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Well, well, somehow "I told you so" just doesn't do it. Federal judges have better things to do than sit around and listen to heresay drivel paraded around as factual allegations.
QSGI has 15 days to re-file, and I suspect it will immediately be kicked to the curb without 400 boxes of discovery accompanying it. On the 16th day, we'll never have to hear about this again.......unless IBM goes after QSGI for libel. Hmmmmm
It's also called a countersuit, and in this context, is probably more appropriate. Sure, I'm guessing, but it is an educated guess. Not wild arse speculation about huge pretrial settlements. Not gonna happen. Checkmate. Game over.
No, let's really be real. QSGI tried to bluff out a quickie small settlement, a task Sherman decided would line his pockets. Unbeknownst to Sherman, IBM would get down in the mud with him and play his game. In comes discovery. QSGI declared they had relevant info, 400 boxes worth, and agreed to hand it over, and IBM agreed to QSGI's timeline. Those came and went. Checkmate. Bluff called. This is about to be kicked out. QSGI is withholding evidence.
Has a counter-suit by IBM been filed yet? or was that in their initial response? QSGI will end up paying IBM.
They're going to end up owing more money in attorney's fees to IBM than they have in the bank.
Still not attractive at 50 cents. Parent will most likely file, imo.
SDNY = worst place to file
Delaware = better
Texas = best
Can we get a photoshop guy in the house to change that dirt to manure?
http://ih.advfn.com/p.php?pid=nmona&article=51499041&symbol=CHMT
Craigy and Stevo are good at that.
He may not be, but that doesn't mean the other party isn't stupid, and those are the guys that you will depend on to get this current. Sometimes a 'deal' isn't such a good deal. This will take a long time and whoever these no-name miners are may just throw their hands in the air and start over. I googled all over and couldn't find squat about DesarrollosMineros SAS.
Very true. They probably don't even have the cash to get current with the financials that everyone is clamoring for. Why else haven't they been released? Something to hide maybe? Or just nothing to show, lol.
Share buybacks require disclosure and they don't get 60 days to do it. If they did something like that without disclosing, the SEC would be all over their ass for insider trading.
Is that some sort of challenge? Show me your chart? Okay, I believe I will. And that CHMT chart will actually be my chart, not borrowed from stockcharts or some other place.
You keep up the good work, you hear? 100000 posts, over 800 boards moderated......you're taking over ihub. You go.
One of these days, a competitor will come along and not put up with it.
Same status, no trading, no symbol, nothing. Got 5 paper weights in my account still.
We are talking about the same Sherman that drove it into bankruptcy?
I don't know about that, but at least the pump/dump and hype will have played out.
There's a lot of people here who have lost significant amounts of money. I doubt they agree with you.
QSGI itself is not a scam. It is managed by suspect people who have ran 'scams' before. The enterprise value of the company as touted on this board is a scam. It isn't worth a dollar/share, not even 8 cents a share.
Once this settles around a penny, then it is no longer a scam.
According to the court docs, a plan support agreement was reached with an ad hoc group of noteholders representing 70% of the outstanding notes. The agreement calls for the sale of all of the businesses and a winding down of the estate.
In other words, this is a Chapter 7 liquidation executed within the guise of Chapter 11.
There will be no re-organization. This is a garage sale.
Equity Committee Appointed just a bit ago
Talk about a slow dying scam. I know what an incinerator looks like that has a steam co-gen by-product, which is what this is (supposedly), although they want to use some 'patented' (I'd like to see that) oven bake 2 step deal, which won't work....but jeez, really? A few pics of a 30 year old Cat 12 motorgrader and a CMU/metal building in the middle of no where and this thing still trades like it does......amazing.
Sorry to inform you, but you don't. They also file this once they pass the threshold of going from an over 5% holder, to an under 5% holder. In this case, they went from over 5% to a zero% holder. They sold out. Funds with a certain amount of assets (large) don't have to make a filing within 3 days of selling out, they can wait until their next regulatory required time. If you notice, all the big funds will make disclosures within 45 days of the Jan 1, which is the amount of time give by the SEC. That is why you will see a rash of these filings up right before and up until Feb 15.
They had a bunch and they dumped them all. That's it. That's all.
Comprende?
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5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
0
Owned by
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Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
0
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
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11. Percent of Class Represented by Amount in Row (9)
0.0 %
Just regulatory house keeping. They sold out and finally reported it.
Given your username, here is a quote that you may understand "Oscar Wilde -
- The basis of optimism is sheer terror".
Afraid of the truth, eh?
Man that thing looks like a disaster. 10 million in assets against 166 million in liabilities. If they don't 'find' some assets in the next few months, the lawyers will eat the available cash up in no time.
Jax are you going to China this weekend on recon? lol
Funny you should mention selling patents. Since they filed BK, they don't even have to if they don't want to. They can do a rinse and repeat with the equity holders and just do a lucrative debt for equity swap with their debt holders.
As NITE is to Scottrade, HDSN is to Fidelity.
It should be around 85% stock based on the $13.45 valuation and around 15% cash. It should be in the realized range of around .058-9 per old share.
That's what I'm thinking anyways.
sshhhhh....he's busy loading at .035, lol
The jurisdictional argument was made by TPS also. Their appeal should have an effect on the LTW's. Mr Bush has also raised the jurisdictional argument. A notice of appeal is all that needed to be done, then followed by briefing. The jurisdiction argument can be raised for the first time on appeal.
Funny how no one wanted to hear what I had to say, now the same folks wonder where I'm at. Even I didn't think the judge could get it this wrong, but I digress.
Going to be a ton of bag holders here, just like AMR.
Based on SDNY/Lazard, it should be trading under a nickel tomorrow.
Well, since they have hired Lazard as their financial advisors, recovery for shareholders went from extremely unlikely to probably not a chance in hell. If Dan Aronson is involved, forget it.
Southern District of New York combined with Lazard is tough.
Only took 9 days.
The most telegraphed BK in history.
Since everyone's beloved Art couldn't accomplish the task of making it clear to Judge WalTF that it was impossible for WMI to claim to be the owner of the litigation proceeds (upon which she based her decision), I'm probably going to just go ahead and appeal her erroneous decision as a matter of principle, amongst numerous other reasons.
WMB was seized and long gone before WMI filed for BK. It is impossible for WMI to own the litigation because to have standing to be a party to a suit based on FIRREA, you must be a bank, not a holding company.
So as a practical matter, Judge WalTF lacked jurisdiction to try to re-write history with a 363 sale based on the false theory that WMI owned the litigation as of the day of BK filing. Not true. WMB owned the litigation. WMI may have controlled the litigation up to the point of the seizure, but that is moot once WMB was seized.
No symbol, no trading...probably for the duration of the bankruptcy process, ie at least 2 years, then they will be cancelled.
In summary, this will most likely never trade again.
A private transaction will be the only way to get them or dump them.
If someone had a sizeable position they want to get rid of, about all I'd do is 50 cents per.
The new plan and lawsuit will take years to see results. This thing will be over within 30 days.
How long do you expect to be in a coma?