Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Eh, maybe a new IPO someday... If I get the IBOX, I'll post the 8k info. Thanks for catching that.
What really sucks is that the price was right too...
Eh, always more Qs out there...lol. Especially nowadays.
Same here, I saw you post that PR and I got really excited, but only to find out its not going to help shares :/
Thanks for the heads up... was hoping for a Q-pop...
Ah well.
Ah well.
Read the 8k excerpt i Just posted...worthless common shares
No one buys Q stocks they are worthless.
Pursuant to the Plan, all outstanding equity interests of the Company, including but not
limited to all outstanding shares of common stock, par value $0.01 per share (the “Existing
Common Stock”), and all outstanding shares of preferred stock, par value $0.01 per share (the
“Existing Preferred Stock”), options and contractual or other rights to acquire any equity
interests, will be cancelled and extinguished on the Effective Date. As of the date hereof, there
were 6,979,887 shares of Existing Common Stock outstanding and 54,479 shares of Existing
Preferred Stock outstanding.
Jennifer Convertibles Emerges from Chapter 11 Bankruptcy
WOODBURY, N.Y., Feb. 23, 2011 /PRNewswire via COMTEX/ -- Jennifer Convertibles,
Inc. ("Jennifer Convertibles") announced today that it has successfully emerged
from a Chapter 11 reorganization process.
"This is an important day for Jennifer Convertibles. We are emerging as what we
believe to be a stronger organization that will better satisfy its customers,
suppliers and employees," said Rami Abada, President of Jennifer Convertibles.
"We have worked diligently to maximize recovery for our creditors, while
maintaining our focus on our core business of delivering quality home furnishings
to our customers. We are excited, as we believe we are poised to provide our
customers with some of the best values in the home furnishings industry. We are
confident that our superior supply chain will not only provide our customers with
great value but also great style and quality."
Jennifer Convertibles' principal supplier and creditor, Haining Mengnu Group Co.,
Ltd. ("Mengnu Group"), received approximately 90% of Jennifer Convertibles' new
equity securities with the remainder of the new equity securities to be
distributed amongst certain of Jennifer Convertibles' former creditors. The
former equity interests have been cancelled.
Jennifer Convertibles' new management team will be led by Chief Executive
Officer, Gebing (Morris) Zou, and President, Rami Abada.
About Jennifer Convertibles
Jennifer Convertibles is the owner of the largest group of sofabed specialty
retail stores in the United States, with 64 Jennifer Convertibles(R) stores and
is the largest specialty retailer of leather furniture with eight Jennifer
Leather stores. Currently, Jennifer Convertibles owns 72 stores and operates six
licensed Ashley Furniture HomeStores. For more information about Jennifer, please
visit Jennifer Convertibles' website at http://www.jenniferfurniture.com. For
investors, please also visit the "Investors" section of Jennifer Convertibles'
website at http://investors.jenniferfurniture.com.
Forward-Looking Statements
Statements in this press release other than the statements of historical fact are
"forward-looking statements." Such statements are subject to certain risks and
uncertainties, including changes in retail demand, vendor performance and other
risk factors identified from time to time in Jennifer's filings with the
Securities and Exchange Commission that could cause actual results to differ
materially from any forward-looking statements. These forward-looking statements
represent Jennifer's judgment as of the date of the release. Jennifer disclaims,
however, any interest or obligations to update these forward-looking statements.
SOURCE Jennifer Convertibles, Inc.
Copyright (C) 2011 PR Newswire. All rights reserved
It's emerging from 11 -- so, likely a new symbol or the brokers are doing something. ETMM is giving me static too.
Can't buy, why is that? Symbol invalid?
Jennifer Convertibles Emerges From Chapter 11 Bankruptcy
Last Update: 2/23/2011 3:12:30 PM
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
February 23, 2011 15:12 ET (20:12 GMT)
Not sure, but it doesn't really matter this one is not trading anymore.
Thanks
Do you not know what PACER docs are?
Wow it must have been an omen that I did not listen to...up 233% today! I should have paid attention to "the sign". Holy moly!
I thought about this stock today as I saw an Ashley Furniture truck pull out of a parking lot.
Looks like it's pretty dead.
General Growth did NOT say shares would be cancelled, in fact they implied from the start (and Bill Ackman backed it up by buying) that common would not be cancelled.
that volume sure looks as if jennq is dead
jmo
Not really sure, it trades about 10-20k shares each day and no news.
Just keep watching imo.
Oh I "get it" the point was...it "could" be a good momo play. Stock won't get cancelled until the 25th IF the court approves their plan. So, if there's momo and chdn is short...why not TRADE it? I didn't say "invest" or fall in love with it. Just looked like a good trade and hey, guess what, it was. I made money while you watched. Nothing wrong with trading it on momo...
Oh that's right...these days, it's a freaking CRIME to make money isn't it...silly me
Oh, thought is was more recent than last Tuesdays 10Q info.
Wow if you just got a e-mail they are not really too quick in the info dept.
Thanks.
no clue....its in the 10-Q
What will be the date ???
