Twitter: @Calderquacks
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Here is what they sold:
- John Thorton (Director) sold 194,845 shares from his trust (11.06%) of the total 1,760,595 his trust owned (not him directly). His wife still owns all of her 101,246. His foundation still owns all of their 15,000 and he personally still owns all of his 171,044.
- Russell Clark (CFO) sold 3,180 (7.19%) of his 44,199 shares.
- Michael Diamond (CRO) sold 4,466 (6.34%) of his 70,351 shares.
-James Debello (CEO) sold 9,050 (1.73%) of his 523,592 shares.
Yup, insiders sureeeee sold big LMFAO!
They sold hardly anything compared to what they own and that was several days ago. Nice try though
Calderquacks is locked and loaded for Thursday! I seriously don't think they'd have a call and live webcast with a presentation if the news wasn't good.
If it wasn't good, they'd just announce it without warning.
Haha don't get me started on missed opportunitys, I coulda had $JAZZ under $2 back in late 2008. I bought some around $1.50 and then sold just under $2. Yeah, it hurts haha
Yeah I definitely agree and i'm pleased to see it is holding up right now, thought for sure the MMs would manipulate it down lower but it doesnt seem to be budging below $2.70. Good sign for $MEET longs
Yeah, this company seems pretty legit albeit I havent been following it long. IMO when a company is legit, it is the MMs and hedge funds goal to get shares as cheaply as possibly (yeah, rocket science, I know).
It would not surprise me to see MM's short this down all the way to $2, or possibly less and then cover and add a TON of cheapies around $2, which will rebound the stock to $4+.
Heads up to long's, tomorrow morning might be a great opportunity to dip buy and add to your position.
Chart setup today looks very similar to last Monday, which was followed by a big sell off Tuesday morning, then the stock rebounded. I'm looking to buy on the dip tomorrow morning in the first hour or so.
You said $10/share, not me
Looking at all the events too, it wouldn't be unrealistic for XOMA to get acquired. Reduce the workforce and selling your manufacturing facility because someone with their own manufacturing facility could acquire them? Definitely not unrealistic right now.
GLTY but i'm done with this POS scam and Fraud Fenster
Yeah. Pretty much all ESCR common shareholders are super screwed now. Especially since most brokers wont let them trade until monday. Wish I had an account to short this POS right now but none of mine let me short anything under $1
My mistake, i see it now. Thanks!
I feel bad for whoever just gobbled up my shares. I had to call in my order to ETRADE to have them execute it. FML, I can't believe that jerk Fenster can get away with that.
Granted the Judge still has to approve it, but we'll see. Not good and a giant slap in the face by mgmt to shareholders.
https://www.etrade.wallst.com/v1/news/marketnews/marketnews.asp?freeText=ESCR&newsType=all
You are incredibly incorrect, you are simply basing this off a post on yahoo finance. http://finance.yahoo.com/mbview/threadview/?&bn=7d80adbc-240f-471d-87e3-f9ff1bc6f040&tid=1446823529838-879e23dd-a8c6-4b33-8090-0034af7a63ba&tls=la%2Cd%2C0%2C3
Based off their most recent 10-Q, net Assets are 30MM more then net liabs.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10863878
Yeah, i Only use stop losses when i'm shorting and set them for covering.
When I short, i'll hang out and if after 10-20 mins it looks like i'll be in trouble, i'll set a stop loss at ~10% over my short position or however comfortable my risk level is.
Then when a stock tanks, I wait until i'm over 10% up and then set my stop loss and keep it about 5-8% over the current PPS, giving it alot of leeway to bounce around a bit without triggered it.
I never set a stop loss less then 10% from the current PPS
We shall see my friend.
Overall I think we can agree, that with ESCR now in the hands of creditors and the court, instead of Stephen and Adam, we are better off as shareholders.
IMO, common share holders should see over $.10 ($1,429,000) total, as the companies book value is roughly $30 Million. Preferred will see $1-4 plus the $.90 dividend, putting that at a max of $7,500,000.
So in all, i think shareholders will get roughly $9MM-10MM, and the extra "$20MM" in value will be much less after the discounts they sell things at and paying for court and legal fee's, etc.
Possibly yeah, but I'll still keep my small position and ride it out. The company still has far too many valuable assets to wither away and die.
