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My understanding is that in chapter 11 the judge will decide what ultimately happens. If they cannot reach a deal with creditors and continue on into chapter 7 then all assets are sold and the last ones to receive anything is the holders of common stock. Almost all of the time there is nothing left for those shares. But if they can reach a deal the common share will not necessarily be wiped out. They do have assets of nearly 21B. Hear is more info for those that have not seen this.
SunEdison Files for Chapter 11 Bankruptcy Protection--5th Update
6:44 pm ET April 21, 2016 (Dow Jones) Print
By Peg Brickley and Liz Hoffman
Solar-power company SunEdison Inc. filed for bankruptcy protection on Thursday, pledging to curb a debt-fueled global expansion that pushed the company's stock to great heights before fueling its rapid collapse.
The filing caps a dramatic decline for a company that was worth nearly $10 billion last summer, when it nurtured plans to become a global clean-energy giant. SunEdison used a combination of financial engineering and cheap debt to buy up renewable-power projects around the world before the market turned sour last summer and investors soured on its business model.
SunEdison said it would use the bankruptcy process to reduce its borrowings, which stand at more than $16 billion, including the debt of two publicly traded subsidiaries, TerraForm Power Inc. and TerraForm Global Inc. Those subsidiaries -- separate entities known as yieldcos that buy operating projects from developer SunEdison and pay out cash flow to their shareholders -- didn't file for bankruptcy and said in statements that they have sufficient liquidity to continue to operate, though much of SunEdison's value is derived from its controlling stake in them.
SunEdison listed assets of $20.7 billion in court papers.
"Our decision to initiate a court-supervised restructuring was a difficult but important step to address our immediate liquidity issues," said Chief Executive Ahmad Chatila. "The court process will allow us to right-size our balance sheet and reduce our debt."
The company secured commitments for up to $300 million in loans to see it through bankruptcy from a consortium of existing first- and second-lien lenders.
A Page One article in The Wall Street Journal last week chronicled SunEdison's swift rise and fall. The company and its yieldco units borrowed heavily and sold stock to buy solar installations and wind farms in far-flung locations.
SunEdison spent more than $18 billion on acquisitions and raised $24 billion in debt and equity between 2013 and 2016, according to a filing on Thursday with the U.S. Bankruptcy Court in Manhattan.
"At its core, [SunEdison's] business is a 'deal-making' one," Patrick Cook, a senior SunEdison official, said in the filing.
The company's ambitious growth under Mr. Chatila eventually caught up to it when markets turned sour last summer. Shares tumbled, lenders balked and cash dwindled. SunEdison failed to close many of its signed deals, including the $1.9 billion takeover of Vivint Solar Inc. and the $700 million buyout of Latin America Power.
The company's shares have lost 99% of their value in the past 12 months.
The Securities and Exchange Commission and the Justice Department are investigating, among other things, whether SunEdison was honest with investors about the depth of its financial woes as its shares were tumbling, according to SunEdison's regulatory filings and people familiar with the matter.
SunEdison is slated to make its first appearance in bankruptcy court Friday, where it will ask Judge Stuart M. Bernstein for permission to pay employees, among other routine bankruptcy requests.
SunEdison also is expected to ask the judge to appoint an independent investigator, known as an examiner. Such requests are common in bankruptcy, but they are typically made by a company's creditors.
Wrong, down 5%
Yeh pretty much I am, as far as CRME goes I was hoping for FDA approval, but that didn't happen. They were trading at near $70 in '06 when their financials looked worse than they do now. So LOL that
I know he can buy at least $7k worth just from me, oh well live and learn!
Yes I am kidding, did you really have to ask?
I wonder how the new manufacturing facility is coming along?
Wow someone spent $1.50 on 5k shares
Looks like barton made (stoll) another $4,000 today
You're correct the bottom has come, .0001, but I doubt that it has gone!
I emailed them as well.
