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A big thanks to Chuck, Scott, Lee, Frank, and the rest for making this happen. You're doing what most of us don't have the time, energy, patience, (or intelligence) to do.
Now that the company is ours, lets get rid of that Caveat Emptor sign.
If anyone cares...
Date Short Volume Short Exempt Volume Total Volume
03/01/11 2,590,500 0 5,007,242
03/02/11 3,430,777 0 7,147,306
03/03/11 2,695,900 0 10,006,149
03/04/11 301,000 0 720,800
03/07/11 1,361,100 0 2,760,400
03/08/11 5,096,897 0 6,750,497
03/09/11 4,886,225 0 5,873,525
03/10/11 1,392,720 0 2,723,497
03/11/11 1,204,600 0 2,678,100
03/14/11 506,000 0 1,737,700
03/15/11 5,133,457 0 8,115,015
03/16/11 2,521,571 0 4,893,563
03/17/11 440,589 0 1,536,749
03/18/11 199,998 0 479,410
03/21/11 1,379,332 0 2,040,332
03/22/11 2,713,082 0 4,140,577
03/23/11 1,779,600 0 2,792,600
03/24/11 654,000 0 2,161,300
03/25/11 401,000 0 2,502,000
03/28/11 544,000 0 769,700
03/29/11 2,906,856 0 4,369,283
03/30/11 104,500 0 841,550
03/31/11 165,000 0 392,833
Because Darrell Nether is in no way associated with CPRK/WUCC. We needed to go public. We reverse merged into a shell company named IBC to do so, and then we told the scammers involved in IBC to take a hike. We did this because it is far more economical to RM into an existing public company than to take a private company public. Unfortunately, it has the side effect of creating a lot of misconceptions about the nature of the company.
If CPRKQ loses it's Q, and if the shareholders are not wiped out, then we are in control. I for one won't be voting against my best interests, and I bet no one else involved in the CPRKSA will either.
In order for your R/S scenario to happen, CPRKQ has to come out of bankruptcy. In order for CPRKQ to come out of bankruptcy, they need to have a POR approved by the judge, and financing to commence operations. If they have financing to commence operations, then they do not need to raise additional funds by selling shares. A reverse split could be used to shrink the share structure to a more reasonable number than 6 billion, but the amount a shareholder holds will not change (ie: 25 shares @ $1 per share = 1 share @ $25 per share). If you're asserting that they will dilute again after a R/S, I see that as highly unlikely. One, we've already determined that the company has the necessary funding by being allowed out of bankruptcy. Two, the shareholders posses a majority of the shares, and would more than likely vote down any attempt to dilute their holdings more.
Well... it's information... I'm not exactly sure how to use it, but it's information.
That was me. When we went bankrupt and the volume dropped significantly, it didn't really seem worth reporting anymore... at least not on a daily basis.
Date Short Volume Short Exempt Volume Total Volume
03/02/11 3,430,777 0 7,147,306
03/03/11 2,695,900 0 10,006,149
03/04/11 301,000 0 720,800
03/07/11 1,361,100 0 2,760,400
03/08/11 5,096,897 0 6,750,497
If by proper management you mean putting some of the members of the ESHC on the BOD, then yes, I definitely agree.
I was excited about the car show last year. It's a shame that our shareholders meeting didn't pan out.
Not that I'm keeping track or anything ridiculous like that... :)
From http://regsho.finra.org/regsho-Index.html
The Short Exempt Volume seems to have showed up in the file today, despite what they state here: http://regsho.finra.org/DailyShortSaleVolumeFileLayout.pdf
Date Short Volume Short Exempt Volume Total Volume
02/01/10 9,739,170 20,549,542
02/02/10 5,355,233 7,289,605
02/03/10 2,836,244 12,816,314
02/04/10 4,995,349 11,291,748
02/05/10 3,319,840 10,131,998
02/08/10 11,434,265 21,220,886
02/09/10 5,057,461 13,117,450
02/10/10 5,218,223 7,701,155
02/11/10 7,885,204 11,076,827
02/12/10 17,039,736 32,419,035
02/16/10 27,499,775 58,786,217
02/17/10 23,172,601 35,872,524
02/18/10 12,485,826 27,203,302
02/19/10 13,569,935 34,304,025
02/22/10 4,778,000 5,711,944
02/23/10 11,762,834 17,645,757
02/24/10 32,112,721 67,798,494
02/25/10 14,136,945 28,237,439
02/26/10 23,819,900 38,878,000
03/01/10 45,707,788 86,871,291
03/02/10 29,067,411 45,404,333
03/03/10 15,307,178 25,237,422
03/04/10 47,003,965 70,885,069
03/05/10 46,653,637 89,538,537
03/08/10 24,868,246 69,528,751
03/09/10 21,888,576 48,823,741
03/10/10 23,519,185 36,630,884
03/11/10 26,690,673 46,275,988
03/12/10 29,003,261 49,737,613
03/15/10 13,853,124 25,647,486
03/16/10 16,914,545 30,691,561
03/17/10 26,057,061 37,191,834
03/18/10 18,266,271 25,733,108
03/19/10 36,839,135 75,638,482
03/22/10 43,218,313 109,881,748
03/23/10 35,486,342 74,798,003
03/24/10 19,843,731 39,694,387
03/25/10 10,914,641 23,001,541
03/26/10 7,591,618 27,161,951
03/29/10 30,348,293 101,681,376
03/30/10 23,457,490 50,109,907
03/31/10 7,416,382 19,126,517
04/01/10 6,891,138 11,151,210
04/05/10 8,870,598 33,170,459
04/06/10 8,278,870 26,408,749
04/07/10 4,490,500 11,094,728
04/08/10 4,745,843 11,501,242
04/09/10 9,965,692 17,552,203
04/12/10 3,961,094 8,382,956
04/13/10 15,684,987 23,506,550
04/14/10 3,400,000 9,142,834
04/15/10 6,935,890 15,343,710
04/16/10 2,790,000 16,571,002
04/19/10 4,045,219 9,866,723
04/20/10 6,384,300 7,599,235
04/21/10 2,038,800 4,845,155
04/22/10 3,242,064 8,450,729
04/23/10 4,479,675 5,036,191
04/26/10 6,566,460 13,575,562
04/27/10 8,812,185 13,243,737
04/28/10 4,875,985 7,578,283
04/29/10 13,466,055 21,936,055
04/30/10 41,622,052 94,984,378