IMO the creditors make them take a buyout offer if its on the table. If this was at $.20-$.30 a share and they announced this, then it would tank HARD. But IMO I dont think the PPS drops much more.
They finally filed CH 11. I think its a good thing because it takes control away from management who put the company in this position in the first place. I don't think the price will fall much lower then where its at now.
IMO this turns out better for the company. And we see a PPS rise over time from where we are now. Hopefully they get acquired and the filing of CH11 signals acquisition opportunity to other companies
$ESCR files voluntary CH 11, seeks buyout/acquisition.
Current PPS is $.04/share, book value is $2.09/share. Would be a great acquisition target for a big company!
http://finance.yahoo.com/news/escalera-resources-files-voluntary-bankruptcy-220000938.html
$ESCR files voluntary CH 11, seeks buyout/acquisition.
Current PPS is $.04/share, book value is $2.09/share. Would be a great acquisition target for a big company!
http://finance.yahoo.com/news/escalera-resources-files-voluntary-bankruptcy-220000938.html
Yeah I saw that. IMO it'll better set them up to be acquired. The company is valued much more then the current PPS for its assets
Watching the L2 today, somethings up. The price will pop down and then a couple MM's will bid higher than the current PPS. They are all fighting for shares on the bid.
Something big is up IMO
Yes sir. Once $1.75 cracks, I bet alot of shorts stop loss orders will get triggered and we pop north quick
Yeah it does. $1.74-$1.75 have been pains but i think we will crack $1.75 and head north quickly, especially since shorts will start panic covering
$ESCR Book Value over $2/Share. Currently trading at $.049
ESCR DD for new investors,VALUE estimations.
Most of this DD provided by user Ash111 with updates by me:
ESCR's value is $33.3MM per previous 10Q (Market Cap is only $400K):
Total liabilities (including St+Lt are $67MM). actually the balance sheet very solid due to Total Assets/Debt ratio way over 1. $97MM-$67MM= $30MM Net Assets. + about $3.3MM in Cash.
$30MM Net assets/14MM o/s= $2+ PPS!.
"LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY" "about the same as a year ago.even lower!!
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10863878
TOTAL ASSETS $ 97,710
TOTAL LIABILITIES 67,708
it means,NET ASSETS = $30MM
Cash and cash equivalents $ 3,385
3. 10k: ESCR's proved reserves- net cash flows $ 90,112(in millions),December 31, 2014
Based on Total proved reserves 246,570 - oil
Total proved reserves 85,846,208 - Natural Gas
"We engaged an independent petroleum engineering firm, Netherland, Sewell & Associates, Inc. (“NSAI”) to prepare our
reserve estimates at December 31, 2014, 2013 and 2012. NSAI is a worldwide leader in petroleum property analysis for
industry and financial organizations, and government agencies"
"As of December 31, 2014, it had estimated proved reserves of 85.8 billion cubic feet of natural gas and 247 thousand barrels of oil; owned interests in approximately 1,200 producing wells; and had an acreage position of 112,219 net acres in natural gas prone basins primarily located in the Rocky Mountains".
Just for Comparison:
Warren market cap is $42MM and they have only $4MM more in cash. ESCR market cap is only $430k!!!!. "Warren’s cash flow from operations in the second quarter of 2015 was $7.0 million"..
the SS much better, 14MM o/s(ESCR) vs 81MM for $WRES
$ESCR Book Value over $2/Share. Currently trading at $.049
ESCR DD for new investors,VALUE estimations.
Most of this DD provided by user Ash111 with updates by me:
ESCR's value is $33.3MM per previous 10Q (Market Cap is only $400K):
Total liabilities (including St+Lt are $67MM). actually the balance sheet very solid due to Total Assets/Debt ratio way over 1. $97MM-$67MM= $30MM Net Assets. + about $3.3MM in Cash.
$30MM Net assets/14MM o/s= $2+ PPS!.
"LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY" "about the same as a year ago.even lower!!
