is...(Never argue with fools. They will drag you down to their level and beat you with experience.)
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AMC Revenue to skyrocket soon. Buckle Up, Whales entering market to bankrupt Hedge Funds.
Reddit round two coming up. The entire market squeezed very soon while central banks collapse.
New company, Nu Ride Inc., rises from Lordstown Motors bankruptcy
Mar. 19, 2024
LORDSTOWN — A new company has emerged from the bankruptcy of failed electric-vehicle manufacturer Lordstown Motors Corp.
Shares of Nu Ride Inc., the former Lordstown Motors, continue to trade on the OTC Pink Market, but under a new ticker symbol — NRDE — and the company has relocated its headquarters from Lordstown to New York City, according to a recent regulatory filing.
OTC, or over-the-counter trading, is a trading platform for stocks not listed on a major exchange.
Shares closed trading Monday at $2.20 per share, up about 9.5%.
The company emerged from bankruptcy Thursday, nine days after a federal bankruptcy court judge in Delaware approved Lordstown Motors’ exit plan, the filing with the U.S. Securities and Exchange Commission states. According to Nu Ride’s website, it emerged from bankruptcy with approximately $78 million and $1 billion of net operating loss carry forwards and various causes of action.
The company intends to deploy its cash and intangible assets to “investigate and prosecute its causes of action” and “identify, evaluate and pursue one or more potential business combinations or acquisitions,” the website states.
Under the exit plan, the employment of Executive Chairman Daniel Ninivaggi, CEO and President Edward Hightower and Executive Vice President and Chief Financial Officer Adam Kroll was terminated with severance agreements.
Ninivaggi’s severance was $550,000; Hightower, $975,267; and Kroll, $685,000, the filing states.
The filing also states William Gallagher was appointed new chief executive, president, secretary and treasurer of the company.
Gallagher, 65, since October 2018, has served as a managing director of M3 Partners and has more than 35 years of experience in finance, investment and financial restructurings. Prior to joining M3, Gallagher was CEO at WMIH Corp, a public acquisition corporation which was the successor to Washington Mutual Inc., from May 2015 to July 2018.
The company’s new board of directors will set Gallagher’s compensation, according to another SEC filing.
The new board consists of Alexander C. Matina, Andrew L. Sole, Michael J. Wartell, Neil Werner and Alexandre Zyngier. No longer with the company are former board members Ninivaggi, Joseph B. Anderson Jr., Keith Feldman, David T. Hamamoto, Hightower, Jane Reiss, Laura J. Soave, Dale Spencer and Angela Strand.
Lordstown Motors filed for bankruptcy in June. The company acquired the former General Motors small-car plant in Lordstown to mass produce electric vehicles, but the company ended up selling the facility to Taiwanese tech giant Foxconn, which agreed as part of the sale to be manufacturer of Lordstown Motors’ first and only vehicle, the Endurance truck.
The relationship soured and Lordstown Motors sued Foxconn the same day it filed bankruptcy, claiming fraud and bad faith on Foxconn’s part led to the bankruptcy. Foxconn denies the claims. The case remains pending.
In October, a company formed by Lordstown Motors’ founder and ex-CEO, Steve Burns, acquired certain assets from Lordstown Motors “related to the design, production and sale of electric light-duty vehicles focused on the commercial fleet market” for $10.2 million.
Earlier this month, Lordstown Motors agreed to pay $25.5 million to settle claims made by the commission that the company exaggerated and misled investors about the demand for the Endurance.
The payment was to resolve certain pending class action lawsuits against the company in Ohio and Delaware.
On Friday, the commission filed notice with the bankruptcy court that it withdrew its $45 million claim against Lordstown Motors, citing the agreement with the company.
Have an interesting story? Contact the newsroom by email at news@vindy.com Follow us on X, formerly Twitter, @TribToday.
https://www.vindy.com/news/local-news/2024/03/new-company-nu-ride-inc-rises-from-lordstown-motors-bankruptcy/
The Liar basher is here working diligently for Hindenberg short position.
Watch what happens! Shorts will be crushed soon. Very soon!
Gold is the Standard. Central banks preparing for collapse.
