Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
19 k just went off at 17. 1 left at 17 1@.174 2@.20 Awesome day today. I would be happy with a close today at .16-17 but it looks like we might get a little push towards the end of the day. A pr today about a symbol change would be nuts
Hi Lucy, I think FVRL is going to be a beast because of the stimulus plan. Check out the fvrl board run by Rainmaker, lots of great dd on it. Check out the board for the full and complete rundown. I think you will be impressed.
Hi Street, I am interested but I cant pm. nvjohnny25@yahoo.com is the email address. TIA
Thanks for the clarification. Like I said I was just checkin out the site and that came up under the ticker symbol.
Q4 Earnings Release:
Not sure if this has already been discussed or not. I was just looking at my TDA account and noticed that under the fvrl that there was an upcoming event scheduled for FVRL. It states taht on Feb 16 that FVRL will be releasing there 4th qt earnings.
Rain, could it have to do with any type of patents that might be pending that they dont want the world to know about yet.
Recognizer, not sure if this would help you out or not but I was having the same problem with my L2. It would only show one mm and was not acting right. My l2 is provided by alphatrade by the way. Anyways in my ticker box i typed in FVRL_V and it came up with all the mm's, as well as the current b/a. Hope this helps.
Rain, I haveto admit, I read through that 8k as much as I could and a lot of it is written in a different language for me. Can you break down what you see. I will say that a bit of exciting news for me was towards the bottom of the 8k. It talks about that on the 9th of this month that the new name will be offical but that we will keep the same ticker until they get the clearance to change it.
New 8k out for FVRL
http://biz.yahoo.com/e/090202/fvrl.ob8-k.html
Thanks Argyll. I think I had a pretty good idea of what I was getting into before I purchased and aware of the timelines that you pointed out. Like I said the best dd i could have done in terms of being a shareholder was to read this board. I read the articles and read over the many pages of dd done on this board. While I am aware that mergers dont always happen, I was fairly confident that it would. My confidnece was inflated after reading this board. The boards confidence led to my confidence. With everything you mentioned in your post it really brings it to the fore front that this company is extremely undervalued. Its almost comical.
Thanks for the response. Your post makes perfect sense. I guess if I was not aware of the this board and was just looking at fvrl as a company on its own, I probably wouldnt be to interested. I will say though that I was aware of FVRL because I used to invest in a company (abpi) that was a competitor of there's. All i remember reading about fvrl from that time was that they were going out of business because there drug at the time didnt meet certain endpoints. Then one day I was reading some posts on other boards and FVRL came up. That led me to another page that led me to another page that led me here. Then I saw that Rainmaker was apart of it and started to read up. Like you said, most people probably just look at fvrl the way I used to look at it and they really dont know whats going on now. There mistake is our good fortune.
Rainmaker,
To start off I have to say that I am a follower of yours. Since I joined I hub your site was one of the first that I bookmarked. I appreciate all the hard work that you do, it really helps the rest of us make informed decisions. That being said, I must admit that I dont quite understand everything in terms of this company and was hoping that you could help out a fellow ihuberrrr. To me it seems that either the market doesnt believe in the fvrl story or they just dont know about it. I see these great press releases that they have put out, the google partnership being one and I just dont understand why we are where we are. I look at it as a blessing because I took an intial stake in the company and have been adding on these dips whenever I can but am I missing something. Is there anything out there that is still in the air the is keeping the rest of the world on the sidelines. With the merger being complete, whats next in line, whats the next catalyst the will propel this company?
I have seen all the insider numbers that you and the rest of this board have been putting up on the site and obviously its great. Question being, is there any kind of quiet period that the company might be under that would prevent them from buying right now or are they free to do what they like. I think thats all i got for now, but I will say that I believe that we are all sitting on a volcano here. I think we are truly on the ground floor here and by the time the rest of the market catches up we are going to be much higher then we are today. While they play catch up at the 50 cent,1 dollar, 2 dollar etc, we will be sitting on 2 cent, 5cent, 12 cent shares and laughing all the way to the bank. Thanks again Rain and the rest of the board, you guys should really get paid for all the great work you do here.
