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CUR Interesting setup we have here on this one Float should be around 700K They just did a 20 for 1 Reverse Stock Split this after doing a Previous 13 for 1 reverse stock split so lets do some math 1000 shares now would be like previously owning 260,000 Shares 1000*20*13=260,000 These reverse stock splits has reduced the total float down next to nothing Now they did do a stock offering BUT that was a private placement of shares and warrants stock got slammed on that news however if they was smart they would come in and buy up the remaining shares of the tiny float just because they got the stock offering completed doesnt mean that those guys have to sell those shares that would leave the tradeable float at 700K ALSO As mentioned on this board there was VERY HEAVY INSIDER BUYING 2 Months ago... prior to the reverse stock split... even tho they knew that the financing was coming this does a few things first raises much needed Cash also this is a LOW FLOAT Bio Tech Stock SO any positive news or data from the companies pipeline of drugs Small non existant Float because look at the volume since the stock offering its traded no wheres near what the stock offering was however its traded what the previous float was and then some...
Currency in USDDownload Data
Date Open High Low Close* Adj Close** Volume
Aug 27, 2019 1.5700 1.7500 1.5300 1.6100 1.6100 51,961
Aug 26, 2019 1.7400 1.7400 1.6000 1.6700 1.6700 22,300
Aug 23, 2019 1.7600 1.8000 1.6000 1.6600 1.6600 60,000
Aug 22, 2019 1.8600 1.9300 1.7300 1.7500 1.7500 54,700
Aug 21, 2019 1.9200 1.9700 1.8400 1.8800 1.8800 155,100
Aug 20, 2019 1.9000 1.9800 1.7100 1.9200 1.9200 54,900
Aug 19, 2019 1.9000 1.9600 1.8200 1.9000 1.9000 50,800
Aug 16, 2019 1.7200 1.8900 1.6500 1.8200 1.8200 37,900
Aug 15, 2019 1.9900 1.9900 1.6200 1.7300 1.7300 87,100
Aug 14, 2019 2.0300 2.0400 1.9000 1.9900 1.9900 75,600
Aug 13, 2019 2.1500 2.1700 2.0300 2.0700 2.0700 50,700
Aug 12, 2019 2.1300 2.1500 2.1200 2.1200 2.1200 60,900
Aug 09, 2019 2.1800 2.1800 2.1200 2.1500 2.1500 31,200
Aug 08, 2019 2.1500 2.2000 2.1200 2.1800 2.1800 65,000
Aug 07, 2019 2.1700 2.2300 2.1300 2.1500 2.1500 129,400
Aug 06, 2019 2.1500 2.1800 2.1400 2.1800 2.1800 64,800
Aug 05, 2019 2.1700 2.1800 2.1400 2.1800 2.1800 43,300
Aug 02, 2019 2.1900 2.2000 2.1200 2.1800 2.1800 80,800
Aug 01, 2019 2.1800 2.2200 2.1100 2.1500 2.1500 178,500
Jul 31, 2019 2.2400 2.2400 2.2000 2.2000 2.2000 175,600
Jul 30, 2019 2.2100 2.2500 2.2000 2.2200 2.2200 183,500
Jul 29, 2019 2.3500 2.3600 2.0900 2.2000 2.2000 349,500
Jul 26, 2019 2.4100 2.4400 2.2200 2.3900 2.3900 802,800
Jul 25, 2019 4.4000 4.9900 3.6500 3.7200 3.7200 293,500
Jul 24, 2019 4.6000 6.2500 4.4500 5.0000 5.0000 472,800
Jul 23, 2019 4.7500 4.7500 4.2500 4.5500 4.5500 171,100
Jul 22, 2019 5.2500 5.7400 4.5100 4.8500 4.8500 302,700
Jul 19, 2019 8.0000 8.4700 5.2800 5.9000 5.9000 484,300
Jul 18, 2019 8.0000 9.8900 7.5400 8.5000 8.5000 482,300
Jul 18, 2019 20/1 Stock Split
Comes out to nearly 5 Million in volume since the reverse stock split however keep mind the tradable float to the public still is 700k assuming no one has sold any shares from the private placements
making this extremly low float
heavy insider buying 2 months ago...
