Raser Technologies Inc. (fka RZTQE)

[stylex022]

As of now folks Rzti stock will be eliminated :-/


http://www.rasertech.com/news/featured-homepage-story/raser-technologies-plan-of-reorganization

I'm on my phone so I dont know if the link works or not...definitely give it a look though.

[stylex022]

Hey Ray good to hear from ya. As unfortunate as a bankruptcy is, ch. 11 does not constitute a total loss. One way to look at is if the company basically called mulligan...they essentially get a redo at building the business. Of course this is under close supervision of a judge and the SEC. Someone please correct me if Im wrong but they even have to file a monthly 8-K. Don't get me wrong the shares we still hold may be worthless in the end, but that will be more clear as they come out with a POR and come closer to the end...which could be a while......

[X Ray]

I have a question ...how can you invest in a company that goes chapter 11 and make money ???? is it not inevitable that the company becomes worthless ...please help me out...why are people still buying the stock....sorry never been through this before... thanks

Sold at .037 today ....so sad!!!!!

[stylex022]

Good ? Fili, ill shoot an email to issa later today and post his reply when I hear back.

[fili22]

"The Plan Support Agreement contemplates resolution of substantially all existing secured and unsecured debt of the Company and $8.75 million of new debtor-in-possession financing to fund the Company's working capital needs during the pendency of the Chapter 11 process and elimination of all equity interests, including common stock, options, and warrants."

Does this mean the elimination of all equity interests (common stock, options and warrants) WILL definitely happen or does this mean there will be $8.75 million of new debtor-in-possession financing to fund the Company's working capital needs during the PENDING elimination of of the afore mentioned?

[sgtshot]

they might, they might not. No telling at this point, but I still believe in their technology, and I believe they are going to emerge from BK, eventually.

They could completely wipe out the common stock and I would be out, or they could restructure the debt and emerge stronger than ever.

I have said all along, I am only investing in this company (and others like them) because I have a strong belief in the future of green technology. I believe geothermal is the most under estimated of the technologies out there.

I would be much more critical if they had no assets, but they do have assets, they are still making money, they are still developing resources. In my eyes, that spells a company that is struggling with financing, in a nightmarish credit crunch.

BK is very common today, even for well established businesses, if they apply it correctly, they will emerge and those of us that stuck around will be rewarded, if they do not apply it correctly, or can't restructure it properly...those of us stuck around lose.

"It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself for a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." Theodore Roosevelt

I for one, want to be in the Arena

[david2234]

I am right there with you. I sold at the bell for a 84% total loss. You live and you learn (if I had read the righting on the wall I would have gotten out a month ago).

[diannedawn]

what makes you think they won't wipe out the common shares?

[HOLD4STEAK]

I don't know about rest of you, but I'm in too deep to bail now..In for the long haul now...GLTA

[jeffn]

put me in coach!

[CopperKen]

Okay, I'm out. Glad to take 20 cents on the dollar. I have no stomach for another BK. Sarge, Style & gang, see you in greener pastures.
Ken

[panglozz]

The Creditor list
Merrill Lynch -- 22.6M
Linden Capital -- 21M
Aristeia Capital -- not stated
Lazard -- 6.7 m
Pratt and Witney -- 4.9 m disputed
Tenor Capital -- 4.7 m
Evergreen -- 2.4 m (1/2 residual Higginson loan)
Beaver County Utah -- 1.07m property tax
Utah State Use Tax -- 588k disputed
Bombay Investments (Mark Samson)-- 436k ( part of loan)
Evolution Markets -- 421k "green stock" Consulting
Cummings and Barnard --212k Engineering Consulting Disputed
Stoel Rives 159k -- legal
Rocky Mountain Power -- 133K (Electricity)
Bonneville Power -- 127K Power wheeling disputed
Nick Goodman --97k employee wages?
US Department of Interior 84k Lease fees
Hamilton Environmental -- 58k
John Perry - 58k wages?
Airgas 52k (refrigerant)
RR Donnelley -51K (financial printing)
NYSE -- 47K stock listing
Tim Bridgewater -- 46k Lobbying DC
Quantec Geoscience -- 43K
Earth Touch 39k (environmental consulting)
Gardner Brothers Drilling 33k
Edward Kerr -- 31k (LD rancher) disputed
Geo Hills -- 31k disputed
SWCA Environmental 27k
Reynold Roeder -24K (Board fees)

