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Good info, as always, thanks for sharing and outlining good points.
Thanks for the message as well and share of that. wish I could message you back
by the way, I saw this the other day, is this similar to what you were referring to?
http://www.patriotcaseinfo.com/pdflib/805_12900.pdf
I would give credit to the person who shared it, but I don't know if they want the credit or want to stay on the down low. Either way, it wasn't me who found and shared it.
what is annoying is it was supposed to be today, but has been pushed to Dec 11th.
Thoughts? Opinions?
could it be possible they are waiting on the release of some disclosures, such as what PCX states what they are going to do in the BK and recovery outline?
From there they will see IF they need to take action since the disclosures may show that they plan on doing "ABC" when they were hoping for "XYZ"?. Or is it too late for them to take action after so long, and/or after disclosures on recovery plans have already been presented?
Just trying to figure out WHY they are waiting to do anything (besides what you also pointed out that they may also hold some of the debt as well)
I see a lot still held, so not sure why NONE of them have done anything.
Good share, Sam. I've been watching this one:
http://data.cnbc.com/quotes/PCXCQ/tab/8
This one shows up to date as of 10/11/2012. You can see all of the holders. One of them owns $56 Million worth (2.4 million shares). As you mentioned, this is probably one of the big holders BEFORE BK. There is one that owns 7.6 million shares for only $9 million. They probably bought post BK. Unless I'm reading it backwards.
Looks like a few bought some good shares post BK, so it will be interesting to see why they did it and why a large amount. I doubt they know more than us, but then again, perhaps they do.
I also believe decision should be coming very soon that it will be staying in NY and probably why we are getting a good pop finally
excellent, always appreciate you sharing this good info!!
So once we have more disclosures, and they do get the EC appointed, how do you think the PPS would react?
I still see we haven't heard on the decision on location yet. I'm hoping when they announce it will stay in NY, it will jump up a little bit. Then after more disclosures, and the EC being appointed, we will be way higher. Thoughts?
I would love to jump into something else, been sitting on this for so long I haven't jumped anything out. however, it would be nice to jump out and go into the other you mentioned, make some good money back and then get back into PCX.
wow, very interesting. It would have been nice to have it meet at the original date of October 11th but is now moved 2 months out. Any idea why?
What does this ultimately mean in the grand scheme of things? I would take it as a huge positive piece since they are wanting to get the shareholders represented with its own committee.
haha, you and me both!
Yeah, that's where I was "getting ahead of myself". I thought a decision after the deadline was going to happen. However, we won't really know. Good chance this afternoon, or Monday, but could be sometime next week. I wouldn't think a decision on it would take too long. Something tells me that it was probably already decided on awhile ago and they are just doing their "formalities".
thanks Ernie for correction. I posted the wrong stuff, my bad
yeah, my bad, as Ernie pointed out, today is the day for the deadline of the filings on the matter.
I was "thinking" it was today they would make the decision.
my apologies on that.
LOL! I thought common sense would have been apparent when someone puts up an article to bring down any piece of positive news to state the obvious, which is that this stock is not in one of these articles. It's only obvious that this won't be mentioned due to it being in BK. Who would mention a coal stock, or any stock, that is currently in BK.
This stock is up 4% or whatever, like the other coal stocks. Hmm, looks like its pretty much the same as the others.
Don't need a name drop for it to really matter. The main emphasis is "coal" in general.
never mind, my bad, I don't mean to state the obvious and keep countering your points to keep shooting this stock down every day. I mean, its so obvious you are one of those that are betting that the stock plummets. You don't want this stock to succeed. I mean, why else would you waste time on a stock that you don't own any shares in? That's like going to a park to watch kids play, and you don't have any kids. that's just SICK, not too mention perverted. Is that what this is? you're a pervert getting off on people losing money on a stock? what a sick and twisted person. tisk tisk.
gee Mr. Negative Nancy, do you really think they are going to post a coal stock that is currently in BK state?
ahh, I stand corrected!
This should also pop up tomorrow and up coming weeks as the decision to keep the case in NY will be made tomorrow, October 5th.
Along with Coal being competitive with natural gas, it also look like Mitt Romney did a good job on the debate last night, which edges the Republicans to the white house. This would be HUGE for coal.