They also bought at much higher prices then where the stock is currently trading at
The chart is setup perfect
http://schrts.co/HWjQZEEa
Look at the chart then go back to the 18 November December look at that setup then go down to where the stock is currently at today see the setup?? keep in mind 700K Float any positive news or data on there drugs virtually no float if they have came in and bought up the tradeable float and held there offering shares tight we had this same setup 6 months ago on BPTH
http://schrts.co/ceRAherJ
19 Febuarary March under 2$ to 73$ same setup
as mentioned before 10,000 shares today 1/70th the Float
10,000*20*13=2.6 Million Shares previous reverse stock splits keep in mind this company has done 2 reverse stock splits in a very short period of time....
Hey ClayTrader I just went short 2000 shares of JMU Thinking about adding to my short posistion what is your thoughts? thanks seen where some idiot took a 48% stake in the company stock just keeps going down
With all the insiders buying a lot of shares, how do you guys feel about the reverse split? Do you want it? Are you for or are you against it?
John Timberlake
We are for it. The management is for the reverse split. Our primary objective, obviously, is to maintain our qualification for NASDAQ so it's critical I think for all shareholders. So that is the primary driving force to do that.
Joseph Marino
only part of the entire conference call that i found interesting
https://seekingalpha.com/article/4262911-valeritas-holdings-inc-vlrx-ceo-john-timberlake-q1-2019-results-earnings-call-transcript?page=6
also they have done 2 reverse stock splits why not the effective current split ratio is 160 to 1. One 8 to 1 and one 20 to 1
That means that shareholders have been reduced down to around 1 penny per share take 2.40/160=.015
Company has HUGE Contracts and demand for its products and services plus this New CEO dont sound like no quiter to me he sounds like a winner they can recall there employees and get back to work at ANY Time someone is buying wonder if hes loading up dirt cheap then comes in and turns this company around talk about EPIC Seen it before KBIO Bankrupt 30 cents to 40$+ its rare but it CAN and DOES Happen risk what 2 cents vs potential upside reward gotta risk it to get the biscut folks
ENSC Simliar Company trading at 2 Cents check there techonology out and Huge Contracts https://finance.yahoo.com/news/ensync-energy-install-residential-energy-120300495.html
and DD This New CEO he sounds like a winner
https://finance.yahoo.com/news/ensync-energy-systems-receives-notice-010000977.html
Wonder if that CEO is buying?? could be insider buying down here he CAN Turn this company around folks DD the CEO he doesnt sound like a quiter sounds like a Winner to me
Company had Millions in projects on the books also the ones out in hawii wanted there project completed this CEO may be able to reopen this company and complete the projects and grow and expand it the company has assets and techonolgy wonder if GE TSLA or some other major utlities might be interested in there techonolgy there hooking up a 1000 units on a solar grids pretty amazing stuff lets give Sandeep Gupta a chance was reading up on this guy he dont sound like a quiter
Brad Hansen Resigns, Sandeep Gupta Named Interim CEO
MILWAUKEE, Wis., Jan. 25, 2019 /PRNewswire/ -- EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems, which is creating the future of electricity with innovative residential and commercial distributed energy resource (DER) systems and Internet of Energy (IOE) control platforms, announced today the resignation of Bradley Hansen as the Company's Chief Executive Officer and as a member of the Board of Directors. The Company further announced that the Board of Directors has appointed Sandeep Gupta as interim CEO and Chief Restructuring Officer and also as a member of the Company's Board of Directors. Mr. Gupta is a principal and founder of Novo Advisors and his expertise ranges from the development of short-term liquidity forecasts, break-even analyses, and performance/profit improvement studies to mergers and acquisitions and liquidation analyses for healthy and distressed businesses across a wide array of industries. Prior to founding Novo Advisors Mr. Gupta was a Managing Director in FTI Consulting's Corporate Finance practice based in Chicago. There Mr. Gupta assisted clients in stabilizing businesses experiencing a liquidity crisis and improving financial performance both in an advisory capacity and on an interim management basis.