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10863878
TOTAL ASSETS $ 97,710
TOTAL LIABILITIES 67,708
it means,NET ASSETS = $30MM
Cash and cash equivalents $ 3,385
3. 10k: ESCR's proved reserves- net cash flows $ 90,112(in millions),December 31, 2014
Based on Total proved reserves 246,570 - oil
Total proved reserves 85,846,208 - Natural Gas
"We engaged an independent petroleum engineering firm, Netherland, Sewell & Associates, Inc. (“NSAI”) to prepare our
reserve estimates at December 31, 2014, 2013 and 2012. NSAI is a worldwide leader in petroleum property analysis for
industry and financial organizations, and government agencies"
"As of December 31, 2014, it had estimated proved reserves of 85.8 billion cubic feet of natural gas and 247 thousand barrels of oil; owned interests in approximately 1,200 producing wells; and had an acreage position of 112,219 net acres in natural gas prone basins primarily located in the Rocky Mountains".
Just for Comparison:
Warren market cap is $42MM and they have only $4MM more in cash. ESCR market cap is only $430k!!!!. "Warren’s cash flow from operations in the second quarter of 2015 was $7.0 million"..
the SS much better, 14MM o/s(ESCR) vs 81MM for $WRES
ESCR DD for new investors,VALUE estimations.
Most of this DD provided by user Ash111 with updates by me:
ESCR's value is $33.3MM per previous 10Q (Market Cap is only $400K):
Total liabilities (including St+Lt are $67MM). actually the balance sheet very solid due to Total Assets/Debt ratio way over 1. $97MM-$67MM= $30MM Net Assets. + about $3.3MM in Cash.
$30MM Net assets/14MM o/s= $2+ PPS!.
"LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY" "about the same as a year ago.even lower!!
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10863878
TOTAL ASSETS $ 97,710
TOTAL LIABILITIES 67,708
it means,NET ASSETS = $30MM
Cash and cash equivalents $ 3,385
3. 10k: ESCR's proved reserves- net cash flows $ 90,112(in millions),December 31, 2014
Based on Total proved reserves 246,570 - oil
Total proved reserves 85,846,208 - Natural Gas
"We engaged an independent petroleum engineering firm, Netherland, Sewell & Associates, Inc. (“NSAI”) to prepare our
reserve estimates at December 31, 2014, 2013 and 2012. NSAI is a worldwide leader in petroleum property analysis for
industry and financial organizations, and government agencies"
"As of December 31, 2014, it had estimated proved reserves of 85.8 billion cubic feet of natural gas and 247 thousand barrels of oil; owned interests in approximately 1,200 producing wells; and had an acreage position of 112,219 net acres in natural gas prone basins primarily located in the Rocky Mountains".
Just for Comparison:
Warren market cap is $42MM and they have only $4MM more in cash. ESCR market cap is only $430k!!!!. "Warren’s cash flow from operations in the second quarter of 2015 was $7.0 million"..
the SS much better, 14MM o/s(ESCR) vs 81MM for $WRES
$WRES & $ESCR possible merger
I’ve heard from several people that they think there could possibly be a merger between $WRES & $ESCR in the work.
I’ve been following these two companies for a while so I thought I would take a closer look at it and IMO, I think they could be right.
Here is a timeline of events which will be followed by my opinion on what could possibly be happening:
5/6/2015
“$ESCR receives delisting notification from NASDAQ and has until 8/27/2015 to regain compliance”
http://biz.yahoo.com/e/150506/escr8-k.html
6/16/2015
“Escalera Resources Announces $47 Million Purchase Agreement to Expand Atlantic Rim Holdings”
http://finance.yahoo.com/news/escalera-resources-announces-47-million-130000800.html
$ESCR announces it plans on acquiring $47MM worth of assets from $WRES by 9/1/2015
6/26/2015
“$WRES receives delisting notification from NASDAQ and has until 12/21/2015 to regain compliance”
http://biz.yahoo.com/e/150626/wres8-k.html
8/6/2015
“$ESCR enters into a Forbearance Agreement amendment with its credit facility”
http://biz.yahoo.com/e/150806/escr8-k.html
$ESCR is hurting for money
9/1/2015
“Companies extend deadline for purchase and sale agreement to 9/17/2015”
http://biz.yahoo.com/e/150901/wres8-k.html
The companies announced they are still in talks and need an extension to finalize the deal.
