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VLTC wasn't this a delist threat?
GALE R/S 1-20 on Nov. 11 down 14%
Galena Biopharma Announces 1-for-20 Reverse Stock Split: Shares Drop 14%
10:36 AM EDT, 11/01/2016 (MT Newswires) -- Galena Biopharma (GALE) shares fell 14% on Tuesday after the company announced a one-for-20 reverse stock split to take effect on Nov. 11.
The stock will begin trading on an adjusted basis on Nov. 14. As a result of the reverse stock split, the company's issued and outstanding shares of common stock will decrease to approximately 10.9 million shares, post-split
"Effecting the reverse stock split will allow us to maintain compliance with the NASDAQ Capital Market minimum bid price requirement, which we believe is in the company's best interests and the best interests of our stockholders," said CEO Mark Schwartz. "We are confident in the value of our current pipeline led by GALE-401, which is expected to initiate a pivotal, Phase 3 trial next year, and in our cancer immunotherapy assets currently in multiple clinical trials. We believe that this technical change to our capital structure puts us in a better position to advance our clinical programs and grow the company into the future."
Price: 0.20, Change: -0.03, Percent Change: -14.02
http://www.mtnewswires.com Copyright © 2016 MTNewswires. All rights reserved. MT Newswires does not provide investment advice.
GALE R/S 1-20 on Nov. 11 down 14%
Galena Biopharma Announces 1-for-20 Reverse Stock Split: Shares Drop 14%
10:36 AM EDT, 11/01/2016 (MT Newswires) -- Galena Biopharma (GALE) shares fell 14% on Tuesday after the company announced a one-for-20 reverse stock split to take effect on Nov. 11.
The stock will begin trading on an adjusted basis on Nov. 14. As a result of the reverse stock split, the company's issued and outstanding shares of common stock will decrease to approximately 10.9 million shares, post-split
"Effecting the reverse stock split will allow us to maintain compliance with the NASDAQ Capital Market minimum bid price requirement, which we believe is in the company's best interests and the best interests of our stockholders," said CEO Mark Schwartz. "We are confident in the value of our current pipeline led by GALE-401, which is expected to initiate a pivotal, Phase 3 trial next year, and in our cancer immunotherapy assets currently in multiple clinical trials. We believe that this technical change to our capital structure puts us in a better position to advance our clinical programs and grow the company into the future."
Price: 0.20, Change: -0.03, Percent Change: -14.02
http://www.mtnewswires.com Copyright © 2016 MTNewswires. All rights reserved. MT Newswires does not provide investment advice.
$ADD didn't notice missing neg value
Right the chart has correct values showing pos & neg with 0 volume since it's not tradeable. TDA's ToS platform also won't display volume (nor certain volume related indicators).
Usually it's enough to know market weak at same point where $ADD is near zero. $TICK seems to show negative values though. Might try that.
CASC to R/S meeting Nov. 18 1-4 to 1-10
10:16 AM EDT, 10/05/2016 (MT Newswires) -- Cascadian Therapeutics (CASC) said it plans to carry out a reverse stock split to increase its share price and reduce the number of authorized and outstanding shares.
"We believe this proposed change will make our stock accessible to a wider range of institutional investors, benefiting all stockholders," Scott Myers, chief executive of the company developing breast cancer drug tucatinib, said in statement on Wednesday.
The reverse stock split ratio is proposed at no less than 1-for-4 and not greater than 1-for-10, according to the statement. Cascadian plans to hold a special shareholders' meeting on Nov. 18 to obtain approval of the reverse split, it said.
The shares fell 8.2% in early trading on Wednesday.
Price: 1.54, Change: -0.14, Percent Change: -8.18
http://www.mtnewswires.com
Horsehead Holding Bk case, low ball assets
How Bankrupt Is Horsehead Holding? Its Investors Want to Know
Fair Game
By GRETCHEN MORGENSON AUG. 26, 2016
How Bankrupt Is Horsehead Holding? Its Investors Want to Know http://nyti.ms/2bozjn2
Guy Spier, an investor in Horsehead Holding, asked the judge for an equity committee. Credit Richter Frank-Jurgen
In large and complex corporate bankruptcies, shareholders are usually kicked to the curb, left with nothing of any value to show for their investments. Normally, that’s the way it should be: Bankruptcies, after all, involve companies whose assets are worth far less than their obligations.
But what if those assets are actually worth more than the company contends? Then shareholders are forced to leave money on the table for other stakeholders to grab, particularly the company’s dominant creditors who typically drive the bankruptcy process.
Such a situation may be unfolding at Horsehead Holding, a producer of zinc and nickel products in Pittsburgh that filed for Chapter 11 protection in February. It listed $421 million in secured and unsecured debt obligations.
Like many companies in the commodities business, Horsehead has stumbled. Spot prices for zinc and nickel swooned in 2015, and a new zinc plant it built in Mooresboro, N.C., encountered production problems.
Still, metals prices have rebounded significantly since the company filed for bankruptcy. And some Horsehead shareholders contend the company is lowballing the value of its assets to let leading creditors gain control of it at a bargain price.
The decline in Horsehead’s assets has certainly been precipitous. Just before the February filing, its assets were valued at $1 billion. Six months later, Horsehead’s financial adviser estimated that the company’s assets were worth about one-third of that.
What’s occurring in the Horsehead case has implications for any shareholder whose company faces severe financial woes, some legal experts say. Because of longstanding biases against giving shareholders any say in a bankruptcy, equity holders are often asked to trust the valuations assigned to a company without being able to verify them.
Diane Lourdes Dick, an associate professor of law at Seattle University Law School, said the Horsehead case highlighted a flaw in the bankruptcy process.
“What we have here are equity owners that are functionally shut out of the process, and that provides the opportunity for exploitation by other stakeholders,” she said. “It is yet another example of the unique challenges that equity holders face when the company they’ve invested in is in Chapter 11.”
Horsehead’s valuation history certainly seems odd. Its audited financial statements for the September 2015 quarter show assets worth $1 billion. An unaudited report from early February valued the assets at roughly the same. A KPMG report commissioned by Horsehead shareholders values the company at over $1.1 billion.
