan will provide for Delta or an affiliate to acquire the equity in the reorganized Pinnacle Airlines Corp. after it emerges from bankruptcy. Pinnacle must file a plan of reorganization acceptable to Delta and the Creditors' Committee by Feb. 15, 2013.
Pinnacle filed motions with the Bankruptcy Court seeking approval of the various components of the comprehensive agreements. All of the components of the comprehensive agreements are interdependent and are subject, among other things, to Court approval.
"The agreements we have reached represent a significant milestone in Pinnacle's restructuring and provide a clear and achievable path toward emergence from Chapter 11," said John Spanjers, president and CEO of Pinnacle Airlines Corp. "Pinnacle will be well positioned to emerge from the bankruptcy process with a viable business plan that provides meaningful opportunities for our employees. We are confident that Delta will continue to be a strong partner and we look forward to working closely together to provide outstanding service and operating a safe, reliable airline. We also thank our partners, employees and other stakeholders who have helped us achieve this significant progress in our reorganization."
Additional information about the comprehensive agreements is available in the motions filed with the Bankruptcy Court, as well as in a Form 8-K filed by Pinnacle with the Securities and Exchange Commission.
About Pinnacle Airlines Corp.
Pinnacle Airlines Corp. (OTC: PNCLQ), an airline holding company with 5,100 employees, is the parent company of Pinnacle Airlines, Inc. Flying as Delta Connection, Pinnacle Airlines, Inc. operates 191 regional jets on 1,000 daily flights more than 100 cities in the United States and Canada. Corporate offices are located in Memphis, Tenn., and hub operations are located in Atlanta, Cincinnati, Detroit, Memphis, Minneapolis and New York. Visit www.pncl.com for more information.
Media Contact
Joe Williams
Pinnacle Airlines Corp.
901-346-6162
mediarelations@pncl.com
Michael Freitag / Nick Lamplough
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
Investors Contact
Ron Kay
901-344-5705
investorrelations@pncl.com
SOURCE Pinnacle Airlines Corp.
Bid is rising again 0.032 vs 0.043 now. Looks like 0.03 was near term bottom. Ready to bounce up again..
http://www.bizjournals.com/memphis/blog/memphis-in-motion/2012/12/pinnacle-airlines-lost-nearly-10.html?ana=&page=all
the company reported a net loss of $9.9 million for the month (November 2012). This is on par with October, when the company reported a $9.8 million loss.
Pinnacle reported total assets of $790.5 million in November.
Pinnacle’s agreements with AFA and TWU were approved by the bankruptcy court on Nov. 27.
-------
Conceivable to forsee at time of emergence how assets could exceed debt by several million $ considering the newly ratified agreements with AFA and TWU. Do the DD for yourself.
Then of course there is the possibility of a buyout.
AA will bail em out, AA = billion dollar co....all shares will be $1.00++ shorty....
edit, sorry meant shortly....
Lost $10 Million in Nov. just 1 month. Huge loss! Isn't it? It's finished and all shares are going be CANCELLED, Shortly!
lmao, so bad the bid just up ticked to .05 + 400 shares were dmped at .05, oh the agony.......how much you down so far from .007, .01? go long, make it up that way....
PNCLQ: bad news out: Pinnacle Airlines lost nearly $10 million in November. Huge losses!
http://www.bizjournals.com/memphis/blog/memphis-in-motion/2012/12/pinnacle-airlines-lost-nearly-10.html?ana
Certainly appears that way. Wonderful to watch and become educated on how MMs will try and un-box themselves. Volume and price action doesn't lie.
i believe very little on threads, charts n level 2....mms r short here, it shows...
bid support ticking up....
They trade with themselves a few thousand here and there, but it's a ticking time bomb.
they are trying to load here, keeping it down a tad....
Why it went to $0.007 with big sells? Because it was reported that it would be Cancelled by the end of year!
Are you getting people trapped in it to lose money?