I'm expecting huge gains pretty soon. hopefully those that are still holding make out, or at least get most of your money back (if not all). But that's just me, trying to be positive for everyone
you see lots of sharks on the PCX ticker?
I would think there is a lot of value. Hate that it has stayed this low for this long
Decision on a lot of things should be done by this Friday. One of the big decisions being if they are going to keep it in NY, or move it to WV.
So we should be seeing this pop by Friday or next week after announcement. Everything is pointing that this is going to stay in NY
Very interesting, and good point. I think several others on the board on here were wondering why it hasn't popped up higher. obviously its mainly because of no positive news.
so you begin to wonder, why hasn't there been any news at all. You would think there would be something, but as you said, maybe there is a reason why. Could it be as this is a very large company and wants to wait awhile before releasing news? Or is it the obvious thing that its because there is no positive news yet.
definitely interesting to see how it keeps going then.
Yeah, that makes perfect sense. It would be smart to put them all into one, and then at the same time they are doing it so they can get the big chunk of money. I figured we wouldn't get anything, even if you were pre-BK
Hopefully we'll finally get some positive news this week. Would like to see this go up big for once
hey Ernie, hope you had a good weekend.
See the latest for PCX is now there are 4 different places jumping on the law suit. I haven't seen price jump much in either direction. I know we should hear this week about the decision to keep it in NY or move it
What is your opinion on all these suits going on? Will this make it go down more, or pop it higher now that someone is suing to get money? or will it not affect it at all?
been definitely annoying lately how it keeps going all over and dumping down.
I know winter is coming up, so I'm hopeful this will pop up huge with the demand of coal for colder weather. We should see all of that before they end the BK
Yeah, that's what I figured. Makes sense. Just shooting out "what ifs".
thanks to those who know for answering and confirming.
yes, agreed this is going to be dragged out due to the unions.
what you say does make perfect sense. it is the logical way that I had a feeling this would go. Just thinking hypothetical. Trying NOT to get too far ahead of myself
many thanks!
yup, makes perfect sense. I guess another question is, can someone (e.g. China or India) come in and buy it from everyone?
I would think that also means they pay off that DIP financing, and all other "debt" that PCX owes, and then they pay off whatever is left for them to own the whole company.
But yes, everything you explained makes sense. Excellent info, much appreciated!
Agreed. But does any other company even want to try and buy it now while its going through the BK process?
Has anyone bought a company while they are in BK process before?
Unfortunately, I think IF anyone was going to buy it, it would be AFTER the BK process as they also want this BK to get rid of or most of the Union and all of the people that retired. The new company to buy them out probably doesn't want to be responsible for all of that. Once that is done and gone, then someone may come in with an offer.
Would definitely be nice to know IF they even HAVE any offers on the table or IF there is anyone that is showing interest. I guess they couldn't release that info. But, then again, you would think it would get out "somehow" via a rumor that someone is and would drive the price up, so it would also perhaps help with the sale showing the value is no longer in the pennies, but in the dollars. Someone could be low balling at $1 or so, but they want $10 and no one is going to meet half way. If the price gets up, it could help. Then again, perhaps upper big wigs at PCX doesn't want to sell anyways as they know once this emerges from BK it will go way up again. Obviously not caring about current holders either
I wonder how all the new released info on all the recent class action law suits will affect the current price. From the sound of others, this appears to happen a lot with a huge down fall of the price.
Has anyone seen this affect the current price to go in either direction? meaning, with all of these suits coming to light, has anyone seen it spike it up, or down due to the filings?
I would think it may help it go up considering others may think that they will get something out of it. Not saying manipulation, but saying it may be a factor on the price spiking up on the fact that there is now a good chance with a law suit that share holders will get something out of it. I'm just thinking out loud on this and I could be WAY OFF.
Would also be interesting to see the final decision on the share holder committee formed, and the change of venue decision. I think (from a good source) that we may see at least the venue decision around Oct 5th.
big gambler! But I'm sure it will pay off for ya!
Hopefully that will be the case for PCX and eventually get to $2 as well. Like you said, recent law suits of the ambulance chasers will make it tough.
wow! that is awesome! congrats on the big spike! Now if I can only get PCX to do that
I hope it keeps climbing for ya!
Hey Ernie, hope all is well!
Have you been reading up on the 2 law suites recently posted on the PCX board?