WOW, son of gun, it worked. L2 is up and running perfectly. Now I get to watch the fireworks. Thanksssssssss
I got in a about a week ago and have just been lurking here. There is so much great dd here that I feel out of place even adding in my 2 cents. I'll just stay quiet and enjoy this ride. For whatever reason my alphatrade l2 doesnt show the updated b and a on fvrl so I only see the last sale price so I dont get to see my L2 go crazy. O well, good luck to everyone.
MyMedicalRecords, Inc. and Favrille, Inc. Close Merger
Wednesday January 28, 2009, 9:04 am EST
Yahoo! Buzz Print Related:Favrille Inc.
COMBINATION TO PROVIDE BROADER ACCESS TO INVESTMENT COMMUNITY AT AN EXCITING TIME IN INFORMATION MANAGEMENT IN THE HEALTHCARE INDUSTRY
Related Quotes
Symbol Price Change
FVRL.OB 0.12 0.00
{"s" : "fvrl.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""} LOS ANGELES, Jan. 28 /PRNewswire/ -- MyMedicalRecords, Inc. ("MMR"), a company that uses its proprietary technology to offer products that facilitate consumer access to medical records and vital documents, and Favrille, Inc. ("Favrille") (OTC Bulletin Board: FVRL.OB - News) today announced completion of the previously-announced merger that makes MyMedicalRecords a wholly-owned subsidiary of Favrille. Current MMR President and CEO, Robert H. Lorsch, will lead the combined company (the "Company") as Chairman, President and CEO. The headquarters of the Company will now be in Los Angeles, California, and the Company will also now conduct all business under MyMedicalRecords' brands and identity. The Company intends to promptly change its legal name to "MMR Information Systems, Inc.," and until a new trading symbol is obtained, will continue to trade on the OTC Bulletin Boards under the symbol "FVRL.OB."
As a result of the merger, the Company ceased being a shell-company and will now focus on building and developing its online record storage service for Personal Health Records, MyMedicalRecords PHR, and its new product, MyEsafeDepositBox, which offers consumers a system for storage and management of personal and financial records in addition to medical records using the same patent-pending proprietary technology that supports the MyMedicalRecords PHR. Built on an integrated Internet/fax/voicemail platform, these products offer a secure, easy-to-navigate, digital record system, allowing users to safely store, file and manage medical records and other vital documents (such as passports, living wills, birth certificates, advance directives, insurance policies and financial records), giving consumers and healthcare professionals the ability to create and access a PHR or electronic safe deposit box 24 hours a day from anywhere in the world using the Internet.
The Company is also working on its MyMedicalRecords Pro service, which is designed to offer physician's offices a cost-effective solution for digitizing paper-based medical records for both back-file and day forward electronic documentation, and intends to complete product development and launch by the end of the fourth quarter of 2009.
"We believe the business combination gives MMR broader access to the investment community, which should accelerate the Company's continued growth," said Lorsch. "President Barack Obama has said that his administration will 'make the immediate investments necessary to ensure that, within five years, all of America's medical records are computerized. This will cut waste, eliminate red tape and reduce the need to repeat expensive medical tests. But it just won't save billions of dollars and thousands of jobs; it will save lives by reducing the deadly but preventable medical errors that pervade our health care system.' In light of these statements, we believe that the United States is at a major turning point with respect to information management within the healthcare industry. Further, we believe that giving consumers the ability to maintain their most important records, their healthcare records, in a secure online system that they control is the way of the future. Because our MyMedicalRecords PHR provides the ability to get plain paper records into an online PHR account without the need for expensive hardware or software, and accepts records from all types of providers, we believe that the Company is well positioned to address these needs."
"We believe that the combination of Favrille and MMR offers our creditors and stockholders the best available outcome," said John P. Longenecker, former President and CEO of Favrille. "In addition, we look forward to a successful future for the Company given the value in making Web-based electronic Personal Health Records as much a part of everyone's life as electronic banking."
Merger Overview
For legal purposes, Favrille is acquiring MMR although the combination will be accounted for as a reverse acquisition with MMR deemed to be the "acquirer" for accounting and financial reporting purposes. As consideration in the business combination, Favrille has issued (or reserved for issuance) 92,599,196 shares of its common stock to former shareholders (and option holders and warrant holders) of MMR. After closing the merger and on a fully diluted basis, the former holders of MMR's equity now own (or have the right to acquire) approximately 60% of the Company's equity.
