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BK court and the issue related to DTC are TOTALLY different. The DTC issue is primarily linked to the SEC investigation, regarding the BK proceedings, well that is something no one saw coming or all of us wouldn't have put in our hard earned money into this crap.
However the ESHC needs to figure out how to remove the DTC hold.
stockholder led change of BOD so far has done nothing to fix this turkey from dropping like a rock.
For the past 3 weeks, the ESHC has been saying that they are working with DTC to get this cleared and its a simple process and so far almost all trading sites have stopped trading this except Fidelity and maybe Ameritrade?
Dealing with DTC is not as easy as some people make it sound. Based on what I have heard and read on the Web related to similar sitiuations with other companies, its been an adventure to have DTC remove the trading hold. To top it off CPRKQ has been in the news with the scam/SEC story for its previous owners.
All of this is simply going to make it a lot harder for the trade hold to come off.
Sounds like us shareholders.....
And what motivation can I have?
Hmmmm...Let's see..... I am trying to drive the stock price down so I can bunch up with venture capitalists and buy this turkey really cheap?! Afterall, let's not forget the $$$$$Millions of Dollars worth of copper, gold and other metals this mine has.
Wow! sounds like the deal of the century.
Based on your statement:
"When all the house cleaning is done the company may survive...but I'm 99% sure the shares we hold now will be either canceled altogether or R/S'ed into oblivion."
>>>> This usually is ALWAYS what happens in BKP cases, expecting ANYTHING else is foolish.
Nicely put...
Thank you.
That was a fair enough answer and thanks for providing explanations from your side.
I cannot change your opinion on what you 'assume' and you have every right to do so however as you stated in your post; me being the first one with a 'negative' post expected retaliation.
However, I totally agree with what you state that the final legal costs are not something which one can calculate at the begining but once again, for a company in Chapter 11, even an optional donation request gets me thinking - what is the ROI on this whole sitiuation and whether I will see anything of my original capital invested in this firm (which is a lot) and what the future holds for me and other shareholders.
Just my 2 cents...thinking out loud.
Fundraising?
So, my question is why are we throwing good money towards bad money. This stock is already down to .0021 which is strange considering the management change.
Now we are being asked to 'donate' money towards legal fees, etc....so didn't the EHC take this into account before the whole process started? How come now the money available exceeds the expenses?
Can the EHC provide financial information on costs incurred for legal, other obligations justifying the donation request?
I am pretty sure I will get slammed by Hard-Core CPRKQ loyalists for my audacity of asking these questions but can't help it.
As of 10:20AM, I cannot see a single trade for CPRKQ. 0 volume!
Sorry, should have been more specific - I wanted you to copy and paste the 'text' of the article because I assumed you had access to it.
Oh well...
Can you copy and paste the article on this board? It seems you need to be a paid subscriber in order to access it.
A week back Schwab told me that they would no longer trade CPRKQ, I moved all my stocks to Fidelity.
SATELLITE, your post is along the same lines as my concerns/statements as I posted under #73712.
I think it would be great if the ESHC could post current site evaluations, metalurgical surveys and/or any insights into potential buyers/mergers or client-agreements which in the pipeline.
At the same time, I do realize that the company is under chapter 11 and may not be able to disclose a lot but one way or the other an official statement, saying the same from the ESHC would help.
My 2 cents.......
Just to clarify:
"I don't think the premise "none of these companies have come out to buy CPRK therefore the company is worthless" really makes sense"
>>>> I never stated that since the other companies have not come out to buy CPRK, therefor CPRK is worthless. I am definately curious as to WHY other companies have not showed an interest however your explanation in the same post does indicate the reason.
Thanks
Thanks for the response. Again, that makes sense.
Sorry, I am new here and I guess I have been panicking for the last 5 years...
Your reply does not help me at all.
Regarding your statement that I espouse negativity; you seem to be from the same group of people who attack with guns blazing, anyone posting to this board questioning CPRKQ's status.
I own 586k shares of CPRK and over the past five years have seen my initial capital investment dwindle down by more than 19k. Regarding DD, oh yes!...I did enough of that once I plunked my hard earned money on this, a lot good it did me!
I am just another investor who has put in money on the basis of DD which again was based on the limited information available and have ended up losing money. Its only fair that I ask questions - this is DD.
Regarding your statement:
"As for the assay surveys, studies and reports, once again, you are pissing in the wind, the ESHC have on numerous occasions stated quite clearly that they have and continue to perform those studies that are up to the most stringent mineral mining standards, these remain the property of the company and the ESHC, there would be no point to carry out the studies at significant expense if there were not any reason to do so"
>>>>>>>> I believe in facts, you say the ESHC has done all of these on numerous occasions, where are they? Can any one from the ESHC post to this board those evaluations?
Your other statement:
"$1,000,000.00 (zeros intended) of CuCon were shipped in the short time the mill was in production..."
>>>>>>>> Again, regardless of whatever was shipped, the company is in chapter 11 so it doesn't mean anything.
If you really want to help, post something substantial with facts. like what is plan to setup infrastructure, actual assay survey with numbers, etc. Hard core belief in something will not really help if you can't back it up.
Thanks for the reply, it makes Sense.
However this is a scary scenario, I mean if there is no proper infrastructure, how does the company plan to create one? Extraction and refining are major operations and if its going to be difficult to do both then there is nothing to sell which means $0 revenues, ESHC is pushing for removal of the current board but are there any plans in the pipeline which indicate how the new management/company plans to extract--> refine--> sell the material?
Also, has there been any metallurgical surveys done recently to ascertain the quantity of ore present? The last I heard was years back the 'hatch report' was written up which was done by Credit Suisse but very limited information is available about the same.
Reality Check...
Re: #73699
Forgot to add to my original posting...
The following link shows the Copper mining/refining companies across the world, you can choose US to see the companies in this country and it brings up 8 major companies and there are a couple hundred if you choose 'all countries:
http://www.miningnerds.com/copper-mining-report-all-countries
So, again the question is if there really is all that copper, gold, etc at CPRK's mines, why don't any of these other companies swoop in to pick up CPRK at a low price and begin mining?
Reality Check....
So, I want some feedback from everyone on a 'hypothetical' scenario:
Assuming everything goes fine, the company gets out of bankruptcy, etc, etc, is there a buyer somewhere who is willing to buy/take over the mining operations? Can ESHC comment on this??
And in case things go fine in the future, what kind of a hypothetical price can we see for the shares; there are approx. 5 billion shares outstanding and in case there comes a buyer, they will reverse split this one way or the other. Is there anyway we shareholders will even get back what we paid for our shares??
Any feedback is welcome, just want to get everyone's opinions.