9/17/2015
Nothing is announced on whether the agreement went through or not by either company
9/30/2015
“$WRES announces relocation of corporate headquarters to Denver, Colorado”
http://finance.yahoo.com/news/warren-resources-announces-relocation-corporate-211500370.html
This is interesting because $WRES decided to move their corporate offices to their existing regional office which is roughly 1 mile from $ESCR’s corporate offices
https://www.google.com/maps/dir/Escalera+Resources+Co,+1675+Broadway+Street+Suite+2200,+Denver,+CO+80202/1331+17th+St+%23720,+Denver,+CO+80202/@39.7462692,-104.998424,16z/data=!3m1!4b1!4m13!4m12!1m5!1m1!1s0x876c78d5d1f6697f:0xad0212c6b10010cf!2m2!1d-104.9877239!2d39.7427536!1m5!1m1!1s0x876c78db46b7838f:0x3862df8a783d7474!2m2!1d-104.9966174!2d39.7509221
10/6/2015
“$WRES presents at the IPAA OGIS San Francisco Conference”
http://finance.yahoo.com/news/warren-resources-present-ipaa-ogis-110000388.html
In the presentation deck on page 5, it indicates there still is potential for the sale. Whether it is with ESCR or not is not indicated
Deck is under “IPAA OGIS Presentation” http://phx.corporate-ir.net/phoenix.zhtml?c=182913&p=irol-IRHome
10/7/2015
“$ESCR voluntarily delists from the NSDQ and moves to the OTC”
http://finance.yahoo.com/news/escalera-resources-announces-voluntary-delisting-210000020.html
10/28/2015
“$WRES announces it will release Q3 earnings and a conference call Pre-Market on Monday 11/9/2015”
http://finance.yahoo.com/news/warren-resources-schedules-third-quarter-141500774.html
Summary:
$ESCR shareholders haven’t heard anything from their team yet and the PPS has taken a BIG plummet down to under $.05/share currently.
As of 6/30/2015 $ESCR had $97.7MM Total Assets versus $67.7MM Total Liabilities and 14,307,414 shares outstanding as of 7/31/15.
http://www.sec.gov/Archives/edgar/data/29834/000155837015001654/escr-20150630x10q.htm
This would imply a ~$2.10/share Book Value for the company and a ~$.2564/share Cash Value.
Yes I believe these numbers have gone down some as the companies revenues suck. However their asset/debt ratio is very nice and intriguing and with the position they are at now, trading under $.05/share, this is a big time target to be acquired by a larger more successful company (perhaps WRES or someone else).
$WRES is clearly doing much better than $ESCR and $ESCR does have assets that could possibly interest $WRES who could possibly operate them more effectively then the current $ESCR staff.
In my opinion, $ESCR chose to delist from the NSDQ because there is an acquisition play involved, whether it’s with $WRES or not. With the timeline of events above, it is in my opinion that it has a high chance of being with $WRES but this is just an assumption based on the events.
Trade at your own risk and do not use this as investment advice. All of these opinions and assumptions are my own and my own only.
$WRES & $ESCR possible merger
I’ve heard from several people that they think there could possibly be a merger between $WRES & $ESCR in the work.
I’ve been following these two companies for a while so I thought I would take a closer look at it and IMO, I think they could be right.
Here is a timeline of events which will be followed by my opinion on what could possibly be happening:
5/6/2015
“$ESCR receives delisting notification from NASDAQ and has until 8/27/2015 to regain compliance”
http://biz.yahoo.com/e/150506/escr8-k.html
6/16/2015
“Escalera Resources Announces $47 Million Purchase Agreement to Expand Atlantic Rim Holdings”
http://finance.yahoo.com/news/escalera-resources-announces-47-million-130000800.html
$ESCR announces it plans on acquiring $47MM worth of assets from $WRES by 9/1/2015
6/26/2015
“$WRES receives delisting notification from NASDAQ and has until 12/21/2015 to regain compliance”
http://biz.yahoo.com/e/150626/wres8-k.html
8/6/2015
“$ESCR enters into a Forbearance Agreement amendment with its credit facility”
http://biz.yahoo.com/e/150806/escr8-k.html
$ESCR is hurting for money
9/1/2015
“Companies extend deadline for purchase and sale agreement to 9/17/2015”
http://biz.yahoo.com/e/150901/wres8-k.html
The companies announced they are still in talks and need an extension to finalize the deal.
