Moving the Shrimp to Fiji, if the plan works.
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It is strange, but it makes good business sense. Anybody want to know why?
I just wonder how many people have me on ignore, so I won't speak until spoken to.
I will answer pinkie a little later. I have eight minutes left to edit:) and only 8 posts left until happy hour.
"filed suit against Aleritas Capital "
"Pursuant to the Order, the Special Master is to administer the Special Master Estate which is defined to include (a) all monies, and all accounts into which monies have been or may hereafter be deposited or invested, of any of the Special Master Entities or their subsidiaries; (b) all contract rights of the Special Master Entities and their subsidiaries related in any way to (i) loans and related assets sold in any of the securitizations (the “Securitized Loans”), (ii) loans and related assets of the Company or any of the Special Master Entities or their subsidiaries "
I know what you mean about "going through." Somebody on Ihub seems to support Obama more than is reasonable.
It is an Obama-nation.
We don't need blind support of the president if he can't provide good government.
I saw a homeless man with a new sign:
"Will cheat on taxes for food"
True Story: I started a business and one of my neighbors was a strong liberal democrat. I paid my business license, and he got caught for NOT PAYING the business tax for 3 years. He hadn't paid them for 10.
Did anybody else get those CNTN shares?
See the news?
Merger and R/S rebirth potential. On suicide watch, but I did pick up a few shares.
They have tidied up the B/S a bit, but the beer hall revenues still don't manage to pay for the champagne parties.
SG&A is killing this turkey.
It was also the realization of such courtroom drama and bank leverage that might have made some investors leap to their deaths in the '28 crash.
On the bright side, it is also how Old Lady Eastman managed to buy Kodak for pennies a share.
I also understand that one of the companies which BXXXQ owed money to, is now the owner of many of the shares. They might attempt a power play in the courtroom, and offer DIP reorganization through Chapt 11 to rescue Aleritas. If you look at Reiderer's record, he has lots of companies in liquidation process.
They have stayed in liquidation, and reorganization might be a foriegn concept to him. He might not have the talent or the initiative to do anything else but liquidate. He might have special friends in the industry who are waiting to pay him 10 cents on the dollar for assets as long as the court approves the sales. Some assets are difficult to sell, and a bankruptcy judge will typically allow deals like that to be made. Unless you have about 50 million in cash lying around, you don't get the opportunity to make such deals, but they have, and they do.
It's stuff like that which made people very unhappy with banks in the Great Depression, and made Bonnie and Clyde more hero than criminals.
You do know that "Special Master" Reiderer was appointed?
"Special Master" is another word for liquidatator. It doesn't mean "Chief Executive Officer"
The bid price indicates that most people know that this company is in serious financial difficulty, and that there customers (who happen to owe them money) are failing left and right. If they are not in BK, they might be owed money by BXXXQ, and not get paid in the court, and end up being BK soon.
I still would rather be in the courtroom.
It's only a couple more days until the court appearance where they throw caution to the wind by telling the Judge before they tell the shareholders. IMO, that is a violation of Reg FD.
If you can get into the courtroom, you might catch a real serious trading advantage. If you do it, send us an email before this thing rockets to the moon, K?
If they say the words "debtor in possesion" or "reorganization" especially when combined with a numerical financing package, then we could have a leg to stand on.
Silly me. I actually posted that before closing my open sell order. Nobody bought them at .0018.
Too bad. Too late.
Merger is proposed with this company:
Consorteum, Inc
http://pinksheets.com/edgar/GetFilingHtml?FilingID=6473485
http://www.consorteum.com/index-3.html
Not enough info yet, but it looks like a mover in the near future.
Whassup?
.0011 x .001
cross it or lock it. beotch.
Must be a broker problem. Pink sheets system shows
.0008 x .0015
Now if they bought those GM junk bonds I suggested a few months ago, those Jesters are laughing all the way to Liverpool.
Double your money, and it still pays 40%
See what I mean?
http://futures.tradingcharts.com/chart/BP/W
They actually looked like geniuses last year. They had pound denominations. The dollar is up 20% this year, and they look like Jesters again.
But isn't that all calculated by the bean counters in the regular course of business? Is the insurance business all about never knowing what the company is worth 10 years after a tornado, fire, flood, whatever; or do people actually have the potential of investing in the business instead always speculating? It sure doesn't sound like a business I will be investing in when the price is high.
Of course, Buffet always had a good formula. Invest the insurance reserves in businesses that pay well. These guys seem to carry government paper. Not very creative. Safe enough if they don't need to pay out claims. Their track record doesn't seem to bode well for Canopius, IMO. It is the same people with the same mindset.
All the King's Horses, and still the King's Men.
And now what are they out to prove?
That they can't even count beans?
