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MS, REIT is where its at. Thats the money. Now everyone knows why soltau and the seniors tried to rush this thru CH 11.
A future dividend IMO would only happen thru the 'new REIT' company, which is why I am now a buyer.
The corrupt IMO soltau board let slip just enough silver nuggets in the filing that justify buying here and holding for whatever settlement happens.
As soon as they starting talking about that 'split' into ongoing retail/REIT, I knew they were deliberately hiding value/undervaluing assets. Ive seen it too many times.
Why is 'THE RUN' even happening?
Agree. If the CH 11 is shortly dismissed there will be another significant pop.
Squeeze trigger test 50 cents IMO. Gaps dont always have to fill. Charting does not apply to pinksheet Qs.
Stinky pinky sell algo's dont want this to touch 50 cents.
Vermillion went from 6 cents to $24 if I remember right. I think it was VRMLQ at the time. I could be wrong, but if Im right that has to be maybe the best bankrupt pinky of all time. JCPNQ could hit dollars but Im not seein $24 under any scenario.
VRMLQ only had something like 7m outstanding. Big difference from 330m.
MS, yeah these early morning algo-boys are funny. One of them got in to the office early and bid .33 while ask is still .322.
All of that will change between 9 and 930.
But for now, bid higher than ask. What a joke.
Best to consult an attorney or pay a parallegal. Go on the primeclerk site and see if you can fax it in. If you cant find an answer there, go to the southern district of Texas bankruptcy court site, you may be able to file it by fax there.
Best to use legal style/double spaced language. You can google some sample forms of court motions. A motion to dismiss would not need to be more than 1 page, and a few choice sentences.
If you do it, DO NOT ramble on about how you think JCPQ got a raw deal and should be worth bazillions. Just the cold, hard, short facts. I recommend the creditor attorney saying JCPNQ shouldnt even be in bankruptcy court.
I-man, I asked if you were trying to get a seat on the EC. Are you?
YUUUUP,,,,if he grants it you will be at $1 very quickly.
I hear ya, but not the same as a Motion to Dismiss filed on the court docket. The Judge can ignore petitions and media articles. He must address legal filings entered on the docket.
As I have said, it already appears as though Jones has heard an earful from thousands of shareholders, and that in this case his normal shareholder unfriendly ways will be sidelined IMO.
DIDDY, get to it and file a MOTION TO DISMISS. I have a feeling many Pro Se shareholders are going to be doing that very same thing. Squeaky wheels get greased, and Jones wont be able to deny thousands if that many are filed.
Waiting to hear from my attorney as far as legal standing to file a motion if you are a post filing shareholder. I could be wrong, my understanding is that you must be a shareholder of a company before they file. Anyone else have the 2020 answer?
Thats true, but Amazon isnt going to open the bidding with a bid that high. NO need for them to bid against themeselves at this point.
Amazon should stop dickin around and just offer a share exchange, and assume the JCPNQ debt to keep the creditors from filing objections. Remember, at this point, ALL THIS has to go thru Jones, unless the bankruptcy is dismissed.
Amazon should offer 1 AMZN share per 1000 JCPNQ. Everyone gets a nice payout, creditors STFU and go away, Amazon gets all the real estate (which is what they want). Easier said than done of course.
Yup, I will keep saying it until someone gets it and does it. Buyers after the filing do not have legal standing IMO to file a Motion to Dismiss. IMO only shareholders that were holders before the filing date would have standing to file motions.
Jones is a shareholder unfriendly judge as more and more are finally learning. As such he would easily deny a shareholder motion from a post facto objector.
HOWEVER,,,if any large shareholders join hands with Sycamore and file a Motion to Dismiss, with a bonafide offer from Sycamore attached, then you guys screaming for short heads on a pike would finally get it IMO.
Are you one of those lucky bastards that bought GNUS back in March for 6 cents and held it?
Yeah I think it will keep running at the open. FOR those of you lookin for other pink sheet stocks,,,look at Tempus Solutions, TMPS. 26m o/s super small float only 8.9 million, and wound super tight.
Eventually they will get another DoD/Navy air to air refueling contract, and it will explode IMO. Right now .15 x .16
As far as I know, its a formality at this point. I believe the Trustee only has to file a motion with the court, and Jones will approve. I do not know if the EC has its members set yet.
Thats why I was asking Iman if he was going to try and get a seat on the committee.
IMO the fact that Jones has said all the right things, means there will be an EC. Having an EC means there will be a recovery for current shareholders.
The only way the current estate can 'pay' them is with new shares of the new company (not a bad thing IMO).