[panglozz]

BK Petition

http://www.scribd.com/doc/54247683/Gov-uscourts-deb-137151-1-0

Goodman Declaration
http://www.scribd.com/doc/54251171

DIP Motion
http://www.scribd.com/doc/54250347

[stylex022]

Haha I was just reading that. Thanks panglozz

[stylex022]

Sgt I agree, Raser does has a product...and Via has been going full throttle promoting the truck. Its tough being on the short end of the stick. My biggest concern is post BK...with the debt they have will we end up with nothing?? BTW The judge is Kevin J Carey...Im going to call the counsel and ask em a few questions

[panglozz]

Docket Report
[I will provide links to some of these filings in a future post]
04/29/2011 1 Chapter 11 Voluntary Petition of Raser Technologies, Inc.. Fee Amount $1039. Filed by Raser Technologies, Inc.

04/29/2011 Judge Kevin J. Carey added to case (BA)

04/29/2011 2 Receipt of filing fee for Voluntary Petition (Chapter 11)(11-11315) [misc,volp11a] (1039.00). Receipt Number 5231253, amount $1039.00.

04/29/2011 3 Service List /Amended Consolidated List of Creditors Holding 30 Largest Unsecured Claims Raser Technologies, Inc., et al.. Filed by Columbia Renewable Power, LLC, Cricket Geothermal No. 1 MI-01, LLC, Devil's Canyon Geothermal No. 1 SV-03, LLC, Harmony Geothermal No. 1 IR-01, LLC, Intermountain Renewable Power, LLC, Klamath Geothermal No. 1 KL-01, LLC, Lightning Dock Geothermal HI-01, LLC, Los Lobos Renewable Power, LLC, Pacific Renewable Power, LLC, RT Patent Company, Inc., Raser Power Systems, LLC, Raser Technologies Operating Company, Inc., Raser Technologies, Inc., Thermo No. 1 BE-01, LLC, Thermo No. 2 BE-02, LLC, Thermo No. 3 BE-03, LLC, Trail Canyon Geothermal No. 1 SV-02, LLC, Truckee Geothermal No. 1 SV-01, LLC, Truckee Geothermal No. 2 SV-04, LLC, Western Renewable Power, LLC.

04/29/2011 4 Motion for Joint Administration of Cases Pursuant to Federal Rule of Bankruptcy Procedure 1015(b) Filed By Raser Technologies, Inc.

04/29/2011 5 Declaration in Support /Declaration of Nicholas Goodman in Support of Chapter 11 Petitions and Related Motions Filed by Raser Technologies, Inc.

04/29/2011 6 Application to Appoint Claims/Noticing Agent Filed By Raser Technologies, Inc.

04/29/2011 7 Motion to Pay Employee Wages (II) Authorizing Debtors to Continue Employee Benefit Programs in the Ordinary Course of Business; and (III) Directing all Banks to Honor Prepetition Checks for Payment of Prepetition Wage, Salary and Benefit Obligations Filed By Raser Technologies, Inc.

04/29/2011 8 Motion to Maintain Bank Accounts (II) Authorizing Continued Use of Existing Cash Management System; (III) According Administrative Expense Status for Intercompany Claims, (IV) Authorizing Continued Use of Existing Checks and Business Forms; (V) Authorizing Closure of Unnecessary Bank Accounts; and (VI) Waiving the Requirements of Section 345(b) of the Bankruptcy Code Filed By Raser Technologies, Inc.

04/29/2011 9 Motion to Approve Debtor In Possession Financing Filed By Raser Technologies, Inc. (Attachments: # 1 Exhibit A# 2 Exhibit B# 3 Exhibit C)

04/29/2011 10 Motion for Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses of Professionals Filed by Raser Technologies, Inc.

