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Do you have a link to that? I just looked at their financials and their last quarter was really good ( $115,738,000 net income ). I'm surprised their share price is at $1.26 AH
still not trading yet...
Yup... the EC has been approved and the judge has ordered a compensation for 250k in lawyer fees to proceed. Wow. The EC has to get approval from the judge on who they choose to represent them. He doesn't care how they spend that money, but he wants to make sure they're doing it right. I'm flabbergasted.
Looks like the EC is approved. The judge is offering a recommendation of asking for certain lawyers to represent. Holy crap.
No, that whole dismissal motion was just a front to get EC approved.
The judge wants contacts for the EC in the next half hour. He's definitely going that direction of establishing the EC with a budget. 1130 CST is the next hearing.
Half hour break before judge grants EC and the budget for it.
One of the things I found interesting is how it caught the judge off guard with asking for BK dismissal. He was like "Why are you asking for dismissal and an EC? Those two things can't happen together." Then it was like an "Ohhhh, I see what you're doing. You're pushing to get your voice heard in this situation and you've developed a great approach to it."
No, he's definitely not going to dismiss the BK. This was shareholders asking for the BK to be dismissed or to grant them EC. It was pretty much one of those "You're either going to grant BK dismissal or let our voices be heard" situations.
The hearing summed up:
The judge was very pleased to see the argument made by an ad hoc of investors to establish an equity committee for the right reasons. The judge has been involved in bankruptcy cases for decades. He believes establishing an equity committee to get answers about why JC Penny claimed bankruptcy is a good path. He doesn't want to see a bloodbath of arguing between the company, debtors, and shareholders. However, he is not adjourning for another 20 minutes. This judge is something else... didn't expect to hear what I heard today... at... all. I'm impressed....
Even if they do accept a buyout offer, it's similar to a union fighting for worker rights if that makes sense.
That is if the stock is wiped out and JC Penny doesn't come out of bankruptcy.
Shareholders are the last to get anything out of a bankruptcy. An equity committee is there to help say "Shareholders will get X amount per share" in the end.
It means that shareholders have a chance to recoup their money.
Dude... this judge is definitely leaning towards that.
wow... The judge is leaning towards granting the equity committee.... ohhhh buddy
Listening to the BK hearing right now. Essentially, this is an ad hoc for an equity committee and the dismissal is just the ad hoc calling for it so shares remain intact. This isn't a hearing with JC Penny. It's a hearing from shareholders. The judge is working his way through the presentation to understand what the shareholder ad hoc is asking for. He's trying to make sense of it all of what the ad hoc is asking.
If you're using the phone app, it wont let you. You'll have to use the computer platform.
Wow... there's hardly any change between last quarter and this quarter. The CEO didn't even include any kind of revenue on the quarter filing.... wtf. Wow..... this is definitely a pink stock play.
Thank you for the response.
It seems like the Minella's have had the restricted stock for over a year now. I'm just eager to see financials come out on this one.
Usually I sell stocks once I've hit 100%-150%, but I'm holding this one because of the share structure, the lucrative progress of the company, and the zero dilution. I just want to see those dang financials.. I wish it was an OTCQB stock.
Just need to see some news on financials or something to get a better idea of where the PPS should be at.
Here's what I find interesting about this company and I need to dig deeper to see what the reality is behind this stock.
The CEO owns 70,000 shares of this stock which is less than 1%
Geils & Co LLC / Geils Ventures, LLC (owned by Alexander Minella) owns 4.295 millions shares which is 40%
Melodie Minella (which I assume is Alexander's wife) owns 850,000 shares which is 6.2%
Realistically, the Minella's own 46.2% of this company while the CEO has less than 1%. So the real question is what are the intentions of the Minella's? Are they going to let the CEO do whatever he wants for business? How much influence are they going to have on the stock i.e. have the CEO dilute to pay them anything? Are the Minella's going to use this as an ATM? That's what I'm trying to wrap my head around. Obviously the Minella's are venture capitalists, but they've got a lot of pull on this one against common shareholders.
