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Bought 20,000 at .0266!!!!!!!!!!!!!!!!!
Resistance strong. Uptick. A positive green day today--will it last to closing bell!!
No activity on this board--I guess everyone is more interested in having a buy order executed before things get too hectic. Anyone has any idea if Google could use any bands/spectrum/etc of the satellite that Terrestar still owns.
Luke do whatever is needed to get your uncle to find some information for all of us. Even if we find out accurately how many shares Citi is holding that would be a plus. Anything else beyond that would be juicy!!!!
truthhub, I just got the final clue: "SILENCE IS GOLDEN". Tomorrow I am selling some duds that can only go up 20% and am loading up on TSTRQ.
I just hope you guys don't rush to buy all at the same time and drive the price too high at the opening bell. Take your time. Give everybody a chance to load up. LOL!!!!!!
Xander, you got it right 'SILENCE IS GOLDEN". Read my posts and find out how to interpret Preis silence.
Am I too late to tell you that "silence is golden". You just gave away the big secret--THERE IS PLENTY OF GOLD IN SILENCE. Preis could not have told you that what is left is not worth $1 because by saying that the implication would have been that it is worth LESS than on edollar!!! And are we complaining if the lefovers are worth less than 30 cents, or 20 cents?
RoboTrader, that is nonsense and you know it! Which common shares are they talking about????
No one can do anything against the common shares unless the shareholders of the Q commons are all notified of any action that SOMEONE intends to take. 150,000,000 oustanding and no one there to represent us in court--you must be joking!!
Maybe it is the Q company that wants to get rid of the shares that have been taken over by the Dish company. You understand--they get rid of all the shares that are being transferred to Dish and we are left with FEWER OUTSTANDING SHARES.. Aur shares will be worth more! THAT IS THE STRATEGY. READ THE WORDING CAREFULLY AND CALL PREIS FOR AN OPINION.LOL!!!!!
RoboTrader, wrong-wrong-wrong!!!!
Common shares cannot be cancelled by anyone. The shareholders still have the right to sell TSTR as a shell company to a Chinese company that wants to become public on the OTC and wants to go through an IPO of new shares!!
There is still plenty of value even in a dead company and remember that when Dish absorbes the other TERRESTAR and the name disappears, this Terrestar name is still worth millions!!!!
Thanks for the advive! I am selling all my shares tomorrow just to please you.
I am waiting for the reinacting of the scene with Eddie Murphy in TRADING PLACES when the signal is given to buy! I would really like to experience the panic in the eyes of those marketmakers when everyone wants to buy this stock and there aren't that many shares available and by the close of the market this stock has gone up 300% or more!!!!!!
The story below appeared on June 28 on the WSJ. I mentioned earlier that any of you sassy in handling people shouLd contact a good reporter who can talk to the Terrestar president,CEO or other top person and get to the bottom of determining if the price of TSTRQ should go up right now based of the commom having some value! This guy Joseph Checkler looks like he would know how to contact the right person at Terrestar and with credentials like the WSJ he should be allowed to interview the top man without any problem. ONE OF YOU GUYS, PLEASE MAKE THE MOVE AND DO THE RIGHT THING!!!GET IN TOUCH WITH CHECKLER!!!
Tell the reporter that a good story like this could get him the Pulitzer Prize for Reporting if he incorporates the human side of the story by mentioning how many of us on this Board depend so much on the outcome of this event to take care of our families during this difficult period in the economy. Great story!!!
BY JOSEPH CHECKLER
TerreStar Networks Inc. has canceled its bankruptcy-court auction, as no competing bidders challenged Dish Network Corp.'s $1.375 billion offer.
In court papers filed Tuesday, TerreStar said the auction, originally set for Thursday, has been called off and that a hearing to consider the Dish bid will be held next week.
Last week, a judge said TerreStar could move forward with the auction, with Dish set as the ...
Read more: http://online.wsj.com/article/SB10001424052702304447804576413870303481638.html#ixzz1S5sVs5MZ
BY MIKE SPECTOR
Satellite mogul Charlie Ergen and a group of distressed-debt investors are gearing up for a fight to buy TerreStar Networks Inc. and its rights to a chunk of the airwaves earmarked for next-generation wireless networks.
