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Looking to change brokers for OTC and pennies. I have read Cintrix' previous posts but have a couple extra questions.
Having gotten my feet wet on OTC's and pennies, I've learned that there is more than the check boxes to evaluating their services. So, for example, a brokerage might claim to give free Lvl2 data but that does not include the OTC. They might also claim flat commissions but add on surcharges for stocks trading for less than $1.
I've read Cintrix' NerdWallet links about "Best ..." Those cover the surcharges but I can't find any info on which exchanges they offer real-time data. Specifically, I'm interested in e-trade primarily because it appears to do everything (stock, options, bonds, pennies, etc) under one roof. Does E-Trade offer Lvl2 for OTC?
TIA and GLTA
Please sticky note Posts #4638 and #4584.
Great info, Cintrix.
Old shares are completely worthless. BK is finalized and converted. If you own paper certificates, use them for wallpaper. If you own electronic stock certificates, they are not worth the electron bits that hold them.
Hope they issue the power plant as a PR.
Wondered if they were going to get into power generation. One of my favorite stocks this year, SXCP, is a coke producer that sells the exothermic energy to a nearby power plant. I think such a setup would be awesome for NEWC and Columbia.
Eventually, they should ship finished coke (the coal variety) to China and use the waste heat to generate electricity for their homeland.
Re:17 days ... "even the Donald". Hit the nail squarely on the head. Inauguration.
Thank yo for the courtesy of the reply. Take it that there are no scheduled dates, just an eternal BK.
What is the timeframe for any of this to happen?
Just found this stock. (Thanks Deanna-hopkins!) As someone that does their DD, I'm trying to read up on this. Unfortunately, with the start of the new year, things are really busy at the office also. Alas, my stock research time is limited for the next couple of weeks. I don't normally ask for simple information that such be easily googled but I'm not even sure of the right search terms here. So I ask a bit of forbearance.
Can anyone give a synopsis of what may or should happen in the next 2-3 months regarding this case?
TIA, GLTA
I like the way your mind thinks. Oh, and me too.
Only if one plans to hold less than 14 days or just wants to loose money.
BK is coming because the company formally said so in their 8K.
Those who refuse to read the news should NOT invest in bankruptcy or near bankruptcy stocks. These are high risk stocks. Money can be made (and I have made some serious change) but can more easily be lost (done that too). One has to stay on top of the news with BK stocks.
Technical trading has it's place and can be fine in "normal" environments. BK near rulings or motions are not normal environments. A trader needs to understand that the courts and the judge will make rulings that absolutely veto any technical signals 'cuz, quite frankly, he doesn't give a dam* about market sentiment, the price of oil, etc. Those signals nor anything else for that matter will enable one to read the judge's mind. Judges have their own reasoning. The Breitburn judge agreed with equity's arguments and ruled thusly making many of us 5x our money. Meanwhile, a Texas BK judge (sorry, can't remember his name) agreed with the arguments of equity but still ruled against them for legal reasons. That stock plummeted 80% (1/5 the money) in an hour. Who has burden of proof is a huge issue.
There are other issues, such as CODI, but I'm not trying to fear-monger, rather just tell people that they MUST do their due diligence such as reading the news or get seriously burnt. If you can, or choose not to, read the news and do your own valuation calculations, STAY OUT.
GLTA
Wonder if I'll get any at a nickle. Condolences for those taking a loss. OTOH, when the bk is filed, the price will fall below the value at 2% of the company.
GLTA
All court hearing s, unless specifically closed, are public.
Open Announcement of what?
Anyone know the POR specific values. I've dl'd and read many of the docket paperwork and can't find any specific numbers. I'm trying to calculate the value of the stock and bond but the POR just has an * where any number should be.
Absent any specific numbers, does anyone have any ballpark numbers that they have run?
TIA and GLTA,
Mark
There are many free, online translators such as Google Translate (translate.google.com), Microsoft Translator (www.bing.com/translator), and, my personal favorite for conversational translating, babelfish (www.babelfish.com). They aren't human professional quality but are surprising good at business type language because it doesn't use a lot of idioms.
Court Date: Dec 18 for Omnibus hearing. That's really just a normal hearing to talk about any matter. We don't know when the Plan of Reorganization (POR) will be announced or any possible date for the judge to accept the POR.
As Larry said, they never intended to shut the business down. Hence, a Ch 11 vs Ch 13 BK. That being said, everything they are producing says that this was always a viable company and never should have entered BK in the first place.
OTOH, I am a bit thankful. Mom always told me to make hay while the sun shines. I have been an investor in BBEP/PP on and off since November of last year. Luckily, I was always able to exit at a profit before the BK. I took a seminar from Larry Williams in the '90s that talked about exiting any position at a 10% loss regardless of what you think about the company. When I failed to heed his advice, I learned the hard way. (Cisco in 2001 was a REALLY hard lesson.) Since then, the BK has made me and several friends many multiples of our money because of the price collapse. Bought at $0.06 sold at $0.49; rebought at $0.33. Not trying to brag, just thanking the gift horse.
I know the BK hurt a lot people, hopefully some of them will be able to ride it back up.
Spark, did you write this?
What's the news this week. Missed the opportunity a week ago. After sliding to a new base, looks like it is powering for a new run. Are there wheels here or just a quick flip? I'm thinking in tomorrow at 7 and out at 10 for a flip? GLTA
So, the day of the ruling was your intentional exit?
So, why did you buy it in the first place?
Re: sale at 0.81. Congratulations! Hope you made some change.
May I ask why you sold? Was it just a target price?
PGNPQ's judge denied that plan because it didn't properly preserve the company. The judge was actually acting in the interests of Equity by ensuring the company had enough operating capital to actually continue as a long-term on-going concern.
To be open: I took a gut-punch with PGNPQ because I over invested. Not blaming anyone; that was my mistake. I'm not normally a ride-it-until-the-end investor but in this case, my ROI may have to wait a while.
How can they file an objection when they haven't even officially formed yet? I think the judge will give them time to get formed so that they can file objections to things such as this.
Wildbilly, you do know that we can't see files on your computer, right? Dragging a file from your computer into the message doesn't actually copy the file. It only puts a link to wherever that file is. In this case, the file is on your computer so it puts a link to your computer which we can't access.
It would be a lot better if you put a link to the court docket which is publically accessible.
Neither can anyone else. Read through the docket and there were no serious objections. There are always those who say, "If we do it my way then I get more money. Of course, you get less money, but that's irrelevant." I'm thinking the judge will ignore that argument in favor of a what's best for the company which is to exit BK and get on with business.
The one from last year or is there a swap in the POR? I read the POR but don't recall where equity will get anything. I may have missed something.
Make your penny back and then some. You will probably be able to buy tomorrow morning at about 40. Think of it as getting a 7 cent discount.
They are in midst of appointing the EC. Letters have gone out to people to ask them to join the EC. Several of the active members on the Yahoo Finance board have been asked to join. That will give at least 3 very strong advocates for the common shareholders.
It may take a week or two for the EC to meet yet. This is not a delay but operating in timely manner yet doing the due diligence.
CF: BK as court of equity
https://en.wikipedia.org/wiki/Court_of_equity
https://en.wikipedia.org/wiki/Delaware_Court_of_Chancery
In case you are going to argue that these is from Wikipedia and mean nothing, please refer to their references.
As the English would say, good on you. Let's ride.
Been there waaaayyyyy too many times. :)
For us "less well subscribed" folk, cash management can be as big a challenge as stock picking and timing.
BK Courts are courts of equity as well as courts of law. In this case, "equity" doesn't quite mean the same as stockholder equity; it means what's fair, right and wrong. Sadly, in too many of the corporate BK cases I've seen, the judge has ignored this duty. But, that doesn't mean all judges do and I think our judge fully recognizes his duty.
CSTI has a solid floor at 407.
That is exactly why I posted my order pre-open this morning. Yes, I paid more than you could have but got my fill. :)