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That is receivables and as far as debt goes, all debt and assets were signed over to the parent company in the beginning of the restructuring process.
VDC is in Liquidation but was rewarded a Strike off, in order to get a Strike off VDC cannot hold any debt or assets. The unique aspect of the Strike Off is they can re-register after they are stricken from the register.
The current assets are in the VDC note. Also in the SEC filings for VDI they have $17M receivables to be paid to VDC, however they are still in the Liquidation process and cannot operate as a company to receive them.
Not sure how much you have seen but they have $79M in assets and $17M of that is cash not yet paid to them, definitely worth a try!
Oil hitting the $54 range! Slow but steadily rising, day rates rising is a certainty as well!
VTGDF has $17M still not paid to them from the Parent company!
Can anybody say cash dividend!
Looking good!
VTGDF has $79M in assets right now with only common shares as a liability and out of the $79M $5M is cash still not received from the Parent company. With over half of outstanding shares canceled the approximate value of VTGDF shares are 58 cents a share.
Oh yeah, looking at a six a figure payout by next spring..., serious bank...
Building a nice base, looking forward to 2018!
Thanks for the good news! Steadily increasing revenue, it is only a matter of time, before we break out again!
Oh yeah, loving the progress, coming up like a phoenix!
Before ya know it, the price is going to reflect the value, up a 1000% and looking forward to another 1000% or 2000% maybe even ten thousand %!
Nice post Luv, good to see them making progress!
yep and unfortunately the buying habits have changed, they hedged to day at the end of the session, if they were buying at the end of the session, it would possibly start a new run, but here comes the hedging again...
the shorts dropped today!
sounds great to me!
looking interesting, trading habits have changed and even the trader trying to hedge the price lower doesn't have a chance, hope this trend keeps up..., maybe up into the .03range by July at this rate.
ok, thanks, will be interesting to see what happens next...
interesting point, either way looking good, buying on dips and holding on the rise, but just asking,do super computers hedge at the beginning and the end of a session?
market correction today, nice close!
understood. according to the assets they should be up to at least .30.
Hey Chico, I read your comment on that post and Fun Trades reply, this author only paints the market in broad strokes and usually with a negative tone, interesting to see what he said comes true or not. Really doesn't matter VTGDF's equity assets are guaranteed to be paid back to them.
Good post, thanks.
Let that price keep dropping, I will keep accumulating..., 2018 looks like a break out to around .05
A couple of things, Oil has went up above $50 again, hit $51 today.
Also the buying today was interesting in the first of the trading session, every time someone was hedging someone was buying, except for the end of day they still sold 2k and it wasn't matched.
If these two things persist the price will keep going up, but I am not holding my breath. Those hedgers are too persistent.
I was wondering when they were going to find support, guess it happened today.
Wasn't listed here but, I found the fact that Ihab pointed out that even at $50 a barrel is a price point where there ships can still make money.
Great post, I would to hear KPMG plays this out, since they denied in an email to me last year LOL
According to the VDI 10Q:
https://www.sec.gov/Archives/edgar/data/1465872/000156459017009020/vdi-10q_20170331.htm
The following table summarizes the balances payable to VDC included in the Company's Consolidated Balance Sheet as of the periods indicated:
(unaudited, in thousands)
Accounts payable to related parties, net
March 31, 2017 December 31, 2016
$17,278 $17,278
$17,278 $17,278
Just with this amount there is about .055 to be paid out per share and that is if there is roughly 312M shares outstanding, which I doubt.
Thanks,volume from the beginning of the year looks good, they keep this up and it could double.
The only thing I saw was an increase in common shares up to a 1B, which could be a negative, but the volume doesn't lie.
Anything after the subprime disaster was a buy, sounds like you did well. I shorted everything after subprime, so I did not see those incredible payouts, which reminds me to stick with VTGDF!
Are you talking about COF?
There are a lot of variables to make predictions.
Yahoo had a Low of .06 and a high of .17: https://finance.yahoo.com/quote/VTGDF/analysts?p=VTGDF
But I think it will take them getting out of Liquidation and oil to go up.
If they payout a dividend just by dividing up the equity assets I guesstimate around .3 .
If they keep hedging the price it might fall under the .01 mark and then there will be some heavy volume before 2018 and another surge after 2018, and the market correction will float up to .04-.05, all this hedging is just artificially lowering the price.
thanks Chico
VTGDF has been putting this off for a long time. When they register those shares that officially puts KPMG in a difficult position, because they now have to admit VTGDF has equity assets to the tune of $79M.
So, in other words we are getting closer to their either buying back the shares at a premium or dividing up the pie. Looking Good!
Just got real:
https://www.sec.gov/Archives/edgar/data/1465872/000119312517152199/d387951d10ka.htm
VDC Registration Rights Agreement
In connection with the effectiveness of our Chapter 11 bankruptcy plan, the Company committed to enter into a registration rights agreement with Vantage Drilling Company providing for the filing by the Company of a registration statement relating to the Company’s ordinary shares issued to Vantage Drilling Company upon emergence from bankruptcy on account of the secured promissory note previously issued to Vantage Drilling Company in the course of the restructuring process (the “VDC Shares”).
On April 26, 2017, we entered into a registration rights agreement with Vantage Drilling Company and the joint official liquidators thereof (the “VDC Registration Rights Agreement”). The VDC Registration Rights Agreement provides for the registration of the VDC Shares and requires the Company to file a shelf registration statement on or prior to the ninetieth day following the date of such agreement. The Company has agreed to pay all registration expenses under the VDC Registration Rights Agreement and agreed to indemnify Vantage Drilling Company against certain liabilities.
vdrm looks interesting, broke out around January, based in China, operating efficiently also nearing a new licensing catalyst coming up. Only thing is I could not find any financials.
Honestly this is the only penny stock I own, but everything else are monthly dividend based.
But I do still hold Fannie Mae just to remind myself that I shouldn't short a penny stock that can yield a return that only comes along once in a while. I had Fannie Mae when it was worth about 20Cents and it was hundreds of thousands of shares and sold it when it doubled and left it, next thing you know it was up and away to dollar land.
Ok, I am here until the end, in fact they keep on hedging the price and I am accumulating probably up to about 3M shares and wait until next year cut in half and keep the rest until the end or unless they hedge again and then I will rinse and repeat $$$$$$
Not clear on what you mean?
Yeah as you know and KPMG does not and will not release any information to the public because they are fraudsters!
So have to rely on VDI's SEC for the truth!
Looks like Petrobras is going to pony up some dough!
Petrobras (PBR) Board Okays Settlement of 4 Individual Suits
http://finance.yahoo.com/news/petrobras-pbr-board-okays-settlement-115511791.html
Yeah, just before the earnings announcement too.
Right now it is easy for people to manipulate the price and keep it down, but just wait until the beginning of next year when the market corrects itself, this next time it will be between 4-5 cents,
so yeah I am definitely going to double or maybe triple down and wait for the ride!