Before joining FTI in 2007, Mr. Gupta spent eight years with Silverman Consulting, a boutique restructuring advisory firm based in Chicago where he gained many of his aforementioned skills. Prior to Silverman, Mr. Gupta was an operational and strategy consultant for two years with Arthur D. Little. Mr. Gupta also has six years of experience as an engineer for Exelon Corporation's Commonwealth Edison power generation business in Chicago.
Mr. Gupta holds an M.B.A. in Finance and Business Strategy from the University of Chicago and a B.S. in Mechanical Engineering from the University of Illinois at Chicago. Mr. Gupta is a member of the Chicago chapter of the Association for Corporate Growth and has most recently passed all three parts of the Certified Turnaround Professional exam.
About EnSync Energy Systems
EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems, is creating the future of electricity with innovative distributed energy resource (DER) systems and internet of energy (IOE) control platforms. EnSync Energy ensures the most cost-effective and resilient electricity, delivered from an electrical infrastructure that prioritizes the use of all available resources, such as renewables, energy storage and the utility grid. As project developer, EnSync Energy's distinctive engagement methodology encompasses load analysis, system design consulting, and technical and financial modeling to ensure energy systems are sized and optimized to meet our customers' objectives for value and performance. Proprietary direct current (DC) power control hardware, energy management software, and extensive experience with numerous energy storage technologies uniquely positions EnSync Energy to deliver fully integrated systems that provide for efficient design, procurement, commissioning, and ongoing operation. EnSync Energy's IOE control platform adapts easily to ever-changing generation and load variables, as well as changes in utility prices and programs, ensuring the means to make or save money behind-the-meter, while concurrently providing utilities the opportunity to use DERs for an array of grid enhancing services. In addition to direct system sales, EnSync Energy includes power purchase agreements (PPAs) in its portfolio of offerings, which enables electricity savings for customers and provides a stable financial yield for investors. EnSync Energy is a global corporation, with joint venture Meineng Energy in AnHui, China, and energy project development subsidiary Holu Energy LLC in Hawaii. For more information, visit www.ensync.com
https://finance.yahoo.com/news/ensync-energy-announces-leadership-change-120000609.html
There is HUGE Demand for there products and services
https://finance.yahoo.com/news/ensync-energy-install-residential-energy-120300495.html
ESNC 12 Cents to 1 Cent in 3 Days Chart seems like way to big of a drop way to fast
http://schrts.co/ZxfUwbCM
ESNC 12 Cents to 1 Cent in 3 Days Chart seems like way to big of a drop way to fast
http://schrts.co/ZxfUwbCM
ESNC 12 Cents to 1 Cent in 3 Days Chart seems like way to big of a drop way to fast
http://schrts.co/ZxfUwbCM
I had a Bid in for 100,000 Shares at .0081 but only got filled for around 10k shares at that price and that took about 10 mins i let the bid sit there finally i just took the rest of the 90k shares at the ask at .009 thats just one hell of a Drop 10 Cents to .008 in 2 days think someone said earlier that the book value was around 15 cents a share worth a speculative gamble at this price
Wow what a Drop .10 to .008 in 2 days
http://schrts.co/NIHksHEp
@ 2$ Buys Back Entire Float 958K Float 2 Million Dollar stock Buy Back would buy back the entire float plus some... So 100% of the entire float at 2 bucks a share... That would leave just the institutional investors left with there shares basically.. you seen what BPTH did with it's 500k float... Tick tock tick tock Patiences with this one also the company has a phase 2 drug any news on it was huge market potential and phase 3 drugs as well plus cash trading way under cash here as well getting there entire pipeline plus cash basically free and now there in the process of buying up there entire float... NEWS SENDS THIS ONE 40 plus
Tonix Pharmaceuticals to Participate at Upcoming Investor Conferences
