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test
thanks CEMJQMM
I guess where the EC lost this mostly, as I see it, is when they were naive enough to allow the exclusivity to continue knowing the May 20th meeting results.
I guess they felt that they could blow away the POR with a strong plan, but never had such a plan, as when i look at what they proposed, I too was a little concerned about the debt and lack of committment from investors
ok I hope that they will, as it appears that that PR was as mis-leading a piece of SH-T as has ever been put out
Jax
thanks for your review and thoughts.
One thing stands out very high, is that when you recap the May 20th meeting, it was apparent that they knew where the POR was heading, and that the EC was NOT ON BOARD.
Yet in the May 25th press release, they indicated that they "were in active and ongoing discussions with its official unsecured and equity committees in an effort to reach a consensual POR"
am I missing something, or is this a total conflict of what happened on May 20th????
In light of the rulings in court yesterday, please help me understand why the price of the stock is at .40c
certainly the idea that there MAY be funds left over from the set aside monies would not be the reason, so I need help understanding why it is above the .27c estimated return from the 5% "gift" to the stockholders
I think you are barking up a tree cat. wall street has been the biggest supporter of this board and the whole EC alliance. without him MC CEMJQ and Jax there would be no EC. If he is telling the facts and you don't want to hear them, that is your problem . This stock and the POR are the result of the company not achieving what was needed to keep the net worth positive. when it went negative, it opened the door for the debtors to steal this company facts are facts, and you owe Wall an apology
wall street.
don't know if your hands are tied about disclosure anymore, but will ask it any way.
Since UBS has done work on the 1.85B POR, is there any time issue that we would be reasonable to expect to hear about an EC POR, or are we restricted due to the exclusivity period for the compny/debtors POR
when does the EC and USB have to have a POR ready, and how does work with the compnay having an exclusive rights up to Nov 17th?????????
check your decimals. I believe that 100,000 equals 2000 is correct
thanks MC that is a HUGE relief with that out of the way, and no big surprises, then waiting for the POR is alot easier, and should allow the PPS to steady a little
before the POR comes the MOR, which should show the items they need to address to cover some of the exposures. usually it comes on the 15th. it would be helpful if they came out with the Por on the same day to offset some of the negatives
unless they do a re-organization with a "NEW" entity, and allow a % for the old stock holders.
Remember they hired a company to do fresh start accounting review, which is , not a done deal, just another possibilty. i am not an expert on this, just remembering what they did, and the pre-EC people such as WS fought so hard against.
no the net worth is now negative by a small amount
I can't get the bond site at finra to come up. does anyone have a quote on the 2026 bond???
what about the Q does this board not understand pink sheet and Q equates to high volatility. Believe Rogersons message or not that is the final answer. If he is wrong on May 25th, he has led us all down a rosy path. As for me, i think it will be ok, but risk and reward are connected. we understand what the reward might be, but don't lose sight of the risk also
this stock is sponsored by the makers of nitro glycerin.
make sure you have a large supply for the daily heart attacks happening with every down tick
in addition to the market action, the action on CEMJQ is acting a lot like a stock does after they announce a secondary.
this action may be an attempt to find the conversion of the debt for equity level. Just a wild guess
1.05
SCARY!!!!!
where are the bargain hunters
there is no distinction of before pr after
you got your wish
could be, but I think they were on the EC, and owning bonds would have been a conflict of interest if i am right, but again JMHO
as i understand it, the number of shares you own does not change, so if you own 100,000 you would still own 100,000. what happens, is additional shares are added to say convert debt to equity, and the total shares increase therefore causing dilution by your shares being a smaller percentage of the total. lets say they add 500,000 shares for the debt to equity swap, your total sharesa as a % would be devided by 740,000 vs the 240,000 that presently are outstanding.
using this example, and it is only an example, if the total 1.1 billion bonds were converted to equity, then the present equity would be 1 billion and devided by the theorectical 750,000 would bring a book value of about 1.35.
a reasonable value may be a x factor of the equity, but I doubt we would get much above 3-5 share, but who knows what it would be. this is just an example. so your 100,000 would be times that value( $3-5 in this example)
I am open to other point of views
technically correct, but IMHO they are not ready to file a POR until they get a better handle on the eviromental court issues and the diacetel exposure, so to expect a POR in 10 days or there abouts i think is un-realistic
On May 25 the company said "they are finalizing an agreement with an existing ad hoc committee of confidential terms that will allow Chemtura's largest bondholders to engage in direct negotiations with the company regarding the terms of a Chap 11 plan"
I don't believe that the terms and negotiations to bring all parties together will happen until they have a better understanding of the liabilities on the enviromental and diacetel liabilities, therfore the need to extend the exclusivity period.
Again JMHO
no POR in 10 days they got another extension of up to 90 days
Jax
time to go back to the shore. we need a litle up day
LOL!!!
Chemtura Corporation Announces Certain Brominated Flame Retardants on Sales Control 05/26 12:03 PM
PHILADELPHIA--(BUSINESS WIRE)-- Chemtura Corporation (CEMJQ:$1.5800,$0.2100,15.33%) , debtor-in-possession (“Chemturaâ€), today announced that it will place Tetrabromobisphenol A (BA-59PR), Decabromodiphenyloxide (DE-83RR) and Decabromodiphenylethane (FiremasterR 2100R) on sales control while implementing 30-day maximum price validity on these product lines.
Anne Noonan, Vice President & General Manager for Flame Retardants, Brominated Performance Products and Fumigants, stated that “this action is necessary to continue high levels of service to our customers in all regions of the world. Higher than anticipated demand for these product lines coupled with supply constraints on several key raw materials requires action that will assure our loyal customers of availability of product to meet their customers’ needs.â€
Bromine derivatives and flame retardants are used in a wide variety of critical end applications including electrical and electronics, building and construction, fine chemicals, transportation and oil production.
Chemtura Corporation (CEMJQ:$1.5800,$0.2100,15.33%) , with 2009 sales of $2.5 billion, is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. Additional information concerning Chemtura (CEMJQ:$1.5800,$0.2100,15.33%) is available at www.chemtura.com.
Source: Chemtura Corporation (CEMJQ:$1.5800,$0.2100,15.33%)
Get more news on:SYMBOLS: CEMJQNEWS TYPE: SECTORS: Chemicals, Metals and Mining, Materials
I'm taking up a collection to keep Jax at the new Jersey shore which was when the pop to .48 happened last year
LOL!!!!
a little good news would help. jax do you know of any new court dates and issues that might move this thing????
based on my watch list, it looks like some buy programs just kicked in, but CEM is not responding accordingly
we need to see a whale feeding
where are the WHALES
time for the bargain hunters to take control and jump in while the cheap shares are still available
bot more at 1.43 thinking that was a bargain, now my well is dry
market opening looks ugly. may be a good idea not to look for first 2 hours, and hopefully we will settle down.
CEMJQ is at a chart pivot point, and important that it does not violote the 1.47 50DMA
and for those who do not believe in charts, charts are a short term trading process, while fundamentals are a "INVESTING" philosophy, and I believe there is room for both
test
stuck and accumulating at 1.495
closed right at the 50DMA
we've seen this play before, and it always ends rthe same, with a recovery back to the old highs . At least I put my money on that happening
I'm not a whale, but have been feeding, but this is painful.
OUCHHHHH!!!!!!
its market based not CEMJQ