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Are there court proceedings today? Now that the EC letter/request is on record, curious as to when Peck will address it? TY
Well my friend, they said that back in Dec of '08 also. Of course, they could change the direction of the pps by filing fins and being transparent imo. Take it fwiw.
No. The SS change was a conversion of insider Pref to "restricted" common. Prior to that, they diluted to "survive" The huge run came with news and updates. At this point, I don't think the company is smart enough to do what you suggested. IMO. Been here too long and this stuff never ceases to amaze me.
IYO, will the selling of their "equity" be via open market or Private Placement? I ask cuz if they are sold via pp, shouldn't we expect those $100,000 worth of shares hitting the market well before 60days is up? Oh wait, they are probably "restricted" at .002 lol
My bet is silence. How much credibility do they have left. I doubt the new ceo is getting 650mil shares. What's the odds the increased shares were sold for .006-7 like the likelihood of the others?
Barber, disturbing is too kind a word for this.
Well, I wish you were joking, but thanks for keeping us updated. I wish they were going to bring big news, but unfortunately do not think so. As Andy always used to say to Barney...these guys beat everything. Geesh
As would I. $1.00 would certainly be better than NADA lol. Good luck to us!
Thanks for the update dnoto. Let's hope for the best now it is on record. Damned lawyers and accountants...
Wouldn't that violate this provision in the prospectus'?
of at least 66-2/3% of the shares of such Series D Preferred Stock (i) authorize, create or issue any capital stock of the Corporation ranking, as to dividends or upon liquidation, dissolution or winding up, prior to such Series D Preferred Stock, or reclassify any authorized capital stock of the Corporation into any such shares of such capital stock or issue any obligation or security convertible into or evidencing the right to purchase any such shares of capital stock, or (ii) amend, alter or repeal the certificate of designations for such Series D Preferred Stock, or the Restated Certificate of Incorporation of the Corporation, whether by merger, consolidation or otherwise, so as to adversely affect the powers, preferences or special rights of such Series D Preferred Stock. Any increase in the amount of authorized common stock or other authorized preferred stock, or any increase or decrease in the number of shares of any series of preferred stock or the authorization, creation and issuance of other classes or series of common stock or other stock, in each case ranking on a parity with or junior to the shares of Series D Preferred Stock with respect to the payment of dividends and the distribution of assets upon liquidation, dissolution or winding up, shall not be deemed to adversely affect such powers, preferences or special rights.
That's a shame. For all the discussion of rules for trading and things finra or the sec should monitor, I think it would be more apropos to change the rules and require ALL companies on ANY exchange to file their fins, holdings, etc? IMO, that's what we should be calling for. I'm sure the costs to file are relatively high, so while were at it, we should call for the sec to not make it expensive. Its bad enough these companies can keep us in the dark, but it seems like the gov't "regulators" are the enablers and as much to blame for folks getting scammed and taken for a ride on these otc-pinks.
#4 is an interesting point. Wouldn't they have to show some filing on record to sell their holdings or are pinks exempt from that kinda thing? Man, that's a lot of points to cover especially since not one of those questions (except Food Lion) haven't been answered yet. All I know is if they show more than 200K in "urnings" and less than $4mil in debt, the pps should be better than .004's no?
Couldn't agree more. Especially that crook Paulson and Geithner. Hank, the Goldman good'ol'boy who made a $billion with them, had utter disdain for Fuld and saw Lehman as not worthy to be a competitor. Geithner, Turbo Tim, head of the friggin NY Fed was nowhere to be found as Lehman died. They tried to desperately get in touch with him, and a guy who never didn't answer his cell couldn't be reached. Riiiight. Sorry for the rant, but every time I think about it makes me sick--even if I never bought Leh shares. Regular folk and the rest of the country have suffered because of the greed and hubris of so very few. Lo and behold, GS trades in the hundreds, AIG in the 20's (post R/S but still) with billions in losses still, and here we are likely to get nothing while A/M will get a billion. Only in America, lol. C'mon Peck, throw us a life boat...
Certainly is depressing. To think that Lehman claimed if it could have received a bridge loan days before the BK filing they could have stayed in business. Now, A/M is trying to shut us out and leave equity with nothing. Peck is our last shot. Let's hope he's reasonable.
Me too. Eagerly waiting. Also waiting on Weil to contact him like they said they would. Thank goodness for Troy and all he's done. It would be a shame to his efforts go for naught. Just a waiting game now. Something has to go right for us at some point you'd think. Oh well, good tidings to us all.
Indeed it does my friend. Let's hope it does here...
I'm satisfied to this point. My cup runeth over...but the company has to come through. No more elective reporting stuff. Just do it
Kinda strange how this is trading so very similar to a year ago. If the company can deliver on some promised news/forms and add in a few surprise goodies, we could be on our way to the redux.
Does that come in a scotch?
Intersting news on wmi's shareholders EC. http://www.google.com/hostednews/ap/article/ALeqM5hSJsWmhbZyLfejIucjKC1lyur7WQD9FGS9300
Gee, couldn't see that one coming...maybe one of us still has a shot lol
TY JHAWG! I'm on my BB and can't read the #'s well. What's she looking like? tia
Great point. The damned mark-to-market accounting is just as much a detriment as it was pre BK. Amazing that mark-to-market accounting is still the standard. Suspending or eliminating it should have occurred.
