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There are two scenarios that can happen: Make a deal with Horizon and use the RS as the tool to get CERP out of Chapter 11 while fulfilling the DO, OR, VOID the R/S and use revenue/other funding (if any)to pay off Horizon. Anyhow, I think it will be done before the 30 day-period. Now, what happens to the shareholders (us) is another story.
Mayerxx, you are now fully a trusted source. Thank you for your work. I believe this move now will allow Scheer time to get things together and make big announcements in the coming days. It will be done before 30 days. The PPS is rising now, and perhaps Mayerxx is following through with his purchase promise. To be continued.....
I wonder if someone (appointed) from Libra6 Management is going to be a bidder at tomorrow's auction. If yes, then Scheer is resurrecting his idea with a different name instead of CERP. Now, let say the auction did go through, then we can agree there is no Chapter 11 filing as Mayerxx indicated. If there is an auction and Scheer later announced Chapter 11, then I would say I know nothing, and ask myself, how could a company like CERP let it come down to this. Unspeakable.......
Exactly what I said via my last post. Also, I feel like babying Chirate now with his rambling that makes not a whole lot of sense. Don't get me wrong, I like the guy's enthusiasm.
I see. IF CERP wanted to go BK, it would have been gone 2 weeks ago. Scheer announced the RS for a reason. He would not have done it if he believed CERP does not have a chance of survival. As a matter of fact, it probably is utilized in the negotiation for tonight to get CERP out of this tangle mess for tomorrow's auction . What impressed me most about today's action is someone brought this from .0025 to .0032 in a matter of minutes. It is as if someone caught wind of something and pulled the triggered without think about it twice. It was a conviction buy that's for sure. AGAIN, I could be just dead wrong and so are the buyers today.
No, this is a private matter between lenders and CERP. It has nothing to do with the SEC. They can't intervene.
Still don't understand after the translation. Yes, the battle is lost.
Hi General, I'll follow you if CERP comes back from the grave. I myself am a train killer an expert shooter in the lovely CORPs. Good to see you make your debut. We leave no one behind. SEMPER FI!
Holy SHYTE, someone is buying a driving this back up. Someone knows something. Mayerxx, are you taking that leap of faith?
Mayerxx has disappeared from this mb. I am curious as to when he re-appears. Yes, the injunction may be denied, but what I am interested to hear what Scheer has to say during/after that announcement. Now, if he say's nothing, then it could be positive, b/c the auction is tomorrow. He might come out with another release that says the default has been cured the next morning, and the auction is off at the last minute. If Scheer said we have no other options, then dig that grave really deep, b/c the funeral is on. JMO.
Despite our public dissertations and discussion, sometimes, the end is quite simple. It's like dying. When someone dies, they accept the fact they are dying, and that last gasp is quite easy and relaxed. When fought, the dying process is that much harder. That being said, I know CERP will not go away that easily. I was thinking the PRECEDENT case in H/M will convince the judge, but if Mayerxx was correct, then that's why we call it whim.
What's privileged about it that got deleted. I know this board is monitored, but unless you are giving links and SPAM, you should not have it deleted. Put it in an undeletable format.
OK. Let's talk about the auction. Who can bid on the auction? Can Scheer have someone not not working for Cerp bid on it? Let say if he could and did, would that resolve the default issue once and for all? Lat one, who would want CERP's asset, a competitor, so just to put CERP out of business for good?
OK. someone's credibility is on the line. Sky, Chirate, Ahj, I am with you. See you at the bottom if Mayerxx is correct. I still trust his call and source, but I will play the contrarian and hold.
Mayerxx, I don't doubt you nor your source, but this looks like a contrarian play. If people based their action on your alert, then I can see a few mil shares unloaded, but someone is also buying too as well? I think this guy put a limit buy and forgot to take it off. The PPS is actually rising. F me.....
SEll or not?
Mayerxx, my finger is on the buy button today. If I get a nod from you a few minutes in advance re positive news, that will be awesome. Thank your attorney for me if it goes either way.
