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Do they have a web site?
Do they have a web site?
where can i find a bankrupt site that shows status of court cases for q stocks?
Picked up some NXXIQ ... looks like it could bounce a tad
http://www.otcmarkets.com/stock/NXXIQ/company-info
The PR was dated 8-19-2011.
Nice ...how long have they had the Q?
WHAIQ Huh? On what do you base your profound pronouncement that they are "probably next multi bagger Q stock."
No web site, no assets, no news since 2008, and they were liquidated as part of a Chapter 7 action.
http://www.deb.uscourts.gov/Opinions/2007/WORLDHEALTHOPINION.pdf
The SEC were reports were fraudulent (according to the trustee and accepted as true for 12(b)(6) purposes), and huge amounts of liabilities went unreported. “The Trustee claims that these reports were false and misleading because World Health lacked adequate internal controls and was, therefore, unable to ascertain its true financial condition.” The company filed chapter 11 in 2006 and that was converted to chapter 7 the same year.
http://lawprofessors.typepad.com/bankruptcyprof_blog/2008/04/world-health-al.html
It's a miserable stinking turd. Where do you find this crap?
WHAIQ 0012 46m OS! no watch! probably next multi bagger Q stock
It's a Q. They just filed for bankruptcy. They were a 6.50 stock and not listed with Pinks Sheets before. They may or may not see any need to get current with Pink Sheets now, at least prior to their Plan of Reorganization getting worked out. Not a big deal.
New Q SDTHQ ShengdaTech (.085) Nano Precipitated Calcium Carbonate (NPCC)
NPCC refers to ultra-fine precipitated calcium carbonate with an average particle diameter of less than 100 nanometers that is used as an additive in various products. Because of its special physical and chemical properties, NPCC has been widely applied in the paint, paper, plastic and rubber industries.
We are targeting the fastest-growing area for NPCC, the tire and PVC building material market.
Website: http://www.shengdatechinc.com/c3029/default.html
Quote: http://www.quotemedia.com/results.php?qm_page=53091&qm_symbol=SDTHQ
ShengdaTech Files for Chapter 11 Reorganization to Facilitate Financial and Operational Restructuring and Announces Appointment of Chief Restructuring Officer
http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=44052434&topic=SDTHQ&symbology=null&cp=null&webmasterId=500
I will watch it for the inevitable bounce play...
Would someone here look @ DUNR? They are an oil & gas exploration & production company operating in shallow water GoM. The have some huge prospects, one of which was drilled earlier this year, but is still about 2 years from production. This discovery houses 133 million barrels, 26% goes to DUNR, or about $2 billion worth of reserves. It is common practice to down-play discoveries for a year or so in order for operators to claim the drilling cost on their taxes, and this is what is currently going on, though the well we be sidetracked, completed and will deliver huge revenue within 2 years.
Unfortunately, they own $300 million to Bond-Holders & this is due next summer. Alan Bell, the CEO from the EPL bankruptcy has been brought in to restructure the company...
I would appreciate someone's opinion who knows more about bankruptcies than I do... I know that it didn't work out well for EPL shareholders... Thanks
CPBRQ .008 up 60% - new filing out Sat.
http://finance.yahoo.com/q?s=cpbrq&ql=1
Something is underway here ...??
new Q pick coming out tomorrow 10 am
Hey Cork, seems to be a blood bath on QSGI today. Do you still have confidence in this stock?
JHTXQ commons to be wiped out...
Jackson-Hewitt Tax Service Supplemental Motion Filed
Jackson-Hewitt Tax Service filed with the U.S. Bankruptcy Court a supplemental motion requesting that if its Joint Prepackaged Plan of Reorganization dated May 24, 2011, is confirmed at the August 8, 2011 confirmation hearing, than the order confirming the Plan provide that the stay imposed by Rule 3020(e) of the Federal Rules of Bankruptcy Procedure be waived. The Company further requests that upon entry of a Plan confirmation order, the Plan become immediately become effective.
