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Kyle wins again. The kid is amazing.
You guys made me smile this morning.
Mickey, as to your question. Sort sort of sub-leasing is possible but probably not all that feasible. Leases are cheap, the real money comes from royalties from production. Our plan puts the project into production much sooner than anyone else could, just the negotiating on the sub-leases could take many months. Good idea, but not really practical here.
*before anyone asks, I cant comment on any projected dates yet*
You are correct,It does mean wiped out, the court documents clearly state that there will be no recovery for the current common shareholders.
I think those who have been waiting for their money forever and get paid in shares will be the ones dumping.
Its a lot more than 190 million. Add them up. Along with the existing shares, my quick math says the market cap would be around 120 million dollars at the current pps. I foresee quite a few bagholders shortly.
The Plan provides for, among other things, a restructuring of pre-petition debt, as follows (i) distribution of $50,000 and issuance of 10,000,000 common shares in the reorganized debtor for the extinguishment of unsecured indebtedness; (ii) extinguishment of one $10,159,000 unsecured claim in consideration for the confirmation of a Plan of Reorganization; (iii) issuance of 425,000 common shares for the extinguishment of $4,216,000 in redeemable convertible preferred stock; (iv) assumption of one $150,000 contingent secured claim bearing interest at 8% per annum and being paid over 8 installments beginning 120 days after confirmation; (v) assumption of note for bankruptcy legal expenses in the amount of $61,673, bearing interest at 8% per annum and being paid over 8 installments beginning 120 days after Plan confirmation; (vi) the right to issue 3,524,000 common shares in exchange for legal services related to the Plan of reorganization; (vii) issuance of 190,000,000 common shares in consideration for the merger of KruseCom; (viii) reservation of 10,000,000 shares to be issued by the reorganized debtor for working capital; (ix) reservation of 2,250,000 shares to be issued by the reorganized debtor to key third parties. All outstanding shares of the Company’s common stock will remain issued and outstanding at and after the Effective Date.
Pretty sure I cant comment on that yet, but I will check.
mudcatboy: No court decisions this week, but that does not mean important stuff is not happening.
nephritejade: As to your questions the other day about the POR, No it is not a "race" and nobody "trumps" us, we are working on a POR that we think will be acceptable to most or all parties.
I will get back to you on this to make sure my answer is correct and does not violate confidentiality rules.
Agreed again, he is a top notch guy and an asset to the company.
Me too, good guy.
Yes, Ron is still there every day.
I think it was Walt who gave that tour.
Exactly, I only picked tony over jj because he did good for me in Vegas a couple weeks ago.
Trueblue, that is along the lines of what I have heard as well, supposedly a big offer was made, but the way the deal was structured, no real money would be realized until they decided to put it into production, which could have been 10-100 years.
To be clear, the above was just drawn from second and third hand conversations. It may or may not be accurate.
*yawn* sure is boring up here on top.
77 here in Georgia, clear skies, nice breeze, but the damn pollen is killing me.
You said
" heard that most people on this forum believe the rumor mill of having a former senior board member from Kennecott Copper Mine worth mega millions is going to be the one to finance this whole fiasco and deliver the shareholders from their all so certain (account) death."
I say I have not heard that, and I have heard most everything. I am truly interested in details, why not post them or send to me privately?
or if " most people on this forum believe" would one of you believers please send me details?
That is a new one to me web, do tell more please. Or PM me the details of what you heard if you dont want to post.
Small town rumors are fun aren't they? LOL
Bullbeck, thanks for posting that and giving me the chance to respond since it seems to surface a good deal.
All you guys continue to keep your ears open and feel free to contact me with any future rumors.
I speak with Dave almost on a daily basis.
In the "For what its worth" category, I have heard several versions of this story over the past couple of months. First I heard that it was a Chinese man himself that claimed to have bought the mine (not true) then that it was Marcus Southworth who made the statement along with a Chinese man, and now today, Dave McMullin gets thrown into the mix. LOL
Just talked to Dave McMullin, he was never in any store with an "oriental" man. Did not happen.
I like it. 5 points sounds reasonable.
So that means I can talk smack subject to change? LOL
Looks like I ended up with 115 for the day, which should put my total at 422 Did any of you lucky 7 knock me off?