https://finance.yahoo.com/news/tonix-pharmaceuticals-participate-upcoming-investor-113000772.html
President Donald Trump orders creation of new task force to prevent veteran suicides
https://abcnews.go.com/Politics/president-trump-creating-task-force-prevent-veteran-suicides/story?id=61481048
TNXP Shorts Playing W Fire Float 958K Just announced a 2 Million Dollar stock buy back 2,000,000/3=666,666 Share Stock Buy Back 958K-666K=292k Float assuming they bought back all the shares at the current market price
https://www.marketwatch.com/press-release/tonix-pharmaceuticals-announces-share-repurchase-program-2019-03-01
TNXP Has a Gap to fill on the chart at 40$
RSI Hasnt even budged on the weekly chart sitting at 32 Oversold
http://schrts.co/ImvyIcTJ
BPTH Chart for Comparision 2$ to 73$ last week
http://schrts.co/ADWqASxR
TNXP Shares Float 958,200 According to http://shortsqueeze.com/?symbol=tnxp&submit=Short+Quote%E2%84%A2 Subtract out the 5000 Share i am sitting on and that float is even Smaller have a nice weekend looking forward to next week hope to add even more shares on the cheap :) Also 2 Million Dollar stock buy back at 2$ a share they would be able to buy back the ENTIRE Float at the current stock price just something to think about have a great weekend!
Tonix Pharmaceuticals Announces Share Repurchase Program 2 Million Stock Buy Back program thats like 50% of all there stock at the current stock price.... actually if they just bought shares up on the open market with it having only a 1 million share float they could buy back nearly the entire float at the current stock price
NEW YORK, March 01, Mar 01, 2019 (GLOBE NEWSWIRE via COMTEX) -- NEW YORK, March 01, 2019 (GLOBE NEWSWIRE) -- Tonix Pharmaceuticals Holding Corp. TNXP, -2.86% (Tonix or the Company) today announced that its Board of Directors has approved a share repurchase program pursuant to which the Company may repurchase up to $2 million in value of its outstanding common stock, par value, $0.001 per share, from time to time on the open market and in privately negotiated transactions subject to market conditions, share price and other factors (the "Share Repurchase Program"). The Company intends to fund the Share Repurchase Program with available cash.
The timing and amount of any shares repurchased will be determined based on the Company's evaluation of market conditions and other factors and the program may be discontinued or suspended at any time. Repurchases will be made in accordance with the rules and regulations promulgated by the Securities and Exchange Commission and certain other legal requirements to which the Company may be subject. Repurchases may be made, in part, under a Rule 10b5-1 plan, which allows stock repurchases when the Company might otherwise be precluded from doing so.
Seth Lederman, M.D., President and Chief Executive Officer of Tonix commented, "This share repurchase program reflects our continued confidence in the Company and our focus on creating greater value for our shareholders and stakeholders. The Board of Directors and the management team believe that the Company's shares represent an attractive investment opportunity."
About Tonix Pharmaceuticals Holding Corp.
Tonix is a clinical-stage biopharmaceutical company focused on discovering and developing pharmaceutical products to treat serious neuropsychiatric conditions and biological products to improve biodefense through potential medical counter-measures. Tonix's lead program is for the development of Tonmya(R)*, which is in Phase 3 development as a bedtime treatment for PTSD. Tonix is also developing TNX-102 SL as a bedtime treatment for agitation in Alzheimer's disease under a separate IND to support a Phase 2, potential pivotal, efficacy study and has been designated a Fast Track development program by the FDA for this indication. TNX-601 (tianeptine oxalate) is in the pre-IND application stage, also for the treatment of PTSD but by a unique mechanism and designed for daytime dosing. Phase 1 clinical study of TNX-601 in healthy volunteers will be conducted outside of the U.S. in 2019. Tonix's lead biologic candidate, TNX-801, is a potential smallpox-preventing vaccine based on a live synthetic version of horsepox virus, currently in the pre-IND application stage.