Very very pleased with your efforts Troy. Consensus is an absence of leadership no doubt. I am very grateful for everyone's thoughts, inputs, and insights over these many months.
Great question Barber. Often wonder that myself. Would it be considered insider trading of some sort?
Cool, about time. Now, what's the new CEO gonna get? Did he get pp shares? Geesh
That is the gamble my friend. I too have been buying down here as well, adding to the coffers (though I'm breaking my rule). We'll just have to see. This is exph redux imo. Good luck
Wow, nice sizeable position. Good luck, odds are your going to very very happy imo.
Me too my friend. I'm just looking back at the history and taking that into account. There are a slew of similarities. Imo, the big thing is the resumption of the landmark project. That could prove to provide some decent revenues no doubt. Especially when you compare how other pos pinks trade at ridiculous market caps with little revenues and huge losses. Plus, expo makes tangible products and has known customers. Its a recipe for success, but the company has to come through with the basics imo. If they do, well as I said, I love my swath of .0009's Good luck.
Good point about the 1 share. To be honest, I'm quite perplexed as well...
Let's settle this once and for all. The T/A made a mistake and said they couldn't give out information when they indeed could have. Mistakes happen. Now that settled, about 85mil more to go for A/S to be maxed. How long will that take? The chart keeps getting riper and riper ie accum/dist, just like a year ago. Are we going to know the new CEO tomorrow or Monday, or even soon? If the company releases a spate of news during the next 1-3 months, we are going to get rolling, imo. Question is, how high and can it be stabilized after any drops? That's all I care about. Let's see if the company is going to get real about providing the normal info publcly traded companies do or should for that matter. Release relevant forms of share holdings, release fins timely, and post updates and news when events occur. How hard can it be? Grow the business, complete your projects for the household named clients on time (even better before they are due), make the necessary adjustments to ETC as needed and necessary, and so on. Oh yeah, use the NOL carryforward provisions (5-years back) as well. That's it, I'll be CEO....
In my novice opinion, of the angles we can take, I'd push the NOL issue. Essentially, the POR values equity at zero, cancels the shares and replaces them with one share in lamco. Now, to me that's obviously how they will keep the concept of equity in place to utilize the $10bil NOL dollars. Since equity technically owns the NOL's(?), I would say we have value in some way. Though probably legal and an accounting maneuver, it seems disingenuous to value something at zero, then reap $10bil in benefits from the very thing said to have no value. I'm just trying to logically go through this because the qquestion you pose is a very good one and has an incredible amount of merit. Please let me know if any of the above is off base or inaccurate. Thanks!
That would be the same chart that looks veru similar to the one last year before exph run part one. I might add, the two charts will probably sync up even closer cuz their is still 85,373,534 shares left before we are maxed out. Now of course if the company doesn't release any info in the next 3-4 months then it is all moot. But, I'm betting they will and my .0009's are going to be looking really good in the coming months...they'll be gone, but will be good nonetheless. Good luck Barber, don't miss the boat! All IMO---exph redux
At least he's one helluva multi-tasker. Have to be if he's pushing a cart around while his hands are in his pockets! Do they have those Nascar models like you ee on the calendars working there?
A guy in a suit and tie? To me, a CEO should wear a suit and tie lol
Agree 100%. Just file forms timely and release news and updates when things happen. Simple
Good stuff HAWG. Interesting, felt like I was on the courtroom. Peck is a riot. Would love to see the transcript for the last Barclay's hearing. They have that Boies guy as their lead counsel, should be quite a duel between him and the lead Weil attorney. One thing os clear, if we are fortunate to have our day in front of Peck, our representative better have our/their stuff in order, imo
Fair enough, but the Congresswoman did say the project could bring up to $22mil in rev's. Give or take a few million here or there, I like the possible revenues. Good night all...
Well since were guessing cuz we know squat: could be the landlord, could be some folks from Southern Candle, could be the pastor at the local church, could be the manager of the local A&W? Fact is Iris we have no clue and I admit THAT is the problem. The scenarios I listed in my last post to my logic are more likely. Take what is known, ie, the resumption of the $22mil project. 1st order of paying off equipment debt which makes perfect sense towards the bottom line. Then, its likely they will need more conventional financing for a $22mil project. Knowing lending at the micro-level, I'm sure the lender said hey, you need to pay off some of your debts before we will finance you more cash, hence the second aspect of raising capital to pay off the creditors you mention. Since expo actually produces tangible products that require materials, a $22mil contract that needs to be completed in a rather short time frame (1-1.5 years) cannot be done with a few hundred to five hundred G's of present credit facilities. That's my thinking on the situation. Could I be wrong, of course. But, my money is where my mouth is and I stand to make some serious loot I unwisely chose not to make the last run. Glad you find it all a hoot, but so did others this time last year when exph part one ran like a methed out hillbilly being chased by the police. Time will tell, and I hope I'm right. GLTU
Cool. Just want to be clear. Think we'll see a new CEO announcement before Friday? I say 20/80