Mr. Ergen's Dish Network Corp. and TerreStar bondholders including Solus Alternative Asset Management, Stark Investments and MSD Capital are in discussions to buy TerreStar out of bankruptcy protection, said people familiar with the matter.
TerreStar, which filed for Chapter 11 ...
Read more: http://online.wsj.com/article/SB10001424052702303714704576386143136550386.html#ixzz1S5w8cBey
I just thought of an assignment for those posters who know how to deal with media and other communication issues.
Please take a look at all the news reports that have been published recently by newswires from Reuters, Dow Jones and others. Look at the name of the reporters at the bottom of the story and I am sure there is also a contact phone number or email link to cantact that reporter.
Please call that person and advise him that the best story to report would be to make contact with the company and get a straight answer as to the status of the common shares held by people who buy ans sell this stock under the symbol TSTRQ.
TELL THE REPORTER TO WRIGHT A STORY ABOUT ALL OF US (HUNDREDS) WHO ARE ANXIOUSLY WAITING FOR THIS COMPANY TO DO THE RIGHT THING!!!
TSMoney, you seem to be well versed in posting complicated technical documents which I assume you understand what they mean. Now, a person like you would be perfect to talk to a lawyer like Mr.Preis. I realize the man might be tired of hearing from us but I know that you might have the know-how to talk to him quickly without waisting his time and understanding clearly what he says as where the Q stocks stands.
Please call him and post the results for the benefit of all of us. Thanks.
Arik Preis
Akin Gump Strauss Hauer & Feld LLP
One Bryant Park
New York, NY 10036
Phone: (212) 872-7418
Cell: (646) 483-2957
E-mail: apreis@akingump.com
CommonCents, when I called two days ago, the first thing Mr. Preis asked me was if the conversation was being recorded and I said NO! Afterward I relaid to all of you what he said based on what I could recall and understand.
Therefore, just tell us if you you spoke with him or if the cell phone has a recording for all of us to be aware of! Stop playing around the bushes and act like a professional and knowledgeable investor! Please provide any information you have for the benefit of all shareholders of this iHub. Thank you.
P.S. You posted 50 minutes ago and just about everybody here wants an answer from you. You have become very popular suddenly and probably are unable to accept the fact that basically no one of this site has anyhing against you--we just want to get to the truth.
Anna3, it's tough to be in your position when many posters are feeling down even though their posts reflect confidence. When you see the last trade at .024 showing that someone sneaked in a buy order below the ask you just before closing time you wonder what's going on with the market makers!
Nonetheless, nothing matters now until a newswire like Dow Jones issues an official news release (last news release dated June 30). There is also Reuters which is available for those who trade with Schwab as I do. The last Reuters news release is dated June 17.
Therefore, the only information that is considered the latest is what some posters (including me) have been provided by attorney Preis stating that two different companies are involved and that the information provided by the news agencies concerning the zero value of common shares pertains only to the other company, not the Q listed company.
Please call the attorney youself; I am sure he will talk to a knowledgeable person like you in a curteous manner and then you can report to us the way you understood him!
Arik Preis
Akin Gump Strauss Hauer & Feld LLP
One Bryant Park
New York, NY 10036
Phone: (212) 872-7418
Cell: (646) 483-2957
E-mail: apreis@akingump.com
Has anyone contacted Brad to get a scoop on the Annual Report filing?
JK1,it looks like we are being made to wait almost until the last day of filing before we see the earnings??? It's either tonight, tomorrow morning or after the close tomorrow! You have developed nerves of steel since you realized that this stock was not going to explode anytime soon! I sold some FCPG shares so that I could get some exitement in TSTRQ (I might have made a big mistake).
JK1,it looks like we are being made to wait almost until the last day of filing before we see the earnings??? It's either tonight, tomorrow morning or after the close tomorrow! You have developed nerves of steel since you realized that this stock was not going to explode anytime soon! I sold some FCPG shares so that I could get some exitement in TSTRQ (I might have made a big mistake).
Since you are the one with the largest number of shares on this board you should get this link which I posted yesterday along with some comments made by attorney Preis concerning the defference between the 2 Terrestar companies. If you missed my posting maybe you can comment on it after you read it (if you look for it and find it--with so many postings I did not keep tack of the posting number).