Liar, you look at here yourself: Volumes/prices:
2012/12/18 0.0095 0.015 0.0080 0.0086 542,794 0.0086
2012/12/17 0.010 0.010 0.0075 0.0095 115,000 0.0095
2012/12/14 0.0072 0.010 0.0072 0.010 243,128 0.010
2012/12/13 0.0079 0.0079 0.0072 0.0079 349,458 0.0079
2012/12/12 0.0090 0.0095 0.0071 0.0071 127,430 0.0071
2012/12/11 0.0090 0.0090 0.0080 0.0090 67,613 0.0090
2012/12/10 0.0072 0.010 0.0071 0.0080 134,200 0.0080
2012/12/07 0.0071 0.010 0.0071 0.0072 127,010 0.0072
2012/12/06 0.0071 0.0099 0.0071 0.0071 73,567 0.0071
2012/12/05 0.0070 0.0071 0.0070 0.0071 21,644 0.0071
2012/12/04 0.010 0.010 0.0080 0.0080 213,025 0.0080
2012/12/03 0.014 0.014 0.0060 0.0080 2,488,765 0.0080
2012/11/30 0.012 0.012 0.0070 0.0070 332,292 0.0070
2012/11/29 0.015 0.015 0.010 0.012 1,301,700 0.012
2012/11/28 0.011 0.017 0.011 0.015 47,036 0.015
2012/11/27 0.018 0.018 0.012 0.018 98,674 0.018
2012/11/26 0.019 0.019 0.015 0.015 352,042 0.015
2012/11/23 0.016 0.020 0.015 0.020 310,782 0.020
2012/11/22 - 0.025 0.016 - - -
2012/11/21 0.025 0.025 0.016 0.025 25,300 0.025
2012/11/20 0.016 0.025 0.016 0.025 280,384 0.025
2012/11/19 0.015 0.030 0.015 0.020 546,155 0.020
2012/11/16 0.014 0.015 0.010 0.015 254,200 0.015
2012/11/15 0.011 0.015 0.011 0.015 30,000 0.015
2012/11/14 0.015 0.015 0.011 0.015 152,865 0.015
2012/11/13 0.015 0.017 0.015 0.015 36,500 0.015
2012/11/12 0.025 0.025 0.015 0.017 30,550 0.017
2012/11/09 0.022 0.022 0.015 0.017 165,450 0.017
2012/11/08 0.019 0.024 0.017 0.017 63,070 0.017
2012/11/07 0.019 0.021 0.019 0.019 23,250 0.019
2012/11/06 0.024 0.024 0.024 0.024 10,417 0.024
2012/11/05 0.025 0.025 0.020 0.024 56,800 0.024
2012/11/02 0.020 0.020 0.020 0.020 26,255 0.020
2012/11/01 0.028 0.028 0.020 0.020 28,150 0.020
2012/10/31 0.030 0.030 0.017 0.017 419,052 0.017
2012/10/30 - - - - - -
2012/10/29 - - - - - -
2012/10/26 0.029 0.029 0.026 0.026 6,000 0.026
2012/10/25 0.030 0.030 0.026 0.026 7,475 0.026
2012/10/24 0.025 0.027 0.024 0.027 63,325 0.027
2012/10/23 0.028 0.030 0.025 0.025 34,800 0.025
2012/10/22 0.024 0.024 0.024 0.024 15,729 0.024
2012/10/19 0.024 0.024 0.024 0.024 15,500 0.024
2012/10/18 0.029 0.029 0.024 0.028 23,110 0.028
2012/10/17 0.024 0.030 0.023 0.023 17,500 0.023
2012/10/16 0.033 0.033 0.027 0.027 102,541 0.027
2012/10/15 0.025 0.033 0.025 0.027 182,377 0.027
2012/10/12 0.023 0.025 0.023 0.025 6,742 0.025
2012/10/11 0.025 0.025 0.025 0.025 18,000 0.025
2012/10/10 0.025 0.025 0.025 0.025 420 0.025
2012/10/09 0.030 0.030 0.025 0.025 46,050 0.025
2012/10/08 0.029 0.029 0.023 0.023 29,401 0.023
2012/10/05 0.025 0.025 0.024 0.025 8,940 0.025
2012/10/04 0.029 0.029 0.025 0.029 27,930 0.029
2012/10/03 0.029 0.029 0.025 0.025 5,150 0.025
2012/10/02 0.025 0.025 0.024 0.024 132,054 0.024
2012/10/01 0.030 0.030 0.023 0.027 150,300 0.027
There is so little if any to be "fished" here - soon MMs will chase it up with buying. No option.
0.0565 vs 0.0569
mm's caught short, it shows in sentiment too...lmao
Learn how to read a chart. Only volume under 0.01 was in December and well under 5 million. How many @0.007? Just one day below 0.007. Pure lies.
Around 5.2 Million shares below $0.007 since Nov 30, very few shares? And around 16 million shares between $0.007 and $0.025 since Aug. VERY FEW?
Go check its historical volumes/prices!
You're one of the dead pumpers, Man!
Why so upset Honda? The pure facts don't support your assertations. Very few shares were purchased under 0.01 so this wasn't front loaded at all. Just check the chart.
Followers
|
9
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
300
|
Created
|
04/17/08
|
Type
|
Free
|
Moderators |
Whether you are seeking employment or information about the airline, we invite you to get to know us.
John Spanjers
President and Chief Executive Officer
Pinnacle Airlines Corp.
http://www.flypinnacle.com/site/our_company/aircraft.php
|
Receive E-mail Alerts |
Filing Date | Form | Description | Filing Group | Downloads |
11/13/12 | 8K | Report of unscheduled material events or corporate event | Current Reports | |
10/25/12 | 8K | Report of unscheduled material events or corporate event | Current Reports | |
10/04/12 | 8K | Report of unscheduled material events or corporate event | Current Reports | |
09/26/12 | 8K | Report of unscheduled material events or corporate event | Current Reports | |
09/18/2012 | CT | CT ORDER | Current Reports | |
09/13/12 | 8K | Report of unscheduled material events or corporate event | Current Reports | |
09/07/12 | 8K | Report of unscheduled material events or corporate event | Current Reports | |
08/31/12 | 8K | Report of unscheduled material events or corporate event | Current Reports | |
08/28/12 | 8K | Report of unscheduled material events or corporate event | Current Reports |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |