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not really a target for an exit but how high the price will possibly go, anyways ride the wave, ride the wave!
probably, but wondering what the target is,
yep, I missed that one, my initial VTGDF buy in was .0025, difficult to hit them every time.
totally agree, currently thinking between .008-.01 would be good for TVOG. Also looking forward to some SEC filings.
Thanks for the PM, TVOG looks interesting has a good following.
Probably start trading it when I can get a buy in, Ride the wave!
Yes, that has been the way it has been dealing with VTGDF, the only way to follow them is through VDI's SEC filings.
If they consider little to no value:
$62.6M in equity value million/311Moutstanding shares =$.2 or $17,278,000(cash)/311M outstanding shares = $.055 or $79,878,000/311M outstanding shares = $.25,
Values sited from:
https://www.sec.gov/Archives/edgar/data/1380565/000119312517361026/d494794d424b3.htm
Possibly a few reasons, trying to wait until oil is back at a descent price or still in negotiations with the parent company over something.
But I think next Feb. 2018 they will put it to rest and buy back the share holders, right now I think they are trying to lower the stock price by taking over the bid to drive it down, so when they do a buy back they do not have to pay out that much money. Right now this scenario makes the most sense considering the habitual sell off that has occurred over time, every day around 9am for about 2 years there has been a sell.
Not sure but that is literally a million dollar question! Will not know until they get Liquidation finished and they are taking their sweet time.
I also have never heard any information about creditors, the only educated guess I would make is, if VDI is talking about creditors making it difficult for them, it would probably be the $17M that they intend to pay VDC but are still negotiating that total with VDC, because VDC wants more most likely.
The majority of VDC is now made up of the following companies, by the way these companies are billion dollar entities:
F3 Capital 32.9%
FMR LLC 14.0%
Anchorage Capital Group, L.L.C. 9.3%
The remaining 43.8% of the company is unclear.
source: https://www.sec.gov/Archives/edgar/data/1380565/000119312516443726/d114136dt3a.htm
Just wondering who are the creditors your talking about?
LOL and a "Ha,Ha,Ha", somebody didn't read that the $62.5M in equity assets in VDI are guaranteed and after 2020 will pay interest on those assets. BTW another $17M in receivables not yet received. But thanks for the laugh.
Anyways keepem coming, I have SEC filings to back me up.
Actually due to the restructuring agreement, VTGDF signed over everything, their equity assets for a note to later get paid back to them and all liabilities to the new parent company VDI.
Such things like convertible bonds were put into shares into VTGDF.
I sincerely believe there are no creditors to speak of and if there are, that would mean there was improper filings of SEC reports and possible fraud, because if you review the liabilities pre BK or post BK you will find that the amount of liabilities do not change.
Hope that answered your question.
FYI Vantage Drilling Company still has institutional investors:
http://investors.morningstar.com/ownership/shareholders-major.html?t=VTGDF®ion=usa&culture=en-US&ownerCountry=USA
VTGDF have no creditors, during the restructuring process they were signed over to the new parent company VDI. The only debt VDC/VTGDF has right now is its common shares, ready for that dividend!
Well, I have been covering this company for about 2 years. So, if you have any questions, I will give you a straight and accurate answer if I have one.
That is the impression I am getting, except I think by law they will have to give some of it away.
The interesting thing about VTGDF is even if they go through Liquidation they will never be completely liquidated, because it is just a restructuring. I have emailed KPMG and basically they do not recognize the assets that VTGDF have right now, which basically means they do not want anyone else to know about them either, which is fraud and if you do a search on KPMG you will soon find out that they have had some questionable business practices in the past that ended up in court.
The judge that presided over the Liquidation issued a "Strike Off" to VTGDF which means that after they are stricken from the registry in the Cayman Islands they can and will re-register.
This company is like no other on the market today with millions in assets and at a price that is dirt cheap and a company that is trying to wave off investors from getting a piece of those assets.
Yes, I doubled my position this year at the bottom this year and will probably wait until the next break out to make a trade, typically breaks up around .025 to .03, will probably be a market correction early next year.
yes, more than a year. how about you, just looking?