Nu Ride Inc. (NuRide) Corporate Profile
On March 14, 2024, Nu Ride Inc. (NuRide), formerly known as Lordstown Motors Corp., emerged from bankruptcy as a public reporting company. The company emerged from bankruptcy with approximately $78 million of cash, $1 billion of net operating loss carry forwards and various causes of action. NuRide intends to deploy its cash and intangible assets to (i) investigate and prosecute its causes of action, and (ii) identify, evaluate, and pursue one or more potential business combinations or acquisitions, as determined by the Board. NuRide has no debt apart from certain liabilities related to general unsecured claims filed in the bankruptcy case. Additional information about the company and the Plan of Reorganization is available on the company’s website (www.nurideinc.com) and in the company’s filings with the U.S. Securities and Exchange Commission available at www.sec.gov/edgar.
Nu Ride Inc., Formerly Known as Lordstown Motors Corp., Emerges from Chapter 11 with the New Ticker Symbol "NRDE" on the OTC Pink Market
NEW YORK, March 14, 2024 /PRNewswire/ -- Nu Ride Inc., formerly known as Lordstown Motors Corp ("Nu Ride" or the "Company") announced today that it has successfully emerged from bankruptcy pursuant to its confirmed plan of reorganization (the "Plan"). The Plan was confirmed by the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") on March 6, 2024. Upon emergence the Company's common stock was issued a new ticker symbol: "NRDE" on the OTC Pink Market.
Additional information about the Company and the Plan is available on the company's website (www.nurideinc.com) and in the Company's filings with the U.S. Securities and Exchange Commission, available at www.sec.gov/edgar.
Please send inquiries to 'inquiries@nurideinc.com.'
Cision View original content:https://www.prnewswire.com/news-releases/nu-ride-inc-formerly-known-as-lordstown-motors-corp-emerges-from-chapter-11-with-the-new-ticker-symbol-nrde-on-the-otc-pink-market-302089920.html
SOURCE Nu Ride Inc.
https://investor.lordstownmotors.com/news-releases/news-release-details/nu-ride-inc-formerly-known-lordstown-motors-corp-emerges-chapter
You need the Tax Assessor records as the property is NOT for sale and it's not residential.
OMG Stop Lying, Bashers don't read filings that express truth.
mxux even made a video explaining the 90 Acre zoned comercial/industrial property now owned by NU Ride Inc. that adjoins the plant property in Lordstown Ohio.
When a liar basher parks his bull shit on a stock, it only means good things are about to happen.
Thanks for the tip...LoL SMH
Other platforms have pointed out the details in the mxux youtube video.
I posted the link here awhile back.
Do your DD and you will find it. mxux video that everybody is afraid of especially baseless bashers with a motive.
The basher will now mimic my post so I will keep posting the truth until this stock hits the moon because this diamond in the ruff will explode way beyond $100 then $500 with Diamond Peak buying out the float. 15 million issued stock, flipping it over and over. It's coming soon as Hedge Funds and Central Banks collapse one by one.
NU Ride Inc. will soar and Diamond Peak will hold it up.
Buyers buying down here can thank me later as we stand to make a fortune. Really Soon.
5 highly qualified investment bankers have been seated as Directors of the company. One or two Investment bankers is great but NU Ride Inc. seated Five Investment Bankers and the new CEO equals Six. Tah Dah, they know what's coming and have already prepared for it. Do the math. NU Ride Inc. is going to rocket and we all know it.
NU Ride Inc. sure didn't need 6 highly accredited Investment Bankers to liquidate. The huge amount of money and assets they will receive from Foxconn lawsuit will certainly require top dog Investment bankers to manage the proceeds.
Lordstown Motors Corp represent an American Corp. that was sabotaged by a foreign company with political powers.
The American company will receive favor with the lawsuit against Foxconn and everyone knows this. Paid bashers wouldn't be here otherwise. A good sign for what's to come. It's going to be big. NU Ride Inc. isn't just a play on words. NU Ride Inc. is the real deal with 90 Acres of commercial/industrial zoned property located right next to the plant.
If they were liquidating like the dip shit says, they would have unloaded that land already.
Big pay day is coming soon.
NU Ride Inc. seems to believe so. 5 highly qualified investment bankers have been hired and seated as Directors of the company. One or two Investment bankers is great but NU Ride Inc. hired and seated Five Investment Bankers and the new CEO equals Six. Tah Dah, they know what's coming and have already prepared for it. Do the math. NU Ride Inc. is going to rocket and we all know it.
Stay tuned Dip Shit. After this weekend, it will become clear.
Drilling results and Mine plan will set fireworks.
The 4000 and 5000 grams per ton prior drill results near surface will be a good starting point for immediate returns.
Central Banks Dip Shit, All of them! Stay tuned Dip Shit.
Hycroft set to explode on drilling results coming.
