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I don't totally object to your reasonable expectations for moving this agreement with Nulixo along...I suppose it could very well go down as you have stated. From Nulixo's position, if they are compensated for the repairs to #3, then your plan works. However, I do evaluate RH's next move regarding a "fait accompli", which also includes Nulixo, somewhat differently. RH has got to be sitting back, after many years of his company being illegally shorted, thinking what is the biggest bang for the buck at this point and into the future?? Literally, within a couple week's time, with a couple of well placed 8-k's, agreement signed, initial monies exchanged, licensing, monitoring and services, municipalities via Nulixo identified, etc....the entire landscape of PTOI changes dramatically!!!
Does a month or two fixing the machine (they know the machines and process works)...testing product (they know what can and can't run)...potential breakdowns= $$(after so many years of non-use).....and THEN signing an agreement...IMO.... does that deliver a "fait accompli"??
Realistically, you can't expect Nulixo to pick up the tab on EVERYTHING... RH and PTOI will have to dig for this also. The well, through the years, no doubt has run dry....options look much better with a significant SP increase and positive outlook on the future.
I believe Nulixo and RH are on the same page in terms of getting a machine into use....but somehow...I see their methods, based on some historical data, non entirely lined up. Given that financing this monster may be an issue, I think RH is well aware of the options and has consulted with the right people to play this out.
We'll see...
GL PTOI'rs
Nulixo COULD come up with the funds to get #3 online...what 300k? 15%? of an agreed new machine? Then what? mmm...thinking some meetings with founder and video as well as meeting with engineers would be sufficient. My guess is...they're hammering out a service and monitoring plan...which may or may not include getting #3 online and some other monetary considerations. Time will tell. I don't think drive-by investors witnessing cars in a parking lot outside the plant is all that informative IMO... I could be wrong. :) Although Heddle communicating through an 8-k and press release is another matter!! Just what longs and shorts need to witness! :)
if reps from Nulixo were set to attend a viewing of #3 in action this week...one would assume that work that needed to be done...would have been already completed. Given that, I can only guess we would have seen some activity last week. Personally, I don't expect to see any large scale run with Nulixo product. The stats are in...what can and can't be run in the machine is already well-documented, the process documented, and that Ragus is involved (given previous relationship with PTOI)...I really doubt a product run is necessary. I suppose for ha-ha's it might provide a good show...but not necessary.
I'm not surprised there is no full-scale activity at the plant. The purpose of the visit to Canada can only provide for administrative purposes and some reasonable formalities otherwise...IMO.
Football...could be as simple as cash adjustment for fractional shares??...don't know that I'd make more of it at this point IMO
s4u...good post...would rather hear this from the SG firm. My only reasonable hope regarding escrow returns has little to do with what is posted on this board but that NOTHING was filed through HF's and big money re: objections to bank closure and dissolution to LT. Why?? They have a sea of legal representation that have the answers.... where we have what we have representing escrow ... IMO
It would seem reasonable that given the closure of bankruptcy and LT, that legal representation of 19 and 22 would make some sort of statement re: F&R, and where "that" may be generated, given the LT statement. We were represented a decade ago to a suitable arrangement...and despite that, we have nothing but speculation (aside from LT statement) today. For such a seemingly experienced group of posters, to be left essentially in the dark, poking at theories as to any recoveries for escrows at this point...seems a contradictory and vulnerable position??
OH OH...this is good...nobody dumping at the bid ... .06 ....and nobody really attempting to sell much of anything in the .08 range ( I don't believe any of that to be "real" shares anyway). Seeing as the last run started at app .03.....and went to .10-11 ....I'm guessing .20 on this run basing on .06-.08 we'll see... wow... what a bit of news would do!! .10 will be the new base shortly!!! GL PTOI'rs
They don't have the shares that are posted @ the ask...not often you see the ask RISE with no "sale" at the ask. Think some MM's could be caught a little "short" here!
GL PTOI'rs
been following these stocks for years...and have never seen anything like this...totally flat on two days of $20 moves in metals. One that I follow EXK is actually DOWN!! never seen such BS!! Only thing I can figure is a concerted effort to discourage retail from hanging on...no other reasonable explanation...IMO
definitely something up... I agree...this and a few others I follow generally trend with the metals price...and they were down today on a nice metals run. I know there are some shorts out there yet to cover...who knows...trying to outlast the exhausted shareholders??
I don't recall the attorney for Noteholders interjecting that in light of AG's position, that they would be fully expecting the other 15% due them. Rather... as we all might concede...happy with 85%. I would imagine a flurry of legal activity in the unlikely event of scuttlebutt regarding equity receiving anything...but time will tell.
W3R...