And is there going to be a SEC filing or just e-mails which seems a slight bit odd.
just got an email from IR...equity is being cancelled
With a few ask slaps,she'll run right back up. IMO
here ya go, ya pumping lying butt-head...my email from investor relations:
"In response to your email of January 12, 2011 please review the following:
As described in the Company’s most recent Form 10-Q, on November 19, 2010, the Company filed a plan of reorganization and accompanying disclosure statement with the Bankruptcy Court, which are subject to the Bankruptcy Court’s approval. On December 21, 2010, the Bankruptcy Court approved the disclosure statement and set a hearing date of January 25, 2011 for confirmation of the plan of reorganization, which is subject to the Bankruptcy Court’s approval. Upon consummation of the presently contemplated plan of reorganization agreed to with the Company’s principal supplier, which is also the Company’s principal creditor, such supplier will (i) own 90.1% of the Company’s new equity securities; (ii) receive a $2,638, two-year secured note at 4% interest per annum; and (iii) receive a $1,879, four-year unsecured note at 6% interest per annum. In addition, such supplier has agreed, subject to certain conditions, to continue supplying merchandise throughout the Chapter 11 proceedings. The remaining 9.9% of the new equity securities is to be owned by other general unsecured creditors. In addition, the general unsecured creditors will receive (i) a $1,400, one-year secured note at 3% interest per annum; and (ii) a $950, three-year secured note at 5% interest per annum. In exchange for the new equity interests and notes to be issued, certain claims from both the principal supplier and the other general unsecured creditors will be extinguished. The present equity interests will be cancelled. "
I don't see anywhere in PACER that the common stocks won't be cancelled should this Plan be confirmed. I may have missed it but I don't think so.
Page 24 of PACER Doc # 339
Dated Nov. 19, 2010
Class 5- Existing Common Stock Interests
A. Treatment. The holders of Existing Common Stock Interests in the Debtors will not recieve or retain any interest in the Debtors, the Reorganized Debtors, the Estates or any other property or interest in the property of the Debtors or Reorganzied Debtors on account of such Exisitng Common Stock Interests in the Debtors, and will not be entitled to any Distribution under the Plan on the Account of the Existing Common Stock Interests.
B. Voting. In accordance with section 1126(g) of the Bankruptcy Code, the holders of Existing Common Stock Interests are conclusively presumed to reject the Plan and are not entitled to vote to accept or reject the Plan.
Section 6.06 Cancellation of Existing Securities and Agreements On the Effective Date, the Interests in Jennifer Convertibles, Inc. shall be deemed, and shall be, cancelled and shall be of no further force and effect, whether surrendered for cancellation or otherwise.
The same is true in the Amended Plan, under Section 4, dated Dec.21, 2010 Pacer Doc # 399
The same is true for any pref'd shares.
Could make it dive huge time as well..depends on the outcome just like all "Q" stocks.
i would highly recommend investing in BLOAQ/BLOBQ...particularly the B shares..as they are priced lower and stand to give you a higher percentage gain. blockbuster looks like it will see a similar run as WAMUQ, as the BK judge is going to rule next week on an equity committee for common shareholders. could make it spike big time.
Thanks for all who posted about the common stock. I believe this company will overcome bk, but at whose expense is the question.
I took the WAMUQ fall which was almost exactly along these lines. It was a looooooooong fall down and I promised myself, never again!
I still will consider getting in next week, but proceed with caution. I will say nice green price for a Friday. A good amount of traders must believe in this stock...otherwise there would be a big sell-off party here.
any chance the news today helps or hurts this stock?
My dear man, you can keep on ranting and raving but why dont you do what you feel is best and let the rest of us do what we feel is best so than both parties feel comfortable and contented.
didn't General Growth say when they filed BK shares will be canceled? But now they're $15+
Didn't wamuq say the same thing? However, that's still trading
Give me a break, this is a lot more complex than what a 10q says!!!!
And as far as the email being fake, email them and ask. I guarantee they don't deny sending me the email, as I have the actual email and have forwarded it to a lot of different people so far.
enjoy janice bell!
i also emailed them
no response
have tried calling too
no response either
certainly looks bad
jmo
it's a total fake. come on. i called him out on it yesterday. pathetic pumping at its worst. then he had the gall to call me a "basher". sheesh.
yeah. how did today work out for ya man? by the way, i emailed them, and have yet to get a response. funny how you got one so quickly. will keep you posted.
Hello? Have you read the Q?
The commons are being cancelled.
overall, this will be 10x times its current price by the 25th!!!
commons aren't getting canceled. Email the company and stop looking like idiots!!! Yeah, i faked an email. With my name as my screen name, with my email, and everything. Such a big risk I am taking
use your heads people. Email the company for yourself!!!
I didn't fake anything. I am buying all the shares possible I can get. So keep selling and i will keep buying
see you on the 25th!!!
that's a fantastic question...
"...who would buy stock that will soon be cancelled?"
Just sniffin around ,,hmmmm. Hi Jancie.
Spent 20 years in the home furnishings industry. Once they fall they fall hard. One of our competitors in DC was thought to be well banked. LMAO.. They went splurt burp poof.
Bottom line here is shareholders a toast. This is a flipper and nothing more.. I do feel for anyone who held to the bottom from the good ole days. It's over. Anyway,,,anyone got a light?
yep, thats the way I read it, no doubts, no room for speculation.
Followers
|
5
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
223
|
Created
|
01/12/11
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |