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Oh so now you do not understand the case, after shouting out so many of your "opinions" ? Is this the part of the movie where the doctor has a "lawyer" born today on IHub ?
You need to reread my post. If the Court agrees, I'm saying this would be good news for small holders in retaining a portion of the $200M equity, resulting in accumulation of existing shares. As I have requested from you in many of my posts, why are you accumulating shares while telling others to sell..... why are you here ?
"Vulture capitalists" & "chaos will reign".....haha....you need to stop watching so many movies. No way I see a BK Judge justify giving away $200M of shareholder equity with the agreement of Meruelo/Maddux.
You also imply as if the exclusive period will end soon, but in reality the exclusive period has not even started since the BK Judge has not yet approved a proposal.
You need to further explain the link....is this your boss or are you working for some other creditors ? If legit, what are the descriptions of the 3-4 properties & the terms for obtaining them ?
Again you have not answered my posts, but however thanks for the links to your US Supreme Court comment. If correct, this appears to be a good reason to accumulate existing equity (thank you). Maybe we will not have to contribute the additional $50k after all & other small existing equity holders will see this as a positive to accumulate.
However I did notice this part with respect to the BOA case, so I guess time will tell:
I'm starting to believe you can not read....your "opinions" have no merit & you have not proved a thing.
However by your statements below, I'm now starting to believe you may be related to the creditors by pumping up their lawyers:
May want to look at MMPIQ from developments recently brought to the board (see link below). Their recent filings indicate over $200M shareholder equity & with approx 88.1M shares this equates to over $2.00/share. With the current plan, they are admitting equity after bk & the majority of the stock is owned by the principals Meruelo/Maddux. This current plan is not approved yet & I believe will be reviewed during the court date on 3/19/10. Meruelo/Maddux have large holdings & name recognition in the Los Angles Area, which many eyes could be on this case to submit enhanced proposals after the end of the exclusive period.
Even if someone did not want to put in $50k for the current plan (not approved yet), I believe the current available share qty may be getting squeezed for obtaining a piece of the approx $200M equity (see chart link at bottom). This could be at a very large discount of $10M in shares for approx $200M in equity.
This last week we even have bashers showing up (new to IHub on 3/8/10) saying that there is value, but everyone needs to sell their shares (too funny).
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47178315
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39020765
Yet again you fail to provide justified answers to my posts. Your "opinions" have no merit.
Again, the only reason your here is to provide deception for your own benefit as covered in my post #1134:
Again nothing to backup your comments....post all links to justify all of your statements (not very hard to understand).
Your getting tangled up in your own deceits & now you can't even remember your comment that I would not buy at .05 (put up or shut up). Getting so bad that you can not even reply to the correct post #1134 , which calls you out for your deception here. I have not sold any shares & only try to create awareness of the potential here to fellow IHubbers (many who have helped me previously with other picks). Ever hear of the phrase "pass it forward".
The current proposal has not yet been reviewed in court by the BK Judge & your comments about the creditors approving with other plans is BS. The creditors basically can only claim the loan amounts & they have no rights to excess shareholder equity. You also reference other cases that have no relation to this one. Again, based on the current proposal this stock is not going to zero, since the ratio buying power would be effected. Your now contradicting some of your previous posts (such as #1094), which you agree there is potential value here.
Provide a link. Since you seem to be following wamu, you should know by now that claims can be removed quick.
Expected you to back down, proving again your comments have no merit. So you want everyone else to sell, but your holding onto your shares (a lot more than 15k). Your credibility is zero, since your opinions are so far skewed with no backup/links provided. Why don't you give up, since everyone knows your making a poor attempt in trying to accumulate cheap shares.
With respect to your comment below on creditors, the BK Judge is the one that will review/approve proposals during & after the exclusive periods. Explain to me how a BK Judge would eliminate over $200M in equity ? Good luck with this one.
How about this....you sell me all your shares for .05 on Monday ?
Your not very good at posting, you need to stay away from the junk so your mind will not be so fuzzy.
Sorry driee, could not be on line today to catch the small trades that went through at the .05 bid. However, no big deal since these were very small trades & lasted only about 15 minutes. Looks like someone still trying to keep the price down....you have any idea who this may be...haha.
So you selling me all your shares on Monday ?
HAHA....not me, but glad your finally coming around to see the potential here.
Time will tell, but sell me your shares Monday so you do not have to worry about it.
With respect to the current proposal (not approved yet in bk court), my understanding of it is in my previous post (link below).
I intend to be here to get a portion of the $10M in shares for approx $200M in equity (per recent filing). This could be at a very large discount of $10M in shares for approx $200M in equity (per recent filing). The positives for me is that they are admitting equity after bk with the current proposal & the majority of the stock is owned by the principals Meruelo/Maddux. I believe this current proposal will be reviewed during the court date on 3/19/10. Also, I believe enhanced plans may be submitted by others after the end of the exclusive period. MMPIQ has large name recognition in the Los Angles Area & many eyes could be on this case for proposing an enhanced plan.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47178315
If your so disappointed, please sell all of your shares on Monday....I will take them off your little hands.