Relax, Scheer has got as good case. After all, he already ha PRECEDENT against H/M in another case. Unless Scheer does something technically and procedurally long, the AUCTION will be postpone. He know that it will happen if he waited to file the lawsuit this late. My ongoing concern is how he will handle CERP after the postponement. What type of PR is he going to release. Also, when will the case against the vulture will happen. After all, it's money CERP needs to move forward. Where will Scheer get money or are investors already waiting on the sideline to jump in. In the lawsuit, he did mentioned a few "private placements" that were willing to pay off the debt or already did at some point. Are they coming back to do the same. Chirate made cryptic comments regarding this too as well. Let see.....
Gamesmanship and brinksmanship. It forces the judge now to postpone the auction in good faith because it requires time to investigate. If the court in LA County is pro-biz, CERP has a strong case. Filing the lawsuit earlier would allow enough time for due diligence and lessen the chance of CERp getting an injunction. JMO.
PSC, why would he not announce the RS? Would it be more convenient not to do so and proceed with the lawsuit since CERP is going BK anyways. If that's the case, he would not care a bit. Why waste the ffort and time? My GUESS is the RS is one of the elements/variables that will help with and or justify the the lawsuit or the next financing/funding deal to occur. As I said before, everything FS has done so far is far more calculated than we give him credit for. I agree with 12YP, that the judge has no choice but to postpone the auction in good faith. FS will prove he already has precedent against H/M in another case, and the judge will side with FS pending further investigation. I also think if this happens, FS will announce news regarding contracts and revenue to bolster the PPS. Again, I am just guessing.
Mayerxx, Thanks for the assurance. Unlike you, I don't have an attorney on retainer or who is willing to do it pro bono. But if CERP gets to $1 pre RS, my fortune will have turned and I surely can afford one. I am going down with the Titanic if that's the case. I believe in the product and saving the environment too much. If and when we get over this hump and CERP hits that milestone, I like to come and meet you and a few others on this board that make investing in this type of stock less lonely and scary. As you can see from my comments, I am not a pumper by any means, but quite objective in my thoughts with a strong sense of instinct and intuition. Thanks!
OK. I don't think the $2.8 mil is the reason for the default. I am repeating most of what I wrote last night. FS could find funding to do this, but he knows if he does, the vultures will continue to hurt the company as alleged in the lawsuit and enriched themselves unjustifiably. He intentionally let Horizon announced the default, terminate the IR agreement and alleged them of breach, let Horizon announce the auction, and file the lawsuit to include all vultures of engaging to hurt the company when he already received the nod from the court on a separate H/M lawsuit. While not announcing any revenue/contract over the past 3 months does not mean there is nothing going on. As a matter fact, the last 120 days may be the bright spot in CERP's history as a company, but instead of showing his cards, he decided to play poker with the vultures and get rid of them once and for all. I think there will be an out of court settlement. Also, any interested new party will have to look at the toxic funding and decline to invest in CERP until the toxic financing is resolved to its satisfaction. To the investor, the PPS is a big deal, but to the legal case, it will demonstrate how the vultures action has driven the PPS down so much over the past 12 months. Justification! Again, I don't think the demise of the company will come down to just $2.8 mil debt default especially when CERP already spend 50X of that over the course of its existence. Chirate may be really cryptic, but he does have a point. It may be wishful thinking, but the sentiment is CERP will not go away any time soon. Even if CERP survives, I could only guess of what its next chapter would be. I surmise that it will be better written than the last, but it has to survive first. Sadly, it has to come down to the wire, and we may just have less than 48 hours left.
I would be a millionaire if I know that info/answer. Again, one denial of motion against CERP and it is toast.
You have such a short term memory. Note, H/M tried to have the case against it dismissed in a separate case a couple months back, but that motion was denied, and CERP's motion request to have a trial was approved. Now, FS is filing a case against all the vultures (H/M, Horizon, IR)in LA county. So, the precedent is, the case against H/M was approved, so, the next court to consider the case involving H/M et al is going to be more likely/positve/sympathetic for CERP. Clear?