But in a July filing with the court, Horsehead’s financial adviser said the company’s assets were worth an estimated $280 million to $375 million. The main reason for the decline? The company’s decision to write down to almost zero the new zinc plant in Mooresboro it built for $550 million.
What accounts for the almost total loss in the plant’s value? Lazard, adviser to Horsehead in the bankruptcy, said it based its valuation on prices of the company’s debt and equity, both of which are naturally depressed by the company’s Chapter 11 filing. Lazard also referred vaguely to its consideration of “the latest 12 months revenue multiples of selected comparable guideline companies.”
This makes some of Horsehead’s shareholders suspicious.
“The major issue is how the company has been urging the court to believe that hundreds of millions of dollars of value vanished into thin air and a brand-new factory was deemed to be worthless,” said Thomas I. Boswell of Boswell Capital Management in Hong Kong, operator of the Intrinsic Value Limited Partnership, which owns 250,000 Horsehead shares. “To say that they’re writing off a $500 million plant basically because the share price of our stock and the prices of our bonds have fallen is ludicrous.”
Horsehead did not respond to an email seeking comment.
Christopher S. Sontchi, the federal judge overseeing the bankruptcy proceeding in Delaware, has raised questions of his own about the steep decline in the company’s worth. In an unusual ruling in May, he allowed the formation of an equity committee, giving Horsehead shareholders a chance to participate in the process. More than 1,000 individual investors own the stock.
“To put it bluntly, something doesn’t smell right to the court,” Judge Sontchi said, according to a court transcript. “There was a certain valuation scenario that existed pre-petition and there’s a radically different valuation scenario that exists post-petition, and there’s a sufficient amount of ambiguity as to what’s right and who’s right, that I believe it’s appropriate in this unique circumstance to appoint an equity committee.”
The judge ruled in favor of an equity committee after an impassioned plea from Guy Spier, a well-known value investor and Horsehead shareholder who oversees the Aquamarine Fund. Mr. Spier declined to comment.
After the committee was formed, it made some interesting discoveries. One was that Horsehead had received, and turned down, attractive bids for some of its assets just before it filed for bankruptcy. Accepting such bids could have kept the company going, the shareholders contend. Court filings indicate those bids far exceeded the valuation of Horsehead assets presented by the company in July.
Still, the court has not given shareholders much time to argue against the company’s reorganization plan. A confirmation hearing is scheduled to begin on Tuesday.
Horsehead will undoubtedly marshal a strong defense of its valuation to the court. And if the judge confirms the plan, management of the reorganized company will receive an unspecified percentage of its shares as incentive awards. There is also the potential for a public stock offering in the restructured company down the road.
Horsehead’s debt holders will be the biggest winners, though. Among them is Greywolf Capital Management, an investment firm that collaborated with Goldman Sachs on the creation of Timberwolf I, one of the most toxic collateralized debt obligations to emerge in the mortgage crisis.
A spokesman for Greywolf declined to comment.
The Horsehead matter shows, Professor Dick said, why it may be necessary in more bankruptcy restructurings to give shareholders a chance to be heard early in the process, so they can serve as a counterweight to the outsize influence of big creditors.
“In a restructuring, a company can be transferred from the shareholders to the creditors for less than adequate consideration,” she said. “There’s no way to correct for that unless you allow shareholders to advocate for themselves.”
Twitter: @gmorgenson
DRYS Agrees R/S 1-4 up pre open
DryShips Agrees 1-for-4 Reverse Stock Split: Stock Jumps More Than 3% Pre-Market
Reverse-Stock Splits Won't Help Dry-Bulk Shippers -- Market Talk
9:12 ET - It's apparently the morning that dry-bulk shippers are moving to do something about their long-depressed stock prices. Both DryShips (DRYS) and Eagle Bulk (EGLE) just announced reverse-stock splits, with EGLE's 1-for-20 move taking effect with today's trading and DRYS doing a 1-for-4 reverse split as of Aug. 15 . DRYS has been trading below $1 since mid-June, versus a prior-year level above $10 , and EGLE's split-adjusted $8.10 closing finish yesterday compares with $180 a year ago. As we've said, reverse splits often don't stop stock prices from shrinking further. With DRYS and EGLE already down 90% this year, don't expect much different with these two. (kevin.kingsbury@wsj.com; @kevinkingsbury)
(END) Dow Jones Newswires
08-05-16 0912ET
Copyright (c) 2016 Dow Jones & Company, Inc.
DRYS Agrees R/S 1-4 up pre open
DryShips Agrees 1-for-4 Reverse Stock Split: Stock Jumps More Than 3% Pre-Market
Reverse-Stock Splits Won't Help Dry-Bulk Shippers -- Market Talk
9:12 ET - It's apparently the morning that dry-bulk shippers are moving to do something about their long-depressed stock prices. Both DryShips (DRYS) and Eagle Bulk (EGLE) just announced reverse-stock splits, with EGLE's 1-for-20 move taking effect with today's trading and DRYS doing a 1-for-4 reverse split as of Aug. 15 . DRYS has been trading below $1 since mid-June, versus a prior-year level above $10 , and EGLE's split-adjusted $8.10 closing finish yesterday compares with $180 a year ago. As we've said, reverse splits often don't stop stock prices from shrinking further. With DRYS and EGLE already down 90% this year, don't expect much different with these two. (kevin.kingsbury@wsj.com; @kevinkingsbury)
(END) Dow Jones Newswires
08-05-16 0912ET
Copyright (c) 2016 Dow Jones & Company, Inc.
TVIX R/S 1-25 set by CS as of August 9, 2016
5:22 pm ET
NEW YORK, Aug. 2, 2016 /PRNewswire/ -- Credit Suisse AG announced today that it will implement a 1-for-25 reverse split of its VelocityShares™ Daily 2x VIX Short Term ETN ("TVIX"), expected to be effective as of August 9, 2016.