As contemplated by the merger agreement, Robert H. Lorsch, Hector V. Barreto, Jr., David A. Boyden, Douglas H. Helm, George Rebensdorf, Bernard Stolar, and Jack Zwissig will serve as the Directors of the Company, with Robert H. Lorsch serving as Chairman. Robert H. Lorsch will also serve as CEO and President and Naj Allana will serve as Chief Financial Officer.
John P. Longenecker, Ph.D. has resigned as President and CEO of Favrille and Tamara A. Seymour has resigned as CFO and Secretary of Favrille. Both have agreed to serve in a transition role during the integration of the companies, after which time each will resign from the Company.
In addition, as contemplated by the merger agreement, the transactions contemplated by the Company's Creditor Plan were entered into, including the issuance to creditors of Favrille of warrants to acquire up to 10,000,000 shares of common stock at an exercise price of $0.12 per share as contemplated by the Creditor Plan.
The Board of Directors of Favrille, Inc. also announced today that it intends to retain the investment banking firm Houlihan Smith & Co. to provide financial advisory services. Joseph Lunkes, Senior Managing Director at Houlihan Smith, stated, "The MyMedicalRecords Personal Health Record system is designed to appeal to both individuals and their physician practitioners. It addresses the growing interest in organizing consumer health information and recent and anticipated federal legislative mandates. We believe in the strength of their business plan and look forward to lending our financial experience and expertise to the Company's management and Board."
MyMedicalRecords, Inc. and Favrille, Inc. Close Merger
Wednesday January 28, 2009, 9:04 am EST
COMBINATION TO PROVIDE BROADER ACCESS TO INVESTMENT COMMUNITY AT AN EXCITING TIME IN INFORMATION MANAGEMENT IN THE HEALTHCARE INDUSTRY
Related Quotes
Symbol Price Change
FVRL.OB 0.12 0.00
{"s" : "fvrl.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""} LOS ANGELES, Jan. 28 /PRNewswire/ -- MyMedicalRecords, Inc. ("MMR"), a company that uses its proprietary technology to offer products that facilitate consumer access to medical records and vital documents, and Favrille, Inc. ("Favrille") (OTC Bulletin Board: FVRL.OB - News) today announced completion of the previously-announced merger that makes MyMedicalRecords a wholly-owned subsidiary of Favrille. Current MMR President and CEO, Robert H. Lorsch, will lead the combined company (the "Company") as Chairman, President and CEO. The headquarters of the Company will now be in Los Angeles, California, and the Company will also now conduct all business under MyMedicalRecords' brands and identity. The Company intends to promptly change its legal name to "MMR Information Systems, Inc.," and until a new trading symbol is obtained, will continue to trade on the OTC Bulletin Boards under the symbol "FVRL.OB."
As a result of the merger, the Company ceased being a shell-company and will now focus on building and developing its online record storage service for Personal Health Records, MyMedicalRecords PHR, and its new product, MyEsafeDepositBox, which offers consumers a system for storage and management of personal and financial records in addition to medical records using the same patent-pending proprietary technology that supports the MyMedicalRecords PHR. Built on an integrated Internet/fax/voicemail platform, these products offer a secure, easy-to-navigate, digital record system, allowing users to safely store, file and manage medical records and other vital documents (such as passports, living wills, birth certificates, advance directives, insurance policies and financial records), giving consumers and healthcare professionals the ability to create and access a PHR or electronic safe deposit box 24 hours a day from anywhere in the world using the Internet.
The Company is also working on its MyMedicalRecords Pro service, which is designed to offer physician's offices a cost-effective solution for digitizing paper-based medical records for both back-file and day forward electronic documentation, and intends to complete product development and launch by the end of the fourth quarter of 2009.
