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this will probably flush out the longs and when some new pr's hit bring in some newbies.... I agree with mikey.. I will put in on the back burner and wait.. does not look like a rs or bk so lets see what they do with 100bill shares... still make me wonder where bristol stands on all this.. mikey.. check your email.. would like to talk..
mike.. am I missing something here?? what the hell is going on??
Im with you on that.. something must be going on. we go from zero trades yesterday to this today???
lets not go into panic mode.. this happens more often that not with penny stocks and it is not that big a deal.. considering the fact we all know that is alot going on behind the scenes with ness and other possible buyouts// the guys have shown nothing to make me believe they are not going to keep this company listed on the otc.. they filed all the amended filings.. released a nice pr on a 2009 plan to increase our share value and another on who it is.. this ness deal has been working for a while and I am sure that is the reason for the delay..if there had been no filings.. no pr's .. then i would be worried. the report will be filed and when it is we will see why they had to delay!!
i know according to the docket filings the unsecured creditors won the battle to be a part of the bidding process.. I consider that good news since anything now a-days is not worth what it really is.. that being the case the secured debt holders will not be able to purchase assets(hopefully kron) for the price they want. The filings said they wanted to have the min bid at 100m.. that cant happen now so I would think come apr 19th when the bidding starts we will see some movement when some assets are sold to relieve some debt load.
the bidding start june 19.. i wonder how much kron will go for?? does anybody have any idea what is going on the block????
that is almost impossible.. we had too many buyers and 3 and 4..although if it does get there i will pick up another 10 mill
transcripts of the hearing on 3/25 have been sealed by the bk judge???? something must be cooking. I do know from looking at the docket filings there is a battle between secured and non-secured debt holders.. this very well may turn out to be another granite.. i think the boys at silver may own more than what we thought!! time will tell.. glta
bristol investments was also a partner in ness.. they had a insider buy of 350mill on uvse last month.. thoughts anyone?? thinking we may have a new source of venture capitol or share buyback??
http://msnmoney.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=4635279&SessionID=jD3hWZnjVRJFbg9
agreed.. i have read all the docket filings so far and young is not is as bad of shape as i thought...if the boys at silver were looking to get a deal .. vinnie may have pulled a fast one on them!!!!
filings are out on the docket for viewing.. only 1.3 mill in unsecured debt.. also revenues ytd are looking good..
might want to check out the docket filings on epicsys.. some interesting stuff going on...
MMAN, Mar. 19, 2009 (Xinhua News Agency) -- The end of May is the deadline for international companies which intend to explore oil in northern and central parts of the kingdom to submit bids, local daily The Jordan Times reported on Thursday.
"International companies have until May 31 to submit bids for the northern highlands and the central blocks," National Resource Authority (NRA) Director Maher Hijazin said on Wednesday.
The authority expects most bids for the two tenders, which were launched March 1 on a product sharing agreement basis, the official added.
The two blocks are the Northern Highlands, a 7,454-square- kilometer area along the kingdom's northern border with Syria, and Al Jafr block in the central region, a 19,156-square-kilometer plot east of the Jordan River.
Between the years 1959 and 1991, the NRA, along with the firms Pauly and Total, drilled seven exploration wells in the Northern Highlands block, while Hunt Oil Company previously dug two wells in Al Jafr area in 1989, neither yielding productive oil discoveries, according to the authority.
"Both blocks have had previous explorations, all of which have been inconclusive," Hijazin noted.
According to the official, the two potential deals, along with the planned British Petroleum (NYSE:BP) investment in the Risheh field, would bring the number of active petroleum exploration blocks in Jordan to eight.
Current exploration activities include those of the Petrel firm in the eastern Safawi block and Global Petroleum in the western Safawi block in the northeast of the country, Sonoran in the Azraq block, Universal Energy (OTCBB:UVSE) in the Sirhan block to the southeast, and the Dead Sea block, currently being explored by Porosity Ltd.
over1/2 million trades today.. anybody have any thoughts on why the volume spike?? who is buying??
meeting with creditors is in april.. guess we will see how much silverpoint has.... waiting......................