On August 11, 2016, holders of record will receive one reverse split-adjusted ETN for every twenty-five units of TVIX. In addition, such holders of record that hold a number of units of ETNs not evenly divisible by twenty-five will receive a cash payment for any fractional number of units remaining of TVIX (the "partials"). The cash amount due on any partials will be determined on August 15, 2016, based on the closing indicative value of TVIX on such date and will be paid by Credit Suisse AG on August 22, 2016.
The closing indicative value of TVIX on August 8, 2016 will be multiplied by twenty-five to determine its reverse split-adjusted closing indicative value. The reverse split will be effective at the open of trading on August 9, 2016 and TVIX will begin trading on the NASDAQ Stock Market on a reverse split-adjusted basis on such date. Following the reverse split, TVIX will have a new CUSIP but will retain the same ticker symbol.
The reverse split will affect the trading denominations of TVIX but it will not have any effect on the principal amount of the underlying notes, except that the aggregate principal amount will be reduced by an amount equal to the aggregate principal amount of the partials.
None of the other ETNs offered by Credit Suisse AG are affected by these announcements.
DRYS sets R/S 1-4 to stay compliant
came out 10:07am
DRYSHIPS INC. ANNOUNCES RECEIPT OF NASDAQ NOTICE AND REVERSE STOCK SPLIT OF 4-FOR-1
ATHENS, GREECE — August 1, 2016 - DryShips Inc. (NASDAQ:DRYS) (the "Company" or "DryShips"), an international owner of drybulk carriers and offshore support vessels, announced today it has received written notification from The Nasdaq Stock Market ("Nasdaq") dated July 27, 2016, indicating that because the closing bid price of the Company's common stock for 30 consecutive business days, from June 14, 2016 to July 26, 2016, was below the minimum $1.00 per share bid price requirement for continued listing on the Nasdaq Capital Market, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the applicable grace period to regain compliance is 180 days, or until January 23, 2017.
The Company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. The Company has determined to effect a 4-for-1 reverse stock split, in order to regain compliance with the Nasdaq Capital Market minimum bid price requirement. In the event the Company does not regain compliance within the 180-day grace period and it meets all other listing standards and requirements, the Company may be eligible for additional 180-day grace period.
The Company's business operations are not affected by the receipt of the notification.
About DryShips Inc.
The Company is an owner of drybulk carriers and offshore support vessels that operate worldwide. The Company owns a fleet of 20 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.5 million tons, and 6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.
The Company's common stock is listed on the NASDAQ Capital Market where it trades under the symbol "DRYS."
Visit the Company’s website at www.dryships.com
*Comstock Resources Reports 1-for-5 Reverse Stock Split
few mins ago
DCTH Delcath Systems 1 for 16 reverse split will be effective tomorrow.
Twitter post 12mins ago
DCTH Delcath Systems 1 for 16 reverse split will be effective tomorrow.
Twitter post 12mins ago
*Qualstar Reports 1-for-6 Reverse Stock Split em
VPCO PR, vote, effective 1-20,000 today 5pm et
10:57 am ET
DANIA BEACH , Fla., June 1, 2016 /PRNewswire/ -- Vapor Corp. (OTCQB: VPCO) (the "Company"), a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, today announced that effective at 5:00 pm, Eastern Time , on June 1, 2016 (the "Effective Time"), the Company will effect a one-for-20,000 reverse stock split of its outstanding common stock. On March 21, 2016 , the Company's stockholders approved an amendment to the Company's Amended and Restated Certificate of incorporation to effect the reverse stock split at a ratio between 1-for-10,000 and 1-for-20,000. The Board of Directors approved the implementation of a reverse stock split and determined the appropriate reverse stock split ratio to be 1-for-20,000.
As a result of the reverse stock split, every 20,000 shares of the Company's common stock issued and outstanding as of the Effective Time will be consolidated into one issued and outstanding share, except to the extent that the reverse stock split results in any of the Company's stockholders owning a fractional share, which would be rounded up to the next highest whole share.
Quotation of the Company's common stock will continue, on a split-adjusted basis, with the opening of the markets on Thursday, June 2, 2016 , under the trading symbol "VPCOD" under the new CUSIP number 922099700. The reverse stock split reduces the number of shares of the Company's common stock outstanding from approximately five billion pre-reverse split shares to approximately 250,000 post-reverse split.
Stockholders of record who hold physical certificates should submit their old certificates to the Company's transfer agent, Equity Stock Transfer, LLC , in order to obtain new certificates. Stockholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers' particular processes, and will not be required to take any action in connection with the reverse stock split. Equity Stock Transfer, LLC can be reached at (212) 575 5757.
Additional information about the reverse stock split can be found in the Company's definitive proxy statement filed with the Securities and Exchange Commission on March 3, 2016 , a copy of which is available at www.sec.gov or at www.vapor-corp.com under the SEC Filings tab located on the Investors page.
Hey MG. You nailed it on many counts. The ihub names certainly did help us get over the hump. Would be nice to hang here more but as said there’s that new pull. Trader curse I guess to always be on look out. Sucks one into good & bad. Survivor mentality kicks into play then to stay afloat in so much data.
Twitter and to some extent it's stock tweet part have gotten my attention thru the day. Once find the solid feeds (started w/ general news flow then to specifics like oll, retail, dry bulks, entertainment, etc. for stock details). Avoided lot of pitfall entries – much like ihub did in the old days. So much dribble now here. One changes as knowledge develops.
Might give ToS another shot. I’ve settled on running it twice . Keep cnbc on 1 platform (and from another folder) the 2nd platform for chats & background room of Global News. The chat room I’ve liked best is Benzenga Squawk for audio. There are a few others that run video and
do sort of training & intraday mkt discussions that I pass on now. Also bunch of hour seminars.
All in all pretty helpful. Ben L still runs stuff, Shadowtrader, and Benzenga Charlie for fast day and rarely a 2-3 day swing. BC really nails it on fast moving news like on VRX when it fell.
Travel safe and keeps the social skills as sharp as trading ones.
Hi MG dull mkt to trade
Doing a lot chats & technical analysis via ThinkorSwim platform and
some other work on creative side to keep the liquid shell engaged.