"We believe the business combination gives MMR broader access to the investment community, which should accelerate the Company's continued growth," said Lorsch. "President Barack Obama has said that his administration will 'make the immediate investments necessary to ensure that, within five years, all of America's medical records are computerized. This will cut waste, eliminate red tape and reduce the need to repeat expensive medical tests. But it just won't save billions of dollars and thousands of jobs; it will save lives by reducing the deadly but preventable medical errors that pervade our health care system.' In light of these statements, we believe that the United States is at a major turning point with respect to information management within the healthcare industry. Further, we believe that giving consumers the ability to maintain their most important records, their healthcare records, in a secure online system that they control is the way of the future. Because our MyMedicalRecords PHR provides the ability to get plain paper records into an online PHR account without the need for expensive hardware or software, and accepts records from all types of providers, we believe that the Company is well positioned to address these needs."
"We believe that the combination of Favrille and MMR offers our creditors and stockholders the best available outcome," said John P. Longenecker, former President and CEO of Favrille. "In addition, we look forward to a successful future for the Company given the value in making Web-based electronic Personal Health Records as much a part of everyone's life as electronic banking."
Merger Overview
For legal purposes, Favrille is acquiring MMR although the combination will be accounted for as a reverse acquisition with MMR deemed to be the "acquirer" for accounting and financial reporting purposes. As consideration in the business combination, Favrille has issued (or reserved for issuance) 92,599,196 shares of its common stock to former shareholders (and option holders and warrant holders) of MMR. After closing the merger and on a fully diluted basis, the former holders of MMR's equity now own (or have the right to acquire) approximately 60% of the Company's equity.
As contemplated by the merger agreement, Robert H. Lorsch, Hector V. Barreto, Jr., David A. Boyden, Douglas H. Helm, George Rebensdorf, Bernard Stolar, and Jack Zwissig will serve as the Directors of the Company, with Robert H. Lorsch serving as Chairman. Robert H. Lorsch will also serve as CEO and President and Naj Allana will serve as Chief Financial Officer.
John P. Longenecker, Ph.D. has resigned as President and CEO of Favrille and Tamara A. Seymour has resigned as CFO and Secretary of Favrille. Both have agreed to serve in a transition role during the integration of the companies, after which time each will resign from the Company.
In addition, as contemplated by the merger agreement, the transactions contemplated by the Company's Creditor Plan were entered into, including the issuance to creditors of Favrille of warrants to acquire up to 10,000,000 shares of common stock at an exercise price of $0.12 per share as contemplated by the Creditor Plan.
The Board of Directors of Favrille, Inc. also announced today that it intends to retain the investment banking firm Houlihan Smith & Co. to provide financial advisory services. Joseph Lunkes, Senior Managing Director at Houlihan Smith, stated, "The MyMedicalRecords Personal Health Record system is designed to appeal to both individuals and their physician practitioners. It addresses the growing interest in organizing consumer health information and recent and anticipated federal legislative mandates. We believe in the strength of their business plan and look forward to lending our financial experience and expertise to the Company's management and Board."
About MyMedicalRecords, Inc.
MyMedicalRecords ("MMR") provides secure and easy-to-use Web-based storage solutions, serving consumers, healthcare professionals, employers, insurance companies, unions and professional organizations. Seeking to empower consumers to have greater control over their health and well-being, the Company facilitates access to medical records and other important documents, such as living wills, birth certificates, passports, advance directives and insurance policies, anytime from anywhere using the Internet. The Company's principal product, the MyMedicalRecords PHR service, accessed through http://www.mymedicalrecords.com/, is built on proprietary patent-pending technology that enables users to transmit documents, images and voicemail messages in and out of the MyMedicalRecords PHR system using a variety of methods, including fax, e-mail, phone, and file upload without relying on any specific electronic medical record platform to populate a user's account. Users and medical providers can fax paper records (such as laboratory tests, radiology reports and physician's notes), or scanned images can be uploaded, into a secured personal account, which the user can access and organize as necessary, including filing particularly sensitive documents in virtual lockboxes protected by secondary passwords, and designating certain records as accessible to medical personnel and first responders by way of a separate Emergency Login. The Company also offers its MyEsafeDepositBox service, available at http://www.myesafedepositbox.com/, which is designed to provide secure online storage for vital financial, legal and insurance documents in addition to medical records using the same patent-pending technologies that drive the MyMedicalRecords PHR service. In its final stages of development, the Company's MyMedicalRecords Pro service is designed to give physician's offices a cost-effective solution to the costly and time-consuming problem of digitizing paper-based medical records. Additional information regarding the Company's business and its products, including trial accounts, is available at MMR's Website at www.mymedicalrecords.com. Information on the Company's Website and MMR's Website is not incorporated by reference into this press release.
