Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Does anyone here know who holds the 5million convertible preferred shares or if they are even issued? This is important info!
Same questions different days. These are the uncertainties that we face so that's why they're being asked more than once.
What needs to be determined is if the R/M can be effected and equity still be cancelled. Is there precedent set for this to occur? I know for sure the NOL benefit will affected by any move against equity but I'm unsure about the R/M process.
HDOG...who holds the 5mil convertible preferred shares? In the 10K it states they are "not issued" but divis were being paid on them. Do u have an further info on this matter?
TIA
That deals with asset sale in 2009 to exclude shares and other assets from said sale.
Yes but they will lose/lose value in the NOL (net operating loss) benefit which can now be extended as far back as five years instead of two previously. Share structure must remain intact.
It means Plan of Reorganization
Article says march were in august!!! what website is it from...hope it not the link at the bottom ie
www.PHONIEnews.com
And that my friend is why we are all here....to weigh the risks vs the rewards. As far as i'm concerned the benefits far outweigh the risks here and thats why i'm in, but i get your point.
Okay...fair enough but please enlighten me as to why your posts infer that commons are toast or are they already??? All of your links are useless in terms of this case unless they can be directly correlated to this one, yet you postulate that they are applicable.
Creditors have "SETTLED" with no claim to the shares or the company shell, which i might add sets up the possibility of it being used to merge the old and new companies.
BTW whose yelling??? I'm just sayin....that is!!!!
While i agree that commons are not 100% "SAFE" as in any bankruptcy, there are a few facts that you continue to omit:
(1) Only the judge can approve any cancellation of equity so even if the company submits a plan which promotes the judge has the final say. It must be shown that recovery for equity is not possible or the company is hopelessly insolvent.
(2) The company has settled with creditors so they will most likely emerge as a debt free entity which goes hand in hand with my previous point that insolvency must be proven. This is rare since in most reorganizations the creditors are not paid in full and are offered a stake in the new entity as compensation. This is clearly not the case here and i dare you to prove otherwise.
Note: i am no lawyer but i have have intensely followed the WAM_Q case since its inception so i am familiar with these types of proceedings. There was a poster there also who posted like you using links to general bankruptcy cases but upon further investigation it was all shown to be meritless and just
"SMOKE AND MIRRORS".
I'm just saying that is!!!
Have they settled with "all" creditors or with the main ones??? Will they be emerging as a debt free entity?
Can u be more specific as to which post/document? i'm at work not working while i steal time to post and follow here!!!!
Question to longs: Can anyone direct me to relevant links or inform me why the principals can't/won't cancel shares of the company and emerge as a new entity debt free???
PS: please no posts calling me a basher, i'm just looking for info before i jump in. TIA
FACTS: Pinksheets- FFGO = Caveat Emptor
Management- Lumb = Convicted(UK) scammer
Shares - Total = +or- 74 Billion..yes thats BILLION
History - Divi = due since 2005 or so and counting
and the list goes on and on and on.....
Are you his broker? He obviously posts to discourage others from investing in this POS so if he holds a position only he can answer that for you. He probably bought in higher and realised too late FFGO is a "money blackhole"????? I'm not clairvoyant so his reasoning as such would be a mystery to me. I can only commentate on the content of his present posts... nothing else.
Dont sweat it man..on the 12/08 when another excuse is given for a delay some will come around to what you're saying. I was just like them a few years back on another POS stock scam and attacked those that tried to warm me and others about it (janice shell and jim bishop) but we did'nt listen and paid dearly. Continue to try and educate those that are blinded by their GREED in not seeing the obvious. Keep it up...you may convince at least a few of them.
NB: 74 BILLION SHARES!!!....c'mon people!!!
Cool...Thanks. i was a bit disturbed when i first saw it.
Correct me if i'm wrong but are'nt the majority of the subs listed and the more valuable ones at that listed as the "BANKING SUBS" ie they were under the bank. This would lead me to believe that these are of no benefit to WMI or us shareholders!!! Please enlighten me if i'm missing something.
while this could be posssible i really dont see the various creditors waiting that long to get their money. remember 30+ million a month in lost interest plus lawers fees would milk the estate of a cool 400-800 million!!!
YES IT DOES...FOOLS GOLD!!!!! EOM
You are very correct...but she has previously ruled that she cannot and will not pierce the laws that govern holding companies and their subs ie "the corporate veil". so basically i see this as her being deliberate as she is with everything else in this case.
Correct...largest claims, marta and wmb bondholders are legally against the bank not wmi.
Ok....i've now had my fill laughing on this board. I can now move on to another stock thats less of an obvious SCAM.
Wow...74 billion shares +, no bid and an infamous/confirmed UK scammer at the helm of this debacle. GLTA...you'll need it!!!!
Its the list of assets that was transferred/sold to JPM in the P&A(purchase & assumption) agreement by the FDIC. It initially appeared in the early copy of the agreement but later mysteriously dissappeared when the FDIC realised they made a boo boo by giving JPM some of the holding company's property(WMI).
Just signed up with twitter. Whose tweets can I sign up for to follow court proceedings?
Most likely docs since TPS attornies want discovery also on how $4 Bil TPS were given away to JPM.
Most likely docs since TPS attornies want discovery also on how $4 Bil TPS were given away to JPM.
MODS DO UR FRIGGIN JOB AND UPDATE STICKY!!!
The most compelling speaker for our interest was the lawyer representing the trust preferred securities at the 2hr 20 min mark in the audio file. He says exactly what needs to be brought out in this case about the collusion/fraud associated with this POR. Everyone who hasnt heard him needs to listen to it.
sorry..my bad!!!
WOW!!! were basically just paying the fees away from obtaining the patent for the Go800 text to connect process.
Check post# 74810
It would be in the debtors objection to the appointment of the EC, the response to the objection from Venable(i believe) back in Jan/Feb and in the audio for that hearing. Unfortunately i dont save these docs so if anyone has them please repost or send link to "steel58".
Anybody remember during the arguments for/against the appointment of the ec, B. Rosen stated that they were already repsent the interests of shareholders so an ec was not necessary? Now on 03/06 they now say they will not share work prod since debtors and ec are not on same side. So which is it???? I wonder if THJMW remembers that exchange!!!!!
Exactly!!!! Just a bunch of irrelevant $hit that is of no consequence.
Be careful ppl. I dont think this is a legit run until the pq's starts moving also.
I believe your post about the meeting/s but this "meeting" was suggested by brian rosen during the 03/06 hearing(listen to audio file) for the parties to discuss the documents dispute. What they actually discussed is anybodys guess.
im gettin the feelin somethings up. L2 very chaotic today with MM's nite and etmm jockeying for lead positions on bid/ask.
good or bad... i have no idea. jmo
bein screwed would have felt sooooo much better if the did!!!! lol
i did place it as aon but they wouldnt fill me(almost 30 mins) but as soon as i removed the aon they filled 5000 and moved it to $0.0221.