Ihub does seem pretty dull with lot of wothless pumps of cheapies.
Check ya later, have nice weekend - we need it. Lots rain & clouds up heree in homeland Man'h.
STEM R/S 1-12 Monday open
NEWARK, Calif. , May 06, 2016 (GLOBE NEWSWIRE) -- StemCells, Inc. (NASDAQ:STEM), announced today that at its annual stockholders meeting held on May 5, 2016 , the Company's stockholders voted to approve a reverse stock split of the Company's common stock at a ratio of 1-for-12. Trading of the Company's common stock on the NASDAQ Capital Market will continue, on a split-adjusted basis, with the opening of the markets on Monday, May 9, 2016 , under the existing trading symbol "STEM" and a new CUSIP number 85857R 303.
The reverse stock split was implemented by the Company as the most appropriate way to address the Nasdaq listing requirements. In addition, the reverse split is expected to increase the available shares of common stock for future issuance enabling the Company to raise the required capital to complete our ongoing clinical efforts and over time grow our business. Finally, the higher stock price should make our shares more appealing for the financial community, including institutional investors, and the general investing public. As a result of the reverse stock split, every twelve shares of the Company's common stock issued and outstanding on the effective date will be combined into one issued and outstanding share.
The reverse stock split will reduce the number of shares of the Company’s outstanding common stock from approximately 140 million to approximately 11.6 million. Fractional shares will be rounded up to the nearest whole share and proportional adjustments will be made to the Company's outstanding stock options, warrants and equity incentive plans.
About StemCells , Inc. StemCells, Inc. is currently engaged in clinical development of its HuCNS-SC® platform technology (purified human neural stem cells) as a potential treatment for chronic spinal cord injury (SCI). The Company's Pathway Study, a Phase II proof-of-concept trial in chronic cervical SCI is actively enrolling at thirteen sites in the U.S. and Canada . Six-month interim data for the first cohort of the Pathway Study showed the first-ever clinical evidence of a treatment effect improving both upper muscle strength and motor function following cellular transplant in spinal cord injury. Top-line data from the Company's earlier Phase I/II clinical trial in chronic thoracic SCI showed measurable gains involving multiple sensory modalities and segments in seven of twelve patients enrolled in the study, including the conversion of two patients from the complete AIS-A spinal cord injury to the incomplete AIS-B spinal cord injury. The Company has also completed its Phase I/II clinical trial in geographic atrophy, the most advanced form of dry age related macular degeneration. Top-line results from this study show a positive safety profile and favorable preliminary efficacy data. In a Phase I clinical trial in Pelizaeus-Merzbacher disease (PMD), a fatal myelination disorder in children, the Company showed preliminary evidence of progressive and durable donor-derived myelination by MRI. A Phase I study in children with Batten’s disease showed that transplantation of the cells into the brain was safe and resulted in long term survival of the cells.
Further information about StemCells, Inc. is available at http://www.stemcellsinc.com.
Apart from statements of historical fact, the text of this press release constitutes forward-looking statements within the meaning of the U.S. securities laws, and is subject to the safe harbors created therein. These statements include, but are not limited to, statements regarding the future business operations of StemCells, Inc. (the "Company"), the prospect for continued clinical development of the Company's HuCNS-SC cells in CNS disorders, the timing of final data release in the Company’s Pathway Study in cervical spinal cord injury, and the expected use of funds raised in the Company’s completed public offering. These forward-looking statements speak only as of the date of this news release. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management's current views and are based on certain assumptions that may or may not ultimately prove valid. The Company's actual results may vary materially from those contemplated in such forward-looking statements due to risks and uncertainties to which the Company is subject, including risks whether the FDA or other applicable regulatory agencies, including applicable institutional review boards at one or more clinical trial sites, will permit the Company to continue clinical testing or conduct future clinical trials; uncertainties regarding the timing of patient enrollment in the Company’s Pathway Study; uncertainties regarding the Company's ability to obtain the increased capital resources needed to continue its current and planned research and development operations; uncertainty as to whether HuCNS-SC cells and any products that may be generated in the future in the Company's cell-based programs will prove safe and clinically effective and not cause tumors or other adverse side effects; uncertainties regarding the Company's manufacturing capabilities given its increasing preclinical and clinical commitments; uncertainties regarding the Company’s plans to increase its authorized share capital and whether the Company’s Series B warrants will become exercisable; uncertainties regarding the validity and enforceability of the Company's patents; uncertainties as to whether the Company will become profitable; and other factors that are described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 .
CONTACT:
Robert Haag
Managing Director
IRTH Communications
STEM@irthcommunications.com
1-866-976-4784
Lena Evans
Russo Partners
(212) 845-4262
Image: Primary Logo
Source: StemCells, Inc.
STEM R/S 1-12 Monday open
NEWARK, Calif. , May 06, 2016 (GLOBE NEWSWIRE) -- StemCells, Inc. (NASDAQ:STEM), announced today that at its annual stockholders meeting held on May 5, 2016 , the Company's stockholders voted to approve a reverse stock split of the Company's common stock at a ratio of 1-for-12. Trading of the Company's common stock on the NASDAQ Capital Market will continue, on a split-adjusted basis, with the opening of the markets on Monday, May 9, 2016 , under the existing trading symbol "STEM" and a new CUSIP number 85857R 303.
The reverse stock split was implemented by the Company as the most appropriate way to address the Nasdaq listing requirements. In addition, the reverse split is expected to increase the available shares of common stock for future issuance enabling the Company to raise the required capital to complete our ongoing clinical efforts and over time grow our business. Finally, the higher stock price should make our shares more appealing for the financial community, including institutional investors, and the general investing public. As a result of the reverse stock split, every twelve shares of the Company's common stock issued and outstanding on the effective date will be combined into one issued and outstanding share.
The reverse stock split will reduce the number of shares of the Company’s outstanding common stock from approximately 140 million to approximately 11.6 million. Fractional shares will be rounded up to the nearest whole share and proportional adjustments will be made to the Company's outstanding stock options, warrants and equity incentive plans.
