So... what do you think that 8-K means? I see nothing but procedural items relative to the DIP financing package and how certain covenants are defined.

Why would the content of this 8-K matter to investors? Your help would be appreciated.

DOWN, AGAIN. LOOKS LIKE SHLD FELL OFF A CLIFF!

This crazy stock just keeps going down and down and the Christmas disappointment hasn't even settled in for a cold night's sleep, yet. More decline to come, IMO.

This has been a dream short while shareholders literally dropped their shorts for punishment.

Ah, the old "double whammy" of no spread and no volume = no S/P movement. Exide may have paid Sitrick over $700K for P.R. but there is clearly no news moving the needle.

How much of the DIP financing is left? At the end of August the link I posted yesterday stated it had already consumed $275 million. And this is going to wait until May, 2014 for a POR?

YOUCH!!!!!

Hey, it looks like party time for Exide shareholders. $7.7 million in Vernon. $66 million in EPA claims. $130 million in estimated Frisco claims. Whoop-de-doo!

As long as Exide processes lead, environmental claims will likely continue. But if they exit smelting, the book value of their assets plummets and they still have the liability of previous gaffes and toxic waste sites that somebody has to pay to clean up. Then there's the "minor" strategic flaw that most of their GM under the present business model relies on smelting for margin. As the Vernon shutdown absolutely PROVES is that with no metals reclamation, Exide is bankrupt and is unlikely to delay the inevitable from buying up so much garbage via flawed M&A with insufficient DD.

JMHO.

In 2011 Exide made an agreement with the EPA covering a number of clean-up sites totaling around $66 million in environmental contingency costs. This represents a tiny fraction of the more t6han 100 pages of potential liabilities contained in the link that I posted yesterday.

The link can be found on Bing under: Exide EPA Agreement. It is the first article that comes up and is from the EPA website.

The article is new but the info is not.

I noted in re-reviewing the report I posted yesterday that Exide shows restructuring costs through August of enormous proportions. Among the stranger of these is the over $700K spent with Sitrick & Company, their public relations firm. Anybody seen $700K worth of PR releases from the company?

This is shareholder's money being paid out for... WHAT???

Opening Macy's on Thanksgiving Day is a desperate, terrible idea. I hope management will reconsider.

Longs here are sure to become filthy rich. This looks like a sure tenbagger.

Looks like a strong buy. Load up the boat and become a wealthy braggart!

I would simply urge you to fully consider the environmental liability risk that bears enormous impact on the eventual determination of BK. Claims are constantly being made that assets exceed liabilities, which is true, but fails to consider the off-balance-sheet items including environmental items that can be considered by the court... if it elects to do so.

http://www.exiderestructuringinfo.com/pdflib/498_11482.pdf

The enviro items are on SOFA17 which spans pages 2096 to 2115 at the end of the court docket filing.

I am not predicting an outcome on any of these potential claims, I am trying to ensure that investors understand this is NOT a situation where just Frisco or Vernon are caught in some greed-grab for money by ambulance chasers. Most all these claims are sought by Federal and State governmental agencies who are only interested in remediation.

The "off balance sheet" enviro items are huge on the liability side in this BK, IMO. In the BK of 2002, the EPA granted a "pennies on the dollar" settlement on much of the outstanding litany of clean-up sites for Exide. It could happen again, I suppose. Then, again, the Feds could decide that "enough is enough" and extract a pound of flesh for all the toxic sites that Exide acquired for a short term profit at the expense of an eventual clean-up nightmare. Both Vernon and Frisco are excellent examples of this, IMHO.

There are no easy answers, here. Vernon is one of but two recycling sites for spent batteries in the Western U.S.. If the site is closed, where do all those car batteries go, landfills? It is somewhat like the parallel debate on what to do with all the spent nuclear fuel rods used in power generation. Most of them are simply entombed in some bunkered site, awaiting some kind of eventual disposition at somebody's expense which has yet to be determined.

Exide would have benefitted by exiting the Pb recycling sector ages ago and leaving these huge and costly questions to the visionaries in Washington that can't even keep our government open. LOL!

