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imgonna, we don't know how much libility Johnson will take on. And keep in mind this is the opening bid. I don't know if the bids are going to be made public, but I believe there are 20 days for someone to make a counter offer. Assuming we have some shareholder value to start with, every additional 6M in the offering price should add roughly .10 to our s/p.
Filled 77K @ .033 - yep thats enough for me too.
Thats about it. We still don't know where we stand, though we do have a minimum bid for the company, and the higher estimates are pretty much out the window. We are going to see things move a little faster now, at least.
Trying to add 77K at .033, order open
It means the company is getting auctioned off, currently we have a willing buyer and a price, but we don't have all the numbers to know whether this is good or not. There are going to be a lot of developments for sure.
I just went to Premium a few minutes ago. Been wanting to for a while anyway. More like 3 hours sleep last night.
It looks like the buyer assumes the $37M debt also.
Yes, it looks like WHAI will sell the company and has a buyer (the Stalking Horse under Section 363), but still plan to entertain counter offers. We need to know more details of the offer, which I would expect to see in an 8K to be filed rather quickly I would assume. Then we might start to figure out more clearly what we are going to get. The court should be relied on to protect the interests of all creditors, including shareholders who are also creditors in this scenario.
Stakeholders includes shareholders.
Yes, average .1034 for me, as I was slowly bringing it down with those 1000 share paint jobs. Can't wait to see the fur fly in the morning. I hope cooler heads prevail though. I want to see Speed's and others take on this. I know this wasn't the outcome some were hoping for, but then again all they did was file. For all we know, the court will throw it out.
We will see some volatility. Time to trade this one again ;)
Right. I think we are going to finally know the numbers at last. While I don't think we will see $4/share from this, there is no doubt in my mind we are going to see some improvement over where we are. Anything can happen now. There will be some who might panic and sell before knowing the facts, but we are just going to have to let it happen.
I won't even bat an eye at them.
pfrenz, you are welcome, the Stalking Horse and Section 363 asset sale (which is what this sounds like) is meant to attract other bidders. If the buyer assumes/pays the DIP loan and associated costs, we may indeed see .80/share, but we really don't know enough yet. the curtain lifts, and the show begins ...
I might have to upgrade to Premium membership if I run out of posts, lol.
pfrenz - check on Section 363 asset sales, link below
http://www.freshfields.com/practice/finance/publications/pdfs/7894.pdf
pfrenz, it sounds to me like the court would have to approve of the sale, and that a bidding process needs to be formalized first. I am going to try to preserve my posts for later today.
I found it - 10:29 pm EST Feb 20. I was searching on ticker instead of company name. Nevermind.
Jack, thanks for the non-answer. You have made 3 different posts that add up to 3 different things. Nobody knows whether they are coming or going, and that certainly hasn't changed in the last few minutes. But it will certainly get interesting, no doubt.
No halts on pinksheet stocks. Not sure how long it will take for the symbol change, maybe a day or two.
Seems to me we will be clocking out at about .80/share give or take. Somebody tell me this is wrong please, and why.
OT: I pretty much expect the powerful uptrend to continue this coming week. We might be pushing through an old zone of resistence right now but lately every time we thought it would stall we would see it blow through. In the short term the only thing that could derail the rally temporarily is a delay in the PSC signings (scheduled for Feb 28). Check out the periodic DD postings by bullwriter on the ERHE RB board. The more you read, the more you like. ERHE is a great speculative *long term* investment, and an unbelievably complicated Cinderella story. You can't make this stuff up.
Thats it - I took out the Cap'n Crunch out too early - as I recall the groundhog saw his shadow on Feb 2 and went back into his hold for 6 more weeks of winter. Damn this is all hard to keep stright. I'll get it.
Oh now I'm jealous. I got something different off my Cap'n Crunch decoder ring. I wonder if I have my settings right. Hmmm . . . shoot now I'm really lost. Why's post last week about the BOD really caring about the shareholders didn't even decode, I wonder if I should have run it through backwards or something.
bio, it could have been a market sell, but more likely a short-term trading group dumped to flip their shares and moved on to another stock. IMO we will keep moving because insiders are holding/accumulating, and there are a lot of people who are still holding from higher levels.
