Riverstone (RSTN)

[ScovilleUnits]

What the ????

Take it back. BK-11???? Did all these millions of shares just buy into a BK?

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3943394

Item 1.03 Bankruptcy or Receivership.

On February 7, 2006, the Registrant and its domestic subsidiaries filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), Case Nos. 06-10110, 06-10111, 06-10112, 06-10113, and 06-10114. Each of Registrant and such subsidiaries remains in possession of its assets and properties and continues to operate its business as a “debtor-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court.

[ScovilleUnits]

Wow, Congrats to you Longs!

Looks like a double for some in two days? Been about a year since RSTN saw a $1 so looks to be profitable for many. Congrats.

[thealicemay]

Filed an NT-10Q on October 11th.

It contains the usual mumbo-jumbo. We've passed the one-year anniversary since Grant Thorton came on board.

What caught my eye was this sentence:"The Company currently intends to hold a conference call on November 1, 2005 to discuss its preliminary fiscal second quarter shipments and cash position and to provide an update on its business activities and audit status."

This is the first I've heard of this. I didn't notice a PR. Any thoughts?

TAM

[ScovilleUnits]

Oct 14th is the anniversary huh?

GLTY

[thealicemay]

Still Accumulating

It has now been 11 months since RSTN announced they’ve retained Grant Thornton to do their audit and reporting. I hope they aren’t paying by the hour.

I’ve picked-up another block today at 57 cents. I’m hoping they will announce earnings before the one-year anniversary (October 14th) of the GT announcement. Last PR on cash was $133M. With $66 million in debt this thing is trading near cash value. Assuming the share count hasn’t changed.

The growth numbers I’m seeing in recent PRs also intrigues me. I’m falling back on Jim Cramer’s mantra – “Growth is everything.”

When people ask me how much stock I have I give one of two answers: Not enough or too much. Right now it’s the later, would love to be complaining about not having enough.

TAM

[ScovilleUnits]

Will RSTN ever get current? How the HEdoubleLL can anyone know what cash they have, what earnings are, etc, etc!!!

[ScovilleUnits]

Darn,

I can't get picked up on the cheap. All-or-none's are difficult but I thought maybe high .50 then low .60 and now what? Back in the .70 tomorrow?

One site (Knobias) indicates possible earnings release tomorrow. RSTN Riverstone Networks Inc Q4 BMO $16.60M -0.10.

Does -.10 sound about right for the Q?

[ScovilleUnits]

Hey, thealicemay.

I'm thinking $4.00 is a bit to optimistic. Then again, given where RSTN has been perhaps $4.00 in two-years is "pretty quick"? At these current levels that would be a windfall return!

I was thinking more inline with no less than a buck come early 2006. Looks like I may have missed the bottom again...moving back up huh?

GLTY

[thealicemay]

Scovillez: Been accumulating

There's not much information to go by since they went to the pinks. The next big event that I’m waiting for is the financial reports from Grant Thornton. They have been on the job for 8 months.

From what public information there is, this may be a hidden gem. They've got lots of cash even after settling a lawsuit and buying back debt. The stock is trading close to cash value. They've settled most if not all of the big lawsuits. They seem to have fairly good products that people are buying. Then again, it could all be PR BS. Will have to wait for the audit.

If the audit does come and the news is good I could see this stock going to $4 pretty quick.

TAM

[ScovilleUnits]

Helloooo Toooo.

Thoughts on Riverstone longterm? Will they make it?

Did a little looking about and seems the prior all time low was .50 back in Oct 2002. Well, hit .48 intraday but for conversations sake thinking .50 would be OK...not thinking many shares got picked up under .50 back then.

Let's open this board back up....I need to know?

[spockster202]

Helllllllooooooooooooooooooooooooooooo! lol

Anyone sending in their Proof of Claim and Release on the class action?

Link to the Yahoo RSTN board has infO - fwiw

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=1603257707&tid=rstn&sid=...

GL
Spockster

[chuckerfmfla]

Correct. I should have typed The Bulletin Board.
Chucker

[gitimancip]

It's a pink sheet, it'll be otcBB before going to Nasdaq.

[chuckerfmfla]

Riverstone board started to have a location for intelligent discussion of the Company, it's products and the future of the Company and the PPS. We all await the Company filing corrected reports re sales and earnings in order to get off the pink sheets and back to the Nasdaq
The agreement with Lucent and the contract with Telefonica of Spain will certainly add to future sales, and hopefully net profit.
Chucker