Any Large Escrow/Marker Distributions ...
can be forwarded with your "Appeal to Closure"
Equity v. WMI
ICO: THJMW
....wait let me get the address...
rather than cluttering up the COOP board with theories!
GL All....Merry Xmas!
OK...maybe I heard the proceedings incorrectly...but if you have any clue where Equity is getting ANYTHING....let's have it... and I'd rather not opinion please. Based on that court hearing...we are dead in the water!!
AG is cluttering up Rosen's playpen with her motions. WMI and WMB are separate parties and Rosen is fending off AG's implication otherwise. But I have to say I'm confused as to the LT's purpose (collecting and appropriately disbursing funds) if there is the potential for other recoveries...and they want to close up shop and destroy the evidence... insert a foul smelling something or other.
The last thing Rosen wants to address is the possibility of BIG $$$ elsewhere...in fact..the whole idea that as a result of Washington Mutual's bankruptcy, it's generating thousands of millionaires from the lowest levels of investors (based on a good many numbers generated here on this board). It's completely mind-blowing to say the least...makes you question whether or not we have really been addressing a bankruptcy over the last 11 years....or there's a whole lot of smoke being blown up people's port holes around this place. I suppose we'll hear about nothing soon enough. :)
AZ..respectfully... I wonder if we could get beyond this
I'm assuming there will be no mention of hidden assets or what lies beyond what the LT, WMI, and Rosen state to be true...and subsequently, a real dud for equity. And yet, there are two cases to settle with the gavel coming down. During this hearing...if we get there..should we be listening "for" JMW to question whether or not the stipulations or agreements under the GSA have been fulfilled?? Isn't there some agreement that the GSA must be settled before closure...and that's where "something",via WMB....JPM...may be in wait for equity? We know where WMI stands...go pound sand! Without coming out and saying so...and creating an equity onslaught of legal filings..could someone mention a "settlement" that meets the GSA? Otherwise..I expect no mention of anything for equity...until a JPM or COOP 8-k ...
Anyone? tia
LT basically stating don't look at "US" the Liquidation Trust and WMI for anything to return to equity... I don't think I've seen such a blatant ..."go bang on WMB's door" for equity's interests..ever stated by LT. Interesting...I thought that was the plan anyway? WMB?? no?
not only "when"...but what entity do we anticipate to generate a $$ number or shares going forward?...if there IS a number for equity to choke on/gasp at? IS it Rosen? Is it the FDIC?...Hotchberg? JPM?? THJMW?? MW?? Are there numbers that are not settled..even between these parties?...and if the number is divulged...right..."when"?? If the GSA is to be settled before closure..and JPM is settling up...as many assume..are we looking for an 8-K out of JPM or COOP for this info?
Anyone? TIA
hold2...wow...given what I'm hearing in that podcast..it seems many legal issues are unresolved re: trusts.... I can't help but think the bankruptcy closing is being rushed before this bleeds out entirely. Something MUST be going on behind closed doors JPMC/FDIC to get some sort of settlement hammered out...this can't be good! If final payment is on the ropes before closure...they're awful busy playing with numbers...
HA! HM...are suggesting for one second that some people around here don't actually know what they own??? Say it isn't so...
My guess is everyone will be pissing themselves with 10% of JPM's last best offer..
Nobody really "knows" what is coming our way...and if they play like they do...sorry saps that follow them...and funny thing is...nobody that is hired (not..the court?...ha!) to represent equity will tell them if they've been shortchanged...and equity ..even the best of them...will never know the difference...because there was never a number ..EVER...to begin with.. pathetic state IMO...but ..hey... we all can't claim to "know" and be totally wrong altogether..all at once..ha!...it's all incredibly comical!! what a joke!! :)
AG's objection is not "simply" about the UW issue. It also objects to the time frame of records destruction... that issue has not been presented in court. Time will tell whether it's "heard" or shelved.
Mordicai...thanks for your candid post. I haven't seen anyone jump to the front of the line to state exactly.. distributions they "expect when the motion to close" is on them... which indicates to me...nobody and I mean NOBODY has a clue what "they own"... and the range on this board is from hieroglyphics to total fantasy....no distribution to equity...which is a direct quote.. to 10's of billions will fall from the heavens into the pockets of equity...f'n ridiculous! This is a bankruptcy people...equity is going to be lucky to walk away with 5-10% of value and everyone is going to shut up and go home...
If you think Equity is riding the coattails of UW's ..think again...they got their deal ahead of us (plan 6 revisited)...(AG's question to the court) ... they have nothing but disdain for leeches in a lower class...and equity will lose when it comes to a court battle... especially...AFTER THE FACT..(closure)!!
Honestly...I expect maybe 5-10% of JPM's final offer...AT BEST!!! again..it's bankruptcy!! It is what it is...and nobody here knows what they own until "they" allow us a bone..and at this point....old and moldy!