Man, you 123'ers are killing me. 1,2,19 for me.
Thank you, but I am busy enough being "retired" lol
Looked like he was trying hard to with Robby
CRANK IT UP !!!!!!!!!!!!
Quick answers, will post more later.
"jb is the current ceo and holds the power to negotiate and offer the por, not the the cprksa"
The ESHC (not CPRKSA)will be presenting our own POR
" Is there the ability to switch ceo in the middle of a chapter 11?"
Yes, shareholders maintain their corporate governance rights even in Ch 11
LOL, even if they finish 123 you will still be at least 28 points behind.
Just watched BYU destroy Gonzaga 89-67 and advance to the sweet 16
lol, maybe we could get Charlie Sheen on board.
I just let newhamphire borrow it from me for a week, he was kind enough to give it back the following week.
14, 18, 99
for me tomorrow please.
Oh, and if you are having any trouble locating me on the chart, just start at the top.
Busch triumphs at Bristol for fourth consecutive race
BRISTOL, Tenn. -- So what else is new? Kyle Busch hit another milestone in Saturday’s Scotts EZ Seed 300 at Bristol Motor Speedway.
Yes, he won the race. That’s almost a given in the Nationwide Series these days. The victory was Busch’s second of the year and the 45th of his career, leaving him four behind Mark Martin (idle Saturday) for the career lead.
Perhaps even more impressive was what Busch accomplished on Lap 265 of 300. In his 206th start, Busch led his 10,000th lap in the series. No one else is close. Busch, who swept the Bristol weekend in August, is the first back-to-back winner at the track since Steve Grissom in 1995.
Fast-closing Kasey Kahne finished second, .524 seconds behind Busch, followed by Dale Earnhardt Jr., Elliott Sadler and Joey Logano. Danica Patrick finished 33rd after wrecking late in her Bristol debut.
Busch took the lead from Earnhardt moments after a restart on Lap 32 and held it the rest of the way, with the exception of one lap led by Kahne under caution and two led by Brad Keselowski.
Nevertheless, Saturday’s win wasn’t exactly a walk in the park. Under a competition caution called after Lap 25, teams were required to replace their right-side tires with a new construction rushed to the track by Goodyear after tire wear issues plagued Friday’s practice sessions.
The new tires affected the handling of Busch’s No. 18 Toyota.
“It changed the dynamic of the car quite a bit,” Busch said. “We had to compensate for that driving-style-wise and with some changes to the car, but [crew chief] Jason [Ratcliff] and these guys did such a great job.
“We played a lot [Friday] with different setups and what we wanted to do and how we wanted to do it and what exactly we were looking for. I know the feel that I need, but it’s just hard to get it sometimes.”
On Lap 248, Danica Patrick’s Chevrolet tangled with the Toyota of Ryan Truex, spun and slammed nose-first into the Turn 1 wall. Patrick, who was running two laps down in 17th at the time, thought Truex moved off the frontstretch wall into her racing line.
“It felt like to me that I came out of the corner, and I was running down the straight, and I felt like he came off the wall. … I know I was running him early, and he just runs hard. He’s run hard every time I’ve been around him, and it just seems like overkill.”
Jason Leffler finished eighth and took the points lead by two on pole-sitter Ricky Stenhouse Jr., who finished 14th.
http://nationwide.nascar.com/nationwide-series/news/110319/kybusch-wins-bristol/
The hearing in May is for Republic Bank, does not mean nothing else will be scheduled before then.
Jennifer Jo Cobb quits or got fired after she refuses to start and park.
I have not spoken with JB in many,many months. Make of that what you will.
Here he is
http://www.dorsey.com/cummings_scott/
Peggy is our main attorney (great resume)
http://www.dorsey.com/people/detail.aspx?Attorney=4675&mode=full
and Annette as well (who has an amazing resume as well)
http://www.dorsey.com/people/detail.aspx?Attorney=4674&mode=full
Nathan helps out as well on routine stuff (saving money again)
http://www.dorsey.com/seim_nathan/
I have talked with him on stuff for around three months, he may have been involved behind the scenes before that, but my first communication with him was right around three months ago.