05/03/10 26,167,551 77,728,978
05/04/10 4,145,000 13,119,489
05/05/10 4,385,624 13,037,329
05/06/10 3,428,000 31,837,658
05/07/10 3,800,000 11,129,205
05/10/10 660,000 4,162,749
05/11/10 2,939,999 9,223,260
05/12/10 3,150,000 16,771,773
05/13/10 2,500,000 5,823,525
05/14/10 100,000 9,267,075
05/17/10 2,635,000 27,157,497
05/18/10 12,397,434 78,738,408
05/19/10 42,851,635 121,575,117
05/20/10 860,030 59,939,198
05/21/10 147,500 18,867,032
05/24/10 359,000 14,244,766
05/25/10 4,488,200 17,852,874
05/26/10 3,170,000 9,078,264
05/27/10 1,332,164 8,952,600
05/28/10 5,897,341 31,030,097
06/01/10 5,180,210 57,579,799
06/02/10 370,170 20,623,921
06/03/10 649,995 9,108,272
06/04/10 1,929,999 4,132,640
06/07/10 17,464,000 24,561,713
06/08/10 500,000 13,437,873
06/10/10 753,000 1,613,001
06/11/10 350,000 5,220,718
06/14/10 2,501,000 4,463,462
06/15/10 50,000 1,713,000
06/16/10 130,000 312,000
06/17/10 1,170,000 2,520,000
06/18/10 769,633 2,104,217
06/21/10 1,890,000 4,823,980
06/22/10 1,572,000 5,508,634
06/24/10 5,000 1,857,952
06/25/10 880,000 3,726,054
06/30/10 500,000 1,610,000
07/01/10 5,000 1,083,356
07/02/10 70,000 615,200
07/06/10 1,000 1,648,000
07/07/10 1,680,000 2,970,732
07/08/10 8,350,000 14,238,615
07/09/10 790,000 8,191,770
07/14/10 1,700,643 3,736,498
07/15/10 65,000 3,349,736
07/16/10 300,000 4,976,621
07/19/10 4,104,999 9,633,965
07/20/10 1,705,000 3,506,825
07/22/10 7,142,000 7,844,888
07/23/10 1,310,000 1,380,000
07/26/10 5,000 1,856,968
07/27/10 1,375,566 3,007,869
07/28/10 800,000 1,290,000
07/29/10 216,197 416,197
07/30/10 4,785,000 5,393,566
08/02/10 2,714,700 4,049,050
08/04/10 2,410,450 3,541,150
08/05/10 881,000 2,073,670
08/13/10 190,000 280,240
08/16/10 4,425,000 6,236,700
08/17/10 2,800,000 12,642,605
08/18/10 500,000 1,771,000
08/19/10 2,695,000 7,739,541
08/23/10 210,000 5,343,666
08/24/10 5,413,300 7,083,599
08/25/10 1,688,000 1,786,950
08/26/10 1,138,000 2,208,006
08/27/10 1,686,000 8,146,500
08/30/10 5,983,225 25,280,292
08/31/10 3,696,555 15,809,922
09/01/10 960,000 10,039,611
09/02/10 2,166,243 6,242,316
09/03/10 6,911,089 12,663,095
09/07/10 2,735,000 4,719,111
09/08/10 2,647,000 3,811,530
09/09/10 905,983 2,121,902
09/10/10 25,508,649 61,486,447
09/13/10 3,046,500 9,172,085
09/14/10 8,867,736 24,507,425
09/15/10 2,478,587 8,965,034
09/16/10 5,501,700 7,953,099
09/17/10 396,302 5,244,000
09/20/10 1,573,600 11,669,282
09/21/10 1,110,000 5,027,818
09/22/10 50,000 2,344,000
09/23/10 3,390,000 7,931,800
09/24/10 20,916,666 30,512,716
09/29/10 445,100 1,534,600
09/30/10 76,000 2,329,500
10/01/10 555,000 6,796,519
10/04/10 167,818 7,281,839
10/05/10 2,020,000 5,552,346
10/06/10 820,217 1,228,383
10/07/10 75,000 270,000
10/08/10 250,000 1,324,850
10/11/10 475,000 1,875,000
10/12/10 10,000 2,974,350
10/13/10 4,782,105 6,572,455
10/14/10 13,690,792 17,724,900
10/15/10 6,146,641 7,965,813
10/18/10 1,792,000 9,346,500
10/19/10 175,000 2,636,050
10/21/10 1,261,000 7,058,235
10/25/10 913,000 3,466,500
10/26/10 1,772,500 4,093,000
10/27/10 970,000 1,635,000
10/28/10 1,493,800 3,385,450
10/29/10 6,376,777 12,799,358
11/01/10 2,572,000 10,924,729
11/02/10 7,719,076 14,015,416
11/03/10 18,248,063 32,755,743
11/04/10 39,625,898 88,113,258
11/05/10 17,901,177 32,654,483
11/08/10 8,217,387 16,322,810
11/09/10 5,452,385 13,189,199
11/10/10 109,230 2,289,230
11/11/10 2,740,142 3,852,463
11/12/10 1,405,261 3,696,889
11/15/10 1,289,000 8,367,200
11/16/10 2,827,618 9,219,667
11/18/10 2,579,840 3,470,277
11/19/10 6,871,315 12,389,606
11/22/10 227,743 2,115,500
11/23/10 950,000 3,147,788
11/24/10 713,900 883,900
11/26/10 250,000 377,000
11/29/10 2,439,000 9,075,478
11/30/10 4,049,843 5,435,686
12/01/10 191,700 4,002,495
12/02/10 2,875,379 7,101,640
12/03/10 5,508,116 11,920,276
12/06/10 1,053,243 6,152,083
12/07/10 3,462,523 13,774,190
12/08/10 760,000 3,824,400
12/09/10 1,655,000 6,647,693
12/10/10 6,229,599 10,982,920
12/13/10 583,862 4,417,070
12/14/10 1,425,500 2,005,500
12/15/10 3,644,984 8,766,859
12/16/10 974,900 5,452,947
12/17/10 2,000,000 4,351,127
12/20/10 1,850,000 4,313,928
12/21/10 3,243,600 3,983,457
12/22/10 2,403,618 4,333,707
12/23/10 2,340,714 3,435,714
12/27/10 3,566,351 7,628,323
12/28/10 1,084,000 1,530,000
12/29/10 1,933,799 7,425,793
12/30/10 550,000 2,545,246
12/31/10 3,417,310 5,000,810
01/03/11 4,430,339 9,122,139
01/04/11 1,401,100 3,372,440
01/05/11 3,896,937 13,149,821
01/06/11 3,124,400 4,587,337
01/07/11 3,179,186 6,113,324
01/10/11 1,815,000 5,520,000
01/11/11 1,500,000 1,823,900
01/12/11 975,000 1,696,000
01/13/11 2,543,181 5,155,481
01/14/11 211,000 287,280
01/18/11 10,000 1,093,527
01/19/11 860,200 1,392,200
01/20/11 1,550,000 2,794,634
01/21/11 4,013,046 13,327,514
01/24/11 1,803,600 4,691,090
01/25/11 6,000 1,461,800
01/26/11 510,000 1,399,500
01/27/11 4,575,642 6,709,344
01/28/11 2,002,651 2,487,651
01/31/11 900,000 2,491,200
02/01/11 2,641,502 7,034,208
02/02/11 410,000 1,995,000
02/03/11 61,411 1,770,999
02/04/11 816,200 1,296,099
02/07/11 1,566,280 3,640,797
02/08/11 865,083 2,970,009
02/09/11 200,000 2,297,867
02/10/11 4,755,000 7,145,000
02/11/11 5,940,800 7,763,933
02/14/11 4,495,000 7,783,866
02/15/11 3,565,103 3,738,158
02/16/11 12,376,118 19,520,799
02/17/11 2,304,995 9,371,575
02/18/11 2,198,391 7,048,989
02/22/11 2,529,459 7,166,123
02/23/11 2,149,101 4,501,764
02/24/11 7,360,500 11,531,000
02/25/11 11,908,170 25,259,785
02/28/11 8,938,195 0 18,507,022
Thank you for the clarification.
