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No need to,LOL! court docket #14 is very clear! but I could try in three other languages, LOL!!! SUNE BK case could very well be part of some finance/law courses in the future. Hopefully the first MOR document will give us the next hint...
People!, please read the court documents! SUNEQ- NOLs $1.7 Billion
at the end is the extract of the court document...
Is true that 9 out 10 BK stocks do wiped out shareholders but this have the potential to be that 1 in which shareholders survive( obviously diluted but not wipe out). Their business model works and is growing. Their problem is liquidity, simple as that. The CEO took advantage of the easy lending/money ( courtesy of the FED/banks/hedgefunds) to grow(phase one) until no more money was available. Now with phase two( BK process), SUNE basically accomplished two things, time and protection. In this phase SUNE will collect money/revenues (previously destined to pay interest/creditors/loans) and used it to finish many projects, sell them and pay back creditors/loans very slowly under BK protection. At the same time will still hold the title of the worlds largest renewable energy developer. . Phase three will be SUNE out of BK, leaner, stronger and still holding the title, WORLD'S LARGEST RENEWABLE ENERGY DEVELOPER. Now please!!! stop the speculation and pay attention to the court documents( so far shareholders are in the equation IMO)...
Court Docket-#14
RELIEF REQUESTED
8. By this Motion, the Debtors seek entry of an order establishing, pursuant to Bankruptcy Code sections 105(a), 362(a)(3) and 541, notification and hearing procedures for certain transfers of equity securities in SUNE or of any beneficial interest therein, including Options (defined below) to acquire such equity securities, that must be complied with before such transfers of equity securities are deemed effective. The procedures for trading in equity securities of SUNE are necessary to protect and preserve the value of the Debtors’ U.S. federal and state tax attributes, including but not limited to, significant net operating losses and net operating loss carryforwards (“NOLs” and, collectively with any capital losses, unrealized built- in losses, and certain other tax and business credits, the “Tax Attributes”).
9. If no restrictions on trading are imposed by this Court, such trading could severely limit or even eliminate the Debtors’ ability to use their Tax Attributes, which could lead to significant negative consequences for the Debtors, their estates, creditors, stakeholders and other parties in interest. To preserve, to the fullest extent possible, the flexibility to maximize the use of the Tax Attributes, the Debtors seek limited relief that will enable the Debtors to closely monitor certain transfers of SUNE’s equity securities, so as to be in a position to act expeditiously if necessary to preserve their Tax Attributes. Thus, the Debtors request that this Court immediately enter an Interim Order, thereby preserving the status quo in this regard.
???3
Declaration.
Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the First Day In addition, the Debtors request that this Court schedule a final hearing within approximately 21 days of the Petition Date to consider approval of the Motion on a final basis.
THE DEBTORS’ TAX ATTRIBUTES
11. The Debtors have generated, and are currently generating, a significant amount of NOLs for U.S. federal income tax purposes. As of December 31, 2015, the Debtors had approximately $1.7 billion of unlimited NOLs that were available to offset taxable income. By the Motion, the Debtors seek authorization to protect and preserve the value of their Tax Attributes, including, without limitation, their NOLs. While the value of the Debtors’ Tax Attributes is contingent upon the amount of the Debtors’ taxable income that may be offset by the Tax Attributes before they expire and any existing limitation on their usage, the Debtors’ NOLs and other Tax Attributes could translate into potential future tax savings for the Debtors.
12. The Debtors’ Tax Attributes are a valuable asset because the Debtors generally can carry forward their Tax Attributes to offset their future taxable income and, therefore, their tax liability, thereby potentially improving liquidity for working capital requirements and debt service. In particular, the NOLs may be available to the Debtors to offset taxable income generated by ordinary course activity and other transactions completed during the course of these Chapter 11 Cases. Additionally, the Debtors can carry forward the NOLs that are not subject to a Section 382 Limitation (as defined below) to offset their future taxable income, thereby potentially preserving cash for the benefit of their estates. See 26 U.S.C. § 172.
POTENTIAL LIMITATIONS ON THE USE OF THE DEBTORS’ TAX ATTRIBUTES
13. As a general matter, if a corporation undergoes an “ownership change” Section 382 (“Section 382”) of title 26 of the United States Code, the Internal Revenue Code of 1986, as amended (the “IRC”), could severely limit or eliminate the corporation’s ability to use
their Tax Attributes to offset future taxable income. Under Section 382, an ownership change occurs when the percentage, by value, of a company’s equity held by one or more persons holding five percent or more of the stock (in certain cases, taking into account Options to acquire such stock) (the “5% Shareholders”) has increased by more than 50 percentage points over the lowest percentage of equity owned by such shareholders at any time during the preceding three- year period or since the last ownership change, as applicable (the “Testing Period”). If there has been a prior ownership change, the Testing Period for determining whether another ownership change has occurred begins on the first day following the date of the prior ownership change."
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The most specific answer I got was "when the judge is ready".
Same as 2015. IMO everybody is waiting for Judge Gregory M. Sleet decision. If the judge decide in favor of TGICQ then anything can happen. Don't know about the rehab plan. I assume is moving as projected with a positive forecast based on the current market conditions. Anyway the important event is the judge decision.
You already got news a couple months ago. They finally got cleared from the lawsuit. Now is all about the NOL appeal. Here:
Triad Officers Cleared In Securities Class Action Suit
By Ben Conarck
Law360, New York (March 31, 2015, 1:30 PM ET) -- A North Carolina federal judge on Monday dismissed a proposed securities class action accusing officers of mortgage issuer Triad Guaranty Inc. of misleading investors over the soundness of its modified insurance pools and the inherent risks involved, saying that the complaint did not sufficiently plead scienter, among other deficiencies.
U.S. District Judge N. Carlton Tilley Jr. went against the recommendation of a magistrate judge, ruling that the plaintiff’s allegations as a whole did not sufficiently plead scienter to the extent that it was at least as compelling as any other inference one might draw from the alleged facts, and granted the motion to dismiss filed by individual defendants former Triad President and CEO Mark K. Tonnesen, who has since retired, and former Senior Vice President and CFO Kenneth W. Jones, who is now the CEO and principal finance officer of a Triad subsidiary, according to its website.
http://www.law360.com/articles/637449/triad-officers-cleared-in-securities-class-action-suit
No, you won't. This was probably a computer algorithm moving pennystocks plays back and forward. They just cleared their position.
Sold Positions
This fund disposed its stakes in Ishares Tr Russell (IWM), Powershares Qqq Trust (QQQ), Triad Guaranty Inc, Kraft Foods Group (KRFT) and American Leisure Hldgs (AMLH). These securities constituted 0.46%, 0.45%, 0.44%, 0.17% and 0.08% of the manager’s portfolio, respectively. We can only speculate about the reasons for this selling but we believe it has to do with either value, momentum or a better place for Welch Group Llc’s capital.
Read more: http://www.octafinance.com/top-10-welch-group-13f-holdings-in-q3-2015/237211/#ixzz3pVSH5bzS
And they sold their entire position on Q3.
Sold Positions
This fund disposed its stakes in Ishares Tr Russell (IWM), Powershares Qqq Trust (QQQ), Triad Guaranty Inc, Kraft Foods Group (KRFT) and American Leisure Hldgs (AMLH). These securities constituted 0.46%, 0.45%, 0.44%, 0.17% and 0.08% of the manager’s portfolio, respectively. We can only speculate about the reasons for this selling but we believe it has to do with either value, momentum or a better place for Welch Group Llc’s capital.
Read more: http://www.octafinance.com/top-10-welch-group-13f-holdings-in-q3-2015/237211/#ixzz3pVSH5bzS
http://www.octafinance.com/top-10-welch-group-13f-holdings-in-q3-2015/237211/
To be honest, I no longer think about anything related with HIPP. Once I saw the news about their merged with ESW other business I connected the dots. The value of the other business(Aurea) is superior to the value of HIPP NOLs. Simple as that. I really wish to be wrong and FORTY be 100% right!. In that case our 1M shares will become a lovely "mini-treasure". But the reality is other, this is over. Anyway, the drama here was really entertaining but is over... Unless Forty know something we don't.
Forty I was with you. I believed in the value of the NOLs and the benefits that ESW could have taken from merger. But the reality was other. Is so obvious that they need HIPP's patents and business model to gain a competitive advantage and save the other business. Just look at that business. Remember is not about our "view" of business strategy and "potential" business model but their view and goals. We just finally saw their "view"...
I wish to be wrong and see HIPP back. I still hold 1M shares so if they are back I will get the benefits. But the reality is other.
Is not coming back, is over. They finally revealed the reason behind it. They don't want or need the NOLs. Is very clear, they bought HIPP business model and patents to save the other business, simple as that!...
Thank you. Finally we got the answer. It was never about making hipp profitable or growing. It was all about saving their other business,Aurea. No wonder why they never show interest in the NOLs. Lesson learned!!!