I hope that you are right. However, there have been instances where "limbo" dragged on for years and all the assets escaped while the common shareholders got left holding an empty bag. investor2004 would surely recall the Arcadia Healthcare mess which continues to churn over a year after all operations ceased.

Unlike ROHIQ, though, KADR shares continue to trade and investors can at least sell and take a tax loss.

Holders of common shares are now being held hostage in a bizarre stock purgatory where they cannot sell their shares and at least take a tax credit on the loss, nor has Rotech properly cancelled shares as the alternative method of accessing an investment tax loss. For investors filing quarterly estimated gains & losses, this can be an expensive problem and is totally unfair and, perhaps, represents the basest possible example of breach of fiduciary responsibility by the Board of Directors in a debt for equity swap that wipes out common shareholders equity and even denies them access to a tax loss offset, as small as that is.

Disgraceful.

No point in answering a rhetorical question, but there are distinct differences between Exide BK#1 and BK#2 that are worth a brief comment regarding the future outcome.

The 2002 BK was a result of incredibly stupid M&A and a resulting balance sheet bludgeoned by obscene, untenable debt. The new BK#2 is a different animal that at first glance seems unnecessary, driven by an arcane combination of volume loss (Walmart, OEM's) and enviro-legacy bally-hoo'ed by the Vernon shutdown but endemically replicated in a scary, encyclopedic litany of EPA and related agency challenges that eventually must be addressed and paid for or walked away from under some semblance of governmental capitulation (like in 2002).

There is no definitive answer to your question on the future because no plan is in place, nor does it appear one is expected until mid-2014 as the restructuring team completes their proforma and then the BOD and the Court approve the future course of action. I personally do not think all common shares will be cancelled, this time, but I do not see them being worth much if the enviro-risks are at long last dispositioned once and for all and not just "kicked down the road" for the next few executive management teams to collect their $16M bonus awards for avoiding the inevitable risk that the shareholders eventually own.

GLTA.

Your analysis applies sound trading strategy. Kudos. Sometimes I think these computer trading platforms open up opportunities for retail investors inasmuch as the machine can only comprehend metrics and technical trading parameters. It takes a human being to identify and comprehend the impact of news on S/P momentum. It is often possible to "scoop" the machines and move in or out before someone on the automated trading desk can react.

For this one, news and PR are severely limited and much of it is hard to decipher inasmuch as the Exide Empire has so many bits and pieces that function under the Exide brand identity, but are no longer corporate entities owned by XIDEQ. I have responded several times to links referenced on this board that fell into this category of confusion in relevance. None of my content would ever be considered insider info, but much of it comes from offline resources where there is no link to post.

Watch the docket for exiderestructuringinfo.com and you can get an edge on the HFT binge buyers. Bloomberg News also tends to carry more items on Exide than, say, the WSJ as their international desk is unrivaled and much Exide news is driven from overseas operations where most of Exide's volume is derived.

GLTA.

Here's a tip for you. XIDEQ has 79.6M shares outstanding. Much of the trading action on Q stocks (AAMRQ is an especially good example) comes from overseas players occasionally claimed to have Macao Gambler's Complex... a fallacy of logical but flawed reasoning that what went down must go up (like the roulette wheel landed on black four times in a row, so red is sure to hit, next).

In the case of Q stocks, simplistic assumptions are made like "assets outweigh liabilities" so somebody compares balance sheet equity to potentially compromised liabilities and assumes that this amount divided by shares outstanding indicates a fair S/P. Now to my point...

There were NO Form 4's filed during the extreme volume days that drove the S/P to $.59. This PROVES that no whales were driving the run-up based on inside info or proof of some pending, secret deal to exit BK. The "drive to $.59" was almost precisely the reflection of mathematics where the initial shareholders equity was divided by the # of outstanding shares. Do the math; it confirms my opinion. Now take the revised $33M shareholders equity that was in the Docket filed on 9/23 that stated the amount had declined to $33M. The math on that change shows why the S/P dipped.