The case was filed against the company prior to it becoming CPRK. In 2005 Daryn Fleming, then CEO of International Broadcasting Corporation, made fraudulent statements about acquiring affiliate stations. The SEC brought action against him for misrepresentation.
http://www.sec.gov/litigation/complaints/2007/comp20442_ibc.pdf
On December 19, 2007, WUCC performed a reverse merger with International Broadcasting Corporation, and changed the name to Copper King Mining Corporation. The management of IBC (based in Spokane, Washington) is not the management of CPRK (based in Milford, Utah). Companies often perform reverse mergers to save costs on their IPO. It is unfortunate in this case that the history of the former company continues to taint the current one.
Does CPRK have problems? Obviously... we're in bankruptcy. Is this one of them? No. Do we have some unscrupulous individuals at the helm? Possibly... we'll know more when the complaint against Davis Accounting Group is ruled upon. Regardless, any inappropriate actions by current management are not those described in the SEC's complaint.
...And not associated with CPRK, other than they reverse merged WUCC with CPRK to take the company public. Blum and Fleming having nothing to do with modern day CPRK.
So, we should trust an anonymous poster with only negative input over multiple scientists with decades of experience signing court documents that if fallacious put their professional reputation and personal freedom in jeopardy?
Date Short Volume Total Volume % Short
08/04/09 2,549,945 3,884,445 65.65%
08/05/09 8,062,003 14,730,741 54.73%
08/06/09 7,378,326 13,326,871 55.36%
08/07/09 2,365,103 13,315,459 17.76%
08/10/09 2,316,538 9,526,957 24.32%
08/11/09 3,865,279 9,871,620 39.16%
08/12/09 1,611,731 7,377,131 21.85%
08/13/09 1,199,813 7,100,619 16.90%
08/14/09 718,600 5,673,427 12.67%
08/17/09 2,973,494 9,569,694 31.07%
08/18/09 2,662,525 8,403,905 31.68%
08/19/09 3,006,445 13,389,394 22.45%
08/20/09 4,682,655 10,630,735 44.05%
08/21/09 4,960,400 10,089,304 49.16%
08/24/09 2,406,154 5,346,854 45.00%
08/25/09 1,591,372 6,259,941 25.42%
08/26/09 2,620,350 5,323,119 49.23%
08/27/09 2,015,076 3,976,747 50.67%
08/28/09 5,195,275 10,515,930 49.40%
08/31/09 3,124,018 9,670,892 32.30%
09/01/09 4,740,748 8,349,171 56.78%
09/02/09 3,592,282 15,700,616 22.88%
09/03/09 3,587,745 9,377,363 38.26%
09/04/09 2,596,858 8,430,147 30.80%
09/08/09 1,020,700 2,377,498 42.93%
09/09/09 2,214,201 3,678,938 60.19%
09/10/09 2,096,053 2,965,348 70.68%
09/11/09 2,739,275 4,538,497 60.36%
09/14/09 4,434,290 4,933,558 89.88%
09/15/09 2,490,130 3,676,886 67.72%
09/16/09 2,192,801 6,170,570 35.54%
09/17/09 10,803,090 23,669,219 45.64%
09/18/09 11,746,273 31,573,973 37.20%
09/21/09 17,103,086 53,992,379 31.68%
09/22/09 15,894,269 37,249,030 42.67%
09/23/09 4,636,842 17,117,282 27.09%
09/24/09 3,118,373 11,942,775 26.11%
09/25/09 7,295,133 29,465,796 24.76%
09/28/09 5,285,503 16,725,071 31.60%
09/29/09 3,407,074 15,522,211 21.95%
09/30/09 5,669,696 31,143,983 18.20%
10/01/09 2,549,000 14,058,865 18.13%
10/02/09 982,674 12,604,389 7.80%
10/05/09 9,624,588 25,213,481 38.17%
10/06/09 7,979,514 17,991,086 44.35%
10/07/09 2,095,500 5,871,736 35.69%
10/08/09 2,294,750 12,133,845 18.91%
10/09/09 1,727,461 5,751,284 30.04%
10/12/09 1,420,498 5,139,083 27.64%
10/13/09 1,990,241 3,552,251 56.03%
10/14/09 7,231,939 17,247,965 41.93%
10/15/09 4,429,649 7,785,546 56.90%
10/16/09 3,815,354 9,118,879 41.84%
10/19/09 4,997,502 15,590,582 32.05%
10/20/09 7,964,662 16,507,641 48.25%
10/21/09 8,308,806 15,288,134 54.35%
10/22/09 1,345,400 3,999,515 33.64%
10/23/09 1,829,995 4,915,577 37.23%
10/26/09 5,173,026 13,637,426 37.93%
10/27/09 1,527,432 4,372,356 34.93%
10/28/09 863,840 3,559,275 24.27%
10/29/09 957,000 3,166,120 30.23%
10/30/09 1,782,790 6,064,254 29.40%
11/02/09 2,420,217 7,128,952 33.95%
11/03/09 3,516,608 7,868,915 44.69%
11/04/09 3,005,040 7,204,923 41.71%
11/05/09 1,132,224 3,596,128 31.48%
11/06/09 2,437,300 4,905,700 49.68%