9/17/2015
Nothing is announced on whether the agreement went through or not by either company
9/30/2015
“$WRES announces relocation of corporate headquarters to Denver, Colorado”
http://finance.yahoo.com/news/warren-resources-announces-relocation-corporate-211500370.html
This is interesting because $WRES decided to move their corporate offices to their existing regional office which is roughly 1 mile from $ESCR’s corporate offices
https://www.google.com/maps/dir/Escalera+Resources+Co,+1675+Broadway+Street+Suite+2200,+Denver,+CO+80202/1331+17th+St+%23720,+Denver,+CO+80202/@39.7462692,-104.998424,16z/data=!3m1!4b1!4m13!4m12!1m5!1m1!1s0x876c78d5d1f6697f:0xad0212c6b10010cf!2m2!1d-104.9877239!2d39.7427536!1m5!1m1!1s0x876c78db46b7838f:0x3862df8a783d7474!2m2!1d-104.9966174!2d39.7509221
10/6/2015
“$WRES presents at the IPAA OGIS San Francisco Conference”
http://finance.yahoo.com/news/warren-resources-present-ipaa-ogis-110000388.html
In the presentation deck on page 5, it indicates there still is potential for the sale. Whether it is with ESCR or not is not indicated
Deck is under “IPAA OGIS Presentation” http://phx.corporate-ir.net/phoenix.zhtml?c=182913&p=irol-IRHome
10/7/2015
“$ESCR voluntarily delists from the NSDQ and moves to the OTC”
http://finance.yahoo.com/news/escalera-resources-announces-voluntary-delisting-210000020.html
10/28/2015
“$WRES announces it will release Q3 earnings and a conference call Pre-Market on Monday 11/9/2015”
http://finance.yahoo.com/news/warren-resources-schedules-third-quarter-141500774.html
Summary:
$ESCR shareholders haven’t heard anything from their team yet and the PPS has taken a BIG plummet down to under $.05/share currently.
As of 6/30/2015 $ESCR had $97.7MM Total Assets versus $67.7MM Total Liabilities and 14,307,414 shares outstanding as of 7/31/15.
http://www.sec.gov/Archives/edgar/data/29834/000155837015001654/escr-20150630x10q.htm
This would imply a ~$2.10/share Book Value for the company and a ~$.2564/share Cash Value.
Yes I believe these numbers have gone down some as the companies revenues suck. However their asset/debt ratio is very nice and intriguing and with the position they are at now, trading under $.05/share, this is a big time target to be acquired by a larger more successful company (perhaps WRES or someone else).
$WRES is clearly doing much better than $ESCR and $ESCR does have assets that could possibly interest $WRES who could possibly operate them more effectively then the current $ESCR staff.
In my opinion, $ESCR chose to delist from the NSDQ because there is an acquisition play involved, whether it’s with $WRES or not. With the timeline of events above, it is in my opinion that it has a high chance of being with $WRES but this is just an assumption based on the events.
Trade at your own risk and do not use this as investment advice. All of these opinions and assumptions are my own and my own only.
I think they have a good chance. Looking at the standard, they meet the requirements on everything except for the minimum bid price.
https://listingcenter.nasdaq.com/assets/continuedguide.pdf
I think the chances are high that they R/S, but for only maybe a 5-1 or 10-1 split, nothing bigger.
IMO I think there is a merger/acquisition talk going on right now between $WRES and $ESCR that could be announced Pre-Market Monday.
These are all my opinions based on the facts I was able to put together and can be seen as assumptions, so please do not take this as advice on whether to buy or sell a certain security. Please trade at your own risk.
Here is a timeline of events which will be followed by my opinion on what could possibly be happening:
5/6/2015
“$ESCR receives delisting notification from NASDAQ and has until 8/27/2015 to regain compliance”
http://biz.yahoo.com/e/150506/escr8-k.html
6/16/2015
“Escalera Resources Announces $47 Million Purchase Agreement to Expand Atlantic Rim Holdings”
http://finance.yahoo.com/news/escalera-resources-announces-47-million-130000800.html
$ESCR announces it plans on acquiring $47MM worth of assets from $WRES by 9/1/2015
6/26/2015
“$WRES receives delisting notification from NASDAQ and has until 12/21/2015 to regain compliance”
http://biz.yahoo.com/e/150626/wres8-k.html
8/6/2015
“$ESCR enters into a Forbearance Agreement amendment with its credit facility”
http://biz.yahoo.com/e/150806/escr8-k.html
$ESCR is hurting for money
9/1/2015
“Companies extend deadline for purchase and sale agreement to 9/17/2015”
http://biz.yahoo.com/e/150901/wres8-k.html
The companies announced they are still in talks and need an extension to finalize the deal.
