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First time post on this board. Long time watcher. I think you may be missing the point of TMM posts. The more Tmm post go long and the more Kam post go short. Who needs fundamentals or technicals? :)
God bless everyone. Have a wonderful Thanksgiving!
Never mind. I read post #40581.
Sorry if this has already been posted. Just curious what leveraged etf you all are going to use after UWTI and DWTI are delisted on 12-9-16? Will you go to ULO and SLO?
http://www.prnewswire.com/news-releases/credit-suisse-ag-announces-its-intent-to-delist-and-suspend-further-issuances-of-its-dwti-and-uwti-etns-300364595.html
I heard the next GR Morris group meeting is in December. I do not know if they will announce it or if will they will actually have a meeting.
Good to hear from you PC. I did not know who was trying to force Ch. 7 bankruptcy. The denial by the judge is a good thing for the shareholders like you said. I wish you the best.
The company is over as I knew it. I lost over 90% of my investment and I take full responsibility. I hold no ill will toward anyone at STWS and wish them and their families the best. The company had a good idea and it did not work out. They were not a scam.
Thanks for posting sweet crude. I did not ever think I would post again after reading your denial of Ch 7. I thought that was the end and wondered why some people are still trading this stock.
Apparently the Ch 7 denial was to a hostile take over by a creditor and not the same group represented by GR Morris. The group represented by GR Morris are still alive and trying to reorganize under CH 11.
So there may still be some hope for you who own shares.
I no longer have any shares and my interest in STWS is only as a past share holder.
Blacksnake. I am not set up to answer private emails. To answer your question, I cannot recommend buying shares. There are many "if's" that have to be worked out for the company. But I am hanging onto some hope that I will be able to sell my shares with the new company.
Agree. It is fun to watch and speculate.
Hi MFJ.
I was not saying you said it was a scam.
Please look at post #3455. But it is not just one person's post there have been others who for some reason want to malign this company.
There was potential to make a lot of money with STWS and I could have if I had sold at its height but instead I lost a lot. But I know the company was trying and it was a risk that I was willing to take.
I wish all of us who invested could have done well.
Good reasonable sounding post.
In defense of STWS. This company was never a scam. It was a legitimate business. The plans to sell water may still work. With three owners from different companies they have a lot to offer in their respected fields of finance, water treatment, and pipeline.
There is reason to look ahead with some hope.
I always appreciate your open mindedness at seeking the truth good or bad. That is why I am surprised at this post.
Why and who would pay him to post?
Perhaps someone who has been through this situation before will chime in.
I wish I knew specifics of what to tell you. The first meeting was very upbeat and positive. The plans are to use their pipeline company and sell water from the Fort Stockton area to West Texas, Arizona, and California.
This meeting not as many share holders showed up and it was more business and attorney oriented. A lot of legal discussions.
You are welcome. I see this is your first post. Welcome to the board. There is not much news anymore. Everything apparently is going to be tied up in the courts for awhile.
I still stand by my original comments after the last meeting except for there will be three owners instead of four.
- Joshua Brooks is the third owner. He has a pipe line company with 50
something employees.
- Salttech and Crown Financial LLC other two owners.
- GR Morris is the man who is orchestrating everything.(He is
involved with BioTrack Diagnostics. Salttech and Biotrack both have
head quarters in Netherlands and offices in Texas).
- STWS offices are moving to Addison Texas.
- The hope is to have the courts approve their bankruptcy plans in 60
days. This is quick but the longer it takes the harder it is on the
new company. The courts will have to approve a lot of matters like IRS
debt., GE lawsuit, ect...
- New owners will own 60% of the company/shares and current share
holders 40%.
- GR Brooks states he has access to $100,000,000.00 for the right
project and he believes this is the right project.
- The next share holders meeting may be after the 60 days.
Everyone have a good weekend!
Good find!
Ha-ha! Congrats!
Where are we at?
Right now this company reminds me of a seed of wheat falling to the ground dying and turning into a new company that sprouts and developes a harvest.