Anyway, I am including again the link that the attorney sent me so that the information that was filed after the hearing could be understood by all of us. Maybe someone should look at that carefully so that there will be no more arguments about the common shares.
http://www.terrestarinfo.com/maincase.php
P.S. I have to tell you that the attorney really got angry when I mentined that Reuters, DowJones, and some other newswires had reported that the commom shares were worthless. He kept stressing exactly what some of our posters have been trying to tell the naysayers that there is a difference between the company involved in the bankruptcy and the other Terrestar company with the Q.
ScooterHenry, are you still long at 1.3 million or have been more aggressive today? I decided to add 35,000 more, am now up to 185,000--nothing to be ashamed about if you feel positive about this stock. Do you remember seeing my recent post where I had placed you among the top 100 shareholder? Based on 159 million outstanding shares you hold 1/159th of the big pie--sounds funny but there you are with the big investors1
Sorry, I just stopped you from buying all the shares being sold! I Just bought 35,000 at .0239. LOL!!!!!!!!!
When we become fearfull we go into a state of panic and we do irrational things.
Do you believe people from this board are the SELLERS??? I hope not, unless thay have found another more promising invesrment. It's tough to see your paper profits disappear.
Do you agree with me that because nobody has any definite information this stock is not moving in any direction and the volume is miserable. Everyone is waiting for some real news from the company, and unfortunately that will not happen any time soon! They are also going to be tight-lipped until the financial data of the settlement has been ironed out. Oh, yes the first payment on the agenda will be to the company who is charging 24 (or so)million a month in interest!!!That alone helps a lot!!
I am glad I did not mess up understanding what he said during the 15 minutes that we were on the phone!
I should have mentioned that Mr. Preis was very kind, detailed and used the accurate names all the time to separate the two Terrestar companies and which one was involved in the outcome of the hearing that took place. I must be exused if I did not understand completely all that he explained but I believe that in my last posting I expressed the position that seems to be relevant in this case--the Q company destiny is not known at the moment!!! Please let me know if I got things right!!
I believe that one way or the other this Q company will be listed for a long time to come, until all bankrutcy claims are settled which could take many months from now.
It seems that the answer is very simple.
Some analytical posters gave already the right interpretation! There are two companies involved in this banruptcy but only one set of money from Dish. The first company gets paid a certain amount of money and the rest will go to the company that is listed--that's us.
We do not know right know what amount of money comes to TSTRQ and how much will be left after secured creditors get paid. That will be determined around July 25, I think.
The bankruptcy of TSTRQ is separate from the one that just took place.
I was advised by Attorney Preis (and I hope I understood properly)to look at information filed after the bankrutcy hearing so that it can be understood what is coming next. I am providing the link he was kind enough to email me and I hope that one or more of you can search and hopefully find a good answer for all of us!
http://www.terrestarinfo.com/maincase.php
One more thing. In my opinion, if some big shareholder or investment company knew the answer we WOULD have seen today 30 million shares traded and the price would have gone either up a lot or down a lot. NO ONE REALLY HAS AN ANSWER RIGHT NOW!!LUCK OF THE DRAW?????WHO KNOWS?
I wanted to be sure attorney Preis understood clearly what we were talking about. I just sent an email of my own. I will post the answer when the response is received.
Dear Mr. Preis,
In your statement indicated below : "Are you a common equity holder of TSC?" are you referring to a holder of the common shares identified by the symbol TSTRQ which are traded on the Over the Counter Market? Yes I am a holder of those shares.
Please let me know if a company news release will be issued today.
Thank you for the detailed email information. Good work.
LOOKS LIKE i SPOKE TOO EARLY. Everyone has deserted this board today....Fear, Disgust, Disbelief,.....
Last 0.0286
Change -0.0014
Has anyone made a phone call to the lawyers who represented this company at the bankruptcy hearing? Did someone attend on behalf of the shareholders? What is the next official statement that this company is expected to make? The employees of TSTR keep their jobs,top managers stay in place but the common shareholders have no value and no say anymore? Is this what's coming to us!
Some of you with plenty od knowhow should really contact all the sources available at TerreStar and get an answer today. A simple news release would clear up all this confusion and allow the shareholders to panic or to rejoyce!!!!.
