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ok... moved my gambling funds from GDP into SDOC - looks like a better table for now.
Excellent response - glad to be aboard.
Anyone know total Shares Outstanding ... TIA
Yes - I'm out - did not sound good, no new numbers discussed -so I would assume the deal is crashing - I mean why not bring good news into the call? More of a plea than an update. Anyway, hope it works out for everyone - moving my money elsewhere - managed to get out on the up.
SODC Default pending ? ... info here
OKLAHOMA CITY, Feb. 17, 2016 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company") (OTC PINK: SDOC) announced today that it elected to exercise its grace period and defer making approximately $21.7 million in interest payments due February 16, 2016, on its outstanding $543.6 million principal amount of 7.5% senior notes due 2023 and its outstanding $46.9 million principal amount of 7.5% senior convertible notes due 2023. The Company has sufficient liquidity to make these interest payments, but has elected to use the 30-day grace period in connection with its ongoing discussions with stakeholders. Entry into the grace period does not constitute an event of default under the indenture governing the notes.
Risky, but you could average down at current levels - I'm sure a lot are or have been. Call at 10AM tomor. should drop some hints as to what is happening for the 14th and beyond - still think we should see $40 / barrel for Fri. - it touched on that yesterday briefly. Depending on tomorrows news (and oil price to Fri) we should hopefully get closer to 50 cents for Fri.- If the SH deal collapses we`re back to square one. Day by day for now.
SDOC did the same recently with no effect - SP up dramatically - it's not a default (30 day grace) if the restructuring plan goes through and GDP avoids BK. So far so good - tomorrows conference call should be telling - as well as the price for oil. SP could go either way on this - depends how many have the jitters. I thought they would reserve this until the 14th meeting - it's a bit of cat & mouse going on - I'm sure it's all strategy.
Nice, yes - people trying to strike it rich overnight here - 90 days is too long ?? Anyway, stay the course - see you on the other side.
Thanks - you as well.
Checking in, still on track - Hegyi's last announcement came in on a wed. - creature of habit perhaps? Enjoy the great weather - Hegyi will watch the stock while you're gone. While you sit on this one go look at oil - GDP perhaps )))
Thought I heard / read Mr. Goodrich proclaim a $40 threshold in order for GDP to make a positive turnaround - we are nearing that now (Fri. or prior at 40 is my guess) - with that being said, March 14th news/meeting should be an easy sell to shareholders that continue to holdout - the light at the end of the tunnel is no longer a fast approaching train. Friday afternoon (2PM) oil price will dictate whether I sell or hold - for now I will ride it up to the 50 cent mark (personal prediction only)- so far so good.
Looks as though the deal will go through as well (March 14/15) - should see 50 cents + by weeks end is my guess - next week who knows ? back over $1 perhaps?
I got into GDP at 7 cents - so far so good - Sandridge is another hot potato which has a potential class action chasing it as well right now (both GDP and SD are super high risk buys - either could go BK) - GDP seems to be working directly with shareholders (it's a more organized mess) whereas SD seems to be dictating what it will and won't do. Shareholders are kept up to date with GDP (I know exactly what is going on week to week)SD, not so much - not saying SD is not worth a few hundred being plunked down on it - I may take some winnings from GDP and move it to SD(I think GDP will run up until the shareholders meeting on the 14th - after that? ...depends on the news on the 15th) GDP has specific dates I can work with - SD is just floating around aimlessly for now (until the 14th at least, I'll hold GDP and keep a close eye on SD) I've had some lucky breaks recently so anything here is a nice bonus right now.
Thanks,,, looking in to it - possible interesting addition so far
Yes, it all hinges on the shareholders meeting come the 14th - what I'm reading is a lot of the institutional shareholders are holding out to see the results of that meeting - if they jump on board GDP will have enough (95%) support to move forward with their plan and avoid BK. This is super high risk but the rewards are equally proportionate.
Yes, the strategically (or just plain coincidental) planned meeting on the 14th is something I have an eye on - will ride this up until that date and reassess - we should see an announcement on the 15th (regarding many items .. interest due etc.) which will set the tone for the future - I will either jump ship or keep sailing on at that point - thanks for the well wishes. So far I've been lucky at guessing strong recoveries PBIB PHOT WEQ - hoping to add GDP to the list.
Up 40-50% today, in at 7 cents, watch this climb daily as we close in on 40 $ a barrel next week ... ++ toward july - Also, shareholder meeting on March 14th should have some positive news for shareholders - my guess, close to $1 by months end.
The original MM was listed within the body of an email from Hegyi I posted here a while back - spent 20 min. this AM searching, cannot find it ??? Anyway, it may be irrelevant since we now have a multitude of MM's servicing PHOT today - from the website:
"The return process involves many market makers, currently five trading regularly, and moved about 75 million shares in the last five trading days."
http://growlifeinc.com/
With this quote from Hegyi (below) I'm leaning strongly toward all parties heading down a path rarely taken (back from the grays) and in turn are still streamlining the process (including FINRA) - sad but true. If, in 30 days, these "glitches" still persist then I would say we have issues - the following statement from Hegyi suggests were back (legally) and moving forward.
“GrowLife was notified yesterday that FINRA approved a market maker who filed a 15c2-11 in August 2014,” stated Marco Hegyi, President of GrowLife. “We are pleased to clear this important hurdle of restoring trading in GrowLife on the OTCBB. Re-listing on the OTCBB will allow us to enhance liquidity in the stock and attract additional market makers and institutional investors. We plan to expeditiously apply for up listing on the OTCQB to further these goals.”