Get over it already!
Ask looks pretty thin...I'm sure some MM would slip in there to stop the bleeding if the recent buyer was interested again. It sure would be nice to hear from Heddle...get some decent news...surely would send this over the .11 mark. The bid is creeping up...nice to see longs holding out!
GL PTOI'rs!
Short % Increase / Decrease
488 %
Short Interest (Shares Short)
58,200
Short Interest (Shares Short) - Prior
9,900
hmmm...well THAT certainly appears "different"! Not the game changer we're expecting :)...but it's good for a chuckle! :)
Don't think it will close before the 19th hearing. AG's objection is two fold now...The UW/LT agreement and the timing destruction of records. THJMW may have to weigh in on the timeline...IMO. Red flag for sure!
AG's objection has stated once again...The UW's were snakes then (plan 6)...they're snakes now (plan 7)...and when it comes to a legal battle ...they are going to hand equity their arses (plan 6 revisited)... I don't understand the objection to her filing...save for a timing issue, and I don't see that she's out for anything other than protecting equity..moreover in the destruction of records in a year's time...bogus!! There is no hardship in holding onto this data forever!! If nothing else...she put equity on alert that we need legal counsel to sort out these proceedings... and I'm all for it!
IMO fantastic news!!! IT's wonderful they've located and are continuing to drill for more....but they need to get this stuff out of the ground and to the market...enough already!! Good move!!
HM
HM... If I'm not mistaken...one of the issues I had with the UW's in Class 18 was that they are "uncapped"! Well, that may seem trivial at this moment given the numbers we speculate are finite, BUT, we're not done are we!? As far as I'm concerned the UW's...with their vast resources of cash and attorneys and an inch of wiggle room ...and wow...we're right back to Plan 6 ...perhaps not "technically" or even "legally", but having them unsettled, uncapped, looking for more, and ahead of equity is not an enviable position...don't care how you slice it. I trust them, the LT, these attorneys, and the whole darn shooting match about as far as I can throw 'em. It's been 11 years...so what if it goes another 6 months.
I understand and appreciate your point of view...and to a degree concur. Why not wait until the sector is off and running and put a hurt on the shorts rather than creating this "bailout" (if you will) for them. I agree..why go to a bank?? I just think Rob shortchanged long term shareholders with this move IMO.
so much for short covering...or pretty much... let's see... Rob discontinues the dividend...and subsequently plays up the short position...MUX stumbles around for 2 years....under tremendous short pressure....then let's them cover at a discount to what we've been holding for years... ahhh... can someone scream ....NOT RIGHT!!!!??
Ron..have you a link to that statement from the docs? TIA
Again...nobody is stating the LT is cancelling anything... I don't know why it's being repeated as though someone stated that...
AZ...with all due respect... I C&P'd "a" LT statement from the documentation. Never in that statement did the LT state they were cancelling anything...only suggesting upon closure that cancelling cusips was appropriate. I did not read specific tranches or classes.... it certainly appears all cusips if it doesn't identify otherwise...??
M_B...as much as I appreciate your notion...after 11 years, we shouldn't be backed into a position of hiring ambulance chasers to get what has already been disbursed elsewhere! :)
~ "Equity's" Tracking Markers (ESC Cusips) "ARE NOT" Being Cancelled By The WMI-LT ~
I don't think anyone is stating that...necessarily...What the LT does contend is that it's appropriate ..upon closure...for cusips to be cancelled...
so...if safe harbor assets are to be distributed post-closure...how will they find us...if we don't have a tracking mechanism?
Cancellation of LTIs and Escrow Markers/Escrow CUSIPs
61. With the final distribution being made to holders of Allowed Claims within Class
18, all Liquidating Trust Interests which were issued pursuant to the Plan to holders of Allowed
Claims or reserved on account of holders of Disputed Claims, and subsequently transferred to
holders of Allowed Claims as payments flowed down and in accordance with the Bankruptcy
Court-approved Plan and waterfall, will have been satisfied and there will be no remaining
beneficiaries of the Trust other than potential charitable organizations. To the extent that
Case 08-12229-MFW Doc 12686 Filed 11/14/19 Page 30 of 32
31
111839469v6
“escrow markers/escrow CUSIPs” have been administratively issued for tracking purposes,
WMILT submits that cancellation thereof is appropriate in order to avoid inconsistency and
misunderstanding in the marketplace. WMILT submits that such cancellation of escrow
markers/escrow CUSIPs will not prejudice any party as no additional distributions will be made.
?????
http://www.kccllc.net/wamu/document/0812229191114000000000001
If the case is closed before safe harbor assets are released, yet, "escrow markers/escrow cusips" are terminated upon closure...how are these supposed assets from any other source finding their way to "Us"?