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I couldn't find it in the "normal" WSJ. Apparently, there is a Bankruptcy limited edition.
Bonds have quadrupled in price in the last 3 days. The current POR had them worthless for the retail bondholder.
Is that when he lost a lawsuit in PA for over $4M? And that was only ONE of the judgement against him.
I'm lurking
Last Tue at about 3:30, the Debtors submitted a new evaluation, er "exercise", showing why Reader's evaluation was $1.1B too high. The new "exercise" valued the company at $2.6B. But, oh by the way, they "forgot" to include the Permian assets in that.
Debtors did not include Permian in their latest "exercise".
EC hasnt presented its closing arguments.
I'm told they just started closing arguments.
Lucky guy. So was the guy who bought 5000 at 3.8
I misunderstood you. I read, apparently mistakenly, that what "we now know" is that equity is put of the money.
What do "we know today" that points to non-recovery of commons.
Judge said about the new eval, "if your numbers are correct, I can't approve the POR." EIG is fighting tooth, nail and eyelash.
Reminds me of Monte Python's Holy Grail, "Come back hear you coward I can still bite you."
Well, that was entertaining. Wow, Debtors bring in an 11th hour reevaluation.
LOL. Larry, can't wait to buy you a beer.
No, it will fall to a penny if unfavorable.
Historic price for in-the-money commons of companies during BK.
Day traders and someone always has to sell for an emergency. Also, could be asset reallocation.
Yes. It will dip again as they figure out the detail leading up to exit. I expect it to hit 60ish after the ruling; dip to the mid 30s for about a month; then a run up as they near exit.
If he rules ANYTHING favorable to us, the price will hit $0.60 by Thursday.
Continuing the same hearing from last Thursday.
I expect a decision on Wednesday. Judge Bernstein will want to to write something instead of just a verbal from the bench.
Who is testifying?
I expect the judge to reject mgmt's valuation.
Yes. The board is relatively quiet waiting on the hearing on Friday. Feel free to read the extensive discussions on how BB got here.
Neither. It has no bearing on what equity will get.
Docket #1517 Agenda for Aug 24. All items are contested fees. Apparently, the trustee is thinking the lawyers fees and expenses are getting out of hand. He has objections to almost every submittal.
http://cases.primeclerk.com/Breitburn/DownLoad-DownloadPDF?id1=NzEyMTY4&id2=0&id3=0
It wasn't just $504k. That was my confusion also. It was for several million with the final $504k in installment payments.
Nobody walks away from a business that is making money.
at least a forward looking statement.
Docket #1511, et al. "NOTICE OF ADJOURNMENT OF CERTAIN
MATTERS SCHEDULED FOR AUGUST 24, 2017" Everything originally scheduled for 8/24 which, really, were technical matters not the general POR, have been rescheduled to Sept 28.
As per someone's email in a previous post, the CEO doesn't like to make PR's just to move the price.
For all of the naysayers, this to me is a huge piece of evidence that this is not a scam. Scammers pump-and-dump, not quietly add value under the radar.
Did my part too. Picked up 450k@46 avg. Even bought a few at 50 just to kick it in the a$$. Really good part is that after the 1500 (partial order) at 50, executed 50k at 46. WIN!!!!
UpOrDown: Thanks. The 8k I read only mentioned the $500k over 7 years. I'll look further.
What was the purchase price for Big Red? What are the details of the payment? Cash, shares issued, monthly payments?
It was sarcasm.
Re: ASI letter. I have read it. Didn't get your take at all. Also read the follow ons.
Poor choice of words. I did not mean to imply that it was publicly traded but, rather, that it was a long-standing company with a public reputation to support.
Why would a public company do business with a known "junk company"?
Old commons? No. New commons, yes but at an unknown date.
I would say "on hold". I trust that ASI, being a long standing company would do their own DD before signing the contract.