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Are they done yet?
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Someone is hungry for shares, same old sh*t different day.
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Gizmo...ya might want to wear a helmet...LOL
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And painful...
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Thank you lunch, info much appreciated.
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So they have been keep us at 1.50. welcome aboard!!!!!
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LOL mine are starting to go brown again.
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HEY MM's, would you pretty please let this stock (MESAQ) run up to say $.75.
XOXOXO
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Some on tell him to stay until CEMJQ hits $10
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I did not realize that I have been holding my breath all this time...LOL
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OHMYGOD
Get in, sit down, shut up, and hang on!!!!
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Did I miss something...busy washing my license plate.
LOL
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April MOR is out.
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From the VSTNQ board
ANALYSIS-Investors bet on equity in bankrupt US companies
2:23 pm ET 05/21/2010- Reuters
*Bankrupt companies penny stocks soar to dollars
*Distressed investors betting on risky equity
*Investors argue they have stake but courts disagree
By Tom Hals and Caroline Humer
WILMINGTON, Del./NEW YORK, May 21 (Reuters) - Buying shares in a bankrupt company is a risky bet. But more than a handful of distressed investors are doing just that, betting the stocks will rise during the court process or that they will get a payoff from the company.
Indeed, many of these stocks -- in names such as Visteon Corp <VSTNQ.PK> , Chemtura Corp <CEMJQ.PK> and Smurfit Stone Container Corp <SSCCQ.PK>, among others -- have soared from a few pennies to a couple of dollars in a matter of months.
The investors, including well-known names like Davidson Kempner Capital Management and Aurelius Capital, are also arguing to bankruptcy court judges that they should be paid by these companies when they exit bankruptcy, saying the companies are not nearly as broken as when they limped into Chapter 11.
"It appears to be the result of an influx of capital, coming off the drought of the last two years. For a long time there was no financing. Now there's value for lots of different companies," said Robert Stark, a lawyer at Brown Rudnick LLP, who has represented equity committees in bankruptcies such as those of Oneida Ltd [UNEDA.UL] and Riverstone Networks.
Timing is of the essence, though. After the equity committee in car parts maker Visteon was denied the right to form, shares -- while still far from their lows -- fell more than 50 percent. Bankruptcy judges often deny equity committees -- partly because of the cost, but also because confirmed reorganization plans with payments to stockholders are few. (The current case of General Growth Properties Inc <GGP.N> is an exception).
But that has not stopped investors from trying to assert themselves, arguing that times are better. Shareholders have also recently asked for equity committees in the bankruptcies of Spansion Inc <CODE.A>, Regent Communications and AbitibiBowater Inc <ABWTQ.PK>.
Last year, the capital markets were all but closed, making it tough for companies struggling with weak sales in the down economy to make interest payments or replace maturing debt with new financing. Now, many companies are reporting stronger businesses this year and those credit markets have opened.
The equity fights are in a way an extension of the high-profile fights among debt investors this year. In the Six Flags bankruptcy, for example, the company went through several different plans, each one favoring a group further back in the priority for payouts as credit markets boomed. The company finally exited bankruptcy under the control of Stark Investments and other junior bondholders, but shareholders were beginning to jostle for a payment.
"If we were still in the depths of the recession, you wouldn't see any of this. It would just be obvious that there is no value for out-of-the-money debt holders or shareholders. In the old days we would see the bond holders doing this, and now we are seeing equity guys," said Barry Ridings, vice chairman of U.S. investment banking at Lazard.
VISTEON
Sometimes, just the mere presence of organized shareholders -- depending on how loud and persuasive they are -- can be enough to create a payoff in the stock price or the distribution of some warrants or equity in the company's ultimate reorganization.
"That's definitely a strategy, to buy at massively distressed levels and then fight as hard as humanly possible to be recognized and to force a recovery down into those levels of the capital structure," said Joe Stauff, an analyst with the special situations group at Susquehanna International Group. "Case in point -- Visteon."
Shares in the car parts maker took a wild ride this year as hedge funds vacuumed up shares, helping to lift its stock from around 1 cent in December to $2.03 earlier this month. (After a company files for bankruptcy, its shares typically trade over the counter on what are commonly called the pink sheets).
That rally provided a potential windfall to Davidson Kempner Partners, Brigade Capital, Plainfield Asset Management and Aurelius Capital Management, regulatory filings show. They started buying stock for as little as 14 cents in February.
