SAEXQ: SEC Obtains Final Judgment from Former Executive for His Role in $100 Million Accounting Fraud
Judgement: Jeffrey Hastings
Dismissal Order: Lori Hastings
Got it, thanks.
Look on the OTC Daily List
This should not be a surprise to anyone. SAE made it very clear in last week's 8-K that announced the Bankruptcy Court's confirmation of the Plan that all common shares were being cancelled.
"The Company’s existing (i) common stock, (ii) Series A Warrants, Series B Warrants, Series C Warrants, Series D Warrants, Series E Warrants and Series F Warrants to purchase common stock of the Company and (iii) right to receive additional Series A Warrants, Series B Warrants, Series C Warrants, Series D Warrants, Series E Warrants and Series F Warrants to purchase common stock of the Company (collectively, the “Company Interests”) will be extinguished, and holders of Company Interests will not receive or retain any distribution, property or other value on account of or consideration in respect of their Company Interests."
Cancelled? Could you post the link for it? Today is the last trading day? Thanks.
Stock has now been cancelled. Today will be the final day of trading before it disappears forever.
Looks like the actual bid/offer have now disappeared, so it is probably too late to bail out. Whoever bought the stock today has a 100% loss. That is difficult to do outside of a casino.
$100 million accounting fraud is quite outrageous. If convicted the perps deserve lengthy prison sentences and full disgorgement of illegal gains from the frauds.
I love these market makers. Saw this AH yesterday at $1.40. I didn't even look for the reason before grabbing 2k at $1.50. Then after I saw the reason, J was lucky to get 3k more at $1 43 avg. There's no hard and fast rules to this business. Just grab the opportunities. That move has netted $900 today!!!!
good short above $2
and shockingly TDA had shares
Why idiots don't get that moving from one exchange to another, OTC included, may be immaterial given the circumstances of each company. It is actually great for SAEX and TRNX...as they save all those costs for being in bigger exchanges. Only dumb heads like AIKI MMs can short on such news.
LMFAOO....more gain if you loaded at the $1.20s. Nice. It will still retest $3.50 and more. Heavy projects here.
SAEX 1.02 delisting notice
LMFAOO. Brought these fools here yesterday. They sold it AH st $1.90s. I loaded. See me now. Still $3 and beyond
That's a valuable experience you gain by playing SAEX over time. You learn that it pops about two or three months and goes parabolic. You must take profits as the dumb shorts always cover and start shorting again. So, you restart buying lower and lower and waiting.....lol
Earlier premarket some idiots were selling at $1.90s. I took out a bunch on those. Got $0.72 per share on those buys. The o that we are rejecting, became my cornerstone today!!!
It was great. Had to sell whatever I held above $2 for great gains. Buying back slowly now.....
"To put the deal in context, the company recorded revenue from services of $255.2 million in 2019, up from $98.7 million in 2018."
$27M contract 8-K out
The extended hour trading over compensated for the news, went up to around $4. I grabbed some initial shares around $3.70 AH and then a few this morning to average down. Hope it moves up more.
Okay I see how the company raise the Funds to pay $14 million in debt the company sold their Alaska slope sesimic library datasets to a third party. They've more capital. Plus a $42 million dollar work orders contracts to last 71 days.
What in the fuk is going on Flip. Don't a stock suppose to go up on amazing news on Open Bell, but instead SAEX tanked on opening bell. A $42 million dollar work order to last at least 71 days, and paid $14 million in debt. with only 4.3 million outstanding shares low float. Something is wrong SAEX should be trading over $5 a share today. I hope this is a scam.
SAExploration Shares Up 58% on West Africa Projects SAEX
6:08 AM ET 1/24/20 | Dow Jones
By Chris Wack
SAExploration Holdings Inc. (SAEX) shares rose 58% to $3.60 premarket Friday after the company said it was involved in two new projects in offshore West Africa.
The oilfield services company said the projects, valued at $42 million, are scheduled to occur primarily during the second quarter of 2020 and will last about 71 days.
Services to be provided will include 3D/4D data acquisition utilizing autonomous ROV-deployed nodal recording technology in water depths up to 1,700 meters.
SAExploration also said it recently sold certain Alaska North Slope seismic library datasets to a third party and used $14.5 million of the sale proceeds to reduce debt.
Write to Chris Wack at email@example.com
> Dow Jones Newswires
January 24, 2020 06:08 ET (11:08 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
$SAEX $3.20 on bid now, $3.26 Ask. Should be a fun opening this morning as folks chase it