Prospect Global Resources Inc fka PGRX

[Renee]

PGRX registration revoked:

https://www.sec.gov/litigation/opinions/2019/34-86494.pdf

[rs99]

12(j)Registration Revoked by SEC 07/29/2019 08:46:00 PGRX
Prospect Global Resources Inc. Common Stock

[Renee]

PGRX SEC Suspension for severely delinquent Financials/Filings:

https://www.sec.gov/litigation/suspensions/2018/34-84219.pdf

Order:

https://www.sec.gov/litigation/suspensions/2018/34-84219.pdf

Admin. Proceeding:

https://www.sec.gov/litigation/admin/2018/34-84218.pdf

[green7]

pgrx going to bankrupt? please tell this stock future.

[deddhedd]

Same here. The information cuts off at the point where they failed to meet thier loan obligation last summer. No follow up from there.
The phone number in Raleigh is still going to an answering machine, but the website is non op.
I guess at this point am am just going to sit on my shares until there is news. My only hope would be Chap 11 filing, and hope they emerge from that.

[AtikusKhuda]

I have been doing some research to determine they still hold some leases, in the Holbrook Basin but I can not seem to come up with anything.

[deddhedd]

Does prospect still own any assets or leases? I see light trading on this almost daily, but no news....

[sick nam vet]

r/s time again,so it seems.

[AtikusKhuda]

In with a bang, out with a whimper.......

[Pike]

Well I guess this is the end. Been real and wish you all the best in other stocks.

[pineyhill]

I have a friend whose family lives there, heard there was Asian visitors in recently.

[TerribleTwit]

who knows

[steve2014]

Toughts on what the stock price will do ?
Thanks

[steve2014]

What do you think will happen to the share price when they go OTC?
Will it ever get back to 2.75 ?

[Renee]

PGRX: effective April 7,2014 PGRX delisted from Nasdaq to OTCQB:

http://www.otcbb.com/asp/dailylist_detail.asp?d=04/04/2014&mkt_ctg=NON-OTCBB

[TerribleTwit]

Buying here ..

[Caseylm]

yikes, bad for even these guys. I am only a bottomf feeder with PGRX and Passport and bought in real cheap. But im surprised if they dont get a real extension. Everybody knows they are broke but the creditors at this point have nothing to lose. BK means they get very little of a project in an ice cold sector. I never fully believed Sichuan was anything real but id be surprised they would want to lose a bargaining chip so quickly. I want to unload some today and i think its time to really consider selling Passport also.

[Pike]

Three day extension with talks to extend further is the word out in the filing...

[Sryinex]

So, this being the big day and all and not even a peep from the company? Doesn't bode well.

[Pike]

I wonder if they were able to get the extension... been way to quiet lately.

[AtikusKhuda]

Would sanctions for Russia would change the direction for this stock?

[smakkdaddy]

Yeah PGRX, I think we're going to like this trading stuff a hell of a lot better than investing in a biz any longer than is necessary...

Went all in on CBAK this morning @ 3.06...

And exited at 3.67 about a half hour later...

That's about a 20% gain before breakfast...

We'll be watching closely PGRX, but from here on it's nothing personal, it's just strictly business...

GLTA

[Pike]

I must be the last man standing on this stock... I think I will pull most of position out today if the price moves.

[Sryinex]

I'm following it, but not in it at all right now.

The Karlsson debt has been reduced to 25M from the previous 150M, the apollo debt is reduced to 1.7M from the 7.3M that they owed. This is all contingent upon them paying it in full on March 10th, which they have since said they cannot do and are in the process of obtaining an extension on that.

That's where it stands at this moment.

Sichuan is a mystery. I'm beginning to think they are just a leveraging tool without any real intention of investing in the company.

[Cakes10]

Syrinex I see you are still riding this thing out. Just did some brief DD and looks like possible BK? What are they doing to fund their 10 mil debt to Karlsonn do you know?

Is Sichuan still on the radar as well? I haven't followed PGRX since shortly after the last RS. Just curious as to what your thoughts are.