About Houlihan Smith & Co.
Houlihan Smith & Co. is an investment banking firm that provides advisory, mergers and acquisition, corporate finance, valuation, fairness and solvency opinion services to some of the largest NYSE/NASDAQ companies, as well as small, privately-held businesses. Houlihan is a registered broker-dealer and FINRA/SIPC Member. For more information visit www.houlihansmith.com or call 312-499-5900.
Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, statements regarding the Company's name and products, the current state of information management within the healthcare industry, the Company's access to the investment community, and the continued listing or trading of the combined company's common stock on the OTC Bulletin Boards, including its trading symbol. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to the risk the Company's products are not adopted or viewed favorably by the healthcare community, risks related to the current uncertainty and instability in financial and lending markets, risks related to the trading status of the Company's common stock on the OTC Bulletin Boards, risks relating to the Company's ability to negotiate settlements with creditors, and additional risks discussed in the Company's filings with the Securities and Exchange Commission. The Company will also be subject to a number of risk and uncertainties, including risks relating to the need to have access to additional capital to finance the business until it can generate sufficient cash flow from operations and risks relating to the adoption of personal health care records and the development of a viable revenue generating business model. All forward-looking statements are qualified in their entirety by this cautionary statement. The Company is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
Good Morning Fast, have you heard anything else from the investor relations people.
Good morning all. So far so good. L2 is pretty thin on both sides. Watching like a hawk
Hi Z,
What can we really expect out of tomorrow. Isnt there a chance that this could just be some regular court proceeding or are we expecting to hear something concrete on way or another.
I think the main reason it tanked on Friday was because of the press release. In the pr there was a line that really stuck out that talked Landamerica disposing of the rest of its businesses. That language without any clarification scared some people off. That being said, while the stock price went down 30 percent, in terms of people selling there shares it was pretty minimal. The pr came out at 2:00 so people had plenty of time to dump. Instead 1.6 million shares were traded. And while I dont know for sure, i bet we had traded 700k prior to the pr. There is some great dd on this company on this site. Fast flyer and vlftraders among others have a much better understanding of this company and its assests. Definetly worth the read if your going to invest.
I think I know what Fast Flyer would say, so I'll give it a shot. They are not filing for bk. They are in Chapter 11 protection. Landamerica and the plaintiffs have come to an agreement that would prevent any further court proceedings. That being said, im not sure if the shares would be canceled or not but since your post has to do with full on chapter 11, I dont think canceling shares fits with landamerica's program. They are not in chapter 11 so I dont think it applies. Again i could be wrong, thats just how I see it.
I know its hard Fast but there is a lot of confusion out there. It scares off investors when Landamerica releases a statement about 85 percent of the company was sold off and that they are looking to get rid of the rest of the company. It brings up a lots of questions and even more fear. I for one appreciate that every now in then you come in to bring to light what is reality and what is just speculation. I am hoping for the best and I think in the near future we will all know where we stand. Thanks.
That I have no clue. I am new to this whole Q world so I would hope someone with more knowledge could help you out with that. But you do bring up an interesting point.
This was the motion that I have been lookin for. Credit to Vlftraders. Now the motion is real and its not an opinion. This is what the Landamerica and its plaintiffs agreed on. Now again my question is, if you have Landamerica and the plaintiffs agree to take care of the complaints then why in the world would Landamerica file for chapter 7. They had fidelity buy out some divisions and the debt. Now they are left with whatever is left and they want to sell. If they had anyone else going after them for money then how come we dont know about it. I could be wrong but I think that everyone that is after them for money is apart of this complaint that both parties have agreed to settle on. To me that means that Landamerica is free and clear to do whatever they want. Which means sell the companies, which means x amount of dollars x's 15million shares.
FOR NEWBIES/FILING MOTION FOR MONDAY...........
It basically says that the commitee of
plaintiffs and Landamerica have an
agreement to take care of all the
complaints and avoid anymore litigation.
If they get get everyone to agree to it
on Monday, then they can discharge the
bankruptcy in short order compared to
handling each case one by one.