JHTX BANKRUPTCY
Jackson Hewitt Reaches Agreement With Lenders to Restructure Debt
Jackson Hewitt Tax Svc (QB) (USOTC:JHTX)
Today : Tuesday 24 May 2011
Jackson Hewitt Tax Service Inc. ("Jackson Hewitt") (OTCQB: JHTX), the nation's second largest tax preparation firm, today announced that it has reached a definitive agreement with its secured lenders on a restructuring plan that will significantly reduce the company's outstanding debt and interest expense, while putting the company on solid financial footing with an appropriate capital structure to support its business plan going forward. Jackson Hewitt expects the restructuring plan to be fully implemented in 45-60 days. During this period, Jackson Hewitt will have the liquidity and financial flexibility to operate in the normal course and begin preparations for the 2012 tax season. In connection with the restructuring plan and its implementation, Jackson Hewitt expects that no disruption will be experienced by its clients, franchisees or employees.
"This is a very important and positive day for Jackson Hewitt and its key constituents," stated Philip H. Sanford, president and chief executive officer of Jackson Hewitt. "Our clients, franchisees, employees and business partners can be confident in our future, as we take the steps to reduce our debt and interest expense, while significantly strengthening our balance sheet. The debt and interest rate burden we have carried in recent years has limited our potential and financial flexibility and, this will no longer be the case. With the solid support of our secured lenders, the debt restructuring we are implementing will position Jackson Hewitt with a strong balance sheet, a fully funded business plan and the ability to make investments that will better position us to compete and win in the market place going forward. The Jackson Hewitt brand is greatly strengthened by the actions we are taking today, and we can confidently begin our preparations for the 2012 tax season and beyond. Our only regret is that there is insufficient value for our equity holders and unsecured creditors to share."
"It is also important to note that the day-to-day operations of our business will not be affected by the implementation of our debt restructuring plan," continued Sanford. "We want to assure our clients, franchisees and employees that we are committed to strengthening Jackson Hewitt for the long term and to continuing to provide quality, accurate tax preparation services that meet the needs, and exceed the expectations, of our valued clients."
In order to implement the financial restructuring, Jackson Hewitt and its subsidiaries today filed voluntary petitions for reorganization under chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The Company also filed, with the petitions, a pre-packaged plan of reorganization that contains the terms of the restructuring agreed to with the company's lenders.
Since Jackson Hewitt has already received all of the necessary approvals from its secured lenders for the proposed Plan, it will request that the Court confirm the Plan on an expedited basis. In the interim, Jackson Hewitt's franchisees will experience no changes in their day-to-day business activity and Jackson Hewitt clients will have continual access to tax preparation services at Jackson Hewitt offices nationwide.
Under the terms of the proposed Plan, Jackson Hewitt's current secured lenders will receive their pro rata share of a new $100 million term loan and all of the equity in the reorganized enterprise. The Company also anticipates entering into a new $115 million revolving credit facility upon consummation of the Plan. It is anticipated that upon consummation of the proposed Plan, Jackson Hewitt's new equity will be privately held. Under the proposed Plan, all of the Company's existing common stock will be cancelled upon Jackson Hewitt's emergence from bankruptcy.
Moelis & Company is acting as financial advisor to Jackson Hewitt, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as Jackson Hewitt's counsel.
fernace the boards DD on QSGI is incomplete. and you should look at the yahoo boards for the past three years and see the group bashing has been wrong every step of the way. one has actually threatened me on a personal level. i know everything about them and i would be happy to fill you in on what kind of people they are.
I added some QSGIQ today. Looks like a good play IMO.
Thanks cytis. The way I see it, QSGIQ (.2289) is as good as it gets in Q land. Commons guaranteed, Q coming off July 8th.
Been a lot of shenanigans with this one, exacerbated by several delays in the process.
The good news is, with the commons guaranteed, there is a tangible limit to the downside.
No idea of the ultimate upside (of course!), however I like and see continued growth in the sector.
Best thing about it is, there won't be a lot of waiting since we are already at the end of the process. After the Q comes off, it will either fly right away or not.
If not, there will be some selling but it's consolidated for a long time now and appears to have a solid base of support.
Personally I think it's gonna see a nice bounce, but I can live with a slower pace too.