04/29/2011 11 Motion Prohibiting Utilities from Discontinuing Service to, or Discriminating Against, the Debtors on Account of Prepetition Invoices; and (II) Determining that the Utilities are Adequately Assured of Post-Petition Payment Filed By Raser Technologies, Inc.

[sgtshot]

I am going to wait until this thing bottoms out then load up more shares.

Chapter 11 is a restructuring, it is not the greatest of news, so the stock price will fall, and it will take some time to regroup.

We have to watch for the completion of the BK, and make sure they don't wipe out all the stocks, but after that it should be a good time to buy.

This is another example of a great company taking it in the shorts, over crappy financial situations.

We are still generating revenue, still developing resources, and still 39% shareholders in VIA.

I will wait for this to hit a penny, or maybe subpenny, then load up some more.

I have siad over and over, I am in this for the long haul, I will be holding onto my shares (not much else I can do with them), and slowly adding a bunch more.

RZ has a future, VIA has a future, just don't expect anything stellar until after the BK

[stylex022]

I wonder if we'll get an ESHC formed? Who the judge will be? and the ultimate ?...add more shares??

[stylex022]

still looks like RZTI...

[CopperKen]

Anyone know if this will be traded as RZTIQ today? or is it still RZTI?

[CopperKen]

Dianne, looks like you take the final round. Good luck to all in future ventures.
Ken

[diannedawn]

Thanks for the warning Dianne, but I am comfortable with investing with these guys.

Still "comfortable"?
I'm really sorry to have been right on this one,
as a friend of mine also was a big believer in RZ
and has lost quite a few $$$.
I've lost money here too, but at least I got out before THIS!

Best of Luck to you all

[gdust]

Looks like RZ saw this coming and hid
39% of their assets in Via Motors, then wiped out the rest. Where do i sign up for the lawsuits.

8gdust

[sleep]

How can a green company with $4 gas...a 30M Gov grant...a relationship with Hyundai and a 100mpg Electric Engine go broke?
This is a perfect example of a company miss managed and shareholders ending up holding the bag!

[ChuckD-MSB]

I have traded quite a few "Q" stocks over the years, I think this one will drop sub-penny pretty quickly. The initial drop is often the steepest, then a bounce back and then trickle back down over the next week. I feel bad for all you guys who are holding, but there will be some great trading upcoming.

[daniela10]

we should see a big bk bounce when the price drops to a cent cent and a half. count me a buyer down there!!

[CopperKen]

Sorry Mike,
No, I can't top that. I wish you good luck in the future.
Ken

[rtgo14]

I would expect class actions to begin very soon possibly let by KH. Attorneys will be feeding on the carcus.

[Mike51]

Well there goes over 600k. Ouch. Anyone care to top that. glad I dropped majority of monies in fkinx at the end of 08. Means i broke even with dividends and gains. Moral of the story. dont invest money your not prepared to lose. i had dreams of this one hittin big. to ****en bad. NEXT

[CopperKen]

Pretty much GAME OVER for us. CPRKQ may come out of BK with SHs in good shape, but that has been a long road of organizing SHs and hours of volunteer time by some very dedicated individuals. CPRKQ also has assets that exceed debt. RZTI looks to be in sad shape.

Time to move on, I think.

[stylex022]

This will be interesting. It makes sense why we saw a 100k share purchase the other day...when the stock is diluted they'll still have a decent amount. Heres a clip about stock holders and Ch.11

During Chapter 11 bankruptcy, the U.S. Trustee, the bankruptcy arm of the Justice Department, will appoint one or more committees to represent the interests of creditors and stockholders. The committee works with the company to develop a plan of reorganization to get out of debt. The plan must be accepted by the creditors, bondholders, and stockholders, and confirmed by the court. Once the plan is confirmed, a more detailed report must be filed with the SEC on Form 8-K.

The trustee may ask stockholders to send back the company's stock in exchange for new shares in the reorganized company. These new shares may be fewer in number and worth less. Stockholders will also stop receiving dividends. Under Chapter 11 reorganization, the company will explain investors' rights and what investors can expect to receive, if anything, from the company.