11/09/09 3,357,313 10,109,127 33.21%
11/10/09 2,597,726 11,658,907 22.28%
11/11/09 1,710,626 6,539,630 26.16%
11/12/09 2,546,340 14,999,519 16.98%
11/13/09 5,097,692 16,378,861 31.12%
11/16/09 3,967,200 23,482,263 16.89%
11/17/09 8,068,784 35,177,117 22.94%
11/18/09 9,420,099 23,153,403 40.69%
11/19/09 5,756,169 21,434,824 26.85%
11/20/09 2,424,668 12,204,442 19.87%
11/23/09 16,173,168 63,396,269 25.51%
11/24/09 12,771,142 35,946,568 35.53%
11/25/09 28,600,629 105,040,077 27.23%
11/27/09 7,010,800 14,810,846 47.34%
11/30/09 8,037,975 14,681,420 54.75%
12/01/09 5,706,818 11,681,511 48.85%
12/02/09 5,396,001 14,190,750 38.02%
12/03/09 4,818,891 10,719,506 44.95%
12/04/09 4,588,700 13,563,427 33.83%
12/07/09 3,300,200 5,377,770 61.37%
12/08/09 1,437,024 7,073,999 20.31%
12/09/09 5,378,909 10,810,602 49.76%
12/10/09 480,500 8,423,202 5.70%
12/11/09 9,495,833 23,743,809 39.99%
12/14/09 989,997 8,269,449 11.97%
12/15/09 3,548,312 8,987,749 39.48%
12/16/09 5,320,100 14,845,193 35.84%
12/17/09 7,016,599 19,683,944 35.65%
12/18/09 12,067,898 21,301,518 56.65%
12/21/09 10,848,849 16,872,149 64.30%
12/22/09 6,327,003 14,226,280 44.47%
12/23/09 3,888,100 5,700,989 68.20%
12/24/09 3,306,027 5,677,652 58.23%
12/28/09 10,703,643 23,859,081 44.86%
12/29/09 9,211,800 16,849,015 54.67%
12/30/09 5,911,812 10,392,736 56.88%
12/31/09 6,981,922 13,927,890 50.13%
01/04/10 16,496,992 30,238,853 54.56%
01/05/10 6,745,110 9,982,066 67.57%
01/06/10 7,151,556 10,279,960 69.57%
01/07/10 8,648,767 9,645,960 89.66%
01/08/10 5,607,509 8,940,352 62.72%
01/11/10 10,351,493 22,294,994 46.43%
01/12/10 7,641,410 20,584,139 37.12%
01/13/10 305,000 5,293,512 5.76%
01/14/10 13,865,129 25,345,899 54.70%
01/15/10 6,301,530 11,900,330 52.95%
01/19/10 6,880,747 8,923,605 77.11%
01/20/10 12,632,487 18,648,214 67.74%
01/21/10 7,167,716 8,387,451 85.46%
01/22/10 25,174,440 28,832,018 87.31%
01/25/10 2,320,000 13,364,299 17.36%
01/26/10 5,965,000 14,774,819 40.37%
01/27/10 2,011,125 6,747,967 29.80%
01/28/10 3,035,000 9,348,664 32.46%
01/29/10 7,461,367 14,889,636 50.11%
02/01/10 9,739,170 20,549,542 47.39%
02/02/10 5,355,233 7,289,605 73.46%
02/03/10 2,836,244 12,816,314 22.13%
02/04/10 4,995,349 11,291,748 44.24%
02/05/10 3,319,840 10,131,998 32.77%
02/08/10 11,434,265 21,220,886 53.88%
02/09/10 5,057,461 13,117,450 38.56%
02/10/10 5,218,223 7,701,155 67.76%
02/11/10 7,885,204 11,076,827 71.19%
02/12/10 17,039,736 32,419,035 52.56%
02/16/10 27,499,775 58,786,217 46.78%
02/17/10 23,172,601 35,872,524 64.60%
02/18/10 12,485,826 27,203,302 45.90%
02/19/10 13,569,935 34,304,025 39.56%
02/22/10 4,778,000 5,711,944 83.65%
02/23/10 11,762,834 17,645,757 66.66%
02/24/10 32,112,721 67,798,494 47.36%
02/25/10 14,136,945 28,237,439 50.06%
02/26/10 23,819,900 38,878,000 61.27%
03/01/10 45,707,788 86,871,291 52.62%
03/02/10 29,067,411 45,404,333 64.02%
03/03/10 15,307,178 25,237,422 60.65%
03/04/10 47,003,965 70,885,069 66.31%
03/05/10 46,653,637 89,538,537 52.10%
03/08/10 24,868,246 69,528,751 35.77%
03/09/10 21,888,576 48,823,741 44.83%
03/10/10 23,519,185 36,630,884 64.21%
03/11/10 26,690,673 46,275,988 57.68%
03/12/10 29,003,261 49,737,613 58.31%
03/15/10 13,853,124 25,647,486 54.01%
03/16/10 16,914,545 30,691,561 55.11%
03/17/10 26,057,061 37,191,834 70.06%
03/18/10 18,266,271 25,733,108 70.98%
03/19/10 36,839,135 75,638,482 48.70%
03/22/10 43,218,313 109,881,748 39.33%
03/23/10 35,486,342 74,798,003 47.44%
03/24/10 19,843,731 39,694,387 49.99%
03/25/10 10,914,641 23,001,541 47.45%
03/26/10 7,591,618 27,161,951 27.95%
03/29/10 30,348,293 101,681,376 29.85%
03/30/10 23,457,490 50,109,907 46.81%
03/31/10 7,416,382 19,126,517 38.78%
04/01/10 6,891,138 11,151,210 61.80%
04/05/10 8,870,598 33,170,459 26.74%
04/06/10 8,278,870 26,408,749 31.35%
04/07/10 4,490,500 11,094,728 40.47%
04/08/10 4,745,843 11,501,242 41.26%
04/09/10 9,965,692 17,552,203 56.78%
04/12/10 3,961,094 8,382,956 47.25%
04/13/10 15,684,987 23,506,550 66.73%
04/14/10 3,400,000 9,142,834 37.19%
