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4 day rule is SEC rule.
It was speculated based on last thursdays filing activity which suggested a RM has already transpired. If so they had 4 days to file the 8K. that would be today.(and its from the Ihub board not twitter)
Years, Chen never got around to fixing it. He was trying to use court to eliminate old managements shares I think, but he kept pissing of judge by not showing for hearings. He didn't get what he wanted and seems to have gotten out of the business. He was not very professional unlike Lazar
This is very tightly held, only reason we move at all is their are some flippers going for small daily gains. Behaves more like a big board stock than a pinky.
...a year of status reports...hard to get excited...
Warrants are options to buy DEN? Any conversion numbers available on those?
What happens to an OTC "Q" when the company comes out of BK and immediately becomes a new company and re-list itself on the NYX?
Case in point, DNRCQ will emerge from BK as DEN on the NYX. Does the DNRCQ entity continue to exist for Lazar to pickup?
8-K filed
Section 8 – Other Events
Item 8.01 – Other Events
Denbury Resources Inc. (“Denbury” or the “Company”) announced today that in connection with its expected near-term emergence from bankruptcy, the Company plans to change its corporate name to “Denbury Inc.” Additionally, Denbury is currently preparing to list its new common stock in the reorganized Company for trading on the New York Stock Exchange under the ticker symbol “DEN,” and expects trading in its stock to begin shortly following emergence.
About Denbury Resources Inc.
Denbury is an independent oil and natural gas company with operations focused in two key operating areas: the Gulf Coast and Rocky Mountain regions. The Company’s goal is to increase the value of its properties through a combination of exploitation, drilling and proven engineering extraction practices, with the most significant emphasis relating to carbon dioxide enhanced oil recovery (CO2 EOR) operations. For more information about Denbury, please visit www.denbury.com.
Forward Looking Statements
This Current Report on Form 8-K contains forward-looking statements that involve a number of risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission, including Denbury’s most recent Form 10-Q and its 2019 Form 10-K. These risks and uncertainties are incorporated by this reference as though fully set forth herein. The forward-looking statements contained herein are based on assumptions that management believes are reasonable based on currently available information; however, management’s assumptions are subject to a wide range of business risks, and subject to the Company’s ability to successfully re-list and begin trading on the New York Stock Exchange. There is no assurance that the Company’s expectations expressed herein can or will be met. Actual results may vary materially. In addition, any forward-looking statements represent the Company’s expectations only as of today and should not be relied upon as representing its expectations as of any future date. Denbury assumes no obligation to update its forward-looking statements.
Funny how DNRC is still an oil play...It spiked today along with my other oil plays.
Don't get shaken out in the sell off that might occur around .02. Expect many .01s to take their 100%.
CBL is still viable. Many companies were forced into bankruptcy by the CCP virus. CBL is in a position where normally they would be forced by creditors to file BK but, the lenders don't want them too because the they will lose more money. The best they can hope for is to let CBL continue managing the assets. The last thing the banks want is a bunch of half dead real estate they can't sell.
VIDA: increase in activity suggest possible front loading for a custodianship or pump. Its a failed Chen custodianship from a few years ago. failed when he irritated judge after being granted.
Simply asking for someone to convince me. Nobody here seems to have any real DD on this though.
It begs the question, why would a judge give them control over the guy contesting them? They don't appear to have any experience/history in the custodianship business.
Are you saying they are not an IT and software support company? Or you don't know?
website finally came up, thought it would say something new/different but, still says they do software.
Why does a company with an IT services website want a custodianship? Am I looking at the wrong website.
Are they changing their business? Was IT services a fail? Something doesn't smell right.
funny: as of writing this the website is as dead as their twitter account...
Important details are not making this look very good.
It is contested!
