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Hi Cork. I view this as good news even if someone does not have enough shares to qualify for the proposal. More Large Investors should now be looking at this as a very good investment & the only current way to be eligible is to buy "large" qtys of existing shares.
Considering the $10M for over $200M equity & not treating all shareholders equally, I do not believe this proposal will be approved. However, I'm expecting a much improved proposal in the near future. Hold on tight friend, I believe the ride up is just starting.
To me it appears more like warrants at approx. 20X discount & Taylor/TAM would be fools to sell now. Actually I'm wondering if they have a plan to accumulate more.
enterprisinginvestor, reading again part your post below....this is still really great news if approved ! Is it correct that this just come out yesterday ?
Thanks for the information enterprisinginvestor. The way I understand it is that they are admitting there should be equity after bankruptcy, which is a very good sign for shareholders. I still find it hard to believe that a BK Judge would approve a $10M investment proposal for obtaining over $200M in shareholder equity as filed. However as you posted earlier, the current shareholders could have an opportunity to participate in this unbelievable proposal which could be at a 20X discount. After the exclusive period ends for what appears as a "worst case-lowball" proposal for equity, I expect a greatly enhanced proposal by others to better reflect the shareholder equity. With MMPIQ being one of the largest property owners in the Los Angels Area & having large name recognition in the LA Area, I believe there are a few eyes on this company in waiting for their turn to submit proposals.
Also with respect to the current low share price, it appears based on recent trading patterns that someone is still trying to keep the price down by small sells. This may be an attempt to accumulate shares &/or try to get the $10M plan approved (based on the current low share price). This price control was quickly lost last month by the increased volume for the fast jump to .12, which may indicate that there are not many shares available. As noticed during the last few weeks, the bid has been increasing since shares may be getting harder to find. I'm waiting for these games to finish & believe this stock is going to catch many Investors by surprise.
Congrats again TPL ! Appears Q's are getting hot & looking for MMPIQ to get some attention (basic information below). With approx 63% shares "locked up" on the total 88.1M shares, this stock can move fast. See chart link below.
1)This month filing indicates approx. $202M shareholder equity (equates to $2.29/share).
2)Meruelo & Maddux own over 50% of the approx 88m shares.
3)Taylor/TAM obtained approx 13% during bankruptcy.
4)After BK, John Maddux (President/COO) acquired 502,679 shares at .10. Form 4 filed on 3/31/09 & seen no filings afterwards that he has sold.
5)One of Los Angeles' largest property owners & large name recognition in the LA Area.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39020765
Q's turning hot. Been following MMPIQ & some basic information below. With approx 63% shares "locked up" on the total 88.1M shares, this stock can move fast. See chart link below.
1)This month's filing indicates approx. $202M shareholder equity (equates to $2.29/share).
2)Meruelo & Maddux own over 50% of the approx 88m shares.
3)Taylor/TAM obtained approx 13% during bankruptcy.
4)After BK, John Maddux (President/COO) acquired 502,679 shares at .10. Form 4 filed on 3/31/09 & seen no filings afterwards that he has sold.
5)One of Los Angeles' largest property owners & large name recognition in the LA Area.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39020765
Hi xbigshot1. Been following MMPIQ & some basic information is below. With approx 63% shares "locked up" on the total 88.1M shares, this stock can move fast. See chart link below.
1)This month filing indicates approx. $202M shareholder equity (equates to $2.29/share).
2)Meruelo & Maddux own over 50% of the approx 88m shares.
3)Taylor/TAM obtained approx 13% during bankruptcy.
4)After BK, John Maddux (President/COO) acquired 502,679 shares at .10. Form 4 filed on 3/31/09 & seen no filings afterwards that he has sold.
5)One of Los Angeles' largest property owners & large name recognition in the LA Area.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39020765
Thank you Rig. MMPIQ shareholder equity at $202M (approx 2.29/share) as indicated on page 94. Chart (linked below) appears to have leveled out & looking for the volume to increase for a move up.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39020765
I believe Taylor/TAM would have had to file a form 4 (holdings over 10%) by accumulating over 13% of the total shares and their mention of "communications w/ management" (now Insiders).