9/17/2015
Nothing is announced on whether the agreement went through or not by either company
9/30/2015
“$WRES announces relocation of corporate headquarters to Denver, Colorado”
http://finance.yahoo.com/news/warren-resources-announces-relocation-corporate-211500370.html
This is interesting because $WRES decided to move their corporate offices to their existing regional office which is roughly 1 mile from $ESCR’s corporate offices
https://www.google.com/maps/dir/Escalera+Resources+Co,+1675+Broadway+Street+Suite+2200,+Denver,+CO+80202/1331+17th+St+%23720,+Denver,+CO+80202/@39.7462692,-104.998424,16z/data=!3m1!4b1!4m13!4m12!1m5!1m1!1s0x876c78d5d1f6697f:0xad0212c6b10010cf!2m2!1d-104.9877239!2d39.7427536!1m5!1m1!1s0x876c78db46b7838f:0x3862df8a783d7474!2m2!1d-104.9966174!2d39.7509221
10/6/2015
“$WRES presents at the IPAA OGIS San Francisco Conference”
http://finance.yahoo.com/news/warren-resources-present-ipaa-ogis-110000388.html
In the presentation deck on page 5, it indicates there still is potential for the sale. Whether it is with ESCR or not is not indicated
Deck is under “IPAA OGIS Presentation” http://phx.corporate-ir.net/phoenix.zhtml?c=182913&p=irol-IRHome
10/7/2015
“$ESCR voluntarily delists from the NSDQ and moves to the OTC”
http://finance.yahoo.com/news/escalera-resources-announces-voluntary-delisting-210000020.html
10/28/2015
“$WRES announces it will release Q3 earnings and a conference call Pre-Market on Monday 11/9/2015”
http://finance.yahoo.com/news/warren-resources-schedules-third-quarter-141500774.html
Summary:
$ESCR shareholders haven’t heard anything from their team yet and the PPS has taken a BIG plummet down to under $.05/share currently.
As of 6/30/2015 $ESCR had $97.7MM Total Assets versus $67.7MM Total Liabilities and 14,307,414 shares outstanding as of 7/31/15.
http://www.sec.gov/Archives/edgar/data/29834/000155837015001654/escr-20150630x10q.htm
This would imply a ~$2.10/share Book Value for the company and a ~$.2564/share Cash Value.
Yes I believe these numbers have gone down some as the companies revenues suck. However their asset/debt ratio is very nice and intriguing and with the position they are at now, trading under $.05/share, this is a big time target to be acquired by a larger more successful company (perhaps WRES or someone else).
$WRES is clearly doing much better than $ESCR and $ESCR does have assets that could possibly interest $WRES who could possibly operate them more effectively then the current $ESCR staff.
In my opinion, $ESCR chose to delist from the NSDQ because there is an acquisition play involved, whether it’s with $WRES or not. With the timeline of events above, it is in my opinion that it has a high chance of being with $WRES but this is just an assumption based on the events.
Trade at your own risk and do not use this as investment advice. All of these opinions and assumptions are my own and my own only.
IMO I think there is a merger/acquisition talk going on right now between $WRES and $ESCR that could be announced Pre-Market Monday.
These are all my opinions based on the facts I was able to put together and can be seen as assumptions, so please do not take this as advice on whether to buy or sell a certain security. Please trade at your own risk.
Here is a timeline of events which will be followed by my opinion on what could possibly be happening:
5/6/2015
“$ESCR receives delisting notification from NASDAQ and has until 8/27/2015 to regain compliance”
http://biz.yahoo.com/e/150506/escr8-k.html
6/16/2015
“Escalera Resources Announces $47 Million Purchase Agreement to Expand Atlantic Rim Holdings”
http://finance.yahoo.com/news/escalera-resources-announces-47-million-130000800.html
$ESCR announces it plans on acquiring $47MM worth of assets from $WRES by 9/1/2015
6/26/2015
“$WRES receives delisting notification from NASDAQ and has until 12/21/2015 to regain compliance”
http://biz.yahoo.com/e/150626/wres8-k.html
8/6/2015
“$ESCR enters into a Forbearance Agreement amendment with its credit facility”
http://biz.yahoo.com/e/150806/escr8-k.html
$ESCR is hurting for money
9/1/2015
“Companies extend deadline for purchase and sale agreement to 9/17/2015”
http://biz.yahoo.com/e/150901/wres8-k.html
The companies announced they are still in talks and need an extension to finalize the deal.