X
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*Tonmya has been conditionally accepted by the U.S. Food and Drug Administration (FDA) as the proposed trade name for TNX-102 SL (cyclobenzaprine HCl sublingual tablets) for the treatment of PTSD. TNX-102 SL is an investigational new drug and has not been approved for any indication.
This press release and further information about Tonix can be found at www.tonixpharma.com.
https://www.marketwatch.com/press-release/tonix-pharmaceuticals-announces-share-repurchase-program-2019-03-01
Plus they have OVER 10$ a share in Cash
Needs a new board of directors maybe we can get Elon Musk to join a new board and lead it
Sounds like the deal is still on and the company has a potential law suit against them as well Very nice Find Thanks for sharing!!
The Largest Shareholder 1.3 Million Shares given the volume say that they have done dumped all those given that there has been serval block trades today at 1 Million shares got a seller at .07 down to around 200k shares left for sale tempted to take him out watching for now should bounce off these lows
https://finance.yahoo.com/quote/ESNC/holders?p=ESNC
Major HoldersInsider RosterInsider Transactions
Major HoldersCurrency in USD
Breakdown
33.93% % of Shares Held by All Insider
6.59% % of Shares Held by Institutions
9.98% % of Float Held by Institutions
25 Number of Institutions Holding Shares
Top Institutional Holders
Holder Shares Date Reported % Out Value
ICM Asset Management, Inc. 1,330,720 Dec 30, 2018 2.35% 240,594 1.3 Million shares is what the largest holder has
Vanguard Group, Inc. (The) 892,253 Sep 29, 2018 1.58% 227,524
Sheaff Brock Investment Advisors, LLC 350,000 Dec 30, 2018 0.62% 63,280
Crescent Grove Advisors, LLC 320,376 Dec 30, 2018 0.57% 57,923 I am guessing these guys are on the ask at .07
Geode Capital Management, LLC 149,026 Sep 29, 2018 0.26% 38,001
Citadel Advisors LLC 80,540 Sep 29, 2018 0.14% 20,537
Pegasus Partners Ltd. 60,000 Dec 30, 2018 0.11% 10,848
Virtu Financial LLC 46,020 Dec 30, 2018 0.08% 8,320
Glenmede Trust Co NA 36,070 Sep 29, 2018 0.06% 9,197
Blackrock Inc. 33,047 Dec 30, 2018 0.06% 5,974
Top Mutual Fund Holders
Holder Shares Date Reported % Out Value
Vanguard Total Stock Market Index Fund 619,994 Sep 29, 2018 1.10% 158,098 Could be these guys as well either way not like they have a ton of shares to put up for sale
Vanguard Extended Market Index Fund 211,783 Sep 29, 2018 0.37% 54,004
Fidelity Extended Market Index Fund 114,418 Nov 29, 2018 0.20% 23,169
Vanguard Balanced Index Fund 55,876 Sep 29, 2018 0.10% 14,248
Fidelity Total Market Index Fund 32,445 Nov 29, 2018 0.06% 6,570
iShares Core S&P Total U.S. Stock Market ETF 31,169 Nov 29, 2018 0.06% 6,311
Invesco ETF Tr-Invesco Wilshire Micro Cap ETF 10,538 Nov 29, 2018 0.02% 2,133
CFRX High ADX PPO Pinch Play Chart
http://schrts.co/MkshSwFE
CFRX High ADX PPO Pinch Play Chart
http://schrts.co/MkshSwFE
CFRX High ADX PPO Pinch Play Chart
http://schrts.co/MkshSwFE
Where in the hell does all these shares keep coming from?? its like they have a never ending supply of shares to sell its like non stop dilution or something i dunno if its the previous warrants or what i am about to dump all my shares and just say the hell with it yahoo shows the Float as only 479K Shares but its trading like it has Millions of shares outstanding
Was just doing some DD Last night
http://stonegateinc.com/reports/BPTH%20Update%20JAN%202019%20Final%20v3.pdf
anyways in that report above they was talking about how BPTH Current lead drug is having better results then Gleevec - $1.51 billion
So did some research on that drug
https://www.fiercepharma.com/special-report/gleevec-1-51-billion
it did 1.5 Billion in sales in 2011 alone