Thanks!

[Sryinex]

I'm happy that they are not offering lower than 1.50 as well. Actually, it says a lot that the stock has not dipped below that price with the 1.1M they just raised. In every other instance, whenever more shares were issued, the price immediately dropped significantly below the purchase price. Here, we're holding steady right at it. I think 1.50 may be a level of stability for a while now.

Again, this all depends on how this equity raise plays out as well.

I hope they do succeed.

The area desperately needs the jobs that this project will bring.

[Pike]

I saw that... At least PGRX is trying to keep the price at a bottom of $1.50. Once they close out the 25 million the other 1.3 million they owe in unsecured debt will convert to stock. I am assuming it will hold at 1.50. Total outstanding shares will go close to 23 million.

They still have another 747,298 in series A warrants, another 9,298,867 in other warrants. Then we have another 15,404,691 shares that are set aside to the board and other various individuals waiting to be vested.

So all told once every stock is converted and individuals vested have access we will be around 48 million outstanding shares.

Of course this all goes out the window if they do the reverse split.

Hopefully Sichuan will pony up the 20 million to get them through to the Definitive Feasibility Study.

In the end those that are left will be heavily diluted.

Thoughts anyone?

[Sryinex]

Prospectus is out.

17 Million shares being offered to the public.

Although it doesn't say, it's easily calculated that the price will be 1.50$ per share which will net them 25.5M$ should all be purchased.

The real question is, who's going to pony up this cash? I guess we'll find out.

[Pike]

Too jump or not to jump... that is the question. They really need to explain themselves outside an SEC filing.

[smakkdaddy]

And just like that...

We're out..

The language in that Risk Factor deal was entirely too strong for us...

Took a little bit of a haircut, but we're still standing...

Never to "invest" again...

We are traders now, plain and simple...

No more emotional attachment, we will instead forever strive to remain objective...

Onward and upward as it were...

And GLTA

[Sryinex]

Filing from 2/25

In the "risk factors" section.

[Sryinex]

As stated in one of the recent filings, they have enough cash to last them through March, that's it.

[vdb_123]

How long they can continue like this ? They don't have enough cash to survive another 6 months.

[smakkdaddy]

Certainly may not be for the squeamish without a PR to help tie a few things together, if what you say is true...

Link please...


Hello? PGRX?

Anybody listening?

Keep 'em comin'...

Speculative or no...

We'll take whatever you have...

We need to know...

Some direction to build from...

PGRX, say it ain't so...

PGRX LONG

[Sryinex]

They'll most likely get an extension as they have every other time. I highly doubt they'll go bankrupt now.

[kimbojoe]

Time to sell. Sell everything before bankruptcy is declared???

[smakkdaddy]

Where did you find this?

I know I'm half tarted, but I can't find it anywhere...

Was this said today or what?

Please provide a link, thanks...

[Caseylm]

This offering isnt new today. It was on their website regarding the 25 million. I cant imagine them raising that kind of money. Either it gets cancelled like last time or they know something

[Sryinex]

At this point, who knows. If it were me in your position, I would hope for a quick pump and carefully keep your eye on it intra-day to see when buying pressure starts to slow and sell off.

But if you believe that somehow it's going to become profitable for current shareholders even with the impending 20 to 1 R/S, then keep holding.

Also something to mention, this filing confirms that the majority holders(Scott Reiman & affiliates) are still looking to find someone to buy out their positions and they did NOT participate in the 1M equity raise we just had, it was all of the other funds and holders, likely just to average down their positions. This doesn't bode well for me, but others may have a different take of it.

I think the question on everyones' mind is, where is Sichuan in all of this?

[Pike]

Ugh! I guess we look for the stock to tank again tomorrow? They hired a firm to specifically help them find financing! whomever ponies up the 25 million will take a majority ownership and will be able to sway how things are run. If they can't even find 25 million why on earth should we stay invested in this company.

My breakeven is 2.25, if it even gets close to that I think i will jump ship.

Disappointed for sure...

[smakkdaddy]

Scratch that...I guess they do have casinos...

