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Would go a lot higher with a real bid and ask price. It cant be that hard to get at least up to the pink sheets. SEC has some kind of stick up its ass that Rubin isnt telling us about IMO. I hope Im wrong.
Silverstone was the go-to guy on the last contract, omega attacked him personally in their GAO filing. Im sure he wants rid of them forever.
LMAO you keep refusing to acknowledge the debt owed to creditors. Thats why its at 16 cents. Stop spreading lies with false koolaid, its not worth $6.60 at the moment.
Unencumbered 'DARK' value might be your silver bullet/saving grace. Very hard to determine in this current environment what 'true' market value is for those properties.
So you guys,,,in my novice unexpert opinion, still must form a 3 prong attack against the creditors that seek to erase you. In quick fashion.
1. Form an Equity Committee by whatever means necessary, like yesterday.
2. File pro se motions individually as shareholders, demanding a TRUE, FAIR VALUATION of all owned encumbered and unencumbered JCPNQ real estate.
This is normally where debtors get away with sodomizing preferred and common shareholders in bankruptcy cases.
IF you have 'billions' in true value there, that will definitely be what Bezos and the senior creditors are trying to swipe from you. The fact that they are trying to 'fast track' the CH 11 plan that wipes you out, is all the proof you need.
3. As I-man was telling you guys, start gathering and fact-finding for a class action in case 1 and 2 fail. Time is of the essence, tic toc.
All that 8k koolaid and more Bezos/scAmazon/buyout rumors over the long weekend will likely be good for a pop at the open on Tuesday. I would guess .22 to .25 range. We shall see. The 'story' is good for now IMO.
Yup she sure did, posted that chapter 11 plan thats says you get nothing, and she gets $4.5 million (already gotten) plus new shares. Real news.
Thats her plan. Already got her undeserved fraudulent $4.5 million bonus, and showed class 12 a huge middle finger on the way to BK court. Once that scam plan gets approved (rubber stamped by Jones), she and the other criminals IN MY OPINION will be virtually untouchable. Very hard to appeal a BK judges decision. Some must remember, BK judges are federal, not state/local judges.
Would be nice if Rubin would come out of his hobbit hole and tell us WTF is going on.
So far today you guys are holding up quite well IMO at the 16 cent mark.
I may have to take a flyer here.
One thing to always remember about pinksheet Q's.....pinksheet MMs and their sell algo's can always 'out sell' you. As a buyer, you have to spend real money to keep something going sideways. Whereas they can just smash the sell button with impunity, and no real capital. Right I-man?
Sorry wingtrade, my bad. Thought it was wingedvictory, pennyboys alter ego. Only posts here, thinks he is fooling everyone.
Yeah man no shit,,,of course he could. He can buy any damn thing he wants to, thats not the question.
He isnt stupid with his money. If he doesnt have to pay $4 billion in debt, he wont.
The 'fast track' does not benefit current shareholders, its a quick death for you, so dont applaud it and dont hope for it.
The 'fast track' would benefit Bezos and Soltau/new owners. Those getting 'new shares' of the 'reorganized' company. That aint class 12, sorry.
SO, you better hope that Bezos has a little baby fit, and wants JCPNQ 'right now.'
IF, and its a big IF,,,he were to pony up 50 cents to $1 right now (a huge stretch), I could MAYBE see that. But $8? LMAO cut it out man, not happenin.
LOL WOW! Pure insanity. In what universe is JCPNQ worth $8? Did you conveniently forget about $4 billion in debt? Who is going to pay $7 billion for this right now, so that current SHs get $8? Answer, no one.
Even IF the Bezos/AMZN/White knight rumor comes true, he is NOT going to pay $7billion for this. He will wait until the current debt is erased, then make a deal.
For you to get $1 right now (a total stretch IMO), someone would have to pony up $4.33 billion and absorb the debt. I aint seein it.
Yeah, and they're SOLVENT down to the shareholder classes too. JCP is not. In fact, JCPs plan wont even guarantee a recovery for classes 5, 6, and 7 (unsecured creditors which are ABOVE shareholders).
No one said 'ALL'. Im saying go by his track record, which is NOT shareholder friendly. Feel free to spin it or ignore the truth any way you want.