04/15/10 6,935,890 15,343,710 45.20%
04/16/10 2,790,000 16,571,002 16.84%
04/19/10 4,045,219 9,866,723 41.00%
04/20/10 6,384,300 7,599,235 84.01%
04/21/10 2,038,800 4,845,155 42.08%
04/22/10 3,242,064 8,450,729 38.36%
04/23/10 4,479,675 5,036,191 88.95%
04/26/10 6,566,460 13,575,562 48.37%
04/27/10 8,812,185 13,243,737 66.54%
04/28/10 4,875,985 7,578,283 64.34%
04/29/10 13,466,055 21,936,055 61.39%
04/30/10 41,622,052 94,984,378 43.82%
05/03/10 26,167,551 77,728,978 33.67%
05/04/10 4,145,000 13,119,489 31.59%
05/05/10 4,385,624 13,037,329 33.64%
05/06/10 3,428,000 31,837,658 10.77%
05/07/10 3,800,000 11,129,205 34.14%
05/10/10 660,000 4,162,749 15.85%
05/11/10 2,939,999 9,223,260 31.88%
05/12/10 3,150,000 16,771,773 18.78%
05/13/10 2,500,000 5,823,525 42.93%
05/14/10 100,000 9,267,075 1.08%
05/17/10 2,635,000 27,157,497 9.70%
05/18/10 12,397,434 78,738,408 15.75%
05/19/10 42,851,635 121,575,117 35.25%
05/20/10 860,030 59,939,198 1.43%
05/21/10 147,500 18,867,032 0.78%
05/24/10 359,000 14,244,766 2.52%
05/25/10 4,488,200 17,852,874 25.14%
05/26/10 3,170,000 9,078,264 34.92%
05/27/10 1,332,164 8,952,600 14.88%
05/28/10 5,897,341 31,030,097 19.01%
06/01/10 5,180,210 57,579,799 9.00%
06/02/10 370,170 20,623,921 1.79%
06/03/10 649,995 9,108,272 7.14%
06/04/10 1,929,999 4,132,640 46.70%
06/07/10 17,464,000 24,561,713 71.10%
06/08/10 500,000 13,437,873 3.72%
06/10/10 753,000 1,613,001 46.68%
06/11/10 350,000 5,220,718 6.70%
06/14/10 2,501,000 4,463,462 56.03%
06/15/10 50,000 1,713,000 2.92%
06/16/10 130,000 312,000 41.67%
06/17/10 1,170,000 2,520,000 46.43%
06/18/10 769,633 2,104,217 36.58%
06/21/10 1,890,000 4,823,980 39.18%
06/22/10 1,572,000 5,508,634 28.54%
06/24/10 5,000 1,857,952 0.27%
06/25/10 880,000 3,726,054 23.62%
06/30/10 500,000 1,610,000 31.06%
07/01/10 5,000 1,083,356 0.46%
07/02/10 70,000 615,200 11.38%
07/06/10 1,000 1,648,000 0.06%
07/07/10 1,680,000 2,970,732 56.55%
07/08/10 8,350,000 14,238,615 58.64%
07/09/10 790,000 8,191,770 9.64%
07/14/10 1,700,643 3,736,498 45.51%
07/15/10 65,000 3,349,736 1.94%
07/16/10 300,000 4,976,621 6.03%
07/19/10 4,104,999 9,633,965 42.61%
07/20/10 1,705,000 3,506,825 48.62%
07/22/10 7,142,000 7,844,888 91.04%
07/23/10 1,310,000 1,380,000 94.93%
07/26/10 5,000 1,856,968 0.27%
07/27/10 1,375,566 3,007,869 45.73%
07/28/10 800,000 1,290,000 62.02%
07/29/10 216,197 416,197 51.95%
07/30/10 4,785,000 5,393,566 88.72%
08/02/10 2,714,700 4,049,050 67.05%
08/04/10 2,410,450 3,541,150 68.07%
08/05/10 881,000 2,073,670 42.49%
08/13/10 190,000 280,240 67.80%
08/16/10 4,425,000 6,236,700 70.95%
08/17/10 2,800,000 12,642,605 22.15%
08/18/10 500,000 1,771,000 28.23%
08/19/10 2,695,000 7,739,541 34.82%
08/23/10 210,000 5,343,666 3.93%
08/24/10 5,413,300 7,083,599 76.42%
08/25/10 1,688,000 1,786,950 94.46%
08/26/10 1,138,000 2,208,006 51.54%
08/27/10 1,686,000 8,146,500 20.70%
08/30/10 5,983,225 25,280,292 23.67%
08/31/10 3,696,555 15,809,922 23.38%
09/01/10 960,000 10,039,611 9.56%
09/02/10 2,166,243 6,242,316 34.70%
09/03/10 6,911,089 12,663,095 54.58%
09/07/10 2,735,000 4,719,111 57.96%
09/08/10 2,647,000 3,811,530 69.45%
09/09/10 905,983 2,121,902 42.70%
09/10/10 25,508,649 61,486,447 41.49%
09/13/10 3,046,500 9,172,085 33.21%
09/14/10 8,867,736 24,507,425 36.18%
09/15/10 2,478,587 8,965,034 27.65%
09/16/10 5,501,700 7,953,099 69.18%
09/17/10 396,302 5,244,000 7.56%
09/20/10 1,573,600 11,669,282 13.48%
09/21/10 1,110,000 5,027,818 22.08%
09/22/10 50,000 2,344,000 2.13%
09/23/10 3,390,000 7,931,800 42.74%
09/24/10 20,916,666 30,512,716 68.55%
09/29/10 445,100 1,534,600 29.00%
09/30/10 76,000 2,329,500 3.26%
10/01/10 555,000 6,796,519 8.17%
10/04/10 167,818 7,281,839 2.30%
10/05/10 2,020,000 5,552,346 36.38%
10/06/10 820,217 1,228,383 66.77%
10/07/10 75,000 270,000 27.78%
10/08/10 250,000 1,324,850 18.87%
10/11/10 475,000 1,875,000 25.33%
10/12/10 10,000 2,974,350 0.34%
10/13/10 4,782,105 6,572,455 72.76%
...And if you're wondering where that information came from, I wrote a program to scrape it off the FINRA website.