You will see the remark "attract additional market makers" - since that statement we now have five (maybe more?) - I don't think additional MM's would be able to jump on board without being approved first by FINRA.
The fact we now have several MM's speaks volumes. And I certainly don't think Hegyi would make the claim if it were false, he has struggled for years to get to this point.
I am no longer concerned about this, but I can respect that others still might be.
Will catch up in March.
Hello Bog - just got in, I'm officially signing off for a few weeks (vacation) I'm confident things will straighten out over the next 30 days as per his tweets/email. By all means contact him directly if you wish, he is very receptive to any shareholder queries. See you all in the spring - should be at least 10 cents by then... Yes?
If the mix up continues beyond the 30 day grace period I will have additional concerns. If you (Janice) feel that the current situation is unacceptable (and I fully respect that) then you may want to contact him directly via the PR or shareholder email address on the main website (Growlife). His personal email address may also be there but I hesitate to post it here for obvious reasons.
Email from Hegyi last night (below) - it was similar to the tweet(s) so I never posted it - sounds like we're dealing with a glitch of some sort but I can't confirm that. Hopefully it gets cleared up over the weekend / beginning of next week but could take longer. This part stood out for me:
"Am told this transition period takes about 30 days"
From him:
All is fine.
I was informed tonight that market trading continues as it has since we resumed trading. Buyers/Sellers work with their brokers to solicit and conduct a buy and sell. The return process involves many market makers, currently five trading regularly, and moved about 75 million shares in the last five trading days. Am told this transition period takes about 30 days. Share value continues to be what the market sets, which closed at $0.05 per share today.
Best regards,
Marco Hegyi
INTL - The past has been dealt with (fines /jail time) & I understand your frustration - many here are rightfully disgruntled with the old PHOT. This is the New Phot - it will take time to build trust, but Hegyi is the right person for the job - "integrity" is job one.
Gotta love Hegyi - responding to emails & tweeting responses after 8-9PM - we've got the right guy at the helm.
Thanks to Bogblog - Twitter update from Hegyi:
Marco Hegyi ?@marcohegyi 4 minutes ago
I am aware of the "inactivity" posting matter, working it and will get back to everyone
Here, scroll through list (daily)
http://otce.finra.org/DailyList
Janice - thanks for your detective work - I merely forwarded your info to Hegyi via email and he is on it (recent tweet from him)- should be cleared up shortly. There's no "me" in team ..oh wait... maybe it's "I" ... anyway, good job.
He is aware because we made him aware - he emailed me a while ago but I had gone out, thanks to Janice S. for the heads up:
I will look into this immediately.
Best regards,
Marco Hegyi
Hegyi can clear this up quickly - In the email I ref. all of the concerns regarding the ineligibility link and the unsolicited trading remark(s). I won't even hazard a guess as to why we are seeing these strange notifications, PHOT is clearly back and trading - makes no sense.
I have requested clarification from Mr. Hegyi on this matter, he usually responds within 24 HRS. If he does not respond directly to me (or via another member here if someone beat me to it) then it will probably mean he is preparing a formal announcement, or it is of no concern to him - I've noticed in the past that if I inquire about something rather mundane he passes on commenting (rightfully so - I'm sure he's busy, even more so now) Anyway - if I hear anything I will post it here immediately - if not, we wait.
Yes, nice - will we see a legit 9AM announcement drop tomorrow?
Qtrade 0.05 +0.002 | +4.1667% Volume:925,701
Daytraders (most) flushed out? Longs only hanging back for great news (hoping Hegyi double dips this week with a Fri. 9 AM Grand Slam announcement) - expecting at least one a week until end of March - then group together for shareholder meeting early summer (prior perhaps?) - teeter totter stock 4-5 cents ... for now.
60% success rate so far with a 5 day extension - they need 95% to pull this off, my guess is no go and BR proceedings for March as scheduled - thoughts ??
Growlife's Debt - Breathe People, it's not that bad - 4 Mil+ just became avail. through new financing - 4 Mil in Liabilities can be serviced through current revenue - or paid off via the loan (highly doubt - it's not being called in) - the most dilution I can see is 400 Million shares at 5 cents to cover the 2 Mil. in settlements, but he may use the new financing to do that. His statement alluded to the fact that this has all been dealt with months ago - just waiting to flick the switch. This is the New PHOT - it is of my "researched" opinion that dilution is completely unnecessary at this point.
Not true - he has 4 Mil + in financing avail. Liabilties are about 2 Mil - 40 Mil. shares at 5 cents - or he covers via financing - not sure what your motives are but he has alternatives to dilution - last thing he wants is more PO'd shareholders - been dealing with them since 2014
Wow ,, how'd we miss that ?? anyway, good find ...
PHOT Train pulling out of the station, go Hegyi
HA HA - Told You - Here comes Heygi, right on target
well said ....almost 1 week in, announcement time ?
Anyone else notice that all of these quirky announcements seem to benefit BLTA Upper Staff and never the airline or it's shareholders - why not sell or lease the aircraft out to create revenue rather than continuously dilute - can't be that hard to buy or lease another 25-30 year old 747 once you have full FAA approval. Talk about the horse before the cart - good little show they put on though - has fooled thousands for years, no ...make that decades.