06/17/2020 12:00 PM
- Present via/video, on behalf of Petitioner Suneel Sawant and on behalf of Defendant, Arthur Bertagnolli. Court noted the content of an e-mail received from Mr. Bertagnolli. Argument in support of Petitioner's Application for Appointment of Custodian by Mr. Sawant. Court stated Mr. Bertagnolli cannot represent himself, must have counsel and inquired as to how much time is needed to obtain counsel and respond to the petition. Statement by Mr. Bertagnolli. COURT ORDERED, proceedings CONTINUED for argument, Mr. Bertagnolli will have 2 weeks to hire counsel with briefs due by July 27th, reply is due August 10th if desired. . 8-19-20 12:00 AM PETITIONER'S APPLICATION FOR APPOINTMENT OF CUSTODIAN
Acquifin is screwing up!
Minutes
08/13/2020 3:00 AM
- Pursuant to EDCR 7.42(b) a corporation may not appear in proper person. Here, Petitioner Acquifin, Inc. is appearing in proper person in violation of court rules. As a result, the hearing scheduled for August 19, 2020 is hereby CONTINUED to September 2, 2020 for the appearance of counsel on Acquifin Inc. s behalf. 9-2-20 12:00 PM Petitioner's Application for Appointment of Custodian CLERK'S NOTE: The above minute order has been distributed via e-mail to: Suneel Sawant. kar 8/17/20
Acquifin requested delay, not the court
Minutes
08/28/2020 3:00 AM
- At the request of petitioner the proceedings are continued to September 16, 2020.
XLPI was contested by old/new management so Lazar dropped it. Wouldn't call it a fail, I made money...
No, he isn't. Thats Acquifin(whatever that is, dead twitter, unrelated website)) Lazar does not work with others. Lazars company is "Custodian Ventures" his lawyer is Peter Chasey.
I haven't really followed Zhang. I think his history is only one or two attempts at this though. DRGV might be his third maybe.
Oct 10 I think.
No, that's Harry Zhang. Lazar uses a lawyer (peter Chasey), Zhang is self representing and having issues because of that.
I see, over 10% have to file quickly. Did anyone qualify for that?
They only have to file 13D at end of quarter? Thought it was more time restrictive than that.
How many of those institutions would have had to file if they unloaded their holdings? Thats the filing you need to find.
...and it helps keep you off the SEC's suspension list...Lazar has lost at least one to that this year. Doubt he would spend the money if he didn't think it would pay him back later.
Being current on OTC is good, being current with SEC is better and in many cases, critical for for future goals of potential RM candidate.
Like the difference between selling a VW Passat and an Audi A4. Their both VW's....
CBL has some recent history with after market runs as shares are shifted around behind the scenes. This weeks post market run was followed by several reports issued by CBL today.
Retail shares won't trade post market so it doesn't mean much by next morning.
The only real difference between a SPAC and a Custodianship is that one is created with a specific intent and the other is acquired with the same intent. The intent being to become a publicly traded entity and make gobs of money.
Or Zhang missed deadline to submit requested data...lawyers are useful...
I got tickets for both, but I like the SS here better. PFWIQ is likely to do as well as the other and is cheaper to enter right now.
Nothing to hear until Lazar does something with it. He has been fairly busy with some others lately.
His 4 last court cases are not motions for custodian. Not sure what he is doing.
Yes, and the delay was by request of the Plaintiff, not the court(not CCPVirus related).
I don't see any evidence that grassroots/Disanti make public their plans for custodianships. So there is nobody to ask. If you call their office they should kindly tell you they have nothing to tell you. If they have anything to tell you then they will refer you to where ever they disseminate publicly available information. To tell you personally would be illegal.
We only know of their interest in TAMG because court records are public.
They have a twitter link but its dead.
Synergy promote their activities with public statements on twitter(the legal way to do it) You would need to see if Disanti/Grassroots Advisory do something similar. A contact person is pointless as its illegal for them to talk to individual investors. people who make claims of making phone calls and emailing CEOs(and getting a response) are either full of poo-poo or the CEO is a scam artist.
https://www.grassrootscorp.com/consulting
If its a custodianship, then its an empty shell and doesn't have any depts. and no budget or employees to man them.
Only thing that make sense is they want to go public themselves and thought this was easier than just calling a professional like Lazar or Synergy.
Sell to a client? They make IT software according to their website. Why would someone go to them to buy a shell corp?
Would you go to McDonalds to buy a used car?
Probably lost a few quik flippers this week. Welcome to those who bought their shares...