Credit to cantgetmyname for finding this...
Simplified...
The issues raised in the Adversary Proceedings
Procedures Order were discussed at length during
the Procedures Hearing. Moreover, there is an
immediate need to establish appropriate procedures
to deal with the multitude of adversary proceedings
that have been commenced. The Court recognized
this need at the Procedures Hearing and directed
the Debtor and the Committee to develop an agreed
process, hopefully by year end, if possible, or
early January. The Debtor and the Committee now
have agreed on an appropriate process. For
these reasons, LES is simultaneously filing a
motion for expedited hearing requesting that the
Court hold a hearing on the Motion on
January 12, 2009.
During the Procedures Hearing, the Court
indicated its interest in establishing a
“procedure that is streamlined,” “some
procedure that will allow us to expedite
[these cases] in . . . some sort of a
way that we can resolve all of these
issues.” Hr’g Tr. recorded by electronic
sound recording) at 43, 48. The Court
further requested the Debtor and the
Committee to meet and confer to establish
a protocol for handling the adversary
proceedings on an expedited test-case basis.
WHEREFORE, LES and the Committee respectfully
request that the Court enter an order,
substantially in the form annexed hereto,
granting the relief requested in the Motion
and such other and further relief as may be
just and proper.
UNITED STATES BANKRUPTCY COURT
FOR THE EASTERN DISTRICT OF VIRGINIA
RICHMOND DIVISION
Dated: Richmond, Virginia
January 7, 2009
VLF
This post is very important because what exactly has changed. Does this letter to the agents seize to exist. I think not. Landamerica knew exactly what it had left when it sold to fideltiy and these still released this letter. I think the price drop was very exaggerated. After all there was only 1.6 million traded and shareholders had enough time to get out
Hi vlftrades, is there any way of putting up those motions that I have seen up. I dont know where they are at in the post count. But I think they have to do with Landamerica and its plaintiffs agreeing on dissolving the chapter 11 protection.
Hi z, what did she say. Whats your take on all of this.
From what I understand insiders cant sell shares while a company is under bk proceedings. Please correct me if I am wrong. On top of that you have the original longs who are not excited about 10-15-20 cents for there multi dollar shares. If what is being discussed on this board is true and somehow they went to chapter 7, believe me the original longs would hold and and see if there was some kind of deal struck where shareholders would get money for there shares. If you own this a 5 bucks are you really going to care if you get 15cents. No you will wait it out and say my only chance is to see if we can get something out of this deal through the chapter 7. There are only 15 million shares availabe. If another company came to Landamerica and said, LandAmerica we want to buy you for 5 bucks a share and we are going to take on your other debt, I dont think legally Landamerica can say yeah thats a great deal, but dont pay us for our shares, just cancel those, we want the money for ourselves. Again correct me if I am wrong but I believe in a buyout and doesnt include chapter 7,11, whatever, just in a straight up deal, that the shareholder get there shares bought out.
Fast I got your pm's and I think we are on the same page. I really dont know how to play this one to be honest. I am going to assume that there is going to be somewhat of a sell off on Monday. I dont thinks its justifed just yet. One part of me says to sell Monday, wait for the dip and add to my stack. The other part of me says to hold, just wait it out until Monday after hours to make a decision because we should no where we stand at that point. If I made the right decision then I will be rewarded. If I go with option 1 and try buying back Tuesday morning then I might have made the right decision to sell out because of bad news or I made the wrong decision because I will be chasing the ask to maybe get half the shares I started with.
This quote came from a link that money had in a previous post.
"If a company is successful in chapter 11, it will typically be expected to continue operating in an efficient manner with its newly structured debt. If it is not successful, then it will file for chapter 7 and liquidate. In both instances, common shareholders will most likely see little (if any) return on their investments. "
Now the thing is that Land never filed for chapter 11. They just filed for chapter 11 protection. They are now asking to be released from it because of the fidelity deal. One would presume that the fidelity deal took care of there debt. It wouldnt make much sense to get out of chapter 11 protection if you still needed to be protected. It doesnt make sense to file for chapter 7 if you chapter 11 protection was succesful. To me it sounds like they made it out of chapter 11 protection and they have some money left over. They figure that they dont want to continue business with whats left, so they want to sell the remaining portions.