Forgot to mention the Market Maker, the reason it is suppressing price is not really clear. Is it a disgruntled trader just trying to run the price to 0, the company trying to decrease price so when they do a stock buyback the price will be cheaper or just an MM trying to make some more money. Not sure why but it is annoying.
For all practical sense, Seeking Alpha does not really report on VTGDF they only report on Vantage Drilling International which is in a rebuilding phase and hasn't reached its potential yet due to Oil price recovery.
So, yeah basically Seeking Alpha's readership is not really a good source for VTGDF news, just got to go through those long SEC filings to find any useful information.
All reporting done by Seeking Alpha is typically written about Vantage Drilling International. The information in those reports do not state any concrete facts about VTGDF or Vantage Drilling Company.
The only way to find the facts about VTGDF is to read the SEC 10Qs for Vantage Drilling Company. They show the assets that VTGDF have. Everything else is just feelings or gut feelings.
The facts are VTGDF have $79M in guaranteed assets, in those assets there is 13.1% of ownership of Vantage Drilling International, but the sales of Vantage Drilling International do not effect the 13.1% that is guaranteed $62M in equity assets. And the rest of the capital is $17M in cash. The kicker is the equity assets in the company will be earning interest after 2020.
I hope that paints a clearer picture for you, there is a lot of skepticism and traders that lost money and have an axe to grind. BTW there is a Market Maker selling off at the beginning of each trading session trying to suppress the price.
Nothing but equity assets! And 13.1% of the employees in Vantage Drilling International!
The position is good right now and getting better one contract at a time!
The BK was a restructuring and now it is still a building phase and they keep on signing those contracts with more revenue pouring in.
The interesting thing is VTGDF has $79M in guaranteed assets and $17M of that is in cash. To find concrete details check out: https://www.sec.gov/Archives/edgar/data/1465872/000156459017022334/vdi-10q_20170930.htm … and do a search for VDC.
The only reason this company is trading at this price right now is because they did a restructuring in late 2015 due to oil prices.
1.6M in volume today, get ready, were breaking out of hear!
time to buy some more! thank you MM for making it cheaper!
More revenue pouring in!
Vantage Drilling International (“Vantage”), announces today that it has reached an agreement with a subsidiary of ADES International Holding Ltd. (LON:ADES), the London-listed offshore and onshore provider of oil and gas drilling and production services in the Middle East and Africa, to form a joint venture that will provide deepwater drilling services offshore of Egypt.
http://globenewswire.com/news-release/2017/11/15/1193669/0/en/Vantage-Drilling-International-Reaches-Agreement-with-ADES-International-Holdings-Ltd-to-Provide-Deepwater-Drilling-Services-in-Egypt.html
Interesting trading trend, the early sell off cutting down the price as usual, but a new player bringing up the price at the end of the trading day! Looks like two market makers duking it out, one wants to drag down the price and one wants to bring it up to where it should be, which is probably around 5 cents.
920,673 shares traded today! looking like a potential break out!
Oil up above $57, getting higher little by little, Opec say $70 is a fair price!
VDC has a guaranteed $62M in assets tied up in VDI and $17M in cash yet to be paid to them from VDI.
VDI's loss or profit does not effect VDC's assets.
https://www.sec.gov/Archives/edgar/data/1465872/000156459017022334/vdi-10q_20170930.htm
The following table summarizes the balances payable to VDC included in the Company's Consolidated Balance Sheet as of the periods indicated:
September 30, 2017 December 31, 2016 (unaudited, in thousands)
Accounts payable to related parties, net
$17,278 $17,278
Time to buy some more!
Oil up to $55.6, steady rise!
your welcome!
Yes, this whole BK/Liquidation was used to restructure debt and decrease amount they were paying on a monthly basis.
In a nut shell, VDC was the parent company, but signed all assets and debt over to the new Parent company VDI. However VDI came out of BK and immediately paid back all assets back to VDC, but VDC is in Liquidation and did not claim those assets until this year.
Liquidation is similar to BK, in the fact BK CH11 allows for restructuring so does a Strike Off.
In a CI Liquidation a Strike Off can be used for restructuring, similar to a CH11 BK.