Jones' famous statement as he rubberstamped McDermotts chapter 11 reorganization plan, and rubbed it in the faces of shareholders one last time,,,'Shareholders lost their money a long time ago.'
Speaking of that, notice that the 'all new' McDermott has won a few huge contracts in the last 2 months? Im SURE the ever-watchful Judge has taken note, right? LMAO sure. Their legal counsel said different during the hearing, painting a dark picture for the future.
Anyway, this is the JCPNQ board, but since JCP has the same judge MDR had, this subject will come up again. Just wait until the hearings and you will see what I mean. If you listen in.
TMR,,,they cant remove him. He is it. Unless someone can show 'cause' which is impossible right now.
But you nailed it. Federal BK judges do this shit because they can, and jones did it because 'he can'.
East coast, dont ever be on the short end of corrupt jellyfish IMO mary f walrath (WaMu fame, Delaware). It turns out the same way, with her filling in the blanks for debtor attorneys when they are cornered and nailed by facts brought forth by shareholders or ECs.
But all in all, here and now with JCPNQ, this is a buying opportunity due to so many longs with so many koolaid narratives and blind pump material. Im hoping for a nickel, but this will not likely go below a dime IMO. May have seen the low at .1123.
All true. The Dean Food confirmation hearing was on the same day as McDermotts. DFODQ only has 91m O/S, and some asset sales went a little better for them, so shareholders there can still get 9 cents right now.
MDRIQ still at 4 cents for now. I guess jones let the NovaScotia pension fund (HUGH MDRIQ shareholders, lied to by dickson back in late 2019 and told NOT to sell, all is well!) CRIMINAL LAWSUIT appeal continue. He didnt have the authority to kill it since it was filed before the bankruptcy.
IMO jones is a total arrogant prickboy. During the McDermott hearing, as HE MADE HIMSELF A WITNESS FOR,,REPEAT FOR the debtors (McDermott and all its scumbags trying to get CH 11 plan approved, and did),,,stood there and dressed down Michael VanDeleen (SP?) ,,shareholder that appeared pro se.
REFUSED to address the fraudulent statements and lowball valuations made by the debtors, would NOT allow him to question Spence and Dickson.
Jones' kept badgering him,,,'well what difference does it make, under THIS PLAN shareholders arent getting a distribution.' He kept using that to mask all the corporate fraud and malfeasance. "What would be any worse, how could it be any worse, you arent getting anything."
If I remember right, VanDeleen was frustrated and told Jones, 'well, I guess they could SHOOT ME, and I would be dead! That would be worse!' Jones blew a gasket at that point and had VanDeleen removed from the courtroom. Anyone else that was listening, do you remember that? Just a short 2 months ago.
LMAO yeah sure pennyparasite. Its a 'disaster' so much so that you feel compelled to keep posting here under a different screen name.
IF you are telling the truth, which I doubt, you had BEST sell ALL the principle at the open, and ride for free with the free shares. No money like house money.
Who in the hell does that? You hocked your house to bet on a bankrupt Q with a skeptical chapter 11 plan? WOW.
They have nowhere near that now, or else they lied on the BK filing, which Im sure they didnt. Stop spreading pumper BS. They had ALMOST $500m as of the filing. Nowhere near $1.8b. If they had $1.8b now they wouldnt need to file.
I-man, like I keep telling you guys, and you keep refusing to hear me. Get the US trustee to approve an Equity Committee or Class 12's (common shares) are toast in the bankruptcy.
ESPECIALLY,,,,ESPECIALLY with this judge. Same judge that screwed McDermott shareholders on March 12. MDRIQ was only in a pre-packaged chapter 11 for 2 months. One confirmation hearing, ALL shareholder objections overruled, PLAN rubberstamped and APPROVED by,,,,Judge David R. Jones.
I was hoping you wouldnt get this guy, but you did. Bad news for shareholders. He is bigtime shareholder unfriendly, and all FOR letting BODS/CEOS get away with big bonuses and other fraudulent behavior. You think Soltau and her cronies are bad (they are), MDRIQ CEO david small dickson and his lackies got $105 million in bonuses, plus 'new shares' of the reorganized McDermott.