364mill buy from bristol investment?? any thoughts??
http://www.nasdaq.com/asp/quotes_sec.asp?symbol=UVSE&selected=UVSE
agreed.. most of youngs stations are cash cows.. even in the state of the economy now.. he has already slashed to the bone with all other expenses.. if somehow he can workout the exchange for kron to silverpoint.. reduce the debt owed to them.. while keeping the other stations we could be in a very good spot..
personal note.. i hope the "trustee" cuts vinne's pay and takes his limo away!!!
some reading involving silverpoint
http://www.bingham.com/Media.aspx?MediaID=5439
looks like im gonna sink or swim for me.. gl.. slide me a email if you get a chance.. custom4eyes@yahoo.com
from yahoo board....
Young Broadcasting spells out its overleverage
Young Broadcasting spells out its overleverage
16 February, 2009 03:45:00
The Chapter 11 petition that Young Broadcasting filed Friday lists total assets of $575.6 million, including the current value of KRON-TV San Francisco, which it bought a few years back for $820 million. The company’s debt load is $980.4 million, including $640 million face value of publicly traded bonds.
Keeping creditors notified during the Chapter 11 restructuring process won’t be anywhere nearly the expensive proposition currently faced by Tribune Company. Young estimates that it has fewer than 50 creditors. It has not yet filed a list of the major creditors and the amount each is believed to be owed.
Surprisingly, the company estimated that it has only 99 shareholders for its 21,864,047 shares of Class A stock. Only 49 (employees and Young family members) hold the 1,941,414 shares of super-voting Class B stock.
As the Young Broadcasting board of directors approved the decision to file for Chapter 11 reorganization, the board also appointed David Pauker as CRO – Chief Restructuring Officer. He is a restructuring specialist from Goldin Associates. The CRO is to report to and take direction from CEO Vincent Young and the board of directors. He is to assist the board and management in negotiating with creditors.
RBR/TVBR observation: We don’t know yet exactly how much of Young’s debt is owned by Silver Point Capital, but it is believed to be substantial. It could be that Silver Point has a particular interest in KRON. The investment group already owns Granite Broadcasting, acquired through a Chapter 11 process, which just happens to own Independent KOFY-TV San Francisco. If we were running Silver Point, which we’re not, we would certainly have some interest in exchanging our big chunk of Young’s debt for KRON, creating a duopoly in the sixth largest US market.
http://www.rbr.com/tv-cable/12930.html
gonna be interesting to see the 10q and see what the bottom line looks like.. when is it due out..??
yep there was good news in the pipeline!!!!way to go vinnie.... lets hope this will give him the wiggle room he needs to pull out of this
well.. we got a bk.. lets see what happens now!!!
up almost 100% on small volume?? hmmmm again??
some nice buys coming thru.. guess other people are willing to throw the dice too!!!
101 wild turkey helps// FYI
I bought enough to bring my average to .03 today(started at .50).. now its time to pray or drink.. or maybe both!!! how much do you think it will move when(if) he makes the note and goes to otc???
while i totally agree with your feelings on vinnie,,(as vinces dad told me once "I used to be a multi-millionaire, now that my son is running the show I am just a millionaire" I do have good sources for my news.. while I am never told what news it is, they usually say if its good or bad.. this they felt was good news coming so it makes me think this is not what they were talking about..I did hear sinclair did a 'walk thru" at a station.. as always guys I was not personally there so make your own mind up on what to do.. I personally feel he will pull a rabbit out of the hat!! if not I assure you I will personally take a piss on the tires of his limo next time i see him!!!!GLTA
thanks for the pump ronnie.. while I never post here, I do read everyday and have done so for about a 6 months.. I post what I "HEAR" and yes they do come from inside young.. although she is "top secret" lol
if you are longs and want some dd email me
custom4eyes@yahoo.com
be patient.. good news to come