Proterra Inc (fka PTRAQ)

[Renee]

PTRAQ: BK PLAN effective. All shares cancelled:

https://otce.finra.org/otce/dailyList?viewType=Deletions

[BurgerKing82]

Anyone think this can hit .10?

[huka]

Still think this is a monster ev play? Ouch Q

[SriMaharaj]

Once it clears 35 marks then will start to go up fast

[SriMaharaj]

Huge volume. Going to close greeeennn.

[SriMaharaj]

Huge volume. Going to close greeeennn.

[tchalla]

why are people buying when the commons are getting canceled?

[SriMaharaj]

Huge bid of 1M+. Going to cross 10 cent soon.

[db7]

https://finance.yahoo.com/news/proterra-announces-results-chapter-11-070500754.html

[db7]

https://www.kccllc.net/proterra/document/2311120231109000000000063

[db7]

from recent Q: "LG US Facility Plan Modification
On October 25, 2023, LG Energy Solution issued a press release announcing that it modified its plan for a yet to be built battery cell manufacturing plant in the United States to only produce 46-series battery cells instead of the original plan to produce both 46-series and 2170 battery cells. According to the press release, the expected date for start of production remains unchanged, scheduled for late 2025. The Company is currently in discussions with LG Energy Solution concerning the existing long-term supply agreement which contains minimum volume commitments and certain milestone-based prepayments related to the construction of the US facility as disclosed in Note 7, Commitments and Contingencies. The Company continues to recognize the $10.0 million prepayment as a long-term inventory prepayment on the condensed consolidated balance sheets as of September 30, 2023."

[db7]

also:
"


Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
The consummation of the Chapter 11 plan may have an unfavorable tax impact on us, and we may be limited in the portion of net operating loss (“NOL”) carryforwards that we can use in the future to offset taxable income for U.S. federal and state income tax purposes. As of December 31, 2022, we had U.S. federal NOL carryforwards and state NOL carryforwards of approximately $729.5 million and $531.1 million, respectively, which if not utilized will begin to expire for federal and state tax purposes beginning in 2030 and 2023, respectively. Federal NOLs generated after December 31, 2017 have an indefinite carryover period, and may be utilized to offset no more than 80% of taxable income annually.
As previously disclosed, the Company is in the process of a Bankruptcy Court-approved bidding process that may result in the sale of all or substantially all of its assets. The potential gain or loss recognized with respect to these transactions will depend on, among other things, (a) the value and tax basis of the assets sold; (b) complex modeling considerations under certain U.S. Department of Treasury regulations and (c) the amount of cancellation of indebtedness income realized, if any, in connection with the Chapter 11 plan. Our NOLs (and other tax attributes) may be subject to use in connection with the implementation of any bankruptcy Chapter 11 plan or subject to reduction as a result of any cancellation of indebtedness income arising in connection with the implementation of any bankruptcy Chapter 11 plan. To the extent NOL attributes remain upon emergence from bankruptcy, realization of NOL carryforwards depends on future income, and there is a risk that these carryforwards could expire unused and be unavailable to offset future income tax liabilities.
In addition, under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended (the “Code”), if a corporation undergoes an “ownership change,” generally defined as a greater than 50% change (by value) in its equity ownership over a three-year period, the corporation’s ability to use its pre-change NOL carryforwards and other pre-change tax attributes, such as research tax credits, to offset its post-change income or taxes may be limited. While we have obtained entry of an order from the Bankruptcy Court limiting certain equity trades which may otherwise trigger an ownership change, we may experience ownership changes in the future, including as a result of the consummation of a Chapter 11 plan.
Accordingly, there can be no assurance that we will be able to utilize our income tax NOL carryforwards or other tax attributes to offset future taxable income, even if any such tax attributes survive any bankruptcy Chapter 11 plan.



"

[db7]

also:

"

Although we cannot predict how the claims and interests of stakeholders in the Chapter 11 Cases, including holders of common stock, will ultimately be resolved, we expect that common stockholders will not receive a recovery through any plan unless the holders of more senior claims and interests, such as secured indebtedness, are paid in full. Consequently, there is a significant risk that the holders of our common stock would receive no recovery under the Chapter 11 Cases and that our common stock will be worthless.


"

[db7]

also in that link:

"

We may be subject to a Liquidation Premium Claim as a result of the Chapter 11 proceedings.
The terms of the Convertible Notes provide that prior to the maturity date, in the event of a liquidation or sale of the Company, the Company would be required to pay to the holders of Convertible Notes, in lieu of paying the principal amount of the Convertible Notes, the greater of (i) 150% of the principal balance of the Convertible Notes or (ii) the consideration that the holders would have received had the holders elected to convert the Convertible Notes into common stock immediately prior to such liquidation event (the “Liquidation Premium”). As set forth in the final cash collateral order in the Chapter 11 proceedings, the Cowen Parties, who hold approximately 98% of the outstanding aggregate principal amount of the Convertible Notes, have reserved the right to assert a claim for the Liquidation Premium (“Liquidation Premium Claim”). The Cowen Parties are required to file a master proof of claim in the Chapter 11 proceedings, which may include the Liquidation Premium Claim, by no later than November 15, 2023. While we believe that no Liquidation Premium has been triggered or could be triggered in the future by the commencement and prosecution of the Chapter 11 proceedings, there is a risk that the Cowen Parties assert a Liquidation Premium Claim and that the adjudication of any such claim may be unfavorable to the Company, resulting in increased claims against the Company in the amount of the Liquidation Premium.