PGRX, are you listening?

Sichuan Chemical, Navajo and Apache tribes, your competitors, somebody, anybody to share in our potential...

I mean, where there is a will, there is a way, always...

Defeat is not an option...

[Sryinex]

Important bit from this SEC

As of February 25, 2014, we had approximately $0.3 million available for general corporate purposes. We have a $25.0 million payment due to The Karlsson Group on or before March 10, 2014. We will not be able to raise the money to make this payment by March 10, 2014 and are in discussions with The Karlsson Group to extend the due date of this payment. We may decide to file bankruptcy if we cannot extend the due date or raise sufficient funds to continue our operations.

TL;DR They won't be raising funds to meet the deadline. But they will be filing an extension. The limbo continues.

[smakkdaddy]

Well now, now that we know their homework is done, I'm hopeful that they will keep the PR's coming to help tie all of the components of this saga together...

This thing can come together any number of ways now...

Guess those Indian tribes don't have casinos huh? I mean, it would be in their own peoples interest to invest in PGRX IMO...

Keep the PR's coming PGRX, and do your DD, your investors need to be in the know so we can keep believing, and keep investing...

PGRX LONG

[Caseylm]

the last reverse split had a big rise right after. Granted it fizzled out but it did almost triple for a short period of time. Also there is the mysterious chinese company. is this a way to clear the decks for them to be more involved? Much easier to invest in a green project with less debt. Of course as you stated it could and will come at shareholder expense. At this point it may be just easier to ride this one out. Murphy's Law. Everytime I bail on a stock soemthing great happens the following week. Good luck to us all.

[Sryinex]

I would set that date before March 10th, because that is when the entirety of their debt is due, so they have to do the offering before then.

Unless of course they obtain an extension.

[kimbojoe]

Hey guys, I've been lurking for about six months on this forum. I bought in a while ago when it was about 14 cents a piece. Factor in the reverse split and you can do the math at how much I'm down.

To be honest, this mine is way off in the future from ever being developed. I've been researching heavily into the potash industry, and in my opinion, I believe that this mine will be developed, but not for many, many years. It's good that they have eliminated debt, but with the price of potash depressed from the highs it saw over two years ago, there's just no point in developing the mine, regardless of who owns it.

Long story short, I'm getting out before the next public offering. I've heard from a few sources that it should happen in mid-March. I'm setting a drop dead date of March 14th. Either I sell at $2 or at that date regardless of the price.

I truly believe that the public offering will bring the price down to $1.50, and then it'll drive down even more. Eventually, it'll be a penny stock again and then PGRX will reverse split again to make it a viable stock to institutional investors. Generally, I've found that all the public offerings that PGRX have been to insiders who get the stock in exchange for help in developing the mine. They've already sold off enough stock to get paid, and I'm not too sure how this happens, but they still make money by selling at a price lower than they get the option at (I'm a pretty novice investor if you haven't noticed yet).

Again, I can really see the stock tanking after the public offering to the pennies, and then a reverse split to bring it back into the dollars. Then it'll stay there until the market rebounds and the price of potash returns. At that point, PGRX will find the money to develop or entertain a buyout, and it will be at this point regular Joe Schmoe investors like me will finally make money.

I'm not waiting around for that. However, I will be back to buy the stock for pennies on the dollar.

Just my two cents. Good luck everybody!

[Pike]

Saw that they submitted that report not sure on what scale this is PR wise.

[smakkdaddy]

http://www.heraldonline.com/2014/02/24/5710284/pgrx-permit-update-prospect-global.html

[smakkdaddy]

WTH? Dude...English please.

Bail, or not to bail...

That is the question...


Always optimistic...

But...

PGRX needs a PR to make sense of what they are trying to do, how they intend to do it, and with whom...

An all out PR/media blitz to makes believers of all of us...

Else, how do you intend to raise the capital?

Or, better yet, ink the deal...

Either way, it's time you let us know...

PGRX

[Pike]

What I see is a once high end pay out if you waited till the mine started producing to something slowly being reduced to nothing...