http://regsho.finra.org/regsho-Index.html
Here is the entire short history:
Date Short Volume Total Volume % Short
08/03/09 7,559,733 19,491,759 38.8%
08/04/09 2,549,945 3,884,445 65.6%
08/05/09 8,062,003 14,730,741 54.7%
08/06/09 7,378,326 13,326,871 55.4%
08/07/09 2,365,103 13,315,459 17.8%
08/10/09 2,316,538 9,526,957 24.3%
08/11/09 3,865,279 9,871,620 39.2%
08/12/09 1,611,731 7,377,131 21.8%
08/13/09 1,199,813 7,100,619 16.9%
08/14/09 718,600 5,673,427 12.7%
08/17/09 2,973,494 9,569,694 31.1%
08/18/09 2,662,525 8,403,905 31.7%
08/19/09 3,006,445 13,389,394 22.5%
08/20/09 4,682,655 10,630,735 44.0%
08/21/09 4,960,400 10,089,304 49.2%
08/24/09 2,406,154 5,346,854 45.0%
08/25/09 1,591,372 6,259,941 25.4%
08/26/09 2,620,350 5,323,119 49.2%
08/27/09 2,015,076 3,976,747 50.7%
08/28/09 5,195,275 10,515,930 49.4%
08/31/09 3,124,018 9,670,892 32.3%
09/01/09 4,740,748 8,349,171 56.8%
09/02/09 3,592,282 15,700,616 22.9%
09/03/09 3,587,745 9,377,363 38.3%
09/04/09 2,596,858 8,430,147 30.8%
09/08/09 1,020,700 2,377,498 42.9%
09/09/09 2,214,201 3,678,938 60.2%
09/10/09 2,096,053 2,965,348 70.7%
09/11/09 2,739,275 4,538,497 60.4%
09/14/09 4,434,290 4,933,558 89.9%
09/15/09 2,490,130 3,676,886 67.7%
09/16/09 2,192,801 6,170,570 35.5%
09/17/09 10,803,090 23,669,219 45.6%
09/18/09 11,746,273 31,573,973 37.2%
09/21/09 17,103,086 53,992,379 31.7%
09/22/09 15,894,269 37,249,030 42.7%
09/23/09 4,636,842 17,117,282 27.1%
09/24/09 3,118,373 11,942,775 26.1%
09/25/09 7,295,133 29,465,796 24.8%
09/28/09 5,285,503 16,725,071 31.6%
09/29/09 3,407,074 15,522,211 21.9%
09/30/09 5,669,696 31,143,983 18.2%
10/01/09 2,549,000 14,058,865 18.1%
10/02/09 982,674 12,604,389 7.8%
10/05/09 9,624,588 25,213,481 38.2%
10/06/09 7,979,514 17,991,086 44.4%
10/07/09 2,095,500 5,871,736 35.7%
10/08/09 2,294,750 12,133,845 18.9%
10/09/09 1,727,461 5,751,284 30.0%
10/12/09 1,420,498 5,139,083 27.6%
10/13/09 1,990,241 3,552,251 56.0%
10/14/09 7,231,939 17,247,965 41.9%
10/15/09 4,429,649 7,785,546 56.9%
10/16/09 3,815,354 9,118,879 41.8%
10/19/09 4,997,502 15,590,582 32.1%
10/20/09 7,964,662 16,507,641 48.2%
10/21/09 8,308,806 15,288,134 54.3%
10/22/09 1,345,400 3,999,515 33.6%
10/23/09 1,829,995 4,915,577 37.2%
10/26/09 5,173,026 13,637,426 37.9%
10/27/09 1,527,432 4,372,356 34.9%
10/28/09 863,840 3,559,275 24.3%
10/29/09 957,000 3,166,120 30.2%
10/30/09 1,782,790 6,064,254 29.4%
11/02/09 2,420,217 7,128,952 33.9%
11/03/09 3,516,608 7,868,915 44.7%
11/04/09 3,005,040 7,204,923 41.7%
11/05/09 1,132,224 3,596,128 31.5%
11/06/09 2,437,300 4,905,700 49.7%
11/09/09 3,357,313 10,109,127 33.2%
11/10/09 2,597,726 11,658,907 22.3%
11/11/09 1,710,626 6,539,630 26.2%
11/12/09 2,546,340 14,999,519 17.0%
11/13/09 5,097,692 16,378,861 31.1%
11/16/09 3,967,200 23,482,263 16.9%
11/17/09 8,068,784 35,177,117 22.9%
11/18/09 9,420,099 23,153,403 40.7%
11/19/09 5,756,169 21,434,824 26.9%
11/20/09 2,424,668 12,204,442 19.9%
11/23/09 16,173,168 63,396,269 25.5%
11/24/09 12,771,142 35,946,568 35.5%
11/25/09 28,600,629 105,040,077 27.2%
11/27/09 7,010,800 14,810,846 47.3%
11/30/09 8,037,975 14,681,420 54.7%
12/01/09 5,706,818 11,681,511 48.9%
12/02/09 5,396,001 14,190,750 38.0%
12/03/09 4,818,891 10,719,506 45.0%
12/04/09 4,588,700 13,563,427 33.8%
12/07/09 3,300,200 5,377,770 61.4%
12/08/09 1,437,024 7,073,999 20.3%
12/09/09 5,378,909 10,810,602 49.8%
12/10/09 480,500 8,423,202 5.7%
12/11/09 9,495,833 23,743,809 40.0%
12/14/09 989,997 8,269,449 12.0%
12/15/09 3,548,312 8,987,749 39.5%
12/16/09 5,320,100 14,845,193 35.8%
12/17/09 7,016,599 19,683,944 35.6%
12/18/09 12,067,898 21,301,518 56.7%
12/21/09 10,848,849 16,872,149 64.3%
12/22/09 6,327,003 14,226,280 44.5%
12/23/09 3,888,100 5,700,989 68.2%
12/24/09 3,306,027 5,677,652 58.2%
12/28/09 10,703,643 23,859,081 44.9%
12/29/09 9,211,800 16,849,015 54.7%
12/30/09 5,911,812 10,392,736 56.9%
12/31/09 6,981,922 13,927,890 50.1%
01/04/10 16,496,992 30,238,853 54.6%
01/05/10 6,745,110 9,982,066 67.6%
01/06/10 7,151,556 10,279,960 69.6%
01/07/10 8,648,767 9,645,960 89.7%
01/08/10 5,607,509 8,940,352 62.7%
01/11/10 10,351,493 22,294,994 46.4%
01/12/10 7,641,410 20,584,139 37.1%
01/13/10 305,000 5,293,512 5.8%
01/14/10 13,865,129 25,345,899 54.7%
01/15/10 6,301,530 11,900,330 53.0%
01/19/10 6,880,747 8,923,605 77.1%
01/20/10 12,632,487 18,648,214 67.7%
01/21/10 7,167,716 8,387,451 85.5%
01/22/10 25,174,440 28,832,018 87.3%
01/25/10 2,320,000 13,364,299 17.4%
01/26/10 5,965,000 14,774,819 40.4%
01/27/10 2,011,125 6,747,967 29.8%
01/28/10 3,035,000 9,348,664 32.5%
01/29/10 7,461,367 14,889,636 50.1%
02/01/10 9,739,170 20,549,542 47.4%
02/02/10 5,355,233 7,289,605 73.5%
02/03/10 2,836,244 12,816,314 22.1%
02/04/10 4,995,349 11,291,748 44.2%
02/05/10 3,319,840 10,131,998 32.8%
02/08/10 11,434,265 21,220,886 53.9%
02/09/10 5,057,461 13,117,450 38.6%
02/10/10 5,218,223 7,701,155 67.8%
02/11/10 7,885,204 11,076,827 71.2%
02/12/10 17,039,736 32,419,035 52.6%
02/16/10 27,499,775 58,786,217 46.8%
02/17/10 23,172,601 35,872,524 64.6%
02/18/10 12,485,826 27,203,302 45.9%
02/19/10 13,569,935 34,304,025 39.6%
02/22/10 4,778,000 5,711,944 83.6%
02/23/10 11,762,834 17,645,757 66.7%