About StemCells , Inc. StemCells, Inc. is currently engaged in clinical development of its HuCNS-SC® platform technology (purified human neural stem cells) as a potential treatment for chronic spinal cord injury (SCI). The Company's Pathway Study, a Phase II proof-of-concept trial in chronic cervical SCI is actively enrolling at thirteen sites in the U.S. and Canada . Six-month interim data for the first cohort of the Pathway Study showed the first-ever clinical evidence of a treatment effect improving both upper muscle strength and motor function following cellular transplant in spinal cord injury. Top-line data from the Company's earlier Phase I/II clinical trial in chronic thoracic SCI showed measurable gains involving multiple sensory modalities and segments in seven of twelve patients enrolled in the study, including the conversion of two patients from the complete AIS-A spinal cord injury to the incomplete AIS-B spinal cord injury. The Company has also completed its Phase I/II clinical trial in geographic atrophy, the most advanced form of dry age related macular degeneration. Top-line results from this study show a positive safety profile and favorable preliminary efficacy data. In a Phase I clinical trial in Pelizaeus-Merzbacher disease (PMD), a fatal myelination disorder in children, the Company showed preliminary evidence of progressive and durable donor-derived myelination by MRI. A Phase I study in children with Batten’s disease showed that transplantation of the cells into the brain was safe and resulted in long term survival of the cells.
Further information about StemCells, Inc. is available at http://www.stemcellsinc.com.
Apart from statements of historical fact, the text of this press release constitutes forward-looking statements within the meaning of the U.S. securities laws, and is subject to the safe harbors created therein. These statements include, but are not limited to, statements regarding the future business operations of StemCells, Inc. (the "Company"), the prospect for continued clinical development of the Company's HuCNS-SC cells in CNS disorders, the timing of final data release in the Company’s Pathway Study in cervical spinal cord injury, and the expected use of funds raised in the Company’s completed public offering. These forward-looking statements speak only as of the date of this news release. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management's current views and are based on certain assumptions that may or may not ultimately prove valid. The Company's actual results may vary materially from those contemplated in such forward-looking statements due to risks and uncertainties to which the Company is subject, including risks whether the FDA or other applicable regulatory agencies, including applicable institutional review boards at one or more clinical trial sites, will permit the Company to continue clinical testing or conduct future clinical trials; uncertainties regarding the timing of patient enrollment in the Company’s Pathway Study; uncertainties regarding the Company's ability to obtain the increased capital resources needed to continue its current and planned research and development operations; uncertainty as to whether HuCNS-SC cells and any products that may be generated in the future in the Company's cell-based programs will prove safe and clinically effective and not cause tumors or other adverse side effects; uncertainties regarding the Company's manufacturing capabilities given its increasing preclinical and clinical commitments; uncertainties regarding the Company’s plans to increase its authorized share capital and whether the Company’s Series B warrants will become exercisable; uncertainties regarding the validity and enforceability of the Company's patents; uncertainties as to whether the Company will become profitable; and other factors that are described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 .
CONTACT:
Robert Haag
Managing Director
IRTH Communications
STEM@irthcommunications.com
1-866-976-4784
Lena Evans
Russo Partners
(212) 845-4262
Image: Primary Logo
Source: StemCells, Inc.
YUMA yes take awhile from basing
Longish base but may need even more and of course the usual signs of trying a breakout. It seemed to have a fan following and quiet action suggests enough of them hung on so wood is there for any spark.
Macro economy no help for these things.
FREE to make it 1-200 serial R/Ser tomorrow
http://ih.advfn.com/p.php?pid=nmona&article=71107143
The Company anticipates that its common stock will begin trading on a split-adjusted basis when the market opens on April 14, 2016. FreeSeas’ common stock will continue to trade under the symbol "FREE."
-------
* Freeseas announces reverse split of common stock
8:35pm ET
* Says to effect reverse stock split of stock at a ratio of one new share for every 200 shares currently outstanding Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)
SIGAQ emerges from Bk 445pm ET
NEW YORK --(BUSINESS WIRE)-- SIGA Technologies, Inc. ( SIGA ) (OTCMKTS:SIGAQ), a company specializing in the commercialization of solutions for serious unmet medical needs and biothreats, announced today that the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court") has entered an order confirming the Debtor's Third Amended Chapter 11 Plan, dated April 7, 2016 , and, as a result, SIGA has successfully emerged from chapter 11. A copy of the Plan, as confirmed by the Bankruptcy Court , can be found at https://cases.primeclerk.com/siga/.
"We are pleased the Bankruptcy Court has confirmed the Plan and that we have successfully emerged from chapter 11. We look forward to satisfying the judgment resulting from the litigation with PharmAthene, Inc. , focusing on growing our business and supplying the U.S. Government and other jurisdictions with important bio-threat protection," said Eric Rose , Chairman and CEO, SIGA Technologies, Inc.
ABOUT SIGA TECHNOLOGIES, INC.