Soltau is trying to follow the same model. Notice the company koolaid talking point for a QUICK EXIT from the bankruptcy? They want all their crimes rubberstamped and blessed by the BK court, so the status-quo can continue. YOU GUYS NEED the case to take as looooooooong as it can. DRAG IT OUT as best you can! Only way class 12 ever sees a recovery.
And for you dreamers that will say Im 'LYING' and this is 'FAKE NEWS' like Lion,,,,,I guess you didnt read the reorganization plan details pertaining to you, CLASS 12. In FACT JCPNQ wont even guarantee a recovery for UNSECURED CREDITORS, classes 5, 6, and 7. So you better start filing objections and raising so hell in the BK court. Screaming and parroting koolaid and pumper BS on this board wont help you in the end.
Judge David R. Jones is not shareholder friendly. I thought he was in Houston, but I guess the southern district of Texas also includes Corpus Christi. Anyway, study his rulings.
On March 12, just a few months ago, he screwed McDermotts shareholders over real good. Even overruled the objection of Sonia Chae/SEC. She obviously knew that dickson (CEO) and spence (CFO) were shady frauds and made public statements that were lies, with regards to the companies financial health in late 2019. Begging big shareholders NOT to sell, telling them 'everything is fine.'
What did Jones say? "Shareholders lost their money a LONG time ago." The SEC wont be on your side IMO, and it wouldnt matter even if they were.
One confirmation plan hearing was all Jones needed to rubber stamp the debtors' reorganization plan, wipe MDRIQs debt clean, and let the same frauds stay in place with over $105 million in bonuses and 'new' shares awarded.
MDRIQ old shares are still at 4 cents. Welcome to what will likely be a preview of your future with Jones presiding over this CH 11 case.
Oh, and Jones did tell the objecting shareholders post-facto,,,,'feel free to appeal.' What a dick IMO. He knows that will take years and not likely go anywhere.
It sounds accurate to me. Your guess is as good (or probably better) as mine or anyone elses here.
Big 50k dump wiped out the bid of 14 cents.
I dont feel like standing in the way of a slow falling knife.
21 cents on volume of 338k. I cant find any new news. BTC creeping up on $10k again, oil way up, overall markets all up.
BINGO! THERE IT IS! And that, longs, is why you had BETTER MOVE the court for an Equity Committee! Like, yesterday.
Without an EC you will be erased. Oh dont worry about the Cow and her fellow crooks on the board,,,IN MY OPINION,,,they of course will be awarded new shares to match their current shares. Happens damn near every time in Chapter 11 reorgs.
I-man, looks like its time to form an Equity Committee. I saw your comment on Yahoo, goin on and on about 'class action'. Why waste time & money on that when everything for the near term here of legal consequence MUST GO THROUGH the bankruptcy court?
Class action against the Cow and her crones? That will take years before you even get a preliminary hearing. You guys can file a Motion to Approve an equity committee right now. Today.
Check with a good BK attorney, but as I remember you will need at least 5 fellow shareholders that all held shares on or before the filing date of 5/15/2020. It would be worth every penny you spend on it. With the right legal representation in BK court, and with an EC, current commons will get a recovery IMO.
Without an EC, you wont get a dime in the final confirmation plan, other than what you can making trading the stock.
Longs do have a few remaining positives here IMO, but they are disappearing fast.
JCPQ did its sneaky late Friday BK filing just as I (and many others) said they would. Its what pondscum does.
Thankfully you are in Corpus Christi and not Houston, with shareholder mega-unfriendly Ahole Judge DR Jones, IN MY OPINION of course. He butchered McDermott shareholders with 1 confirmation hearing of just under 3 hours, over ruling a super strong PRO shareholder SEC objection.
The SEC will not be on your side here, because there are no obvious public statements of fraud by Soltau, as there were by Dickson and Spence of MDRIQ, once again IN MY OPINION.
The REIT thing is interesting, but current commons will not see a dime of it. The way the current DOCS read, that appears to be a 'spinoff' attempt, and much needs to be heard in the BK court before you see anything concrete.