SaltTech already has a water treatment facility in Fort Stockton. I think that would help in expansion of the new company.
Crown Financial LLC sounds like they would know how to come up with financing. And the other two creditors may bring something to the table.
One of the spoke persons at the meeting (I hear) said the new company will not be like an oil and gas company that can be hard ball in business dealings and with share holders.
The new business would operate like a utility company that has to build community relations and trust with share holders.
This sounds encouraging to me.
Just some random thoughts.
Someone may ask why would creditors pay current shareholders the purchase price of their stocks?
This is speculation but the creditors in this case want to keep the assets and to do that they need the share holders vote. They want the support of the share holders.
The alternative is to file regular ch 11 and share holders end up with nothing but the creditors also end up with no assets. All the assets in that case would be auctioned off to the highest bidder and funds distributed.
I followed up with an email to the city council. This was their reply:
There was not any action taken last night during the City Council Meeting concerning the water development with STWS and there was not anyone in attendance representing STWS. Have a good weekend!
Thank you MFJ.
Thank you for posting, I agree that is interesting and neat that you saw that.
They are filing a CH 11 section 363.
Crown financial and Salttech are two of the creditors that will own STWS. I do not know the name of the other two.
There once was a company with big plans and a bright future but unfortunately things did not work out. So 4 major creditors had a special meeting with the share holders. The share holders voted in favor of 25 out of 26 for the creditors to take over the company. They will file a type of Ch 11 that will allow them to run a new company similiar to a utility company. The goals are to transport water from Fort Stockton through their pipline company to West Texas, Arizona, and even California. One of the major players is Salt Tech. The new company is not going to forget about their share holders because they also loss money. Current share holders will be able to sell their stock at their original purchase price in hopes that some will stay on and invest in the new company and even maybe make a profit. A win win and everybody lived happily everafter.
The End!
So that is what I hear second hand. Take it or leave it.
Thanks MFJ, I am sure there are others who are worse off than I am. It just doesn't feel like it sometimes.
Thank you
ice_n_ak. I appreciate you!
If I told you how much money I have lost over the last 5 years on this company you wouldn't care what I know except to know to buy when I sell and sell when I buy. Then you would be a rich man. No one is going after someone for insider trading when they have lost half their retirement. Also I have never bought shares before any news has ever come out, if you read my posts you will see that I have bought shares all the way down to 16 cents from some 80 something cents. It would take 40 something cents for me to break even, worse than anyone on this board. My shares are not even worth selling at this price.
But I do know that STWS said a long time ago that this is the time they would be selling water on their new permits and that the moratorium that is on Capitain Reef ends in June. I said at the beginning of this year that 2016 will be the year for STWS and I still think it will be.
I also question your motives for being on this board in the first place, your reasons just don't make sense.
It wouldn't surprise me if your way past Greenland before the end of the week.
MFJ, I would think as long as I've been posting that you would have a good idea whether I own shares. I have been a continuous holder of shares and even bought more for I think 4 years now.
To say that West Texas has always been a desert does not solve the water problem. With population growth there has to be water provided or there will be no growth.
Can someone please show me some documentation that there is no water supply problem in West Texas. Good luck with that!
I am so glad nobody is thinking about water in Midland ;)
Watering Schedule
The current outdoor watering schedule allows residents and businesses in the City of Midland to water twice per week.
Even numbered addresses may water outdoors on Saturdays and Wednesdays.
Odd numbered addresses may water outdoors on Fridays and Tuesdays.
Any violation may result in a fine up to $500.
Watering Violations
If you see someone violating the Drought Contingency Plan, please report the incident by calling 432-685-7474 or reporting your concern online through the Citizen Request Tracker.
Midland is currently under Stage 2 (Moderate) Water Shortage Conditions:
http://www.midlandtexas.gov/401/Outdoor-Watering
I would hope the company would put out some information on MRK water lease in Pecos County. Should be some progress to report.