I was here the entire time, but there was nothing else to say(you can review my previous posts). Everything is in ESW hands. My bet was the benefits of the NOLs. Obviously ESW doesn't see those benefits...
And your point is??? Right now is over unless ESW have a change of heart and decide they want to use the NOLs via a RM(reverse merger). Otherwise this is over. Shares are currently cancelled and prohibited from trading.
interesting, with less than 1M shares the PPS go over 70%. What happen to the dozens of million shares available?? Did someone bought them all in the past weeks?? WHY?? Did they know something? ESW willing to take advantage of the NOLs...
What? If that is the case then we are going to be include in the new entity. There is no way they can preserve the NOLs( IRS is very specific about that) unless they include us. Something doesn't look right... Thank you very much for the info.
This week is going to be the same pattern, between 1-2 million shares per day or less than 7 million shares per week. By the end of the month any small trader should be out. Only the believers of a potential change will be here, holding the last hope that someone will be able to change ESW mind and allow a little piece for current shareholders in exchange of millions in NOLs for ESW benefit...
Unless big traders decide is time to have fun with the Q symbol.
I would be very very happy with 5 cents or higher. Is possible?
Thank you. It just that the action at the end look intriguing. Someone decided to make an effort and grabbed shares at the end of the session.
Any update?
I "hope" that you have the power and the resources to do something in the name of all shareholders. I'm counting on you. Is unbelievable that ESW is not taking the benefits of millions in NOLs. Let see if they have a change of hearth...
Thanks, I still hope for a change before they get to vote and include us for the benefit of the NOLs...
Anything new from the court documents??
The support is there to buy from any retail player that is willing to take a loss. How long before they decide is time to move the PPS is the big ???.
yes, the NOLs stay with the current equity holders(shareholders). The discussion is very clear, does ESW want the ++$65 Millions in NOLs? Yes or No? So far the answer is no but someone keep buying shares! Can the person buying shares change ESW mind and say YES to NOLs?? That's the one million dollar question... My bet is YES at the end...Let see if I'm right...
TOTALLY AGREE!
Hopefully this time we get +0.01...The value is in the NOLs.
Great! thanks! Let hope that U.S. Trustee understand the benefits of the NOLs and the arguments in favor of including the shareholders when you have more assets than liabilities. Do you have the details??
Yes I am. Exactly. June 3 confirmation hearing. June 10 effective date
You need to contact HIPP, Trustee or file an objection.
Amazing, less than $5,000 in trades. I guess that the people looking for a quick trade are finally gone.
The plan is not going to be confirm until June 3,2015 and the effective date is june 10, 2015. March 31 is another hearing to move this forward. Until the plan is confirmed, they can include the shareholders in the new entity if they want to preserve the NOLs at the end. Someone bought millions and millions of shares for nothing?? I don't think so. If that is the case then I expect a super/mega pump over at least 1 cent so they can unload those shares... It was cheaper to bid for the assets than to offer a plan. Something is not right.... In the meantime someone is buying...
When you add the 2014-15(march2014-feb2015) losses, the NOLs should be in the north of $80-90 million. Anyway the NOLs is quite substantial...
Update your numbers...from 10-K Feb.2014...
"As of February 28, 2014, we had approximately $65.6 million in federal net operating loss carryforwards available to offset future federal taxable income. Federal net operating losses will expire in tax years 2025 to 2033. We also had approximately $45.5 million of state net operating loss carryfowards, which will expire in tax years 2014 to 2033."
http://www.sec.gov/cgi-bin/viewer?action=view&cik=1137204&accession_number=0001415889-14-001488&xbrl_type=v#
yes, agree, We have to remember that January and February are part of the low season period in HIPP business model. Those numbers are telling that this year they could do over $30M in revenues. Also the account receivable/account billed are much better. This month(March) is the real one. Now more than half of BK expenses are gone and the low season is over. They are profitable!!!!
Old news! Don't you see the PPS reflecting those news!?? We are under 0.01. That was the draft document not the actual plan of reorganization. Only the people in the know have the details. And those people bought over 10 millions of shares two weeks ago. Now we are waiting for the real plan to become public.
Please pumpers don't start with your BS&$@"@. There's nothing to celebrate unless the PPS go over 0.006 mark. Let the people in the know and the MMs move the PPS quietly!!! Silence create expectations!
I'm talking about now. Yes, last week(part of the last two weeks history) you and others were able to grab shares in the zone of 0.002-0.0025.
you're late. The people in the know already bought over 10Million shares(go back to the PPS history). Now they are taking the remaining retail traders out. And moving the PPS up without making too much noise.