Foxconn verdict will skyrocket NU Ride Inc. Beyond Belief
Foxconn, Wisconsin employees file lawsuit against Foxconn for stolen wages and fraudulent time card tampering.
Wisconsin plant is now idled
Everyone knows Hycroft is transitioning to a milling operation. The mining plan will come from the drilling results as explained by CEO Diane. Shorts know we are at a stand still. Drilling results could be explosive and why shorts are terrified. New money pouring in on good results may force a squeeze yet this summer with the new mine plan.
Hycroft Infrastructure is in place and ready to restart.
$1.2Billion invested, preparing for massive commercial operation.
A second Refinery is under construction with everything in place. This is a massive commercial operation.
Hycroft is expected to have a workforce of over 500 when it's said a done. All infrastructure is prepared, in place and ready.
Hycroft Mine Expansion Winnemucca, Nevada
SMG provided conceptual, final mechanical and structural engineering and design of belt conveyors including transfer structures and chutes. A fast-track schedule and changing priorities required quick SMG responses to complete engineering on schedule.
http://www.smgengr.com/material-handling-systems.html
A fast-track schedule and changing priorities required quick SMG responses to complete engineering on schedule.
Massive belt conveyors including transfer structures and chutes.
CEO Diane Garrett said; We have a tremendous amount of infrastructure already on site at Hycroft Mining Holding Corporation – infrastructure that, if planned and purchased today, would exceed well over a billion dollars. That advantage means we’re ahead of the curve of a typical developer.
https://www.linkedin.com/company/hycroftmining
SMG massive conveyor system.
http://www.smgengr.com/material-handling-systems.html
Hycroft Mining: Infrastructure and Equipment Owned by Hycroft
No Doubt. Thanks for the reminder. March 25th
That's a huge line up for Webinar! Thanks
Institutions LOADING! They know what's coming!
Hedge Funds are crashing big time. Suicide Month not week.
The pump before the dump!
ESOPUS CREEK VALUE SERIES FUND LP - SERIES A
C/O ESOPUS CREEK ADVISORS LLC
81 NEWTOWN LANE #307
EAST HAMPTON, NY 11937
157,434 Shares, Andrew L. Sole Andrew L. Sole 157,434 3/18/2024
https://www.otcmarkets.com/filing/conv_pdf?id=17378814&guid=2Fd-kF62Ry_6Jth
Definitely gearing up for a big boom.
I posted the link Dip Shit. Stop Lying.
At least both CEO's can spell. Me too, to, two. LoL, SMH
It sure as hell does 1vman. "It was leaked the DEA will reschedule cannabis to schedule 3"
Good luck!
It was leaked, the DEA will reschedule cannabis to schedule 3
All Mary Jane stocks will rocket! New Legislation is the answer.
Many NEW Shareholders! Learn how to read filings, Dip Shit. Multiple filed in open market. .
Why would anybody care so much as to slam bash every single post here, especially about many NEW Shareholders? Hindenberg?
Nobody is selling. Indirect acquiring. The potential here is Huge. Terrified shorts maybe?
The first announcement will settle everything.
New Directors Buying Large! March 18, 2024
https://www.nurideinc.com/static-files/6fa9653f-1d23-4ea1-b85f-696f9ee82cac
A super huge win against Foxconn explains BOD.
This will run strait to $100 pps and beyond with such a small SS and win over Foxconn.
Then depending on how high NRDE will go, Forward Splits are already pre-planned before NYSE listing.
All it takes is one CEO to dissolve the new company but they have the CEO and 5 brand new, fantastic Directors, all involved with Financial Investment Banks leading the way. Something Huge is being planned. Very Huge!
I can smell a large win against Foxconn, right around the corner. Even Fisker parted ways with Foxconn and the writing is on the wall.
NU Ride Inc. has made it clear by hiring a talented BOD that NU Ride Inc. is here to stay.
They now have 6 well seasoned veterans of Finance Management, to move NU Ride Inc. forward, without a doubt.
This team of successful businessmen were placed here for a reason. Notice "News and Events" on the website depict Lordstown Motors Corp. as Plant Ownership with First Day motions.
Something happened with Foxconn that disrupted deal with Fisker were Fisker has elected to back out of Foxconn deal and go their own ways.
Whatever is going on is going to be big.
Nu Ride Inc. Board of Directors line up is out of this world and a very good sign that LMC Will prevail with judgement against Foxconn.
Every Director is a stand alone very successful Investment Banker.
Do the math. This set up knocks it out of the park and is explosive to say the least.
We have 6 very talented Directors to lead the way.
NU Ride Inc is the new kid on the block that's going to make some noise.