We are a company specializing in the development and commercialization of solutions for serious unmet medical needs and biothreats. Our lead product is Tecovirimat, TPOXX, also known as ST-246(R), an orally administered antiviral drug that targets orthopoxviruses. While TPOXX is not yet approved as safe and effective by the U.S. Food & Drug Administration , it is a novel small-molecule drug that is being delivered to the Strategic National Stockpile under Project BioShield. For more information about SIGA , please visit SIGA's web site at www.siga.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements relating to the effect of the loss of our litigation with PharmAthene, Inc. , our ability to raise the funds necessary to satisfy the judgment arising from such loss and our chapter 11 bankruptcy case. Such forward-looking statements are subject to various known and unknown risks and uncertainties and SIGA cautions you that any forward-looking information provided by or on behalf of SIGA is not a guarantee of future performance. SIGA's actual results could differ materially from those anticipated by such forward-looking statements due to a number of factors, some of which are beyond SIGA's control, including, but not limited to, (i) the risk that potential products that appear promising to SIGA or its collaborators cannot be shown to be efficacious or safe in subsequent pre-clinical or clinical trials, (ii) the risk that SIGA or its collaborators will not obtain appropriate or necessary governmental approvals to market these or other potential products, (iii) the risk that SIGA may not be able to obtain anticipated funding for its development projects or other needed funding, including from anticipated governmental contracts and grants, (iv) the risk that SIGA may not complete performance under the Biomedical Advanced Research Development Authority (BARDA) Contract on schedule or in accordance with contractual terms, (v) the risk that SIGA may not be able to secure or enforce sufficient legal rights in its products, including intellectual property protection, (vi) the risk that any challenge to SIGA's patent and other property rights, if adversely determined, could affect SIGA's business and, even if determined favorably, could be costly, (vii) the risk that regulatory requirements applicable to SIGA's products may result in the need for further or additional testing or documentation that will delay or prevent seeking or obtaining needed approvals to market these products, (viii) the risk that one or more protests could be filed and upheld in whole or in part or other governmental action taken, in either case leading to a delay of performance under the BARDA Contract or other governmental contracts, (ix) the risk that the BARDA Contract is modified or canceled at the request or requirement of the U.S. government, (x) the risk that the volatile and competitive nature of the biotechnology industry may hamper SIGA's efforts to develop or market its products, (xi) the risk that the changes in domestic and foreign economic and market conditions may affect SIGA's ability to advance its research or may affect its products adversely, (xii) the effect of federal, state, and foreign regulation, including drug regulation and international trade regulation, on SIGA's businesses, (xiii) the risk that our chapter 11 bankruptcy case may make it more difficult to obtain additional financing, (xiv) the risk that our internal controls will not be effective in detecting or preventing a misstatement in our financial statements, (xv) the risk that some amounts received and recorded as deferred revenue may someday be determined to have been more properly characterized as revenue when received, (xvi) the risk that some amounts received and recorded as deferred revenue ultimately may not be recognized as revenue, (xvii) the risk associated with the loss of our appeal to the Delaware Supreme Court in our litigation with PharmAthene, Inc. , including, the risks related to a failure to satisfy the judgment arising from the loss of the litigation with PharmAthene, Inc. and (xviii) the costs and expenses and other inherent uncertainty attendant to a chapter 11 case. More detailed information about SIGA and risk factors that may affect the realization of forward-looking statements, including the forward-looking statements in this press release, is set forth in SIGA's filings with the Securities and Exchange Commission , including SIGA's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 , and in other documents that SIGA has filed with the SEC . SIGA urges investors and security holders to read those documents free of charge at the SEC's web site at http://www.sec.gov. Interested parties may also obtain those documents free of charge from SIGA . Forward-looking statements are current only as of the date on which such statements were made, and except for our ongoing obligations under the United States of America federal securities laws, we undertake no obligation to update publicly any forward-looking statements whether as a result of new information, future events, or otherwise.
Peregrine Midstream Partners LLC filed a chapter 11 plan that proposes to slash the natural gas storage company's debts by more than $249 million .
The plan, filed Monday with the U.S. Bankruptcy Court in Wilmington, Del. , is the product of last month's deal under which key lenders pledged their support for a restructuring that will see them forgive several hundred million dollars in debt in exchange for new debt and/or equity in the reorganized business.
The lenders that have signed the plan-support agreement include ING Capital LLC , Royal Bank of Canada and Sumitomo Mitsui Banking Corp. , according to court papers.
Houston -based Peregrine and its affiliates sought chapter 11 protection on Feb. 2 after the construction of its Ryckman Creek natural gas storage facility in Wyoming ran into trouble, including a fire that caused substantial damage, and contributed to the company's debt load.
Construction began on Ryckman Creek in 2011. The storage facility, which still isn't running at full capacity, connects with multiple pipelines and allows for the transportation of gas to California , Nevada , the northern Rocky Mountain range, the Pacific Northwest and Midwest.
Peregrine also trades and produces natural gas.
The chapter 11 plan filed Monday would cut Peregrine's debt load by more than $249 million , though court papers indicate that amount may change, leaving the reorganized company with an estimated $195 million in debt on its books. The value of its new equity hasn't yet been disclosed.
To carry out the restructuring, Peregrine is proposing that lenders owed roughly $330 million will get new notes and equity. The plan also proposes converting Peregrine's $35 million bankruptcy loan, from lenders led by ING, into the same amount of bankruptcy-exit financing.
The recovery of general unsecured creditors, whose total claims aren't yet known, is subject to several contingencies, including whether they vote for or against the plan. Existing equity will be canceled, and shareholders wouldn't receive any payment under the plan. The restructuring would see the Peregrine entity dissolved, with the reorganized parent and operating companies keeping the Ryckman name.
The plan is subject to a creditor vote and bankruptcy-court approval. Upcoming hearings in the bankruptcy case have been scheduled for April 26 , May 18 and July 7 , court papers show.
Write to Jacqueline Palank at jacqueline.palank@wsj.com
(END) Dow Jones Newswires
04-12-16 1245ET
Copyright (c) 2016 Dow Jones & Company, Inc.
Hey stuf PC Sales figures sluggy
AA ah watched action on thin results. Getting hard to find good sectors
other than gold. Internals bit soft as pause melting into reversals.