600k Float YET 15 Million+ Volume since its had its reverse stock split a week ago did a 1:20 Reverse stock split then on that day it traded like over 9 Million share volume when the total number of shares avaible to trade was spose to been reduced down to just 600,000 shares total someone explain how thats even possible??? Float 579.43k Total Shares outstanding is 1.1 Million that even includes the latest dilution yet this stock is trading nearly a million share volume on the daily and is sitting near its lows i dont get it every single buyer is a Loser and based on the chart they have been losing for YEARS now like every single shareholder has been WIPED OUT Reduced to Virtually NOTHING
Stonegate Capital Partners Updates Coverage on Bio-Path Holdings, Inc. (NASDAQ: BPTH)
https://finance.yahoo.com/news/stonegate-capital-partners-updates-coverage-213000664.html
Public Float is only 600K Shares not sure how its trading all this volume and really not sure like a week or 2 ago on a friday i beileve right after the RS Stock traded like 10 Million shares in a single day when there is maybe 1.2 Million total shares outstanding on this stock extremly low float
Yeah I totally understand all the previous shareholders have pretty much been wiped out through dilution and reverse stock splits they had a 10 for 1 and then a 20 for 1 so lets say you had 10,000 shares originally if you held through both RS You would only have 50 Shares left today... Ouch pretty much wiping out your entire investment This has reduced the Float down next to nothing should be around 600K Share Float now... any positive news and it could Fly but dont help the guy that has had his shares reverse splited and diluted down next to nothing even if the stock went back to 20$ a share 50*20=1000$ he would still be down huge
The CEO and Board of Directors bought into the latest stock offering also the stock has a gap to fill on the chart at around 20$ a share They should have Phase 2 data Coming out soon on there lead drug
http://schrts.co/vMkrEvuG
The CEO and Board of Directors bought into the latest stock offering also the stock has a gap to fill on the chart at around 20$ a share They should have Phase 2 data Coming out soon on there lead drug
http://schrts.co/vMkrEvuG
Phase 2 Results Due any day now
Whats the Float?? They just did a 20 for 1 Reverse stock split should be less then a million shares outstanding then they did a follow on stock offering but that was only 600k shares so should be around 1.2 Million shares total outstanding but they havent even closed that offering yet so how did the stock trade nearly 10 Million volume last friday?? in a single day....
CLD Pinch Play Setting up High ADX Line Meeting PPO Also highly undervalued down here
http://schrts.co/zQZsKL
1 Billion+ in Net Tangable Assets VS 27 Million Market Cap These idiots are giving this company away 13.55$ Per Share Book value trading at 40 Cents even if you was able to get HALF The book value would be closer to 7$ a share
Price/Sales (ttm) 0.03
Price/Book (mrq) 0.03
Book Value Per Share (mrq) 13.55
and the company is still cash flow positive
Operating Cash Flow (ttm) 19.07M
May need to take over this company and FIRE The current management and board of directors 13 Million takes control of over 1 Billion Dollars worth of Net Tangable assets This is a absolute FIRE SALE These prices want last long
800 Million Dollar Collateral Call Coming Company only has 400 Million in Cash and now faces 30 Billion in Liablities on top of the 20 Billion in Debt
https://www.zerohedge.com/news/2019-01-08/sp-downgrades-pge-junk-launching-countdown-800-million-collateral-call
S&P Downgrades PG&E To Junk, Launching Countdown To $800 Million Collateral Call
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by Tyler Durden
Tue, 01/08/2019 - 23:17
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One of the biggest surprises involving the ongoing collapse of troubled California utility PG&E is how it was possible, that with the company reportedly contemplating a DIP loan ahead of a possible bankruptcy filing which sent PCG stock plunging and its bonds cratering to all time lows, that rating agencies still had the company rated as investment grade.
