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Roughly 1.2M shares bought today and only about 89K sold, the price decreased, now that is market manipulation!
Interesting buy/sell pattern buying in just enough so price will not go up and then selling just enough at the end of the trading session to suppress the price, I think they are buying up as many shares at these prices to neutralize anything they will have to pay out in the future. Considering they will have to settle up with common share holders!
And they can reregister after the liquidation process is over they just cannot operate a business for a year, anything else, because that is just the way it is, and if you brush up on the company's history you would know that they have been through a liquidation process before.
Cheery picking facts to support your argument is commendable but ultimately does not change reality.
No confusion, the Liquidation process is used like a BK or also used for restructuring.
VDC has been through the Liquidation process before and emerged from it which is most likely what will happen this time as well.
Yep, no matter how many times it is stated it just doesn't sink in for some people lol
VDC owns 13% of VDI and also received $17M from VDI and just because you erase a post doesn't mean that your right!
VDC maybe in Liquidation but they are not in Bankruptcy just reorganization and the earliest they can get out of Liquidation is one year and they have accrued approximately $79M and currently have no liabilities because of the restructuring!
Have some courage when confronted on your BS and don't just erase posts.
Hopefully they will shore up that balance sheet!
The fact of the matter is VDC owns 13% of VDI and if you look at the latest 10Q filed by VDI, VDC received $17M US, what was that about misinformation? If you still feel the same way and I do mean feel, what would your explanation of that $17M VDC received in the SEC filing by VDI?
However you are correct that they are in Liquidation and cannot operate as a company for a year at a minimum, so that VDC note and what ever is accumulating will be there when they get out of Liquidation. BTW this is not bankruptcy this is restructuring.
I do have archived copies and do not trust KPMG.
Basically I mentioned the VDC note and they totally denied it, there is a privacy clause in the email, so I cannot show them with out doing something illegal.
No VDI that we knew of, however on paper there probably was.
Would be great to know who the market maker is, just to know how rigged this is!
The most notable point was when VDI stated that they were giving VDC the shares in the new company and that would be used to pay off creditors, but the shares cannot be sold and that would mean VDI would have to fork out some cash to do this, which is not happening. And all creditors were negotiated with and basically reorganized and VDI took all the debt and left VDC with no foreseeable debt.
They are going to a lot of trouble to keep this stocks price down.
Really makes me want to know what they are hiding because I have cornered KPMG in emails and they basically denied the $62.5M of equity they received.
I also wonder when VDC and VDI came up with this plan of reorganization, my guess is roughly September 2015.
Interestingly enough after a volume buy like that they end up lower close. But goes up on less than a 100k!?
If you do read all of the SEC filings, which KPMG is not recognizing and has stated that through correspondence with me. You would see VDC is stated as a member in the trust.
LOL, do your research before you make these LOL blanket statements, because you are dead wrong and arguing just for arguments sake.
Yeah, keep on selling, especially in the case of a dividend!
Read the trust agreement!
Epiphany!
With VDC becoming a subsidiary to VDI and restructured the debt that once was VDC's debt is now VDI's debt as well as their assets which was paid for by the VDC note.
The only debt VDC has is their common shares and since they are in Liquidation that means they will have to deal with the common shares one way or another! But when they come out of Liquidation they will have roughly $79M in assets. On that note not hard to imagine why the corporate types for VDC or VDI want you to sell!
S-1/A 08/26/2016 VDI new ordinary shares with conversion rights!
These shares will not be sold in any public market, looks good for VTGDF shares considering VDC will have to deal with common shares by buying them back or letting them ride with value intact!
Yes, technically understand that VDC owns 13% of VDI, therefore we own both, just wanted to see if you were in any of the other funds.
Thanks for your reply, have a great weekend!
Just out of curiosity which two are they?
I suspect that this conversion of the convertible bonds into shares at that price, was due to the fact Anchorage is named in the Trust.
Great Post!
Common shares are classified as debt, which is one more reason common share holders will benefit from their holdings in VTGDF!
The $17M paid to the VDC note, blows my mind, with $62.5M already paid out in shares in Feb., how they receive the $17M is a huge question mark! Nothing but time for this one, I might end up a millionaire before this is all said and done!
Couldn't agree less,
Very simply stated VTGDF common shares were used to pay Anchorage Capital for the $3M bonds they were holding for 1M common shares in VTGDF. This is a stipulation to the restructuring of the company. The math is a little fuzzy but Anchorage is also in the trust of VDI.
So, if wishful thinking is cold hard fact, maybe your right, but do not think that was your intended backhanded statement.
BTW Black Rocks fund (VTGDF is listed in) is linked to the fluctuation of the price of Crude Oil, when the price of oil normalizes again VTGDF would be at the correct price to sell!
So, thanks for those words of wisdom but they will not do me any good!
Fundamentally VTGDF common could not be worth nothing considering the debt restructuring paid Anchorage capital off with them in exchange for the note they were holding.
No! VTGDF shares are not worthless! Anchorage Capital as you know, has been paid in the deal of rearrangement of debt in common shares of VTGDF, which for roughly 3M$ traded into 1M common shares, the math is a little fuzzy. However Anchorage Capital is named in the VDI trust, which means 4% of the parent company. In those terms is all makes sense.
VTGDF is a powder keg waiting to blow! The interesting difference between now and Feb. is the base is around .009/.01 versus .002ish, should raise above .02/.03!
Yep, they have a enough cash to make it back to regular oil prices.
Still enjoy the line item giving the VDC note 17M! How long will it be before we get to a dividend?
Great Post! Didn't see that yet, but after looking at the balance sheet this quarter they are inching along and will eventually get to that break even point and this contract maybe the one to do it.
Enjoying Japan!
That statement about the note paying off the debt of VDC is a little off, considering they have reorganized debt and the parent company has taken all the liabilities as well as majority of the assets.
VDC is a part of the trust but also states that if an entity in the trust are in Liquidation/BK cannot participate until they are out of it. That is why Dec. this year is interesting because they can legally re-register from Liquidation.
In the initial Back Stop, VDC had 1 billion of capital awarded to them, also states the VDC promissory note that became the VDC note is to receive 10% interest per annum. With that if that in the 10Q:
The following table summarizes the balances payable to VDC included in the Company's Consolidated Balance Sheet as of the periods indicated:
June 30, 2016/ December 31, 2015
(in thousands)
Accounts payable to related parties, net
$17,264/ $17,340
VDC Note
—
61,477
Accrued liabilities
—
489
$17,264/ $79,306
After rummaging over the 10Q and have not went over everything in detail, at this price right now this it is just a matter of time and definitely worth more than a cent or two!
I am in Japan and currently on vacation, so I have not been able to go through the new filing thoroughly just yet, but look for to it and saw that nice price bump though.
Great post! Have not had enough time to digest it yet..., but sounds like they are waiting for reincorporation, which is possible in Dec. after Liquidation is officially over. But seriously looking forward to dissecting this!
Great post! It also depends on the site reporting, Morning Star, CNN Money, Nasdaq and others, I have yet to find a site that puts all the owners in one data file.
not sure they usually pay a premium price, but at current price they could do it on the cheap! Fair market value as you might agree is at 20 cents.
Thanks for the post luvgrowth, the interesting thing is this SEC filing was on March, 30th, and all subsidiaries of VDI have officially stopped filing SEC documents, which just means there is another hint that they are going completely private and might make a buy out of existing shares of VTGDF, since that is the only openly traded stock.
Me too, at these prices you cant loose!
Oh yes, totally agree and when companies buyout shares it is usually at a premium so the lower the shares are trading at the better for VDI. Whom ever the market maker is for VTGDF is purposely keeping the price raises at 1/10 of a cent, I do not think that is a coincidence!
The key is time! After they reorganized debt, they make it possible to stay in business until oil prices return to optimal normal prices.
Short term investors wanting to get rich overnight are in for a rude awakening because oil might reach normal prices by 2018, but I have all the time in the world!
But just wait for their next earnings report, sales are going to be around $20M and that is with not all the rigs working.
Be objective and don't pigeon hole yourself! VDI's success will benefit VTGDF share holders.