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That should show the judge were he stands with the company...it should be an open and shut case.Lets get on with building this company.
Surely Swift know what is going, your right he is the man in charge...I can see the sweat when he goes back to court.
Swift and his BODER's are a disgrace to any form of business specialy when it comes to life saving drug business to help the ones in need
Xechem has given instruction to its local agents to allow due diligence to proceed in Nigeria.
Who in Xkem gave permission to enter the facility, and it will be interesting to see how Swift answers these questions in court after being refused entry in Xkem.
Imf, great job. May I ask how manyt creditors are on our side.
Mr. Draper You should ask how Swift sleeps at night knowing all the people he could have helped and didn't....Tell Swift this is not Swift's company to ruin.....EVERY SHAREHOLDER WANTS HIM OUT..AMONG OTHER'S
WHAT DOES NOT HE UNDERSTAND
Xkem is not BK yet the judge has to declare them BK, right know the court is just listening to why they should become BK.
Lmf, any idea what Swift and other BODers are doing or up to lately.
We all know things take time, but the longer this drags out the longer people living with this decease suffer
Thanks Raven for the explanation
Then he should resign and save us alot of headaches
This is what I don't understand, if Swift is trying to sell the company............what's there to sell if they lost the license to Nicosan............nothing left
Sorry to hear this, I hope you or the lawyer brings all this up in court. I hope the guy with money is pissed off enough to buy Xkem and personally oust Ireti.
Morning, anyone know when the next court date is
DD we all know Dr Pandey cares, all I was saying is without Nicosan Xkem is just a shell, nobody in their right mind would take over a shell with all those shares and creditors , he could start a new company and issue new shares of the company to get things going. We need to have the Nicosan license stay with Xkem and time is ticking.
Personally with the lawyer that was hired what could we and creditors gain if we win the company back but loose the license
I agree that the Dr has good intentions for everyone, but that depends if Nicosan stays with Xkem. If Nicosan doesn't it will be nothing but a shell company, he could start up another company clean slate.
Time here is of the essence, we can not afford for this to drag
on for months, if we do get an extension for a month that's how much time we have to convince creditors and judge to implement the plan Lmf has planned.
Without Nicosan Xkem will be just a shell company, why would the good Dr want to take control of Xkem and all those shares we own. When he can start a new company...new drugs and no headaches.
So if Xkem has lost the Nicosan license there is nothing more worth fighting for, since Nicosan is the backbone of Xkem.
Thanks Lmf, hurts to think were we should be at this point in time.
Imf, when and if you have lunch with Swift you could remind him ALL SHAREHOLDERS and creditors don't want him associated with this company it wasn't his to begin with and destroy it and never will be...........so take a hike he is an unwanted man and never will be.
That's a great idea, I'm still trying to pull some cash together to send in. To bad the lawyer doesn't accept shares of Xkem.....I for one would not hesitate to give LMF a portion of my shares if all wofks out.
Good morning all, when is the next court date.........any developments happening
Why would someone write a report on a company the is going BK, and it cost $400. Something must be brewing hopefully it's good.
That's what we are hoping for, one or the other getting rid of the current BODers or exchanging old shares for new.
Actually it wasn't another Nigerian ripoff..........but another USA ripoff to add to the list of many this year, as far as I can see Xkem is a USA company.
USA seems to lead the world in ripping off shareholders, oh yes the land of opportunity..........as long as you think about lining your pockets and not others .
Imf, it wasn't addressed at anyone in paticular. Just hope this gets resloved quickly. Trying to sracp up some cash to send in.
About Chapter 11 bankruptcy
Last update: January 15, 2009 - 9:46 PM
What is Chapter 11 bankruptcy? It's a voluntary step companies take to reduce or eliminate their debt. "Chapter 11" refers to a section of the U.S. Bankruptcy Code.
Are they out of business? No, that would be a Chapter 7 filing, or liquidation. In Chapter 11, companies continue to operate. Their stocks and bonds continue to trade. But bondholders stop receiving interest and principal payments, stockholders stop receiving dividends and debt payments are suspended to give companies time to develop a reorganization plan. That's why you often hear about a company operating "under the protection" of Chapter 11.
What happens after a company files for Chapter 11? A trustee appoints committees to represent creditors, bondholders and shareholders. The company works with the committees to develop a plan to get out of debt. The plan must be accepted by all groups and approved by the court, but a bankruptcy judge can impose a plan over the objections of one or more groups.
Are all creditors treated equally? No. Secured creditors such as banks and equipment makers -- whose loans are backed by buildings, property or equipment -- are repaid first. They may have to accept lower interest rates, or some of their debt may be converted to stock in the company when it emerges from bankruptcy.