Looks like we are sitting at 50% retracement from run which began from last support at .14 - no evidence of the company selling shares. Normal profit taking, higher low established.
So starboy, you think in terms of a 3-day P&D. Would never have made it here from .03 if that were the case. The 200 MA is still .45 on this one. Lots of room.
I noticed the bid got hammered out again today -
OT: pfrenz I noticed the bid got wiped out on QBID again . . . I recommended to stock-up on RB that he buy everything he could at .0002 so some of the .0001 flippers can make a little profit.
I think the word is slowly spreading amongst the traders. This can pop just because it can. More and more stocks all around us are popping with no news at all, on just momentum only. I think any kind of whiff of solid news can set this off.
Oh thanks, Why - I was just getting sleepy. lol
'This should all come out right after the big board meeting tomorrow morning'
speed - I suspect that the ownership in WHAI has consolidated quite a bit among the top 80%, and may be more concentrated among post-crash longs, and maybe in the end, Capsource. I still hold out for the possibility of a debt for equity swap to satisfy Capsource.
Good buy, CGM. No doubt things are moving behind the scenes, as Pfrenz was able to show us. It almost sounds like everything could be settled out of court, and WHAI can remove its shroud of secrecy and get back to business. Maybe.
On every forebearance extension there is a reference in the 8K to an Exhibit A - Cash Flow Forecast. Has anyone seen this, and does it ever change ?
5. Cash Flow Forecast. The parties agree that the Cash Flow Forecast attached hereto as Exhibit A shall constitute the Cash Flow Forecast for the period from the date of this Amendment to the Forbearance Termination Date
tiger3 - good to hear no P&D. A common practice is for sellers to post a pump message or two just to create a little bit of strength to sell their shares into. I agree this stock is wound pretty damn tight, figure with a .08+ share price and o/s approx 50M tightly held, and probably with a tiny trading float, this stock is ripe for a run. IMO we can go to .50 with no news whatsoever. All it would take is someone to come by and give it a good push and set the alarms off, and the momo crowd will rush in and it will be party time for at least a few days.
OT: logo - I started following SGID just a little, but they just came out with a bad Q, still bleeding red ink. I like the company, but don't know what they have to do. I also like WLSF since they finally got their cigarettes to market, looking forward to hearing sales numbers, etc. ERHE and their rights to West Africa offshore oil acreage with partnerships, expect possible big move over the next 3-4 weeks. Long and convoluted story there.
69 - will see if tiger3 ever posts again, if not then he did a little pump-n-dump.
RON66 - I say it is possible we can get a momentum run on no news, just on rumor real or manufactured. We have had a couple of those, and we are probably due for another. Trade for a profit if you think you can, or wait for the real news.
If we have a traders run coming, we will pop and end up just about where we are at now. If you are truly a long investor this will not affect you at all. Of course real news can strike at any time, including during a momentum run then we can shoot the Moon, and beyond. A LOT a stocks are popping all around us, and it just may be our turn, thats all. Lets get it on !!
Battle of the Tape Painters - live at WHAI
QBID no bid = financial backer died ? Really ?
DISH might sign.
I went to the Vitamin Cottage on W Alameda Pkwy in Lakewood, CO and bought their last two bottles of Ginseng Rush. I asked their customer service if they had any more in stock, but they were out and expecting more either Monday or Wednesday. They had just restocked their cooler earlier that day. They are selling, no doubt !! I tried it for the first time, and it is very tasty and really loaded with ginseng. I used to take little bottles of Panax ginseng and pour them into a Coke to get the same kind of energy boost, but Rush is a lot smoother.
It cost 99 cents where I got it. Hopefully Corr can produce enough to satisfy demand before he expands distribution. I think Rush can become a strong player in the specialty beverage arena, and be a commercial success too.
Now that makes sense. Ginseng does prolong life. In fact I heard of old Chinese folks who ate a lot of genseng all their lives would live on and on long after their minds were gone.