Late on Monday, this question got some closure after S&P became the first rating agency to take a machete to its rating for PG&E, when it downgraded the company by five notches, from BBB- to B, the fifth-highest junk rating; S&P warned that more cuts are imminent.
As we reported previously, PG&E's shares plunged as much as 25% then as much as another 17% on Tuesday, to their lowest level since 2003, as investors worried about the potential for the company to file for bankruptcy as California investigators have been looking into whether the utility’s equipment ignited the deadliest blaze in state history in 2018 as well as fires in 2017, probes that could leave the company with legal liabilities topping $30 billion.
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A spokesman for PG&E said in an email Tuesday the company’s board is “actively assessing” operations, finances, management, structure and governance while maintaining a commitment to improving safety.
As Bloomberg notes, PG&E’s record-low bond prices underscore how much more the company will have to pay to borrow in the future, even if California comes up with a legislative bailout. "It also highlights how vulnerable even highly regulated, traditionally dependable stocks like utilities can be to natural disasters such as wildfires and hurricanes."
Meanwhile, as we discussed last Friday, whatever PG&E ultimate fate, it "will ultimately increase costs to California ratepayers and taxpayers, which already face a high cost of living,” S&P analyst Gabriel Petek, who rates the state of California, not PG&E, said in an email Monday. “The important takeaway to me is that these fires and how the ‘fire season’ is virtually a year-round phenomenon now represent a material consequence of climate change.”
In addition to the plunge in the utility's notes due in 2034, the company's 3.5% bonds due next year are currently yielding more than 9.9%, far above where most high-yield securities are paying and a level reserved for deeply distressed credits. As shown in the chart below, B-rated debt, the mid-tier of junk bonds, yields on average 7.5% as of Monday’s close, according to Bloomberg index data.
But while S&P took the axes to its ratings of PG&E, Fitch and Moody have yet to slash the company's investment grade. And when they do, the next major headache will emerge for both management, shareholders and bondholders, as a similar "junking" by Moody’s to high-yield would result in a rerun of the AIG death sprial, as at least once cash collateral call for PG&E of at least $800 million - to guarantee power contracts - will be triggered according to a regulatory filing (according to Bloomberg no other ratings triggers have been disclosed, although as AIG demonstrated, these tend be hidden deep inside ancillary contracts and only a downgrade will reveal just how insolvent the company is).
An $800 million collateral call would be a major problem for PG&E, as the company only had $430 million of cash on its books at the end of September. To preserve liquidity, PG&E suspended its dividend and fully drew its lines of credit, an event which we said is the first flashing red light that a liquidity crisis now appears inevitable. Meanwhile, as reported last Friday, the company is considering filing for bankruptcy as soon as February.
Adding another 200,000 Shares down here damn fools I actually know a guy that has enough money to take this company over with going to give him a call later
1 Million shares sold at 24$ a few years ago could buy the entire company up today at todays prices just something to think about
25 Million market cap 12 Million takes control of this massive company 1.65 Billion in annual revenues has 72 Million in CASH No Short term debt Due also has 400 Million Dollar line of credit so no risk of Bankruptcy New CEO She can and will turn things around last company she ran Popeyes got sold for 1.8 Billion Dollars under her leadership Strong Buy going long 100k shares may add even more down here not sure who these idiots are selling at these prices they gotta be dumber then hell