02/24/10 32,112,721 67,798,494 47.4%
02/25/10 14,136,945 28,237,439 50.1%
02/26/10 23,819,900 38,878,000 61.3%
03/01/10 45,707,788 86,871,291 52.6%
03/02/10 29,067,411 45,404,333 64.0%
03/03/10 15,307,178 25,237,422 60.7%
03/04/10 47,003,965 70,885,069 66.3%
03/05/10 46,653,637 89,538,537 52.1%
03/08/10 24,868,246 69,528,751 35.8%
03/09/10 21,888,576 48,823,741 44.8%
03/10/10 23,519,185 36,630,884 64.2%
03/11/10 26,690,673 46,275,988 57.7%
03/12/10 29,003,261 49,737,613 58.3%
03/15/10 13,853,124 25,647,486 54.0%
03/16/10 16,914,545 30,691,561 55.1%
03/17/10 26,057,061 37,191,834 70.1%
03/18/10 18,266,271 25,733,108 71.0%
03/19/10 36,839,135 75,638,482 48.7%
03/22/10 43,218,313 109,881,748 39.3%
03/23/10 35,486,342 74,798,003 47.4%
03/24/10 19,843,731 39,694,387 50.0%
03/25/10 10,914,641 23,001,541 47.5%
03/26/10 7,591,618 27,161,951 27.9%
03/29/10 30,348,293 101,681,376 29.8%
03/30/10 23,457,490 50,109,907 46.8%
03/31/10 7,416,382 19,126,517 38.8%
04/01/10 6,891,138 11,151,210 61.8%
04/05/10 8,870,598 33,170,459 26.7%
04/06/10 8,278,870 26,408,749 31.3%
04/07/10 4,490,500 11,094,728 40.5%
04/08/10 4,745,843 11,501,242 41.3%
04/09/10 9,965,692 17,552,203 56.8%
04/12/10 3,961,094 8,382,956 47.3%
04/13/10 15,684,987 23,506,550 66.7%
04/14/10 3,400,000 9,142,834 37.2%
04/15/10 6,935,890 15,343,710 45.2%
04/16/10 2,790,000 16,571,002 16.8%
04/19/10 4,045,219 9,866,723 41.0%
04/20/10 6,384,300 7,599,235 84.0%
04/21/10 2,038,800 4,845,155 42.1%
04/22/10 3,242,064 8,450,729 38.4%
04/23/10 4,479,675 5,036,191 88.9%
04/26/10 6,566,460 13,575,562 48.4%
04/27/10 8,812,185 13,243,737 66.5%
04/28/10 4,875,985 7,578,283 64.3%
04/29/10 13,466,055 21,936,055 61.4%
04/30/10 41,622,052 94,984,378 43.8%
05/03/10 26,167,551 77,728,978 33.7%
05/04/10 4,145,000 13,119,489 31.6%
05/05/10 4,385,624 13,037,329 33.6%
05/06/10 3,428,000 31,837,658 10.8%
05/07/10 3,800,000 11,129,205 34.1%
05/10/10 660,000 4,162,749 15.9%
05/11/10 2,939,999 9,223,260 31.9%
05/12/10 3,150,000 16,771,773 18.8%
05/13/10 2,500,000 5,823,525 42.9%
05/14/10 100,000 9,267,075 1.1%
05/17/10 2,635,000 27,157,497 9.7%
05/18/10 12,397,434 78,738,408 15.7%
05/19/10 42,851,635 121,575,117 35.2%
05/20/10 860,030 59,939,198 1.4%
05/21/10 147,500 18,867,032 0.8%
05/24/10 359,000 14,244,766 2.5%
05/25/10 4,488,200 17,852,874 25.1%
05/26/10 3,170,000 9,078,264 34.9%
05/27/10 1,332,164 8,952,600 14.9%
05/28/10 5,897,341 31,030,097 19.0%
06/01/10 5,180,210 57,579,799 9.0%
06/02/10 370,170 20,623,921 1.8%
06/03/10 649,995 9,108,272 7.1%
06/04/10 1,929,999 4,132,640 46.7%
06/07/10 17,464,000 24,561,713 71.1%
06/08/10 500,000 13,437,873 3.7%
06/10/10 753,000 1,613,001 46.7%
06/11/10 350,000 5,220,718 6.7%
06/14/10 2,501,000 4,463,462 56.0%
06/15/10 50,000 1,713,000 2.9%
06/16/10 130,000 312,000 41.7%
06/17/10 1,170,000 2,520,000 46.4%
06/18/10 769,633 2,104,217 36.6%
06/21/10 1,890,000 4,823,980 39.2%
06/22/10 1,572,000 5,508,634 28.5%
06/24/10 5,000 1,857,952 0.3%
06/25/10 880,000 3,726,054 23.6%
06/30/10 500,000 1,610,000 31.1%
07/01/10 5,000 1,083,356 0.5%
07/02/10 70,000 615,200 11.4%
07/06/10 1,000 1,648,000 0.1%
07/07/10 1,680,000 2,970,732 56.6%
07/08/10 8,350,000 14,238,615 58.6%
07/09/10 790,000 8,191,770 9.6%
07/14/10 1,700,643 3,736,498 45.5%
07/15/10 65,000 3,349,736 1.9%
07/16/10 300,000 4,976,621 6.0%
07/19/10 4,104,999 9,633,965 42.6%
07/20/10 1,705,000 3,506,825 48.6%
07/22/10 7,142,000 7,844,888 91.0%
07/23/10 1,310,000 1,380,000 94.9%
07/26/10 5,000 1,856,968 0.3%
07/27/10 1,375,566 3,007,869 45.7%
07/28/10 800,000 1,290,000 62.0%
07/29/10 216,197 416,197 51.9%
07/30/10 4,785,000 5,393,566 88.7%
08/02/10 2,714,700 4,049,050 67.0%
08/04/10 2,410,450 3,541,150 68.1%
08/05/10 881,000 2,073,670 42.5%
08/13/10 190,000 280,240 67.8%
08/16/10 4,425,000 6,236,700 71.0%
08/17/10 2,800,000 12,642,605 22.1%
08/18/10 500,000 1,771,000 28.2%
08/19/10 2,695,000 7,739,541 34.8%
08/23/10 210,000 5,343,666 3.9%
08/24/10 5,413,300 7,083,599 76.4%
08/25/10 1,688,000 1,786,950 94.5%
08/26/10 1,138,000 2,208,006 51.5%
08/27/10 1,686,000 8,146,500 20.7%
08/30/10 5,983,225 25,280,292 23.7%
08/31/10 3,696,555 15,809,922 23.4%
09/01/10 960,000 10,039,611 9.6%
09/02/10 2,166,243 6,242,316 34.7%
09/03/10 6,911,089 12,663,095 54.6%
09/07/10 2,735,000 4,719,111 58.0%
09/08/10 2,647,000 3,811,530 69.4%
09/09/10 905,983 2,121,902 42.7%
09/10/10 25,508,649 61,486,447 41.5%
In almost all BK cases that is true, but 100% is an exaggeration.
I love all the recent, negative sentiment on the board; it gives me hope. No one bothered to bash this stock when liquidation looked imminent. Now we have a little volume, a bump in share price, and some favorable court decisions; and the tactics we've seen in the past have resumed.
I always welcome objective criticism, because it helps me make a more informed decision. Bashing, however, shows an ulterior motive; an adversarial force. You can't have an adversary if you're no longer in the fight.