Those of you longs with deep pockets, or that know a good BK attorney that will help you pro bono, had BEST GET OFF YOUR complacent ASSES and file a motion in the Corpus Christi bankruptcy court, to approve an Equity Committee. This is your ONLY SHOT at getting a fair recovery/new shares along with the creditors. You may think you will 'get something' because Soltau and the other board members have common shares. That is folly. THEY will get 'new shares' of the 'new company' while signing off on YOU getting the shank. The bonuses they got last week were a small preview.
This scenario has played out many times. Dont believe me? Study chapter 11 reorganization plans approved of publically traded companies, that did NOT have an equity committee representing commons during the bankruptcy. Best of luck to you. Get busy, dont just sit on your ass and read hopium on these message boards.
Exactly. They paid $17 million they owed. No need for a halt just to announce business as usual.
No. That was the dead cat bounce from .14 to .32. You already missed it.
Now back down to .15 as SoleCow took the money and ran from aloof bagholders, and will leave them holding an even bigger bag once again. Its sad how many fools are emotionally attached to this bankrupt joke.
I-man,,,all moot. The kntcow proved she is out for herself and her fellow board cronies. Greedy selfish fkncnt, period.
She sure does, she has another $4.5 million of your money. All those millions in undeserved bonuses. If she were pro-shareholder, shouldnt she have paid shareholders a special dividend? You guys wanna kill the shorts, that would definitely have kicked them in the balls for the short term.
No it isnt, after they file BK, the trustee will be in charge of the general fund. Its exactly the way pondscum BODs do things.
SoleCOW gives herself $4.5million but they cant pay their bills. That is sickening. Chapter 11 filing will probably be after hours tomorrow, or knowing the MO of this broke scam, after hours on Friday. The spin come Monday from them will be, 'oh yeah the BK filing is old news.' Looks like the dead cat bounce is winding down.
They are going to file, they've already said it. Creditors will run the new company.
Until Soltau gives SOME KIND of clarity, Im stayin out. Tempting at 14 cents, but not tempting enough.
Why? He doesn't need you, why should he bail you out?
LOL it went over $10k last week moron. Might do it again today while you and the other frauds are waiting for $4k. Thats a pipe dream.
Damn straight. Q trading is awesome. JCPQ bagholders that rode this all the way down from $80 have a chance to get even, or even make money. You gotta love that.
I-man,,,Jill and the rest of that deadweight BOD must go. NO 2 ways about it. Yeah she inherited a mess no question about that, but her missing in action status the past few months is totally unacceptable IMO.
Its all speculation here until we see the plan, and I still say you guys will need an equity committee in BK court. Otherwise these creditors are going to devour you. Target buy for me remains 5 cents.
Meantime, stick with OXY and keep loading if possible. I also like Oasis (OAS)at 55 cents now that DO went bankrupt. King oil is here to stay, whether anyone likes it or not.
They just might, cross your fingers and thank your lucky stars its not going to be a pre-pack 11. That wouldve sealed your doom as a long. It could be said they pulled it off with the reorganized WaMu,,,WMIH, now COOP. So longs here are not dead yet.
Find out if one of the big boys at KKR is a long. The news isnt as bad as I thought it would be.
Still, the creditors are taking over. IF (and thats a huge IF) they want to take preferreds and commons along for the new ride, you longs may just be in luck.
Then we get to the major issue of,,,,what exactly are they going to do with JCPsoontobeQ going forward? The current business model clearly failed, so they will have to change it up quite a bit.
I will be lookin to buy 10k at a nickel, should the market run it down that far. Thats as much of a chance as I will take on it.
YYYUP. Stinky piggy now. Wouldve brought top dollar IMO 4 to 5 years ago IMO. Ellison was also a joke, just not as bad as Johnson.
I thought the $12m payment they said that they wont make, was due next Friday. As in May 15?
Your fearless CEO has squandered yet another opportunity to release some kind of positive PR today, above and beyond the JCP/Sephora drama.
Something clever, maybe like ummmm,,,,,'we've decided NOT to file a chapter 11 plan 'for now.'"
Ya know, something that a real CEO that actually gives a damn about its long shareholders might do.
So as this wallows in the 17 cent range, I will continue to wait for the Q, and the wild west pink sheet trading here.