Alexander C. Matina
Mr. Matina is expected to serve as a director beginning on the Effective Date. Mr. Matina has served as the Portfolio Manager of MFP Investors LLC, the family office of Michael F. Price that invests across both public and private markets, since 2007. He also has served on the board of directors of T.G.I. Friday’s, a private casual dining company, since 2019, Crowheart Energy LLC, a private energy company, since 2017, S&W Seed Company, a publicly traded agricultural company, since 2015, and Trinity Place Holdings Inc., a private real estate development firm, since 2013. Mr. Matina previously served on the board of directors of Madava Financial, a private, energy-focused finance company, from 2017 to 2021, and Papa Murphy’s, a pizza franchise, from 2017 to 2019. Mr. Matina graduated from Fordham University (summa cum laude, with a B.S. with concentrations in finance and accounting. He also received his MBA in Finance from Columbia University.
Andrew L. Sole
Mr. Sole is expected to serve as a director beginning on the Effective Date. Mr. Sole has served as the Managing Member of Esopus Creek Advisors LLC, the general partner of the private investment fund, Esopus Creek Value Series Fund LP and its associated series, since 2005. Mr. Sole earned a B.S. in Mathematics from Union College and a J.D. (cum laude Order of the Coif) from the Benjamin N. Cardozo School of Law.
Michael J. Wartell
Mr. Wartell is expected to serve as a director beginning on the Effective Date. Mr. Wartell served as the Co-Chief Investment Officer and Owner of Venor Capital Management LP, a private investment management company, from 2005 to 2023. He has also served on the board of directors of Imperium3 New York, Inc, a private energy manufacturing company, since 2023, and Rotech Healthcare, Inc., a private healthcare products company, since 2014. He earned a B.S.E. (cum laude) with concentrations in Finance and Accounting from the Wharton School at the University of Pennsylvania.
Neil Weiner
Mr. Weiner is expected to serve as a director beginning on the Effective Date. In 2006, Mr. Weiner founded and, until 2021, served as Chief Investment Officer of Foxhill Capital Partners, LLC, the investment manager of the Foxhill Opportunity Fund, L.P,. a private fund focused on distressed and special situation investments. He previously served on the board of directors of Cambium Learning Group, a private education technology company, from 2010 to 2013 and was chairman of the audit committee. Mr. Weiner holds a B.A. from the University of Pennsylvania and an MBA from The Wharton School at the University of Pennsylvania.
Alexandre Zyngier
AMr. Zyngier is expected to serve as a director beginning on the Effective Date. Mr. Zyngier has served as the Managing Director and Founder of Batuta Capital Advisors LLC, a private investment and advisory firm, since 2013. He has also served on the board of directors of Arrival SA, a public electric vehicle company, since September 2023, Slam Corp, a public special purpose acquisition company, since February 2023, Schmitt Industries, a public industrial measurement manufacturer, since November 2021, EVO Transportation & Energy Services, Inc., a public trucking contractor, since November 2020, COFINA Puerto Rico, the taxing authority of Puerto Rico, since February 2019, Tetralogic Pharmaceuticals, a private biotech company, since January 2017, and Atari SA, a public video game company, since August 2014. Mr. Zyngier previously served on the board of directors of Appvion Holding Corp, a private paper and packaging company, from February 2019 to December 2021, GT Advanced Technologies Inc., a private advanced materials company, from March 2016 to November 2021, Torchlight Energy Resources Inc., a public exploration and production company, from June 2016 to June 2021, Eileen Fisher Inc., a private retail company, from November 2020 to May 2021, Formulus Blank Inc., a private software company, from February 2019 to July 2020, Applied Minerals Inc, a public advanced materials company, from December 2017 to July 2020, AudioEye, Inc, a public software company, from September 2015 to July 2020, First Contact Entertainment Inc, a private video game company, from April 2017 to July 2020, and LootCrate Inc., a private retail company, from December 2017 to October 2019. Mr. Zyngier earned his MBA in Finance and Accounting from the University of Chicago.
https://investor.lordstownmotors.com/news-releases/news-release-details/nu-ride-inc-formerly-known-lordstown-motors-corp-emerges-chapter
https://www.nurideinc.com/corporate-governance/board-of-directors
https://www.nurideinc.com/corporate-governance/governance-overview
MASSIVE GOLD BREAKOUT UNDERWAY: Gold Price To Accelerate Higher In 2024
https://kingworldnews.com/massive-gold-breakout-underway-gold-price-to-accelerate-higher-in-2024/