The Latest PC Sales Figures Suggest Nothing Has Stabilized http://seekingalpha.com/article/3964537-latest-pc-sales-figures-suggest-nothing-stabilized?source=tweet $AAPL $HPQ $LNVGF $LNVGY $INTC $MSFT $AMD $ASUUY $AKCPF
AA late for once closure
saw the numbers ya revs missed and this later
BZ NOTE: Alcoa curtailed approximately 1.2m metric tons refining capacity at its Point Comfort
FREE another R/S 1-2 up to 1-200
Athens , April 11, 2016 (GLOBE NEWSWIRE) --
Athens, Greece , April 11, 2016 - FreeSeas Inc. (Nasdaq: FREE) (“FreeSeas” or the
“Company”), a transporter of dry-bulk cargoes through the ownership and
operation of a fleet of Handysize vessels and an owner of a controlling stake in
a company commercially operating tankers, announced today that at the special
meeting of the Company’s shareholders held on April 8, 2016 , the shareholders
approved three proposals, as follows:
granted discretionary authority to the Company’s board of directors to first, (A) amend the Amended and Restated Articles of Incorporation of the Company to effect one or more consolidations of the issued and outstanding shares of common stock, pursuant to which the shares of common stock would be combined and reclassified into one share of common stock at a ratio within the range from 1-for-2 up to 1-for-200 (the “Reverse Stock Split”) and (B) determine whether to arrange for the disposition of fractional interests by shareholder entitled thereto, to pay in cash the fair value of fractions of a share of common stock as of the time when those entitled to receive such fractions are determined, or to entitle shareholder to receive from the Company’s transfer agent, in lieu of any fractional share, the number of shares of common stock rounded up to the next whole number, provided that, (X) that the Company shall not effect Reverse Stock Splits that, in the aggregate, exceeds 1-for-200, and (Y) any Reverse Stock Split is completed no later than the first anniversary of the date of the special meeting; ratified the potential issuance of more than 20% of the Company’s issued and outstanding common stock at a price that is less than the greater of book or market value in accordance with (i) a securities purchase agreement between the Company and MTR3S Holding Ltd. , dated March 1, 2016 ; (ii) a debt settlement agreement and release between the Company and Intermodal Shipbrokers Co. , dated January 19, 2016 ; (iii) a securities purchase agreement between the Company and Mordechai Vizel , dated January 19, 2016 ; (iv) a securities purchase agreement between the Company and Alpha Capital Anstalt, dated January 6, 2016 ; (v) a debt settlement agreement between the Company and Sichenzia Ross Friedman Ference LLP , dated October 7, 2015 ; and (vi) a securities purchase agreement between the Company and Service Trading Company, LLC , dated August 20, 2015 ; andapproved the potential issuance of more than 20% of the Company’s issued and outstanding common stock at a price that is less than the greater of book or market value in accordance with the following potential future transactions: (i) one or multiple purchase agreements for the sale of common stock or securities convertible into common stock up to $2 million for working capital at a discount to the market price of up to 50%, to be entered into within 180 days of the Special Meeting, (ii) one or multiple debt settlement agreements for the sale of common stock or securities convertible into common stock of up to $6 million for the settlement of trade or bank debt at a discount to the market price of up to 50%, to be entered into within 180 days of the Special Meeting, and (iii) a purchase agreement for the sale of common stock or securities convertible into common stock up to $15 million for asset acquisitions at a discount to the market price of up to 65%, to be entered into within 180 days of the Special Meeting.
About FreeSeas Inc.
FreeSeas Inc. is a Marshall Islands corporation with principal offices in
Athens, Greece . FreeSeas is engaged in the transportation of drybulk cargoes
through the ownership and operation of drybulk carriers and also is an owner of
a controlling stake in a company commercially operating tankers. Currently, it
has a fleet of Handysize vessels. FreeSeas' common stock trades on the Nasdaq
Capital Market under the symbol FREE. Risks and uncertainties are described in
reports filed by FreeSeas Inc. with the SEC , which can be obtained free of
charge on the SEC's website at http://www.sec.gov . For more information about
FreeSeas Inc. , please visit the corporate website, www.freeseas.gr .
PSUN to file Bk in April - Sources
12:16pm et
Teen Retailer Pacific Sunwear Expects to File for Bankruptcy in April--Sources
Nortel Bk court case is bloody mess
The long-running fight over how to divide the remnants of Nortel Networks Corp. continues Tuesday in a U.S. federal court, with creditors in Canada , the U.K. and the U.S. vying for a share of the $7.3 billion raised from the liquidation of the defunct global telecommunications giant.
Nortel's U.S. unit is appealing a ruling of U.S. Bankruptcy Judge Kevin Gross , whose 2015 decision dashed hopes of big profits for investors in Nortel's bonds. Bondholders were counting on Nortel's U.S. division to win, a victory that would have meant payment in full on $4 billion in bonds, plus another $1 billion in interest.
Instead, bondholders are looking at payment of less than par on Nortel's debt.
Tuesday's arguments before Chief Judge Leonard Stark in federal court in Delaware involve complex issues of tax policy, intellectual property, the reach of international contracts and other matters.
The "tragic, almost unimaginable collapse" of Nortel, as the U.S. bankruptcy judge said, took its toll on thousands of people who participated in the company's growth. In its heyday in 2000, Nortel had a market capitalization of about $ 260 billion . Creditors still awaiting payment include disabled workers left with a fraction of their former incomes, struggling pensioners and thousands of former employees.
The Canadian courts have yet to say whether appeals can go forward in Nortel's corporate homeland. Justice Frank Newbould of the Ontario Superior Court of Justice ruled the same way as Judge Gross, on the same day, and at the same time in May 2015 .
Until there is a final order in both courts, or a settlement, the key to the lockbox that contains Nortel's $7.3 billion won't turn, and nobody but the lawyers will be paid.
A running tally of fees kept by Canadian financial analyst Diane Urquhart puts the total at nearly $1.9 billion as of the turn of the year. That amounts to some 18% of the cash in Nortel's bankruptcy coffers at their fullest. Costs climbed after March 2011 , when Nortel, out of business, was a tarnished name, a pile of cash and a lot of bankruptcy lawyers.
At base, Nortel's international insolvency has become a test of the ability of the legal system to dismantle a global business without letting the value drain away in court fights. Multiple efforts at mediating a deal have failed and, in the view of the Canadian judge, the system's flunking the test.
"In this case, insolvency practitioners, academics, international bodies, and others have watched as Nortel's early success in maximizing the value of its global assets through cooperation has disintegrated into value-erosive adversarial and territorial litigation described by many as scorched earth litigation," Justice Newbould wrote last May.
Both he and his U.S. counterpart, Judge Gross made rulings that would result in handing most of the money to creditors of the Canadian parent company and to Nortel's British pensioners.
Nortel's wealth should be distributed the same way it was accumulated, with various national factions of the global operation sharing the cash according to the debts they carried, the judges said.
"This was not one corporation and one set of employees inventing IP that led to patents," wrote Justice Newbould . " Nortel was a highly integrated multinational enterprise."