9/17/2015
Nothing is announced on whether the agreement went through or not by either company
9/30/2015
“$WRES announces relocation of corporate headquarters to Denver, Colorado”
http://finance.yahoo.com/news/warren-resources-announces-relocation-corporate-211500370.html
This is interesting because $WRES decided to move their corporate offices to their existing regional office which is roughly 1 mile from $ESCR’s corporate offices
https://www.google.com/maps/dir/Escalera+Resources+Co,+1675+Broadway+Street+Suite+2200,+Denver,+CO+80202/1331+17th+St+%23720,+Denver,+CO+80202/@39.7462692,-104.998424,16z/data=!3m1!4b1!4m13!4m12!1m5!1m1!1s0x876c78d5d1f6697f:0xad0212c6b10010cf!2m2!1d-104.9877239!2d39.7427536!1m5!1m1!1s0x876c78db46b7838f:0x3862df8a783d7474!2m2!1d-104.9966174!2d39.7509221
10/6/2015
“$WRES presents at the IPAA OGIS San Francisco Conference”
http://finance.yahoo.com/news/warren-resources-present-ipaa-ogis-110000388.html
In the presentation deck on page 5, it indicates there still is potential for the sale. Whether it is with ESCR or not is not indicated
Deck is under “IPAA OGIS Presentation” http://phx.corporate-ir.net/phoenix.zhtml?c=182913&p=irol-IRHome
10/7/2015
“$ESCR voluntarily delists from the NSDQ and moves to the OTC”
http://finance.yahoo.com/news/escalera-resources-announces-voluntary-delisting-210000020.html
10/28/2015
“$WRES announces it will release Q3 earnings and a conference call Pre-Market on Monday 11/9/2015”
http://finance.yahoo.com/news/warren-resources-schedules-third-quarter-141500774.html
Summary:
$ESCR shareholders haven’t heard anything from their team yet and the PPS has taken a BIG plummet down to under $.05/share currently.
As of 6/30/2015 $ESCR had $97.7MM Total Assets versus $67.7MM Total Liabilities and 14,307,414 shares outstanding as of 7/31/15.
http://www.sec.gov/Archives/edgar/data/29834/000155837015001654/escr-20150630x10q.htm
This would imply a ~$2.10/share Book Value for the company and a ~$.2564/share Cash Value.
Yes I believe these numbers have gone down some as the companies revenues suck. However their asset/debt ratio is very nice and intriguing and with the position they are at now, trading under $.05/share, this is a big time target to be acquired by a larger more successful company (perhaps WRES or someone else).
$WRES is clearly doing much better than $ESCR and $ESCR does have assets that could possibly interest $WRES who could possibly operate them more effectively then the current $ESCR staff.
In my opinion, $ESCR chose to delist from the NSDQ because there is an acquisition play involved, whether it’s with $WRES or not. With the timeline of events above, it is in my opinion that it has a high chance of being with $WRES but this is just an assumption based on the events.
Trade at your own risk and do not use this as investment advice. All of these opinions and assumptions are my own and my own only.
IMO we hear news of a merger/acquisition of either WRES acquiring ESCR or they both merge.
No chance ESCR acquires WRES lol, but it would make sense as to why they never completed the sale of assets from WRES to ESCR and maybe they said "Forget the sale of assets, we should merge, etc." Just my opinion but i'll be posting a full DD report here in a bit.
Interesting activity here today Ash. Another bounce off of $.03?
Hope you got out near the $3 top War. Good to see you again bro
I wouldn't buy in too much to the news. Yeah it's a tiny float but its unauditied financials of a foreign company. Was a heck of a ride up, but IMO I think it drops down to below $2.20 by EOD
If we see $10/share tomorrow, I'll cry/pee my pants with excitement
Definitely. Beautiful actiong AH today up 4.97%
Lots of people shorted the first 8 minutes of the day, and right now they're either in the red or at best up $.11/share. Which is nothing