[jeffn]

if i read the pr right, it appears they want to eliminate common stock.

[CopperKen]

Someone apparently thinks we are bottoming & bought 100K shares. After tomorrow we enter Issa's possible announcement dates for restructure.

[CopperKen]

Thanks Stylex for keeping us updated on VIA. Does not sound like the efforts of a company on the road to BK. I think the market has way overcompensated for dilution and other factors in a restructure.

[stylex022]

via note worthies:

-Texas Show April 8, 2011
VIA sets up for Texas Show launching Freedom EV Charging Network.
Texas Governor Rick Perry Tours VIA Motors extended range electric fleet truck after his speech at NRG's Launch.

-Jacksonville, Florida Demo Drive 2011
North Florida TPO and Clean Cities hosted a demonstration event today with the City of Jacksonville and the JEA, Electric Authority. Kay Worley, Director Environmental Programs, and National Chair for Clean Cities and Marci Larson, with the North Florida, organized the event. City and utility fleet leaders and other area leaders attended to see and test drive the remarkable VTRUX electric fleet truck.

-VIA Motors V-TRUX featured at EDTA (Electric Drive Transportation Assoc.) conference in Washington D.C. during a press conference with United States Secretary of Energy, Dr. Steven Chu.

-Via Motors meets for discussions with the United States Department of Transportation in Washington D.C.

-Demonstration drive of the V-Trux electric truck at New York City Hall and the New York Power Authority.

-Earth Day celebration in Times Square, New York City, with the electric V-Trux on Display. Go green!

Pictures and more articles on Via's facebook page. Check it out!
www.facebook.com/ViaMotors

[stylex022]

thats a good point...I was reallly hoping to get some in the .04s I think I had my order in a bit too low :/

[CopperKen]

I'm thinking next week. IRs often build-in an extra week for safety. I bought today under .06 and will pick up an .05 if I can get it by Fri EOD.

[stylex022]

post 2278:

From Issa:
Ken,

I anticipate an announcement in 2-3 weeks. That could change but that is my best estimate at this point.


Regards,
Issa


Sooner would be better!

[rtgo14]

I would still expect an announcement this week. IMO we are not looking @ BK. I feel there has been to much activity by to many parities to let RZ fold.

We will see.

[stylex022]

Yes I think we're all hoping, praying, wishing, that Raser comes out alive on the other end. My limit order is locked and loaded for .0300...I'm curious if it will get filled??

[HOLD4STEAK]

I'm praying this is bottom of the bucket...I'm trying to free up some more money now just incase it's not down..If i downaverage again,that will be last time...Prayin hard...

[stylex022]

If I could "like" your post I would...I think we're all waiting for that update:)

[HOLD4STEAK]

As low as this is, i cant pass it up...Sometimes you have to take chances to hit the biggest ones..Am anxious for an update rz

[HOLD4STEAK]

I'm with you...i been with raser for a long time..When it hit .14, I stared thinking buy, then at .08 i down avge, yesterday buy .058 another 40000...RZTI has been my #1 hopeful..We will smile when it runs again..

[coldcash]

wowwww - just checkin in here , ouch * man am I glad I sold this one ................
just brutal...

[Mike51]

Is that restructure you mentioned the same as Bankruptcy restructure? I've watched this one for a couple years now. Sad to say i've dumped a lot of money in this to. Which has been almost completely wiped out now. All thats left is to sell to confirm my huge loss. Or wait for the BK eraser. Amazing how you can keep such hope CopperKen. But i cant help but feel like were beating a dead horse here :)

[CopperKen]

I agree, but will continue for the 3 weeks that Issa estimates for a restructure announcement.

[david2234]

I am tired of averaging down with Raser. I would like to see this start to go in the other direction.

[CopperKen]

Wow, 5000 shares for just over $300. I picked up another 7000 shares at .062.

[CopperKen]

I'd have to think that all or most of the dilution from Fletcher is already priced in. We shall see.