What are your thoughts on these? Will these help push the price up at all?
I know that is for all pre-BK people so that doesn't apply to me since I jumped out before BK and jumped back in post-BK. Just wasn't sure if that would help the price at all.
Well, I guess that's NOT too far away then. Waiting this long, guess we can keep waiting for final decision for a couple more weeks. Hopefully we will see a nice build up until then and price will keep going up and then maybe a spike after confirming it stays in NY
Excellent and good info, Chevy. Much appreciated for replying back with this detailed info. Sounds very obvious post-BK with your points. Should have figured that out myself, but thought there could be more to it.
good analysis, Ernie, as always. I'm glad I checked with you on this because it did look kind of fishy in the first place. With obvious NO experience with BK stuff, I need to make sure I be cautious with things like this
very nice share, Chevy.
What does this really mean for those that held pre-BK? Does this mean Sam has hope of getting this attorney to fight for him (as well as others) to get something back after a huge dump in BK?
I guess the other question is, what about others that bought pre-BK AND post-BK?
Hey Ernie!
Hope all is well with you and having a good weekend. Saw this on the other board and also on my Fidelity site:
http://ih.advfn.com/p.php?pid=nmona&article=54267299
I had bought in a month before, but sold out. I bought back in 7/19 and 7/20. So not sure if this even applies to me obviously. I doubt it.
Anyways, what is your thoughts on this? Could this mean possible price jump again or something else? or am I reading into this all wrong?
thanks as always for your insight and wisdom!
Yup, I agree. Lots seem to know way before the avg person. I think the finance is part of it, but as you mentioned, the location is even bigger. A nice combo.
once its official, good chance this can pop, but who knows.
I believe its the change to the finance team, and the good chance that this is going to stay in NY. I would think the decision would be today, or really soon.
no worries, I try not to get into politics either! Everyone is entitled to their opinions and rightfully so.
I definitely hope Obama is booted out. I think we are in need of another "change". I was for the "change" in the first place, and once again, we are need of another "change".
That will help everyone I'm sure and I'm all for that. This will definitely help out in PCX.
yeah, I have a feeling Obama is going to win pretty easily, so I've accepted that "risk"
Was hoping a colder winter would definitely help
by the way, I couldn't help but notice all the 10k's that have been filed within the last week or so. I see a lot of them are selling or "disposing" of their shares. What is your opinion on that? Is that a tell tell sign? considering that they aren't keeping the shares and holding.
I have a feeling since I've waited this long, what is another 6 months if I can get out big.
I was also hoping that someone would try and buy them out soon so we don't have to worry about this, but doesn't look like it. But who knows.
I would think the decision on the venue would have been done already, not sure what the hold up is, but could be they are looking at everything before making the decision.
good info and great idea. I will look to start doing so. I think I may hang out until the colder season as that is typically where the good numbers with the coal will hit. I don't think this will be settled out of BK for at least another 6 months or so. I would "like" to think in the colder months it will spike up enough to maybe get me out in green, or close to it.
Either way, good info and I may look at doing that if it comes down to it
as always, thanks for your excellent input!
Hey Ernie. At what point would you even considering selling this and staying away, with all the recent press that I've seen.
So if they don't let a shareholder committee be formed and it DOES stay in NY, would it be a waste to keep holding?
I'm just looking at when to just cut lose and move on. I'm all for holding for a longer time if this has a good chance to break out. But, there is also a point where that may never happen. I would rather not get stuck with nothing. I know you are definitely waiting and holding out, but just looking at your insight as to what you are looking to do.
as always, thanks in advance for anything you are willing to share
thanks!
agreed. it seems they want to roll over everyone
good lord, guess we have to keep being patient and wait to see what they decide
thanks for the quick summary of it, it makes a lot more sense now. don't mind them trying to get this BK done and over with, but not steamroll all the shareholders to where they all get the short end of the stick. Or, in this case, no part of the stick at all.
will be interesting to see how the price adapts to these recent news
Here is a link to the full article so you can read it and not have to sign up for anything:
http://ificg.blogspot.com/2012/09/us-trustee-lobbies-against-patriot.html
One thing is for sure, this is not a good sign if they completely refuse to even let a committee be formed. They even say IF it gets moved to WV, then that judge can decide. It doesn't look like it will be moving anyways