Watch the filings and any PR on resolution... positive or negative... on the plethora or legal and environmental off-balance-sheet items for clues to future S/P movement, up or down.

If this is too much work for you, just play with pin money and bet with your heart, but it will be gambling, not investing.

Good luck to all.

The trading range can only be exploited to the extent that daily volume traded remains relatively high. Watch the volume. At $.30 share, it takes huge numbers to net any big gain, long or short. As a retail player, you are competing against both funds and hedgies, plus in a Q stock the arbitrageurs who also weigh in with HFT platforms at the expense of the retail investor.

High trading volume: trade the range. Low trading volume: high risk of exploitation by MM's playing the spread and whales affecting the S/P with volume bids/asks... like what happened during the laat run-up to $.59.

GLTA.

Hey, the intrigue, spirited discussion and massive and occasionally conflicting DD performed by posters on this board makes the experience worthwhile, win/lose/draw. That said, where's my dime per share. LOL.

GLTA.

J.T., be well!

You missed my point on M & A direction. The McK deal, if it completes, isolates CVS as unique in the position of a drug chain partnered with a PBM. Walgreens, alternatively, would be a growingly global drug chain partnered with a drug wholesale leviathan. They would argue, but realistically the only value PBM's deliver to the Rx cost pyramid is mailorder. I am suggesting a new model may be developing whereby a partnership between brick and mortar drugstores is forged with drug wholesalers and the PBM gets cut out of the pyramid as just needless cost. This is not farfetched if the government weighs in on allowable reimbursements and PBM's serve no other purpose.

The arrangement between Walgreens and ABC was initially to alleviate DEA pressure streaming from the Florida OXY debacle. But it appears to be headed to a cost-optimized COSTCO model where the convenience mantra of yore is discarded in favor of a cost optimized delivery system that stocks only small quantities of popular Rx's in the store and other needs and most maintenance meds are centrally filled and delivered daily, supplemented by 90 day and mailorder, the latter being automatedly filled by the wholesaler but billed through the retail "arm".

In a global landscape, the cost of either strategic route is sufficiently high to make globalizing, retailing and wholesaling too expensive to pursue, if you wanted to do all three. Doubt RAD could any of the above for a very long time.

Huge, active, unrefuted rumor circulating about a pending deal between Celesio and McKesson ala the WAG/Boots/ABC deal. We may be seeing a new paradigm of global partnerships between retail pharmacy and drug wholesaling to drive leverage and synergies. The big loser in this trend, if confirmed, would be PBM's.

The cost pyramid of "too many cooks" must collapse to reduce needless spend on Rx's, especially the new branded "stuff" at high costs nearing the threshold of FDA approval.

Q stocks like Exide often trade inverse to the broad market. That is why many hedge funds play heavily in the Q arena in their efforts to maintain a market neutral position. I said yesterday that I expected Exide to go up with the rise in short interest, precisely as the last run-up occurred which I also predicted.

Don't waste your time. I tried calling. You get an automated operator that refers you to the restructuring website unless you are a creditor trying to file a claim under Medicare or a government program.

Nobody's home at the moment. Pretty strange for a newly emergent public company to go underground with lots of U.S. Government $$$ and a new corporate strategy borrowed from Dr. Hook & the Medicine Show: "Don't Call Us, We'll Call You."

Maybe ROHIQ's management team is now part of the Witness Protection Program and Alsene has changed his name to Mr. Magoo or Pepe LePew or something similarly stupid and arcane like everything else with this scam BK? If so, it will not have been to protect the innocent.

Weak volume and growing short interest of 4.6Mn shares sets up the MM's feast table for XIDEQ. Another spike and collapse in the offing?

Watch the spread between bid and ask. It was narrow, today. If the spread widens, expect volatility and a wild day with up and down action. Play the straddle and make $$$.

JMHO.

J.T., I think there is an interesting, ancillary issue in this "Never-Neverland" with Rotech common. The shares have been delisted, but not cancelled. Shareholders cannot trade, nor can they take a tax loss credit for their cancellation. Yet, Alsene came out with a statement that the BK was approved, right on schedule, exactly as management and the board expected. So... this being said... why is there no definitive position for common shareholders who are still in limbo with no PR, no filings and an investment in unacceotable limbo.