Visteon shares rose 71.8 percent to $1.22 on Friday after Johnson Controls Inc <JCI.N> offered $1.25 billion for Visteon's interiors and electronics business. <ReutersLink ID='ID:nN21173863' />
A TRADING TACTIC?
In another case, Caspian Capital Advisors, which holds the preferred stock of cardboard packaging maker Smurfit Stone Container, began agitating for a shareholder committee in that bankruptcy in December.
That set off a buying spree in the common stock by funds associated with P. Schoenfield Asset Management, Fir Tree and Venor Capital Management, which spent as little as 9 cents per share and as much as 43 cents. The stock is trading at 16.5 cents, up 22.2 percent, in Friday afternoon dealings.
One lawyer in that case dismissed suggestions that shareholders use committee requests as a speculative trading strategy to drive up share prices.
"It's not a tactic," said Rachel Strickland, an attorney with Willkie Farr & Gallagher LLP, which represents preferred shareholders. "The implied trading price of the bonds is almost a billion dollars higher than what the company is saying this company is worth. It is not a handful of greenmailing hedge funds saying what it thinks this is worth." (Reporting by Caroline Humer, editing by Gerald E. McCormick)
Sweet,
Thanks for the info...keep us updated if you will>
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I am lurking too.
Hey Sparce.
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Poo,
Q's are a patience tester for sure. I had cemjq that dropped like a rock as the mm's went looking for shares, then it went back up a little slower than it dropped. FWIW.
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Poo,
Thank you for your insight and for passing on your information. You cannot be emotional about your stock picks (or at least should not).
In a Q these dips happen on a regular basis, MM's picking up shares for cheap.
I added more in the .05's to lower my average price.
Thanks,
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Poo, I cannot quite figure you out. You have contacts in the industry, yet you seem to just bash Mesaq, or your fellow Ihubbers. We are in this together trying to make money.
Are you a former employee that is just pissed off or are you here to share the DD on this board? Which is it?
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Can anybody give Chemtura the formula for flubber? We sure need a bounce...LMAO
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Turbulent, barf bag out but not used.
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Excellent news, we should get a bump from this.
Thanks stju,
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Excuse me stewardess, I won't be needing this bag now. LOL
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Whale sighted.
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My contact, the mine manager was layed off.
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10Q out.
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Doing my DD, (your post helped).
Looks like their biggest issue is their property leases, which is kinda weird.
Looking to jump in on the post Q dip.
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Thank you ne.
Good luck on this one.
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I kinda got tired of the drama, but I did enjoy your connection to other pilots and some of your insight.
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Please don't.
Damnation sub 10,000.
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I got my barf bag out.
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Was anyone aware of the claim?
TIA
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Sweet, the insurance pays. Was this claim on the radar?
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Bankruptcy or Receivership, Notice of Delisting or Failure to S
Item 1.03. Bankruptcy or Receivership.
On April 30, 2010, MiddleBrook Pharmaceuticals, Inc. ("MiddleBrook" or the "Company") issued a press release announcing that it had filed a voluntary petition for bankruptcy protection (the "Petition") under Chapter 11 of the United States Bankruptcy Code. The filing was made in the United States Bankruptcy Court in the District of Delaware (the "Bankruptcy Court"), case number 10-11485. MiddleBrook will continue to manage and operate its business and assets during the pendency of the bankruptcy case, subject to the supervision and orders of the Bankruptcy Court and in accordance with applicable provisions of the United States Bankruptcy Code.
A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
In accordance with NASDAQ Listing Rule 5250(b), on April 30, 2010, the Company notified The NASDAQ Stock Market ("NASDAQ") that it had filed the Petition. On May 3, 2010, MiddleBrook received notice from NASDAQ notifying it that, due to the filing of the Petition, trading of the Company's common stock will be suspended at the opening of business on May 12, 2010 and that the Company's common stock will be de-listed from the NASDAQ Global Market that same day, pursuant to NASDAQ Listing Rules 5101, 5110(b) and IM-5101-1. At this time, the Company does not intend to appeal NASDAQ's decision.
They will never find me....oops...gonna have to create a bill of sale.
Now about my couch.
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They did already when I paid my sales tax....LOL...ouch
(I did fudge on the sale amount)
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What happened with the congressional hearing that Chemtura was invited to?
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So where is the low going to be?
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