Got me for 7K, just because I could afford it doesn't mean I like it! One thing if a stock honestly tanks, but to get repeatedly lied to. Bi%@$ at kush lied to me on the phone, said everything was true and 5hh would be out "sooner than later". BS
Yup, looks like manny, chris and matt are all characters of ray's scam, I'm in for a law suit! Wonder how many shares he gave to the lying bi%@$ at kush to lie for him? They should all rot in prison!
Someone should come up up with a natural remedy for this!
http://www.aol.com/article/2014/09/10/popular-sleeping-pills-linked-to-alzheimers/20960217/?icid=maing-grid7%7Chtmlws-sb-bb%7Cdl14%7Csec1_lnk3%26pLid%3D527276
I agree things look better since Matt has been on board, I just hope it is not a smoke screen. At this point I might as well hold and hope for the best. Not to say I wouldn't sell a good portion if I got into the black. I would like to know what really happened to chris and manny though. GLTU
I'm not begging for anything and I have spoken with a lady at Kush myself, don't know if it was Megan as I didn't ask her name. BTW I have not sold and am down 80%, so I have a little bit of a right to complain when a promise is not delivered on. I own shares of Ford and if they said "great new model coming out in August" and it didn't happen I would ask "why not", thats all. Not asking for any news or pr that wasn't promised, it's not the news that is important it's being lied to that pisses me off. AND I don't want to hear from anyone "then sell and move on"....that is as bad as the retarded non-stop bashers.
I'm on your side here if thats what you want to call it, but Megan's track record is far from "mint". She PROMISED an update on 5HH in August, she's got a few hours left.
Agreed!!
Looks like 35 mil bought by someone right now to me
With 45 mins. to go, crystal ball is looking good!! LOL
I wonder what stage of their flipping they are at....guess we will have to check with Captain Obvious!
Here is Kush's tweet from 2 hrs. ago. ANAS!!
Kush Creams ?@KushCreams 2h
#SnorenzMedicated #5hourhigh #SeattleHempFest #justhavinfun! Come see us at #hempfest for more info on these products!
No Problem, I think it will all be good soon!
What I found interesting about it is the look of the bottle. It looks like the one in Kush's last tweet that had everyone up in arms. GLTU Go ANAS!!!!!!!!!!!!
Thanks for sharing, lets hope it comes true!!
I personally spoke with a lady at Kush last week, she assured me they are working with ANAS and that the pr's about it are true and quote "it will be out sooner than later", that is why I am holding here, If I did not here it from her I too would be a little nervous about the silence and Chris' disappearance. But I am completely confident in this deal (for what that's worth) GLTA GO ANAS!!!
And about 20M were in the last hour.
Yes but a green paint job is much nicer looking than a red paint job!!
Maybe Living Essentials, LLC is going to buy ANAS for 100 million! I can dream can't I! LOL (it would explain Kush's last tweet)
Who bought Kush??
Like crickets in a ghost-town around here!
Is there anybody moderating this god dam board?????????
66% of the money spent on ENTB today was in commissions! lol
It would be nice to trade flat for a while I scrounge up some cash to buy more!!
I'll tell you why IMO of course. I spoke with a lady at Kush yesterday, she was very nice and professional, I told her I saw 5HH on their website and was curious as to when it may be available. She saw right through me and her first comment was "I can't give you any inside information, all I can tell you is that the product is real, the PR's [on their site] are real and that 5HH high will be out sooner rather than later" I asked her if she was swamped with this question and she politely said YES. I thanked her for time and that was the end. BUT I can tell you that as polite as she was I could sense that she was sick of answering the same question, so my guess is that was the reason for the tweet. I can also tell you that I wen't from being a little nervous about this investment to looking to scratch up some coin to pick up more shares after the call. GLTA Go ANAS
You are very correct!!
I have spoke with Kush, you are NOT going to loose any of it!!
I would think that they would at least be tweeting more if that were the case.
Because ANAS owns the name, Many, many cola's out there but Coke is #1.
I'm trying to get some 4's but the order won't fill