I needed a growth IT stock anyhow, so it works for me either way. Good luck to you too!
I trade on chart setups; 90% of the time pincher plays. this one has a real nice pinch forming and it looks like my buy indicator for this specific pinch play (type cataloged based on many technical indicators on my chart) is about to signal. jumped in on a starter position as that .07 level seems to get a lot of bites. bid sat for a long time to get the .07's filled. nite hooked me up. We'll see what tomorrow holds. if small drop again will double down if buy sign shows. if it starts to pop Ill just hold what I have. conversation on this one seems light - not seeing anyone recognize the drop the other day on bottom bouncer boards or other pincher boards; might have to drum up some visibility to the community lol! Ill hope for some speculation coming up to the auction and hearings later this month-
always a lot of upside, and downside on these Q plays- not familiar with QSGIQ. never had a good pincher setup to pop on my radar good luck with it though!
Not a lot of confidence in the Borders deal. As for the other ones, I haven't looked that closely.
If anybody (eg unsecured) is getting a haircut ahead of the commons, there isn't much hope for the commons as a rule.
It's the "speculation of alternatives" (very well put LoL!) that keeps the IHUB machine rolling.
There's always a chance for a good bounce (even in the absence of any good reason for it), if the IHUBbers get a hold of it but the marginals can create bagholders if a guy isn't careful.
FWIW, QSGIQ is the most solid Q out there right now, and should be about ready to bust loose.
been eyeing this one the past 2 days. what are your thoughts here? going to get a bounce on speculation? BLOAQ, TSTRQ both recently have had nice onces. wondering if there is anything materially different here. I believe both the others were stated "commons get nothing in this deal" but speculation of alternatives keep popping up and once that catches hold these guys tend to jump pretty good-
Borders Group Has $215.1 Million Offer From Najafi Unit to Buy Stores
By Tiffany Kary - Jul 1, 2011 9:03 AM PT
Borders Group Inc. (BGP), the bankrupt bookstore chain, agreed to sell its business to Najafi Cos.’ Direct Brands LLC, a direct marketer that owns Book-of-the-Month Club.
The deal, which still requires an auction to test for higher bids, would save Borders from liquidation, the bookstore said yesterday in court papers.
Najafi, a Phoenix, AZ-based private-investment firm, bid $215.1 million for Borders stores and would assume $220 million of liabilities. The deal also needs bankruptcy court approval, to be sought at a hearing July 21, after a July 19 auction.
“We are pleased to take another important step forward as we position Borders for a vibrant future and sustainable earnings growth,” Borders Group President Mike Edwards said in a statement.
Borders has a backup bid to liquidate all its assets from liquidators including Hilco Merchant Resources and Gordon Brothers Retail Partner LLC. It pursued a “dual-track process” so it can proceed with a sale to liquidators if it isn’t acquired as a going concern, according to earlier court filings.
If Najafi’s offer succeeds, “the debtors will continue in business as a retailer and thousands of jobs will be saved,” lawyers for Borders wrote in court pleadings.
Liquidators’ Bid
The liquidators offered to pay $252 million to $284 million, or about 72 percent of the cost value of the bookstore’s merchandise in an earlier round of bidding, Holly Felder Etlin said in court papers. Etlin, a managing director of Borders’ adviser AlixPartners LLP, noted that the liquidators bid didn’t include the $220 million in liabilities that would be included in the Najafi deal.
The Najafi offer will need to be enough to repay Borders’ bankruptcy operating loan, Etlin said.
When Borders filed for bankruptcy, it borrowed $505 million from lenders led by General Electric Co.’s GE Capital unit, saying it needed the money to cover expenses while it reorganized. On June 20, Borders reached a deal with its lenders on an amendment to that loan which cost it $1 million.
The company has said it seeks to complete a sale by July 29.
Borders, the second-largest U.S. book chain after Barnes & Noble Inc. (BKS), filed for bankruptcy in February, listing assets of $1.28 billion and liabilities totaling $1.29 billion. It recorded a loss of $479.9 million for the year ended Jan. 29 on sales of $1.67 billion
Out of Favor
Najafi bought Bertelsmann AG’s North American Direct Group division in 2008. Direct Brands operates such businesses such as Book-of-the-Month Club, Doubleday Book Clubs and Columbia House. Najafi makes investments “often in industries out of popular favor,” according to the statement.