I dont understand bk's and everything that surround it so I would be interested in your opinion on my the following question. Would it make much sense to for Landamerica to ask to be released from the chapter 11 protection just to file for chapter 7. If I remember correctly wasnt there a motion filed that said that Landamerica and the people wanting money from them came to an agreement and that any further wouldnt need to be necessary. Why would everyone agree to this and then Landameria file for chapter 7.
Okay Fast we meet again. Just came home and saw the news for the day. Seems like there was somewhat of a sell off in terms of the price going down and not neccessarily volume to go with it. Not sure what to make of that. Seems like Landamercia put some fear in the air with the sentence that talked about disposing of the rest of the divisions. Can you go into this at all. Reading the posts I was happy to see that of you of the longs here talked to people at Landamerica and that this idea of a buyout is in the works. Can you go into this at all. Last but not least, if there is a buyout and they have a buyer ready to go, does landamerica need to get through the bankruptcy preceddings first. In other words could a buyer come to landameria while they are in bk protection and say, I want to buy you and here is my price. Or does landamerica need to get out of protection first. If they need to get out of protection first and if what the previous poster said is true ( about taking months, years to get out of bk) then wouldnt it throw the idea of a buyout out the window because what other company is going to wait around for years to buyout LandAmerica. As always fast, any help you know is greatly appreciated. Thanks.
"basically says that the commitee of
plaintiffs and Landamerica have an
agreement to take care of all the
complaints and avoid anymore litigation.
If they get get everyone to agree to it
on Monday, then they can discharge the
bankruptcy in short order compared to
handling each case one by one"
If this is the case in this situation my question is, is there any reason that the judge would turn Landamerica's request. This statement basically tells me that Landamerica and the other companies trying to get money out of them have agreed to take care of there problems outside of the court. So the court isnt needed anymore. In a perfect world wouldnt the court just say " Okay guys you have come to an agreement on abc and d so get out of my courthouse."
Hi Fast, just got home from work and noticed all the posts today. Looks like a down day but from reading this board it looks like we got some good news. I read over all of todays posts especially 3563 and if I am reading it correctly did Landamerica ask the courts for the dismissal of the chapter 11 protection because it isnt needed anymore. Could you help me understand this a little more. Am I missing anything. Your always great for breaking down this stuff and helping me understand it. Feel free to pm if you would like. Also one last thing, if what i read was correct then shouldnt we have huge day tomorrow or is it one of those things that everyhing has to be set in stone before the puppy takes off. TIA
I figured. Big wall at 24
Who gets to trade this pre market. 2 trades 1 at 23 1 at .218. The bid and ask moved up 2@23 x 1@.235
Thats gonna be an awesome day. Right now we can only wonder about what will happen when and if the q gets dropped. But like I said in the past, with or without the q, this is a solid billion dollar company tradiing in the pennies. As soon as Landamerica goes through the proper channels to get there business restored to the way it was before the q was applied, there is no reason why it shouldnt trade the way it used to. Now I wont be the guys that says this thing is going to 10bucks,20,30, etc, but I will say that I think everyone knows that this is waaaaaaaaaay undervalued. This was trading in the multiples not to long ago.
OCT 3- 22.57 OCT 31 9.85
NOV 3 7.86 NOV 28 .20cents
Since then it has traded in the penny range.
Now i wasnt around this board when the company really started to tank but I think its obvious that it started to tank when the chapter 11 protection was announced. The trading public obviously overreacted and it was our good fortune to be able to see the light at the end of the tunnel. (thanks flyer) Point being, once the chapter 11 protection is lifted and the q gets dropped eventually, why wouldnt it get back to its previous levels. In a sense, this company is actually better off today then it was trading in the 20 dollar range. The reason is because at that time they had lots of debt. Today, fidelity paid them 235million and took the debt off there hands. Needless to say this should be a fun ride. IMO, good luck everyone.
Kind of crazy considering where we were at just a few weeks back. I could literally read through all the posts in about an hour and there were 20 bookmarks. 40 percent a day will do that I guess.
This is great. I leave to jury duty and we are at 18 and i come home and we are at 24-25's. I'll take 40 percent everyday.
1@17.5 x 3@18