There are, IMO, SEC violations galore in this mess that some enterprising Attorney General may find sufficiently improper as to send a few Rotechies to Club Fed for an extended visit without privileges or Room Service.

I trade with Schwab and just checked my account... my shares are still there but not under ROHIQ but a cusip number. All trading action on ROHIQ ceased on 9/26 and the shares are not tradable.

I will likely buy some if it trades close to $.20 and trade out as it nears $.30 in a trading channel I see continuing for at least 6 months without some meaningful news.

There is no bad news. There is no good news. There, simply, is NO news, at all, exactly as like what happened during the original Exide bankruptcy. Everything spun, churned and marched in place forever while speculators anticipated huge swings up and down that never materialized.

I expect that Exide will update their report to the court around week 3 of October, consistent with last month's release, and I further expect that report will be the first of many more to come that admits that the company's debts exceed the company's assets. I further expect that trend to both continue and accelerate as losses from operations combine with costs from off-balance-sheet liabilities to hemorrhage all metrics... balance sheet, income statement & cash flow statement... again like what happened during BK #1.

Exide is a huge company. I can assure you that it did not file for BK as a lark or without reason.

After the last spike in share price a lot of claims were made about "big boys" stepping in and buying shares in advance of some spike in XIDEQ S/P to $.70 to $1.00. At that time I reminded the board that Form 4's would be required for whale purchases of Exide shares and, if none were forthcoming, the spike was nothing more than a short squeeze as the MM's shook out retail players.

As a follow up, NO Form 4's were filed and the S/P collapsed as I predicted would happen.

GLTA.

$7 million in Vernon cleanup costs is approximately 25% of Exide's total equity as reported to the court in the August 31 update. I posted that link earlier. I believe that this expense is in addition to the community blood testing commitment made earlier by Exide, as posted by another board participant.

Of course, Vernon is just a pittance in the compendium of potential environmental liabilities that Exide faces in its BANKRUPTCY! Read the statement of liabilities and assets that I also posted for background.

Exide is nothing like the American Airlines BK. ALL airlines faced huge obstacles after 9/11 and the recessionary collapse and all of them filed to reorganize after years of overcapacity and unprofitable expansion of the hub and spoke routing imperative. But only Exide chose to pursue a childishly ill-conceived global acquisition/domination strategy that incurred enormous, indigestible debt that now must be disgorged for a second time while its competitors like JCI PROSPERED at Exide's expense as a disorganized trainwreck.

The CLO's departure involved a court approved separation deal and was filed as a docket item, as we discussed several days ago on this board. No further question remains except for the always unstated reasons for her departure and my parenthetical observation that she didn't leave with any kind of fat deal except a used Audi and a laptop... whoop-de-doo!

I have no doubt that an Alsene stooge is tracking what people are saying. Who wants to have an extended stay at Club Fed?

The ROHIV symbol was initially listed in 2002. I think that it is unrelated to forward activity, if any is transpiring.

Many parts of Europe are economically in better shape than the U.S.. Real estate sale/leaseback arrangements have been around for 75 years to free up cash for better purposes like completing the A-B and ABC deals. Pharmacy is long term moving closer to a modified one-payer model where retail margins will be modest but consistent and the Feds will exert more pressure on reimbursements than the PBM's of today. IMO, controlling a wholesaler like ABC is a lower cost model for mail-order maintenance meds than a PBM with all that ancillary overhead.

I see absolutely zero parallel between Walgreens and WorldCom, Enron, etc. If you browse the latest financials the positive results are all from existing operations and even SGA is showing signs of much-belated attention by management. As for Trump Towers, that is a goldmine for Walgreens. Can you imagine how much hairgel and spray that the The Donald uses, daily?