Unsecured creditors, a group that includes everyone from bondholders to the landscaping service, are next in line.
Bondholders may receive new stock in exchange for their bonds, new bonds or a combination of stock and bonds. Trade vendors may get a fraction of what they are owed. Shareholders often get nothing or a small number of shares in the reorganized company.
How long does all of this take? Bankruptcies can take anywhere from three months to more than a year to complete.
I hope it happens sooner then later, we need a plan to present to the judge with shareholders and espeacialy creditors on board can't see how a judge wouldn't except it with the creditors approving it.
In ant BK the creditors are the ones that usually force a company into BK demanding their money, but with a very carefully planned out business plan they are better off coming on board, rather then loosing everything.
One would think the court would want to hear about the company and all that has being going on, before the court ruled to go through with the sale............that has been sold for nothing.
And I would guess that VCU don't really care what happens to the 5-hmf, or they could have had a big voice in were it lands.
That's exactly what we are going for, stop the BK with a plan that will keep creditors and shareholders from loosing everything. We should have the support of all creditors.....they have everything to loose and everything to gain.
Good to hear from you Lmf, but if we are going to contribute for an attorney we should at least know what going on in the court proceedings and were we are going.
CHICAGO – Nearing completion of his Cabinet, Barack Obama plans to choose California Rep. Hilda Solis as his labor secretary, a labor official said Thursday as the president-elect named three veteran regulators to help clean up financial debacles.
Obama blamed much of the nation's economic troubles on government regulators who "dropped the ball," and he called for a return to ethics and tough enforcement.
Obama planned to announce Solis' selection on Friday, along with that of Republican Rep. Ray LaHood of Illinois for transportation secretary. The incoming chief executive is trying to get most of his major appointments out of the way before heading to Hawaii for a holiday vacation, and has held a news conference each day this week to unveil top positions.
He has yet to announce senior intelligence positions or his choice to head the Office of U.S. Trade Representative. And, numerous sub-Cabinet posts remain unfilled.
Solis, a Democratic congresswoman who is the daughter of Mexican and Nicaraguan immigrants, has focused on immigration and environment issues while in the House. The official who disclosed Obama's decision spoke on condition of anonymity because an announcement has not been made yet.
Standing before reporters on Thursday, Obama named Securities and Exchange Commission veteran Mary Schapiro as chairwoman of that agency, former Treasury official Gary Gensler to head the Commodity Futures Trading Commission, and law professor Daniel Tarullo to fill an empty Federal Reserve seat. All three will need to be confirmed by the Senate next year.
In making the announcements, Obama pointed to Wall Street money manager Bernard Madoff, under investigation in an alleged $50 billion fraud, and said the scandal underscored the need for tougher regulators. The scandal "has reminded us yet again of how badly reform is needed," he said.
The president-elect said his new team will help put in place new rules that will help "crack down on the culture of greed and scheming."
"There needs to be a shift in ethics on Wall Street," he said.
BigD, good to hear from you, unfortunately you size 13 may be to small you are going to have to use both feet.
We all know you had quite a large holding in Xkem, did you liquidate it all if not Fiat and Lmf will need your count. You probably already did if you did not liquidate it all. Hope all is going good with the restaurant.
These sort of emails have being going on the past 20 years
Morning, Montys email is listed on the top of the post page
That's strange, every one is concerned about Nicosan and asking were to get and Swift couldn't increase sales.
Our main objection in all this is to stop the BK and get Xkem back on track and start selling
Thanks Lmf, how can they say they can't sell Nicosan in Nigeria with 3 states buying that we know of, they have a buyer for Xkem WOW wonder who this buyer is, why wouldn't they sell the the 5-hmf with the company and how long have they being negotiating with this other company.
1). They are in negotiations to sell Xechem Nigeria.
How can they negotiate the sale of a company without even being granted a BK by the courts yet, this again shows they had this planned from the start
Hope we get a great plan together to present, one that all creditors and shareholder will be happy with excluding Swift, Burg
Anynews from the hearing today, wodering how Swift handeled the pressure
What time is the hearing today, I would assume in the morning.
Are you attending Lmf or anyone else, can't wait to hear what went down.
Sent you an email fastw
At least it keeps this board active.
If that were the case wouldn't he be in the same boat has we are owning shares, unless they are planning trade old shares with the new ones.
If we manage to get rid of Swift and reverse this BK (since it hasn't being granted yet) the stock price should start to move north with a PR that lays down the new plan.
I'm still trying to understand it, never traded currencies before. I downloaded it and bought some currencies showed a profit of over $3000.00, so I sold and then after I sold showed I lost $1400.00 LOL.