No problem. I need the entire report to answer your question, but I do not believe the $215M shareholder equity would disappear in a month.
Welcome to the board. I'm also accumulating in this area with the MA's leveling off. With the current share structure, this could move fast with a volume increase as witnessed last month on the jump to .12.
They have many more properties than the two listed & this does not appear to be a complete report. Last months filing indicated an "overall company" shareholder equity of $215M.
Ok...done
Yes, POPN just consolidating after recent increase. Looking forward to next week for the continuation upward.
MMPIQ compared to GGWPQ may possibly turn into a similar situation. MMPIQ filing last month indicated approx $215M in shareholder equity, which equates to approx. $2.40/share. Principals Meruelo & Maddux own over 50% of the shares and an outsider Taylor/TAM obtained over 13% of the shares during bankruptcy. This company is one of Los Angeles largest property owners & has name recognition in this area that is home to many wealthy people. Considering MMPIQ shares available, if news like GGWPQ does hit, the price could multiply instantly.
Taylor/TAM indicated that they were having "discussions with members of management", which may now classify them as Insiders & limit further purchases or public discussions with respect to this. A positive sign of their investment is that the shareholder equity in the filing last month has increased from the previous filing.
North Pointe Capital did not have many shares & with shares going to the pinksheets last month, some funds will not hold pinksheets shares. This may explain the recent drop in price & I'm looking for a nice recovery soon.
Please show me the post. I have been following this company for a while & have not seen where these shares were "sold back". If true, I believe this would be great news that someone is trying hard to accumulate more shares.
Agree, POPN just consolidating some to prepare for a breakout.
MMPIQ possibly a similar situation as GGWPQ ? MMPIQ filing last month indicated approx $215M in shareholder equity, which equates to approx. $2.40/share. Principals Meruelo & Maddux own over 50% of the shares and an outsider Taylor/TAM obtained over 13% of the shares during bankruptcy. This company is one of Los Angeles largest property owners & has name recognition in this area that is home to many wealthy people. Considering MMPIQ shares available, if news like GGWPQ does hit, the price could multiply instantly.
MMPIQ possibly a similar situation as GGWPQ ? MMPIQ filing last month indicated approx $215M in shareholder equity, which equates to approx. $2.40/share. Principals Meruelo & Maddux own over 50% of the shares and an outsider Taylor/TAM obtained over 13% of the shares during bankruptcy. This company is one of Los Angeles largest property owners & has name recognition in this area that is home to many wealthy people. Considering MMPIQ shares available, if news like GGWPQ does hit, the price could multiply instantly.
No need to wonder about this, Taylor/TAM purchased a lot of shares during bankruptcy, see their statements in post 987 below with respect to "company's assets far exceed its liabilities".
Looking for MMPIQ to possibly turn into a similar situation as GGWPQ. MMPIQ filing last month indicated approx $215M in shareholder equity, which equates to approx. $2.40/share. Principals Meruelo & Maddux own over 50% of the shares and an outsider Taylor/TAM obtained over 13% of the shares during bankruptcy. This company is one of Los Angeles largest property owners & has name recognition in this area that is home to many wealthy people. Considering MMPIQ shares available, if news like GGWPQ does hit, the price could multiply instantly.
Looking for MMPIQ to possibly turn into a similar situation as GWWPQ. MMPIQ filing last month indicated approx $215M in shareholder equity, which equates to approx. $2.40/share. Principals Meruelo & Maddux own over 50% of the shares and an outsider Taylor/TAM obtained over 13% of the shares during bankruptcy. This company is one of Los Angeles largest property owners & has name recognition in this area that is home to many wealthy people. Considering MMPIQ shares available, if news like GGWPQ does hit, the price could multiply instantly.
Nice news on GGWPQ. Looking for a similar situation with MMPIQ, but on a smaller scale. MMPIQ filing last month indicated approx $215M in shareholder equity, which equates to approx. $2.40/share. Principals Meruelo & Maddux own over 50% of the shares and an outsider Taylor/TAM obtained over 13% of the shares during bankruptcy. With the MMPIQ share structure, if news like GGWPQ does hit, the price could multiply instantly.
