IMO, once they settle the pension issue and that 1.3+ billion comes off of the balance sheet, the days of the share price being in the teens will be a distant memory.

I echo your comments wunderschatz. Special thanks to the 'big three' of Wall, Jax, and MC, and thanks to all who have helped to make this a very informative and helpful board.

Ha! Good one. That actually made me laugh out loud...!

Seems like a good sign that MITR is buying :)

Miller Tabak Roberts Securities, LLC has built a reputation as one of the premiere boutique securities firms, helping institutional investors generate returns through expert research, strategy and execution

http://www.mtrdirect.com/

Great points newtech. Thanks for your views and all of the DD you've contributed throughout the year.

Now let's all enjoy the Holidays...!

Someone got 150000 of the B's through DOMS shortly after that story hit. Seems like a good sign to me. Again, this story is far from over.

Everything I've read so far seems like the judge only gave the ok to letter (A) below. My guess is that the other 3 points haven't been decided on yet. Anyone else read it the same way?


(A) AUTHORIZING (I) REPLACEMENT
POSTPETITION SECURED FINANCING, (II) USE OF CASH COLLATERAL
AND (III) REPAYMENT OF EXISTING POSTPETITION FINANCING AND
PREPETITION SECURED FINANCING; (B) AUTHORIZING ENTRY INTO
PLAN SUPPORT AGREEMENT; (C) AUTHORIZING ENTRY INTO EQUITY
COMMITMENT AGREEMENT; AND (D) SCHEDULING A FINAL HEARING

DOMS is on top of the bid for the B's for 150000 shares at .265. Wow.

As expected, the EC's objection to the plan:

http://www.kccllc.net/documents/0910156/0910156091221000000000006.pdf

Unreal. The court HAD to see the possibility of BS like this coming way back in March, and that's why they appointed an EC. Have to believe we have the court on our side, which is a huge plus.

I just don't understand why the company seems intent on undervaluing itself.

MOR out:

http://www.kccllc.net/documents/0910156/0910156091221000000000002.pdf

They took an 'Imparirment of Goodwill' for 11.6m, reported equity of 248.8m.

I bought more. This story is FAR from over.

Question for someone who understands how MM's operate. I had an order in to buy B's today at .495, and only got filled for about a 10th of my order. I only got a chance to look at level 2 four times throughout the day, and DOMS and NITE were on the ask at .495 all four times.

Does anyone know why they would not fill my entire order? Thanks guys.

Got my letter today (Minneapolis), reply was both faxed and sent via Fedex.

walkertpa - I think once the 1.5 billion comes off the books will be the time to petition the courts for EC's.

Things are really going to heat up here in the next couple of weeks. Huntsman sweetens their proposal and puts the pressure on to follow through on the auction:

http://www.kccllc.net/documents/0910156/0910156091213000000000002.pdf

Unfortunately, all of the 'good stuff' in exhibit C is redacted. This is getting good. Can't believe B shares are this low. Great bargain IMO.

Just to see what would happen I put a bid in for the B's at .49. They gave me a grand total of 1 share. That's just like a slap in the face! LOL...I have a bunch of free trades so at least I didn't get charged a commission on it!

Ha! That actually made me laugh out loud.

Try this link:

http://cxa.marketwatch.com/finra/BondCenter/BondTradeActivitySearchResult.aspx?StartDate=12/02/2009&EndDate=12/03/2009&SelectionOption=2&TradeSize=&SortBy=0&ID=ODk3MDUzQUIw

Looks like a number of trades today.


Issue: KMG.GP Description: TRONOX WORLDWIDE LLC Coupon Rate: 9.500 Maturity Date: 12/01/2012
Execution
Date Time Status Quantity Price Yield Comm. Modifier 2nd Modifier Special As Of Reporting Party Side
12/03/2009 14:51:26 T 500000 72.500 0.000 N @ S
12/03/2009 14:50:51 T 500000 72.000 0.000 N @ B
12/03/2009 13:37:24 T 25000 68.000 0.000 N @ D
12/03/2009 13:36:51 T 25000 67.500 0.000 N @ B
12/03/2009 13:21:29 T 500000 72.500 0.000 N @ S
12/03/2009 13:21:00 T 500000 72.000 0.000 N @ B
12/03/2009 10:40:46 T 1MM+ 71.750 0.000 N @ B
12/03/2009 10:19:00 T 1MM+ 72.500 0.000 N @ D
12/03/2009 10:18:15 T 1MM+ 72.000 0.000 N @ D

Gotcha. Sorry, I misunderstood...

uhlmant -

Looks like exclusivity deadline is 12/15, but there was a motion on 11/30 to extend to 3/15.

http://www.kccllc.net/documents/0910156/0910156091130000000000002.pdf

Stervc -

Just so you know, I called them around 2:30 CST today and talked to Mary. She said outstanding shares are 'estimated' to be 561,542,000. I asked her why they are estimated and not exact, and since they are estimated, how far off can the estimate be compared to the exact number outstanding. She said they can be off around a 1000 for a company with the number of outstanding shares that mcln has. I then asked her if mcln wanted to increase the outstanding shares, at what point do they have to let them know. She said 'right away'.

