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The numbers don’t lie, people do.
They beat estimates.
NDA’s expire tomorrow. Give an update in the last hour of trading. I’m 70/30 hoping for something good.
Status conference today at 2pm. During trading hours.
Hopefully we’ve been around long enough to know a dilution would be forthcoming if they give us shares and a big pullback.
So hopefully no one buys till after the pullback.
But I think many will be done here at the sign of any funds coming back. Now if it’s shares? That’s another story.
I was thinking maybe the buyback was happening, I called TD Ameritrade and they said there’s been no change in the shares available. So there might another 5-10% coming just from the shares being repurchased.
If COOP cleared a billion this quarter. Look for questions regarding dividends soon.
The next earnings announcement I believe is 11/1. We might be trading over 28 by then.
Well if we’re expecting more COOP shares that wouldn’t matter would it?
I don’t understand why 45/1? Would it be 45/3 if all 3B shares become active?
Good point Voo, got a friend who never turned in ballet. They were so quick to remove the shares she doesn’t realize what’s still going on. I wonder if we get anything, how will it be reported nationally.
And if it is...will old shareholders come out and inquire. I’m sure some law firm will be willing to take a chance at a 30% contingency fee after seeing other shareholders getting something. All it takes is one.
The only difference is we signed and they didn’t, but we’re still injured. Plead incompetence and roll the dice.
What time is new hearing?
Anyone reporting on the call?
Thanks Master, I did buy those bonds as a hedge when they were .38
You messing with my Wolverines??
Let’s just say he has an active imagination.
P’s are convertible. But after P’s get what’s owed I don’t think they are owed anything.
Yeah I’m thinking if good news is coming they drop this to .06 - .10 easily. Then run it back up.
I hope it has to do with their quarterly reports and how their tied to the old Wamu without the old shareholders.
I hope you’re right.
Who is COOPs transfer agent? Is it Wells?
Here’s something original...
I made good money on SPG over the last 3 months when they started buying smaller retailers. Yesterday in court it was said that JCP would move immediately to close 150 stores and they delayed this because they were in negotiations with Simon.
They then delayed the hearing on Friday and this comes out yesterday...they mentioned this on the SPG board and basically was wondering where will amazon launch all these deliveries from. They’ll need land. I thought the closing threat was a shot to Simon to get them back to the table. But maybe they were waiting on something.
https://www.cnbc.com/amp/2020/08/31/amazon-prime-now-drone-delivery-fleet-gets-faa-approval.html
I was looking for JCP to announce more closings today but it hasn’t happened yet and that’s why I thought it was tanking.
I think it was mentioned that Simon was in negotiations with Amazon and wanted to cut out JCP shareholders.
This is me...just wondering??
If they file bankruptcy they due, correct?
And that’s how creditors get control of the process.
I don’t think lenders do that. But this is my first rodeo investing in a bankrupt company with a “Going Concern”. So I wait to see what effect this has on any possible acquisition if any.
Lenders usually want it all, take it private and rebrand it with new shares.
Exactly, but if the lenders take over I believe there is a 30-60 day approval process. So this could still work in the EC favor if the value is proven.
That’s another thing that’s confusing. If 9/10 is a drop dead date. Why not push that out till after the EC hearing. If you get an EC do you hope to go back and renegotiate? Seems like they telling us talks might not work out.
This is a chance to flip though.
Any one watching the falling knife?
What do you think this means Royal?
I’m not sure if the lenders are the stalking horse. Do you identify the horse? They clearly said there going to the lender to see if a deal can be had.
That’s why I’m interested in what the NDA’s say, they’re supposed to be available after 9/10.
Well there’s 9/10 to see if a deal could be done. Then the article from Reuter’s that said basically JCP is done without a deal.
So there were good reasons to sell.
Although I don’t understand why the court ordered an appraisal if no deal can be made on 9/10.
Well at least they didn’t accept the low offer. I’m wondering what will happen if no offers are accepted.
Are the junior bonds trading higher?
Seems like it doesn’t make a difference if they get a new value of 8B if someone is only willing to pay 1B then your worth 1B.
Looks like the new Kmart is in play. Buy em low, cancel out shares, revaluation after all is better and issue new shares.
Can’t open that page without subscription.
Is there a new evaluation or Appraisal being done and due in early October?
If so why?
That’s a good point. But they can restructure. They don’t have to sell. The debt vs cash tells us this.
So either we get bought out or come out of bankruptcy.
Seems like Amazon is lurking in background and Simon group is trying to undercut JCP shareholders.
I don’t think that’s necessary, everything from the article came from the docket.
Yes, there’s been an open narrative by the debtor to not allow assumptions for buy out prices. A full EC puts them at the table and allows access to all research and communications. Putting emotions aside, if the Ad hoc committee can establish value without holding people legally liable, I think the judge goes that way. It’s not the first time shareholders have been screwed in bankruptcy and this won’t be the last attempt.
All we want is fair value.