Hi Cork....nice news on GGWPQ. Still looking for a similar situation with MMPIQ, but on a smaller scale. MMPIQ filing last month indicated approx $215M in shareholder equity, which equates to approx. $2.40/share. Principals Meruelo & Maddux own over 50% of the shares and an outsider Taylor/TAM obtained over 13% of the shares during bankruptcy. With the MMPIQ share structure, if news like GGWPQ does hit, the price could multiply instantly.
Yes, expecting a nice recovery today for POPN. Considering yesterday's much larger buy volume compared to sell, appears the MM's or someone may be accumulating for a larger run in price.
Hello ABIGHAMMER. Seen many of your postings on the Washington Mutual boards & appreciate your input (I also still own some from early last year).
With respect to MMPIQ, I like the ratio of risk/reward for what could turn into a similar situation as GGWPQ, not in total dollar amount, but possibly shareholder value. The MMPIQ filing last month indicated approx $215M in shareholder equity, which equates to approx. $2.40/share. Also, the Principals Meruelo & Maddux own over 50% of the shares and an outsider Taylor/TAM obtained over 13% of the shares during bankruptcy. This company is one of Los Angeles largest property owners & has name recognition in this area that is home of many wealthy people. Just like Washington Mutual, the best time to buy is when not many are familiar with the possibilities. With the share structure here, if news like GGWPQ does hit, the price could multiply instantly.
Looking for POPN to continue the upward movement & bust up through the cloud (chart linked below).
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44967721
Looking for POPN to continue the upward movement & bust up through the cloud (chart linked below).
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44967721
MMPIQ has approx 88M shares for which Mereulo & Maddux combined own over 50% and Taylor/TAM own over 13%. This does not leave many shares available and any positive news regarding the $215M shareholder equity should make this one rise fast.
Good stuff, better than watching the advertisements prior on my link. Maybe now POPN can advertise "As seen on the TV show Glee" ?....haha.
Appears someone still trying to keep the price down with the small sells today (attempt to accumulate?). Considering over 63% of the approx. 88M shares are locked up by Insiders & Taylor/Fund, there is only approx. 32M shares max available. With any good news, these prices will be history very fast.
Nice catch......POPN machine shows up near the start of the episode in the teacher's lounge (left corner of room). Episode link below.
http://www.fancast.com/tv/Glee/103049/1348115298/Mattress/videos
With POPN, I'm expecting at least the same increase in price as the last time it went through the cloud (as seen on chart link below). Appears shares are getting tight with accumulation and should move up quick.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44967721
Very nice buy on POPN late in the day. Looking for continued upward movement starting today after yesterday's slight pull back/profit taking of the 80% increase on Tuesday. Looking for POPN to bust up through the cloud on the chart linked below.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44967721
I do not see how a BK Judge would approve the $10m Investor for getting $215m in shareholder equity. To me this appears as a feeble proposal for the company during the exclusive period, while opposing proposals are not allowed. I believe a revised proposal will be submitted to reflect the equity indicated and the current stock price will be multiplied instantly.
POPN had some nice volume the last few days, news may be coming. I wonder if the former Wal-Mart Manager hired by POPN a few months ago, streamlined an agreement with his contacts ?
Nice information on POPN. Next leg up could be occurring with many chart indicators pointing up, in addition to entering the cloud. Chart link below.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44967721
Chart for POPN shows many indicators pointing up in addition to entering the cloud. Chart link below.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44967721
Taylor/TAM own over 13% of the shares and I do not see any SEC Filings (form 4 for 10% or more) that they have sold any shares. Volume for 12/1 and 12/2 does not correspond, since there were many buys during these days and not all sells as implied. I believe some others may have been selling with not knowing the shareholder equity situation. I have no response for the Sept trade data.
I have not seen any BK approval on reorg plan to cancel shares & the exclusive period may be extended to May 2010. I believe this may give the time to develop a plan to keep equity intact.