Sorry your wrong again, look at the weekly chart for MMPIQ.
Yes, the bashers are looking for cheap shares to accumulate (good sign for us). They just signed up to IHub this week & only post on the MMPIQ board......too funny.
Sorry been away a few days & will need to catch up.
I will start with your post: we are laughing at you & your attempts to lower the price for accumulation.
drsandcrs/zonaboy: The stock price & volume have increased since the current proposal was filed about 10 days ago & the bid is increasing with it....maybe this will give you an idea of where this stock is going. You are not fooling anyone by showing up this Monday on IHub with your negative opinions.
Stock price not going to zero per reference in my previous post:
Funny....now we have both "New" IHub posters agreeing with them selfs.
Notice the bid is moving up daily.....shares are getting tougher to find.
You need to reread the portion of my post with respect to why small holders would buy:
You remind me of a Poster from other bk boards.......I believe his name was "Value Investor" or something like that. He was a real funny guy & would keep telling people to sell and then a few days later he said he owned "10 million cheap shares" or something like that. Anyways, considering the potential here, I can not blame you for trying to accumulate more shares on the cheap.
No validation or backup to your comments & not convincing at all. Appears you could not accumulate all of your shares before the price jumped on you. Noticed someone's games with the price today.....not many shares left.
To simplify some possible reasons to buy existing stock:
Small holder: Large Investors accumulating existing shares could put a squeeze on the share price, since the current "max" available qty is small.
Large Holder per current proposal: $10M new shares for $200M equity, going at approx. 20X discount.
Another first time poster on IHub....welcome to the board.
Please validate the reasons why Institutional/Venture Capitalist would not want a portion of the $10M in new shares for $200M equity per recent filing (good luck with that).
Please validate reasons why existing shares would go to zero, since per the current proposal the only way to become eligible is to obtain existing stock (good luck with this also).
Do not believe many are aware yet of the potential here & this stock may surprise many people soon by not paying attention.
Thank you BurrTim for the information! Looks like someone is at it again late yesterday & this morning with the small sells to keep the price down. Large spread slowing down the trading action, but hoping they keep it this way for me to increase my position next week, when funds become available.
Great post & I believe well worth the effort. After I get the mailing addresses from you, I'm in for sending the letters.
Considering approx 63% of the shares "locked up", leaving approx 32.6M shares "max" available, substantial buy volume could make this stock price move very quick (as witnessed back in January). For my understanding with respect to the qty of shares required for the current proposal, see the bottom of my post #1039.
Yes, this may develop into an opportunity that could have some serious upside. Trading action is improving with the bid level increasing, but it appears someone is still making small sells to keep the price down & frustrate holders.
See this is your first post on IHub....welcome to the board. I do not see how a BK Judge would approve or justify giving all shareholder equity to only Meruelo/Maddux. Also with Meruelo/Maddux being Company Directors, I believe they have the obligation to maximize shareholder value. Maybe these are some of the reasons why they had to revise the original proposal to include others in equity. The current proposal is not approved yet and I believe further revisions may be issued to treat all shareholders on an equal basis.
I believe it will depend on the BK Judge review/approval of the current & future proposals. This one could have some serious potential considering the over $200M shareholder equity indicated in their recent filing & already proposals for equity after bk. I also view Meruelo/Maddux owning over 50% of the shares as a big positive in saving their interests in this company that has taken them many years to build.
Welcome aboard. Hopefully more will realize that the current proposal is admitting there will be equity after bk & I do not believe this proposal will be the last we see.
Hello faust357....Based on my projections of the proposal as mentioned in my post #1039, with the "Insider holdings" I do not believe it would be that difficult to be within the top 200 holders.
Also as I understand it, the amount of existing shares held would be "pro rata" (ratio) to determine the amount of new shares allowed to purchase per proposal guidelines. Therefore I can not see Meruelo/Maddux/Taylor/TAM selling existing shares, since it would decrease their "buying power" on the new shares.
Nice gain today on not much volume, which shows shares are being held tight.
Sorry I may have given you the wrong impression, I am also looking at this as a investment, since I can work with the current proposal.
Proposal is not approved yet, so we do not know yet if the final approved plan may include everyone. With respect to the current share price, please see my view of this in post #1045.
With respect to Taylor/TAM, the larger qty of existing shares held now allows them to obtain larger qtys of new shares later by "pro rata" (as mentioned below in post #1032):
Please see my post #1045....I believe more Large Investors will see this proposal & accumulate big qtys of existing shares.