Ihub shows the outstanding shares at 561,542,968. Based on my conversation with Mary, I would conclude mcln is not diluting. However, I'm not an expert. I'm just relaying what she said.

Hope this helps...glta

power_forward72 -

Why don't you just call the TA and find out the official number of shares outstanding instead of speculating?

http://www.medcleantechnologies.com/about/investor.html

Jax and WS -

Can't thank you enough for all of your efforts. They are greatly appreciated.

Anyone know why we don't see a court document posted regarding the outcome of the EC's motion of refinancing the DIP? It looked to me that a decision was suppose to be make on Tuesday the 10th. It was on the agenda (doc 856), but I don't see anything indicating a decision was made, or they were going to reschedule.

Nothing posted yet on the DIP refinancing issue.

Did anyone see this?

http://www.kccllc.net/documents/0910156/0910156091110000000000004.pdf

EC wants exclusivity period period terminated so they can file their own POR. Didn't have time to analyze it yet. Saw they proposed new preferred shares for the unsecured creditors (65% cash, 35% preferred). Then I jumped right to the proposed equity interests portion of it and saw this:

Equity Interests in Tronox shall receive their pro rata share of [__]% of the
New Equity and shall be provided the opportunity to participate in the
Rights Offering.

I was hoping to see a percentage, but none was there. Regardless, it's great to know we have an EC working for our interests. It's clear we would be toast without them. With them, I think it's likely that current shareholders will be rewarded when all is said and done.

newtechinvestor -

I wonder about managements motives also. It seems they are determined to value the company so there is no equity on the books.

I'm still puzzled as to why there is such a large discrepancy between the equity shown on the MOR's, and the last 8K. The last 8K shows negative equity, while the MOR's show positive equity. The MOR's are unaudited, but it seems that the last 8K released 10/14 is unaudited also. It's probably easy to fudge the numbers to best meet whatever it is the company wants to accomplish. My only guess is that they want all cash for their assets, no equity involved in the deal at all. Huntsman's stalkinghorse bid is half equity. But you can bet any bidder will uncover the true value of the assets, so I'm not quite sure what that, or comments like equity is 'out of the money', accomplish.

Keeping my fingers crossed for Tuesday. Even if the motion is not granted, the ball game is far from over.

Anyone else see K&E's objection to the EC's motion?

http://www.kccllc.net/documents/0910156/0910156091106000000000006.pdf

I found this interesting:

Tronox also has made substantial progress on the sale path, recently receiving ten indications of
interest from potential bidders concerning all or a portion of its assets. Tronox is encouraged by
the strong interest in its assets and continues to believe that the auction will be competitive.

The following statement shows how important it is to have an EC, because K&E will do everything in their power to award nothing to the common shareholders.

The Equity Committee is a fiduciary only for a limited group of
Tronox’s stakeholders, and one that is out of the money.

The hearing is Tuesday at 2:30 EST. As you said newtechinvestor, it will be a home run if the EC's motion is granted. It sure seems in the best interest of all parties to grant it, but K&E will not go down without a fight.

Hey Clay...ABWTQ when/if you get a chance? Thanks!

FORT (Ticonderoga Secrurities) on the bid. Haven't seem them here before. Here's a snapshot from their web site of who they service. These are the types of MM's we like to see buying.

Ticonderoga Securities LLC, a brokerage company, provides investment services for institutional markets. It offers block trading, electronic transaction, direct floor access, soft-dollar facility, commission recapture, and research conversion services. The company also provides equity-research services relating to technology supply chain and networking companies. It serves institutional investors, corporate plan sponsors and public plan funds, money managers and mutual funds, and bank trust departments. Ticonderoga Securities LLC was formerly known as Reynders, Gray & Co., Incorporated. The company was founded in 1979 and is headquartered in New York, New York.

I can't open it Jax. The page it goes to says 'not found'...

Abishiti...that actually made me laugh out loud.

You may think the merger was a disaster, but that doesn't mean the stock won't go up from these levels.

Thanks for the laugh, and good luck to you.

We're up about 60% in 4 days and not on anyone's radar yet?

Methinks there's some good things going on behind the scenes here.

Floyd, these discussions can either take place on this public forum, or they can continue to go on via PM. The choice is yours. Good luck to you.

Thanks estimator <EOM>

estimator, what do your charts show for the various support levels? Thanks.

I have no idea what you're talking about floyd. Can you explain?

Not quite a comparable analogy floyd, but I know what you're driving at. Well, except for the 'makes me wonder about you' part.

Canceling of commons should be discussed as new information becomes available. If I could amend my post to say that, I would. Just be prepared to discuss both positives and negatives.

We're all here for the same reason my friend. Good luck to you.

Thanks MC! I (obviously) didn't notice the distinction between the two funds...!

That's the $64,000 dollar question fisherman. He was/is closer to the company than any of the other fund managers (including Citi, imo). He knew of impending bk early on, and didn't sell a share. That's a big positive in my book.

From what I read about Peltz, he's ruthless and he HATES to lose money. I can't see him admitting defeat here.