TriFecta of pain as the locations are in Florida, California and New York Yea, it's definitely a Trifecta of pain since they most likely wont be labeled as "essential" according to the Department of Health. However, maybe they have a trick up their sleeve to where they could become "essential." Will it dip to $2? Well... they just borrowed 150 million against their assets, but they did it with confidence. I see this recovering quite well after this corona fad.
I sent a request off for their tax filings.... just found out I needed to attach $20 to my request :/ . Guess I'll be re sending the request with money EOW
You should review this post.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=130523229
Some of us here are connecting dots to show what's actually going on.
Here are two documents that say otherwise.
Brandy Simmons (Secretary) electronically signing an annual report with the State of Florida in 2008. This document shows the transfer between the old owners to the new ones.
http://search.sunbiz.org/Inquiry/CorporationSearch/ConvertTiffToPDF?storagePath=COR%5C2008%5C0505%5C20785002.tif&documentNumber=P07000067539
Brad Simmons signed this document and fully explained the breakdown of his business seen here.
https://www.otcmarkets.com/financialReportViewer?symbol=BLLB&id=11629
What you're seeing here is a Company (Bell Buckle) that went public in 2007 by merging with Digital Color Print Inc. By the looks of it, they're still not private.... they just haven't bothered with this trading symbol, the TA which is https://www.transferonline.com/, or the registered agent. Because of it, the state of Florida lists them as inactive and rightly so because they never filed anything after going public. (seen here http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=BELLBUCKLEHOLDINGS%20P070000675390&aggregateId=domp-p07000067539-a2cc704b-9cb4-4bdd-99d3-3ec41843b40b&searchTerm=bell%20buckle&listNameOrder=BELLBUCKLEHOLDINGS%20P070000675390 )
The key is to find out if the company is willing to do SOMETHING with this since they still have ownership of this stock. It hasn't gone away....
Agreed. I'm still a little perplexed by their entrance into the stock market and then immediately going dark. Mhinsea mentioned that it was their dad's doing, but he passed away. The paperwork filed in 2007 was of the son doing all of this though, not the dad? Maybe his dad was going to walk him through it all? I'm not sure. Guess we'll have to wait and see what mhinsea finds out come Wednesday.
Completely agree with you on this. However, they haven't gone private. They still have a stock ticker. They've just chosen not to file anything after 2007 and have left it at that.
On a side note, you know you can request their annual tax returns from the state of Tennessee. I just sent a request for them through the Secretary of State. Will be waiting to see their earnings over the past 2 years.
mhinsea, can you shoot me a PM with your contact info? I'd like to talk to you about what I've found in regards to this.
mhinsea, can you shoot me a PM with your contact info? I'd like to talk to you about what I've found in regards to this.
Wow. I'm glad I got out of it today.... they're making quick haste of this bankruptcy.
It's going through Chapter 7 bankruptcy. This stock is shot. It was good for a .0018 to .003 bounce play, but nothing higher. There most likely won't be any news. Their last PR was a "good bye everyone, this company will be dissolving under bankruptcy." If this was a Chapter 11, it might've been a different story.
I've seen plays like this before. With the information the company has released, whether it fraudulent or not, will make this stock go into the pennies. How many pennies? I'm not sure. Any of you played EESO back in the day; you'll know what I'm talking about.
$TINO - BxA = 75000 x 10000!
10,000 shares left on the ask!
$TINO up 7% on little volume!
Low float play right here!
#TINO up 7% on thin air!
If TPAC wanted to uplist to OTCQB:
SEC Reporting Companies
Initial Requirements
Meet an initial minimum bid price test of $0.01 as of close of business for each of the previous 30 calendar days
Complete and submit OTCQB application and applicable fees
*MET*Be current in all periodic reporting requirements on EDGAR (or for companies not required to file on EDGAR, post SEC disclosure on the OTC Markets website)
*MET*Post on the OTC Markets website:
OTCQB Initial Certification (see below for details on Certification requirements
Ongoing Requirements
Meet an ongoing bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
Post current SEC disclosure on EDGAR, or for companies that do not file on EDGAR, post current SEC disclosure on the OTC Markets website
Post on the OTC Markets website
OTCQB Annual Certification
That "minimum bid price test of .01" would probably be the issue. He needs to continue to reduce the OS and AS