"

[db7]

"Process for Sale of All or Substantially All of Our Assets
At the outset of our Chapter 11 Cases, we commenced a bidding process that may result in the sale of all or substantially all of our assets pursuant to section 363 of the Bankruptcy Code. The Bankruptcy Court approved the bidding procedures on September 7, 2023. The bidding procedures provide for substantial flexibility with respect to the structure of any transaction. The Company may select one or more stalking horse bidders and pursue Bankruptcy Court-approved bid protections if the Company believes, it the exercise of its business judgment, that doing so will maximize value. The bidding procedures permit potential bidders to submit bids with respect to not only sale transactions but also other types of transactions involving the Company and its assets, including, without limitation, proposals for the raising of debt or equity financing in connection with a chapter 11 plan of reorganization.



"


https://ih.advfn.com/stock-market/USOTC/proterra-pk-PTRAQ/stock-news/92474212/form-424b3-prospectus-rule-424b3

[db7]

it remains to be seen if common have value here but i'm hopeful.... buyer beware... and g/l!

[Clariske]

Thank you very much !

[db7]

"The following financial data is the latest available information and refers to the debtor's condition on June 30, 2023.
a. Total assets $ 818,773,679.77
b. Total debts (including debts listed in 2.c., below) $ 609,498,207.66


"

https://www.kccllc.net/proterra/document/2311120230807000000000001

[db7]

"The Debtors estimate that, as of the end of their 2022 tax year, they had federal
NOL carryovers in the amount of approximately $729.5 million, federal R&D Credit
carryforwards of approximately $7.2 million, state NOL carryovers of approximately $531.1
million, and state R&D Credit carryforwards of approximately $4.3 million (such NOL
carryovers, R&D Credit carryforwards, and certain other tax attributes, collectively, the “Tax
Attributes”), and may incur additional NOL carryovers, R&D Credit carryforwards and other tax
attributes throughout the pendency of these chapter 11 cases"

https://www.kccllc.net/proterra/document/2311120230807000000000005

[db7]

https://www.kccllc.net/proterra/document/2311120231013000000000012

[Clariske]

THhe stock hat a reason to go up. Why is this?

[ican70]

You may be correct.

[Clariske]

I will do that!

[DK11]

IMHO, I truely believe in this months' time. This is gonna take off Big Time.

[DK11]

Ok Thank You!!!

[ican70]

The court docs provide good information



https://stocktwits.com/symbol/PTRAQ

https://www.kccllc.net/proterra/document/list/5955

[ican70]

Go to stocktwits, search for the ticker and you will find vibrant discussions and good posters.

[Clariske]

indeed we need answers, we don't know if they exist next year or not!

[DK11]

I do wish this Company would start bringing some news out. like, whats the plan here????

[DK11]

You're Welcome, I was just wondering if anyone else has info about this stock? This shouldn't just be a one-man band. Lol....

[ican70]

Thank you appreciate it.

[DK11]

Yes, I do. It's all through August and September staying right up to date. They just keep coming.




https://fintel.io/so/us/ptra

[ican70]

Hi DK11,
Do you have a link to support institutional interest?

[DK11]

If that is true, then why did Proterra Inc, just receive 4 more Institutional Owners come in on 9/22/2023.
Totalling over 11 m shares. I guess they just like wasting money on a scam? I would imagine they know more than we do?
Why do you feel this is a scam? What do you base that comment on? Court hearings take time, so does re-organizing a Company.
All I know is the Big Guys have interest in this over 300 of them.

[uber darthium]

It’s now a bankrupt SCAM

[DK11]

I did pick up on this article from twitter.

https://twitter.com/search?q=%24PTRAQ&src=cashtag_click

[DK11]

Does anyone know more about this stock? Seems rather quiet.

[DK11]

Wow, Nice all I know with Institutional Owners jumping in every day, and now this wonderful news you just stated,
Something big is coming, you don't wanna miss this train.

[hondaboost]

PTRAQ, Total Assets; $884 M ($4/share), cash: $64 M. Actually, it should have NOT filed Chapter 11. Or, the managements are playing tricks, it might come back to get re-listed. We'll see.
Asset Values: $4/share!

[DK11]

Okay this is BK Chapter 11. Which is for this company to re-organize. What has attracted me here is for this whole month of
August, I have been noticing more and more Institutional Owners coming in, even up to now. That to me is a good sign.

[Clariske]

No I am not out but I have not much bougt. The management don't speak wiith her shareholders.We don't know nothing at all and yes we should follow the chart.

[starkd748]

Hope you got out. Always play the chart.... Technical analysis saves money

[starkd748]

I called it lmfao...Stoopid business model..

[Carjockey2]

We're you expecting this bankruptcy???

I'm assuming no seeing as you bought 2 days ago at .11 a few days ago.

PTRA changed to PTRAQ, bankruptcy. Delisted from the Nasdaq to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

[Carjockey2]

I haven't followed it myself just some of the posters but I highly doubt a bankruptcy was expected...lol

[Renee]

I haven't followed the stock. Was the BK anticipated?

[Carjockey2]

Thanks Renee..

Wowza

[Renee]

PTRA changed to PTRAQ, bankruptcy. Delisted from the Nasdaq to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

[TrendTrade2016]

lol

[DK11]

Good call on 5c