EC must INSIST on the 'new company' shares being equal shares for all. NOT just 'REIT shares' for creditors while giving 'reorganized retail business' shares to classes 5 thru 12.
The REIT division will be where the real value is, and everybody knows it.
CAUTION! The bondholders and senior creditors will do what they always do in CHAPTER 11. They will drone on and on and on about how hopelessly out of the money junior creditors and shareholders are. This tired script never changes, and Judge Jones was recently duped by McDermott with this, and he knows it.
I dont think he wants to let it happen again here with JCPNQ. The 'dark' unencumbered/encumbered real estate of JCPNQ has value, and thus far the estate is trying to just rush this through and unload classes 5 thru 12 with the debt, and walk away with the 'new company.' SoS.
You're very welcome. Ive seen this movie a few times.
Miami Sun, for longs that would be huge. At this point everything has to go through Judge Jones (not so great). Which is why Im telling the EC and shareholders to at least just try filing MOTIONS TO DISMISS, and see what Jones does. The worst he can do is deny, and classes 5-12 are no worse off than before.
That creditor attorney saying in court something like 'we shouldnt even be here' was huge for class 12 IMO. Class 12 is commons for you flippers that dont like to read.
EC could make a huge push to dismiss just based on that alone. I bet her phone is still ringing off the hook for saying that, and not in a good way.
Which is why getting the Equity Committee approved was a game changer. EC had best make damn sure the creditors dont steal away the new 'REIT business' like a thief in the night. You better damn, good, and well believe that is exactly what they're trying to do. They want to leave junior creditors and shareholders out of the money, or at best stuck with the 'new retail' business.
That wont be worth anymore than the current retail business IMO, a bigtime loser. Remember what landed you here in the first place.
SO IMO the best thing EC can do, along with as many PRO SE shareholders as possible, flood Jones with MOTIONS TO DISMISS. Immediate result if he approves and sends creditors crying,,,JCPNQ goes to .75 to $1.25 range, and goes back to ticker JCP for now.
He is creditor friendly so its a longshot, but it would cost very little to find out.
MOTION TO DISMISS would absolutely kill any remaining short/naked short sellers right now.
Equity Committee members, you guys are starting with a killer head start in this case like I have never seen.
You had a creditor attorney stand there in OPEN COURT and say JCPNQ shouldnt even be in bankruptcy!
Think about that for a minute. Although it was based perhaps on the 'new financing' of Aurelius or whomever, you had a creditor advocate saying that. File an EMERGENCY MOTION TO DISMISS and watch naked shorts piss their pants.
I-man, you should love the sound of that.
Or maybe Tempus decided to 'be gone' now. Heaven only knows.
I-man are you on the EC? EC is EQUITY COMMITTEE for those of you not paying attention close enough.
Cant wait to see Citadel, NiteVirtu and the other small cap shorting scumbags forced to defend themselves in front of Davy Jones locker. The sad fact is, most stocks are naked shorted and the SEC does nothing.
True and it would help if Johan would pull his head out and stop ignoring the situation. Ya know, as if it were his fiduciary duty to shareholders, or some quaint notion like that?
Agreed, I dont believe any of these pink MM have a true supply of 51,000 to sell at 14 cents, or at any amount below 50 cents. Smoke and mirrors trying to scare true longs into selling. Same as it ever was.
At some point the true market cap/market value here must emerge even without a new contract.
Whats pathetic, is that Johan could do it with 1 press release, just saying 'we plan' to get current with SEC filings. Thats all it would take for this to be off and running.
It would happen very quickly if longs had shares locked. IMO there are still many that dont know what that means, and have shares in their accounts just sitting there, waiting for shorts to borrow at will.
The good thing about TMPS, that float is super small and the spring is wound super tight. So any little thing could blow it up fast.
EQUITY COMMITTEE becoming reality. IMO thats why you see the gap up. It should continue.
That said, to I-MAN or anyone else that might seek a seat on the equity committee, this is critical!
YOU MUST PUSH FOR SHAREHOLDERS to be included in the proposed 'REIT SIDE' of the new/reorganized company!
THAT is where the money is! Regardless of what happens or not with Amazon, that is your value wild card. Play it.
jimr1717, commons will survive and IMO be given shares of the reorganized company. The absolute insanity of Soltau on the filing date all but assures a shareholder recovery IMO.
It made 0 sense to make a $17 million interest payment, and then after hours that same day file a chapter 11 petition. CLEARLY the cow and the BOD had the filing ready to go for at least 'days' likely weeks.
The insider bonuses and the bungling of filing day,,,,all of that just fails the smell test. A bright light has been shined on the situation, and Judge David R. Jones (historically a shareholder unfriendly judge) has been forced to take note of it.