For new investors, be very careful with this one. The company is in Chapter 11 BK, and it is very possible that it will end in Chapter 7. Unlike many would try to sway you to believe, Chapter 7 is not a certainty, only a possibility with a constantly changing probability. I would say that the best thing about this bankruptcy, is that we're finally obtaining some transparency.
GLTA
I thought they said that the business plan should be together within the next 45 days, and that the request for emergency DIP financing would be available yesterday. I was working during the call, so maybe I misunderstood.
Ha ha... I just posted that a few seconds after you. Sorry.
Not all BK situations end as poorly as some people here are speculating. There is an excellent example of how this could go just today (NYSE:XRM).
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100525006983&newsLang=en
Yes... let us all short the stock that can only go down a few ticks, but has an unlimited upside. You short on the way down, not at the bottom.
Can one of the mods make this sticky?
Apparently those were not CAM's words, and the reporter took some liberties with the interview. I think the old CPRK regime will try to do right by the shareholders, but the new CEO sounds like he might be a little unsympathetic.
I think you're right. This doesn't bode well for us.
My thoughts exactly (although phrased much more eloquently).
I do not know the answer to your question, but I can make one up if you'd like :)
Everything I stated was fact, and I asserted a logical (although not definitive) conclusion.
Your argument is deflective. I did not participate in the sentiments expressed in your first two statements, and grouping me in is only an attempt to deride my credibility through the actions of others.
There will only be a trustee if the court assigns one. The court will only assign one if there was illegal activity, gross negligence on the part of management, etc... Otherwise, the current management team remains in place under the shield of BK.
Did anyone else notice that The Watley Group does not specialize in bankruptcy reorganizations? They are a merchant bank. Merchant banks invest their own capital into a company. Since TWG has now inserted one of their own members as CEO, and has a financial stake in the company... I think we just got saved.
I've already taken all of the risk. Why would I sell when the downside is almost non-existent, and the sky is the limit on the upside? I can sell my 10K worth of stock and end up with 1K of cash and 3 years of tax write-offs... or I could wait through BK and have a slim chance to make some serious bank (still getting 3 years worth of tax write-offs if it collapses).
In order of probability (IMO):
1. (90.000%) New shares are issued, and the common share holder is wiped out.
2. (09.999%) Old shares are retained, and the common share holder is happy.
3. (00.001%) Old shares are retained, a R/S is performed, and the common shareholder may or may not be happy depending on price movement after the R/S.
Why are we giving so much credence to the most unlikely of possibilities?
I'm hoping you see the fallacy of your argument now. You're proposing that they want to be nice to the shareholders while they're screwing them.
Why would you sell it when there is the possibility of salvaging it? They're in a weak position to negotiate a sale, and more than likely, all proceeds would go to the creditors. We are last in line to get paid. There is no starting fresh without the land. You don't stumble onto multi-billion dollar mineral reserves every day.
Reorganization refers to shuffling around employees and responsibilities, renegotiating contracts, and rethinking business plans; it does not refer to the share structure. I ask again, why would they perform a reverse split when they can nullify all of the existing shares, and issue brand new ones?
I'm well aware of this, but thanks for the homework assignment :)
I said it "might be" not "is" the best thing for the company; only time will tell. As with any situation, there are positives and negatives; I prefer to examine them all. The negatives are obvious, but I haven't seen many talk about the positives. Can you honestly suggest a better course of action to take when you have no money, can't acquire new funds, have pending legal action, and creditors foreclosing?
I can't understand why you even suggest a R/S. I have seen no mention of one. CPRK has the option to liquidate all current shares... why would they R/S?
This really might be the best thing for the company. Under Chapter 11 the company can negotiate financing with favorable terms, because the new lender will take first priority on earnings. This was one of the things holding up prior financing deals, since the first tier lenders refused to take a backseat (I don't really blame them).
The company may also receive protection from the lawsuits against them, because of an automatic stay.
Also, we now have a company that specializes in restructuring failed/failing businesses at the helm. I don't know about the Watley Group's credentials, but hasn't everyone been begging to have actual businessmen in the captain's chair?
Thank you. You read more into CAM's statement then I did, but that may very well have been what he meant.