Guys, this is all a calculated move by FS. He is actually playing Russian roullete with some help behind the scene. Notice, he waited for the announcement of default with Horizon and then followed up with the termination of agreement with IR. A few days later, it is announced that Horizon is exercising its rights to auction the assets. In short, FS was waiting for a legal trigger to trigger CERp's own lawsuit against the toxic lenders blaming/alleging their unwarranted action being detriment to CERP's operation as grounds to postpone/cancel the auction, and then perhaps, buy time to get funding, contracts announcements, and revenue to cure the default. I GURANTEE you he has positive news to put out, but he did not want to show his hands because of these vultures. The RS did not happen all of sudden. This was the ACE in the deck of card FS need to resolve this sort of issue. He could have splitted the PPS a long time ago, but he knows, the vultures will eat it a part. Only now, this lawsuit action will take care of the vulture, the default, and adding to the positives (he yet to announce), CERP will grow once it rids itself of the baggages. Let it be known that CERP knows what's coming all along. I am sure FS wanted to be in a more ideal situation, but as his hands are tied, he will have to use the only weapon (lawsuits) to extricate himself, CERP, and perhaps us shareholders from this mess so we can get back to the business of growing the company. Note, this is my only plausible speculation. If the judge got into an argument with his wife/husband and had to sleep on the couch that night and had to deal with the CERPlawsuit the next day, he might not be in the mood. In short, we are under the MERCY and GRACE of GOD and the court. One denial of motion and CEP is poofed, gone. JMHO.
If another court sided with CERP in its lawsuit against M/H, then the court might use that as a precedent and do the same, but it is very, very risky. Just one denial and CERP is through IMO.
We all can dwell on the past and say that FS promised this and promised that and failed to execute. I personally don't think that I would do that if I could for so long. CERP used to be on the the NASDAQ, and to fall like this over the past 5 years is very painful, and that's even painful for FS himself. The 1:50 SP that is going to happen will be much different from the SP of 1:40 from a few years ago. This time, we have a catalyst in terms of market transition, adoption, and legislation that would help the business succeed. Yes, the loan default forced the issue, but I believe there are many other developments/contracts/revenue that has yet to be announced, and will help the PPS stand and grow. This time, FS might announce a major collaboration with a major customer/partner that would have long-term growth potential for CERP. I've worked for a few companies that actually took an interest in the company that supply them with a vital/critical product which makes the end product that they sell in the market. MamaCangura, Belleli, Solo cup, India, France, Italy, or any other institution would want CERP to survive and be a viable long-term partner in this space. In short, we should look forward while using the past as a learned lesson, and I am hoping Fred Scheer is doing that this time around, or else, we will fail miserably, again. Just my thoughts.
Very plausible, but is he allowed to bid, or can he have someone else do it for him?
Good questions. Those will be answered within 24 hours. You won't miss a thing. Don't get me wrong,I am with you and skyline. CERP will live. Vive CERP!!!
Scheer is waiting till the last minute for all the weak hand to be shaken out before he makes an announcement. He knows MM is playing games with CERP for a long time now.
Skyline, where do learn how to write like that. You remind me of me. Anyhow, you made a good summary of all the key points. If Mr. Scheer keeps at least one of his announcements, we would not be in such a bad situation. Regardless, it all comes down to this legal action and auction. If he makes no announcement in the next 24-48 hours, CERP is gone just like all his visions. I can tell you are a true believer, but there comes a point when you have to tell yourself that the person you trust to carry your dreams forward had failed you.
I read the news at Avauncer and don't know if the news is true or not. At first, it was $6 m IR funding, then the termination of contract came out via 8-K that it was $5 m, and now/today, it is announced $5 m was agreed and signed. I don't know what is what anymore. I am sure you can help explain a little further.