On face, looks like massive fraud IMO. A creditor was obviously shown favoritism on filing day. If its known you are going to file chapter 11, and NOT CHAPTER 7, there is no good reason to pay out anything, as its all going to be washed in the CH 11 plan. The EC should have field day with this fact alone. The cow and the $10 million bonus gifts, more gas on the fire.
I-man, I get all that. Much of that is what Ive been telling you guys for months now.
The Equity Committee was a must. It seems that will now be a reality. IMO this assures a recovery. As such I am now a buyer.
Are you trying to get a seat on the EC?
WAY OFF. Now with an equity committee, commons will see in my opinion, at least new shares of the reorganized company. Without an EC, longs were dead in the water. Unsecured creditors by definition must be given new shares as well, since they are above shareholders on the waterfall. Seniors will kick and scream and moan about how this 'comprimises their interests' but too fkn bad.
Soltau and her BOD botched this so badly at the end, that I believe its almost a slamdunk for shareholders at this point. All that needs to happen, is get the right legal representation for the EC in court, and even a judge like Jones cant keep you from a recovery.
IMO that insidious TWATwaffle really stepped in it by taking those undeserved bonuses along with the rest of her insider cronies. Making a $17m debt payment, then filing for chapter 11 protection after hours the very same Friday, smells rotten in any fair court. Total sending of mixed signals to the market, intentionally or not.
Just all aroung piss poor management by solecow and the cronies.
Your argument for solvency is weak at best, but I admit technically true.
JCPQ did still have $500m in cash at the time of filing, so I can see where any good shareholder attorney can make the 'solvency' issue stick. They werent 'running out of cash the next day' so to speak.
NOW that you guys are on the right track, once you get an EC approved (and you will now that all this is out in the open, Jones wont be able to deny it), FIRST MOTION should be a demand for a jury trial. That will get the attention of the senior creditors and all insider cronies. Make a strong motion for a jury trial, and watch your stock pop big on that news.
Jones could deny it/overrule it, but the clear message will be sent.
There you go I-man, glad you have seen the light. WHO has been telling you all along that you needed an EC to win this? Thank you very much. You're welcome.
ALL that said, it looks as if Pink MMs have you trapped in this current range with a hard lid at .24 until there is significant news, one way or the other. I hope you longs win, after the shit JS and her cronies pulled before filing.
Shady business, McDermott scumbags did the exact same thing, and Jones let it slide. Not only let it slide, but advocated and blessed it. Maybe he wont let it happen here.
It all depends on litigation going forward. Pinks will trade long after they have 'been canceled'. If not, MDRIQ wouldve gone to zero on March 13 and never traded again.
Since you are now seeing it at 13 cents, SOMETHING BEHIND THE SCENES is obviously going on. Likely dirty pool as usual with stinky pinkies. Didnt chatterjee have 22 million shares they needed to dump,,,or,,,something?
What you are overlooking, is the fact that Jones told the shareholders on March 12 that they were free to appeal. Dont know if the SEC would adjoin Nova Scotia and that CRIMINAL lawsuit against dickson and spence, but appeal rumors will be why this stock continues to trade IMO.
The OLD new McDermott inside boys still have a big problem with the Nova Scotia suit IMO. When I last checked, it had not been settled. It was filed before the bankruptcy, so Jones did not have the authority to vacate it.
Hollow should go, Icahn is right. She is a total joke IMO. NO need to call a trading halt for that weakass announcement. All she did was shine the light on the SP to invite more attacks from criminal short sellers.
Just keep 'em locked up with a high limit/sell order. Thats all you can do at this point, until TMPS gets a nice pop. I dont think its done yet, even without another contract.
Current market cap is below liquidation value IMO.
Well yeah, there is that 1 small positive here. No dilution. J-hand doesnt care and doesnt need the peanuts that dilution would bring. Would like to see someone dump a few hundred thousand shares at once just to see if this would go sub-penny for a few minutes.
You're right. This is a total bullshitshow right now. Thanks J-hand for the continuing hand job. Let em eat cake. Beyond mega-dickness IMO.
The debtor wants to approve another $3m in fees. The filing IMO is certainly not bad news for any 'stakeholders', but definitely not a guarantee of a buyout from Amazon or anyone else. Here again you will have creditors and their attorneys in Chapter 11 cases doing what they always do. Trying to walk a fine line that keeps shareholders and unsecured creditors out of the money with their deliberate lowball 'expert' valuations of all estate assets. JCPNQs case will be no different. Did the US trustee approve an equity committee yet? Havent seen it if so. That will be your saving grace, not the RSA.