I believe that some of those bashers were funny and kept us on our toes and close to reality. I hope we make it today>
THE FIRST TRADE OF THE DAY: .031.....5000 SHARES AT 9:30:09.
ANOTHER 69,300 AT THE SAME PRICE???WOW!!!!!!!!!!!!!
NITE 0.0289 225000 shares
Look at this bid number above.
If that many shares are on the bid side, why are these buyers piddling with 2-3 subpennies instead of buying at the asked price of .0292 and .03. I don't think these bidders have complete confidence that this stock is going to up to .04 or higher today!!!
You might be right in which case when the news comes out we will immediately drop into the sub-penny category! .009---.008---.007, and worse! That's life. My question to you is:
"Are you invested in this stock right now"
"If you are not invested now, are you able to short this stock now so that you can make big money if your statement is correct."
If you are here just to help us, please provide your evidence instead of just making meaningless statements.
To get this stock moving up the BUYERS must continue buying at the ASK price and keep the momentum going!!!
BUYING AT THIS LOW ASK PRICE MEANS THAT THE BUYERS BELIEVE THAT THE COMMON HAS VALUE WHICH WILL BE CONFIRMED WHEN THE NEWS COMES OUT!
I imagine most of those on this board are already fully invested, but otherwise if you are buying and you feel confident place your order at the ask price!!!
Any reason why people are not grabbing shares at .033, 0.034, 0.035? Why are they being so conscious of 1/10th of a penny if they really want this stock. Is this what is know as "sub-penny pinching"? LOL!!!! Looks like today will be a bumpy ride day with no definite idea which way to go. No news means strictly speculation one way or the other depending on what we believe!
All the manipulation in the world is not going to stop this stock from doubling today if the buyers are all those iHUB people who have been posting a positive view of the buyout!!!All those who believe thay the commons will survive have nothing to lose!!
Remember that as each buy order gets filled today none of those buyers will sell their shares until they either double their money or until the big news comes out! Therefore because fewer people are selling today the price of this stock has nowhere to go but UP,UP, UP.......
Someone recently posted that he owns over one million shares. That really means that he has a 1/169th share ownership in this company. Then I remember being mentioned that Citibank owns about 20+ million shares which gives it 20/169th ownwership of the company. If we go down the list like that we may determine that maybe 100 people own 80% of this company common shares. If these people simply hold steadfast with their shares the float will be so low that tomorrow the price of this stock has nowhere to go but up!!! MORE BUYERS THAN SELLERS.
novicetrader, in the middle of last week two things happened. First, for some reason I had to log in again into iHub in order to continue posting. After logging in I noticed that for some reason my alias had reverted back to the one I originally used when I joined iHub in December 2010--newcomerFCPG.
From December to February I was known as newcomerFCPG, but then again when I had to sign back I could not remember the password and at that time I created a new alias FCPGalltheway which has been with me during these months when the market price of this stock has gone down. Therefore, please remember that newcomerFCPG is really not a newcomer any longer but it is the same person that you have recently known as FCPGalltheway.
Now that I have returned to the name I used when this stock was at its peak I really have a feeling that this has happened for a purpose--to tell me and all on this board that we are once again on our way up to achieve those prices that kept us exited and full of expectations of great things to come in those early days of December and January!
Until tomorrow!
choifunds, do you think that, based on all the positive postings that are coming out at this time, tomorrow's opening of this stock will be stopped or delayed because of all the buy orders that seem to indicate an uptrend opening? Could we be trading 50 million shares tomorrow? Is a 500% jump possible after the dismal closing of Friday?
If no news releases of any type are made by the company or any newsmedia agency, then all the trading tomorrow will be based on speculation.
However, we know that more than one person knows the truth which is probably under our nose among all those figures that were used for the bankruptcy. With so many posters on this board do we really know who has the right answer. And if the right answer points to this stock being worth zero, are we going to accept that as an answer? If the "zero answer" is the correct one don't you think we who hold shares are doomed to see the price go down to something like this:
0.0242
0.0232
0.0222
0.0212
0.0202
0.0192
0.0182
0.0172
0.0162
0.0152
0.0142
0.0132
0.0122
0.0112
0.0102
0.0092
0.0082
0.0072
and further down.