Najafi bought the French Direct Group Business of CD and DVD clubs from Bertelsmann, Europe’s biggest media company, in May.
Borders’ agreement with Najafi includes $15 million to fund a windup of its Chapter 11 case, and a break-up fee for BB Brands, LLC, a subsidiary of Direct Brands LLC, if a higher offer is received.
Borders, based in Ann Arbor, Michigan, was founded 40 years ago as a single used-book store. The company, the second-largest book chain after Barnes & Noble Inc., had 642 stores in February when it filed for court protection. It closed 237, leaving 405 operating.
The case is In re Borders Group Inc., 11-10614, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
http://www.bloomberg.com/news/2011-07-01/borders-group-has-215-1-million-offer-from-najafi-unit-to-buy-stores.html
Also grabeed some TSTRQ ... looks like DISH is going to pick up the pieces here... not sure what happens to the commons but I grabbed a lottery position for the ride
Dish Network winning bidder for TerreStar TSTRQ NEWS!!!
By Joseph Checkler
Of DOW JONES DAILY BANKRUPTCY REVIEW
NEW YORK (Dow Jones)--TerreStar Networks Inc. has canceled its bankruptcy
court auction, as no competing bidders challenged Dish Network Corp.'s (DISH)
$1.375 million offer.
In court papers filed Tuesday, TerreStar said the auction, originally set for
Thursday, has been called off and that a hearing to consider the Dish bid will
be held next week as scheduled.
Last week, a judge said TerreStar could move forwarded with the auction,
with Dish set as the stalking-horse--or opening--bidder.
Other bidders had until Monday to submit offers for the satellite company,
but none emerged. A Dish spokesman didn't immediately respond to a request for
comment.
If an auction had taken place, Dish would have been entitled to a breakup
fee of $27.5 million plus $3 million in reimbursements. The minimum increase
for competing offers was $25 million, meaning that any qualified bidder would
have had to pay $55.5 million more for TerreStar than Dish would have.
The recovery for creditors under Dish's bid is much better than what they
would have received under a prior TerreStar plan.
TerreStar Networks, which is trying to build the first satellite smartphone,
filed for Chapter 11 protection in Manhattan last October with a plan calling
for secured noteholders, including EchoStar Corp. (SATS), to swap more than
$850 million in debt for nearly all the equity in a reorganized TerreStar. More
junior creditors, however, would have gotten just pennies on the dollar and
existing equity holders would have received nothing.
The Reston, Va., company scrapped that plan earlier this year in favor of
the auction, approved by Judge Sean H. Lane of the U.S. Bankruptcy Court in
Manhattan last month even though the company still didn't have an opening bid
at that point.
Dish, controlled by satellite mogul Charles Ergen, is also trying to buy
another company currently in bankruptcy court in New York, DBSD Corp. A hearing
on Dish's DBSD deal is set for Thursday.
Picked up some VMSYQ earlier in the week at .0014 ... looks good for sitting on and waiting for the day
VMSYQ soooo thin. up 75% ready to goooo.
**** EMDAQ 025 **** JUST A MONSTER
EMDAQ O25 run constantly under the Radar. Check it out.
http://www.barchart.com/cache/bf17ae8b78be5197dda8b5125d58db33.png
hahaha are you so sure of this lollzz. its funny how misinformed you are. would you like my help finding some direction on that stock?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64604883
you so sure about that <chuckles>
I am sitting and ready for when this Q takes off big.... Go VMSYQ
VMSYQ going to be one of the first Qs to go when the Qs are back in play!
EMDAQ 0063 600% up from the bottom with low vol. and accumulate very smart. next big up turn will come. keep an eye on it. potential for a multi bagger
Same here brwtrpilot. Been out for some time, but posted for those still following.
You are right. Some "good old boy" deals were definitely cut along the way. Shareholders like us were not invited to that party.