GLTA,

Yank

Robb, I am not returning to this board for discussion, but I did want to share a few thoughts with you regarding Walgreens. All retail pharmacies enjoy an advantaged position vs. most large businesses because there are virtually NO bad debt losses and over half their Rx biz is grandfathered in for maintenance meds that it is perceived as a pain for consumers to move around. And unlike grocers and softlines retailers, there is very little spoilage in terms of expired sell-by dates. This is my way of saying that retail pharmacies like WAG... and CVS, Rite Aid... have a smoother path than many other sectors, made all the smoother by the fact that some 2/3'rds of their business is not elective.

I do not agree with all WAG's initiatives and, no, I am not changing my mind regarding the stupidity of sushi and brow bars in drugstores that want to be a compendium of Wolfgang Puck, Starbuck's, Ulta and the Mayo Clinic. But I do have to be prudent (bad word choice) and at least recognize that WAG's huge profits and unfettered free cash flow make the things I dislike almost immaterial compared to the working parts of their enterprise plan.

My family still owns a huge chunk of Walgreens stock. I sold mine. But I recently counseled them to hold what they had because I think there is a future, as I told them months ago when they were looking at the much lower share price and contemplating dumping it.

My opinion is that WAG will move between $60 and $70 per share, split, and go back up to $55 by the end of 2014. The Amerisource-Bergen arrangement is HUGE, and the Boots deal is just starting to pay returns.

GLTA.

No reply necessary.

The New Zealand auto battery operation was sold to RAMCAR and is not relevant to XIDEQ. Exide does retain a small presence in NZ under the GNB brand in the motive power segment which is unrelated to the "news" you reported.

At August 31, 2012, Exide had burned through $275M of its $500M DIP financing package. It's equity value had declined from $80M to about $33M and it reported a $23M estimated loss to the court for the August monthly update.

There should be a further update for September around week 3. The August report was issued on 9/23 and its content is linked to the restructuring docket in an earlier post of mine.

That's a handwritten request to the court replete with slanderous claims regarding Exide executives, complaining largely about the incentive compensation granted them by the judge. I see absolutely no benefit to common shareholders in the docket item.

No volume today.

This stock is dead money until next year, IMO.

#1. I am not complaining. I love the sport and made lots of $$$ on ISCA when it IPO'd. Sold at around $44 awhile back.

#2. When you are talking profits, you are looking back. I am looking forward. All those empty seats affect ISCA in a huge way because they bought up all those tracks from Penske and others so ISCA now hemorrhages when attendance declines. Look at the list. Michigan. Kentucky. Fontana. Louden. Watkins Glen. And on and on. NASCAR is not just Daytona ,Darlington or Talledega anymore.

The source of future NASCAR revenue is now dependent almost solely on the TV media stream. ABC/ESPN bailed. Now you have a future dependent on Fox (smaller relationship, less revenue) and NBC (terrible track record with prior NASCAR adventure... read Dick Ebberling's prior comments on stock car "debacle").

This sport needs new blood in leadership, especially with Helton retiring, and Joie Chitwood ain't the answer.

All investors in Exide need to read the release regarding their petition to the court to delay a Plan of Reorganization until May 31, 2014... as I posted earlier.

Apparently "somebody" thinks this HUGE fact is "Off Topic" to investors, some of whom are heavily invested here and might benefit from this "unwanted" information which was part of a public filing.

The detail is available on the BK docket for exiderestructuringinfo.

GLTA.

Wow, and to think that I apparently naively thought that a 100% gain on a short term trade was a good thing.

My bad...

Nothing wrong with my facts. Daytona hasn't sold out for two years or more and the Pre-500 events were largely empty. In fact, most of the other tracks NASCAR bought from Penske and the Bear Falily in NH were even more empty in 2013.

When Bruton Smith can't sell out either Bristol race, this sport's future is in serious question.

No fans, no revenue. No revenue = no pay off debt. No payoff debt = big trouble for common shareholders.

That's exactly what I have been talking about. There is no huge trading gain or loss to be achieved here until its POR is released and approved, barring an unforeseen event like a takeover offer which I do not foresee. But there is money to be made playing the channeling spread until a clearer future can at least be envisioned. All IMO.

GLTA.