This one needed to do it to get the price up, but they did it with a name change, and that is a bit suspicious, but they were a shell, and now they have a business model.
It's hard to say if it is a gross diluter yet. I should do a little more research on the old filings and see if they have just been looking for a business model and keep stepping in the dog pile.
There are good reasons to dilute, like getting paid for real work. It's not always cut and dried that a model will pay off. They went Canadian, not Chinese, and I think that is a good sign. I have seen some real crazy dilutions on the China side, but most of the Canadian business models haven't worked out for me. They look good on paper sometimes.
I just saw that CNTN announced a R/S of 100 to 1
It seems that they are a repeat offender, according to filings. They will be changing the name, and I am a brand new bag holder.
Did you see the 8k's.
It isn't a shell anymore.
We're doing a 100 to one R/S
New name is Consorteum Holdings.
Trenwick is just a far more speculative play. If they don't cancel, you have a Bermuda Shell. You have the potential for Canopius to do a reverse merger and go public. It's almost like the Humpty Dumpty play that Southern Bell pulled off with AT&T, only this time, the King's Men are involved, and they are not very good a Humpty Dumpty adventures. They couldn't put the original one back together again. They don't seem smart enough to buy the NOL's at this bargain price, or it would be a done deal, and the liquidator's could be retired instead of waiting for another $6 million paycheck.
They really shouldn't be too concerned. The King's Horse's aren't involved this time, and they were the ones who screwed it up the first time. Maybe they can put a few bucks together and get a race horse that can outrun anything the King owns. Or they could get a good old American Draft horse to pull things together.
I see. I got 'em complete with bloodstains at .0009.
They seem to have a well kept shell, so I am on the bid. Why don't you sell me half?
Oh, nevermind. They filled me. I got 100K too.
I like the charity idea, but I am sticking with the LSRAF for now. I like the idea of first claim on anything, or nothing as the case may be.
Hey, I know you;)
Wazzup Carlito?
Why this stock sooooo cheeeeeeP?
Even WAMUQ ran.
GMAC got 6 billion from the Gmen, and the bonds are still showing Junk prices in my portfolio.
Current yield is about 50% and I would think more reliable than investing with Bernie.
But, don't forget; It's our little secret, K?
Hard to believe they can continue to spend money and not make any for the shareholders, but that is American Business in its finest hour, no? Plenty of money to pay exec's but never enough to pay workers or shareholders. Go America! I hope they hVE enough to pay political contributions before they pay a dime to shareholders, huh?
You might get it for .15, but that is not a nickle.
I might take some at .15, or .12.
I think there are certain periods where insiders aren't able to make purchases, and they won't be able to support the price during those days. We could wait and jump when we get a bargain. I am with you on the patience angle. I just don't figure that a nickle is likely unless they continue to spend too much on S,G,and A.
Did you see the insider buys? Those guys aren't going to let you get it for a nickle. I bet they have even more money left to buy it with. I mean, they have nice jobs, right?
After he drinks it, he can cash in the cans or bottles!!
How hard could it be?
"We have now focused our financial and personnel resources on the growth and enhanced profitability of our coil processing equipment and services businesses". http://www.allbusiness.com/company-activities-management/business-ethics-corporate/6410849-1.html
Are they trying to hide the pink shares, or is it another company?
Mifsud joined the canadian company in 2001 and the BK only affected US (domestic) subsidiaries. They sold all of the US assets and got about $7 million in DIP financing at the time of the last BK filings. They use the same name and do the same business.
WHAZZUP?
GWI.TO moving up.
It sure would be nice to know what I own.
http://biz.yahoo.com/iw/090305/0479720.html
I wonder if we will actually have to be in court to get the news. They don't seem to follow Reg FD when it comes to BK proceedings. It would be nice to have a man on the scene.
Fishing for stops?
I would like to know exactly what they were wearing. This is my last post today. I did 15 already. My deepest hopes for finding more of the lads, and my thoughts are with their families.
Evidently we are on a "need to know" basis. If Reiderer or the FBI has any information: We need to know.
I managed to add 25K the other day, and they haven't done anything but mark time since.
I put a bid in at .005, and the MM's followed me. I didn't get that one filled because I let it expire at the close the day before. I left the MM swinging in the breeze the next morning.
But life is so precious. I feel for their families.
I would suggest orange:
http://www.mustangsurvival.com/products/product.php?id=474&mc=70
Also, I contacted the transfer agent a few months ago, and they verified that the common O/S is about 17 million. I didn't ask about the preferreds, but they don't look like a serious problem for anyone who has the skills to do a takeover here.
The debt might be a more serious concern.
Those guys might want to consider wearing wetsuits on a flight like that. 45 seconds is all you have in cold water. Your muscles don't function after that. A wet suit would be a burden to put on, but it could save your life.