Bondholders and Nortel U.S. say the "pro rata" decision is outside the rules, and the rulings should have followed the outlines of the theories spelled out in a lengthy trial held jointly in the U.S. and Canada .
Write to Peg Brickley at peg.brickley@wsj.com
PSTR [OTC] files Bk
saw at 6:10pm ET. Looks pretty dead for a while now at ihub board.
Open Outcrier ?@OpenOutcrier 52m52 minutes ago
PSTR [OTC] reports bankruptcy filing; 5 directors resign -BBG
This seems to be signs of finished
TPLM smell Bk here
02:21 PM EDT, 03/24/2016 (MT Newswires) -- Triangle Petroleum (TPLM) tumbled on Thursday after the energy holding company said that it has commenced a process to explore and evaluate strategic alternatives with respect to its individual business units and the company as a whole.
Shares are down 28.9% at $0.57, at the lower end of the 52-week range of $0.30 - $6.49.
FELP gets more time Chpt 11
Coal company Foresight Energy LP (FELP) has received more time to negotiate with debt holders after warning last week that it may need to file for chapter 11 bankruptcy protection.
Foresight announced in financial documents that its bondholders and lenders have agreed not to take any action against the company through March 29 as the groups work to strike a debt-restructuring deal. Such talks have been going on since December, when an unfavorable court decision threw $596.7 million of senior bonds into default--and because of cross- default provisions, its bank and other debt as well. Overall, the company has $1.39 billion in debt as of Dec. 31 .
The lenders and bondholders agreed in December to forbear until March 15 . This most recent extension removes that missed deadline and allows negotiations to continue for another week.
Still, the company warned in recent financial statements that if the terms of an out-of-court restructuring deal aren't reached, it could file for chapter 11 bankruptcy to execute a restructuring deal, or creditors could force it into an involuntary bankruptcy proceeding.
Foresight's financials have been suffering as a result of a long sinking coal market. However, its troubles became immediate when a Delaware Chancery Court ruled on Dec. 4 that a sale agreement between Foresight and parent company Murray Energy constituted a change of control that required the company to make a purchase offer to bondholders.
Recently, Foresight has also been dealing with an ongoing "combustion event" at its Hillsboro Deer Run Mine in Illinois . At the start of the month, the company said it hasn't been able to fully extinguish the fire in its underground mine and has asked the U.S. Mine Safety and Health Administration to temporarily seal the mine. The company said at the time that it's not sure when it will be able to reopen the facility. In February, it laid off 84 workers.
Hillsboro is Foresight's second largest mine, with 867.4 million of tons of proven reserves. In 2014, production at that mine was 5.6 million tons but that number fell dramatically in 2015, to 1.9 million tons.
Foresight owns a total of four mines and says it controls over 3 billion tons of proven coal reserves in Illinois , making it the largest reserve holder in the U.S. Most of its reserves are thermal coal, used in power plants and to produce electricity.
For the period ended Dec. 31 , Foresight reported revenue of $241.7 million and $64.4 million in net losses. During the same period of 2014 those figures were $300 million in revenue and $31.1 million in net profit.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to http://dbr.dowjones.com)
Write to Stephanie Gleason at stephanie.gleason@wsj.com
(END) Dow Jones Newswires
03-23-16 1427ET
Copyright (c) 2016 Dow Jones & Company, Inc.
Sports Authority Holdings $595 million bankruptcy loan has run into trouble with a key creditor group, who pointed out "numerous red flags."
Sports Authority Holdings Inc.'s $595 million bankruptcy loan has run into trouble with a key creditor group, who pointed out "numerous red flags."
Unsecured creditors are seeking more information regarding the bankruptcy financing, "including communications regarding the proposed financing, how it was negotiated and why the debtors believe that it is fair and appropriate despite numerous red flags," according to court papers filed Tuesday in the U.S. Bankruptcy Court in Wilmington, Del.
In light of their concerns, the creditors have asked Judge Mary Walrath to push back a March 29 hearing on the financing by a week. They also want more time to review the company's plan to sell itself.
The unsecured creditors' committee, which was formed less than two weeks ago, raised concerns about the speedy sale timeline and various chapter 11 deadlines that are a condition of the bankruptcy financing. Those deadlines ultimately call for Sports Authority to be sold by the end of April, the company's attorney said in a previous hearing. If the company isn't sold by then, Sports Authority will have it liquidate its remaining open stores.
The creditors also argue that since Sports Authority already received court approval to tap a portion of its bankruptcy loan, the company has "ample liquidity through March 29, 2016 and beyond."
Some of Sports Authority's landlords, including DDR Corp. (DDR) and a General Growth Properties Inc. (GGP) subsidiary, also have issues with the bankruptcy loan, which they say fails to provide payment of rent they are owed following Sports Authority's March 2 bankruptcy filing as well as rent owed before the filing.
Shortly after its chapter 11 filing, Sports Authority won approval to use up to $275 million of the bankruptcy loan and to begin liquidating some of its stores. However, the loan did require some modifications after facing some preliminary concerns from landlords as well as a federal bankruptcy watchdog.
The big-box sports retailer plans to liquidate 140 of its roughly 450 stores. It also plans to shut down two distribution facilities in Denver and Chicago , according to court filings.
Sports Authority , backed by private-equity firm Leonard Green & Partners LP , which acquired Sports Authority in a $1.3 billion leveraged buyout in 2006. By the time it filed for bankruptcy, it had more than $1 billion in debt on its books.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to http://dbr.dowjones.com)
Write to Lillian Rizzo at lillian.rizzo@wsj.com
(END) Dow Jones Newswires
03-23-16 1422ET
Copyright (c) 2016 Dow Jones & Company, Inc.
QTWW Files For Chapter 11 Bankruptcy - Shares to Resume Trade at 9:50 am ET
Quantum Fuel Systems Files For Chapter 11 Bankruptcy - Shares to Resume Trade at 9:50 am ET
Quantum Fuel Systems Files For Chapter 11 Bankruptcy - Shares to Resume Trade at 9:50 am ET
9:25 am ET
NYS votes for mixed martial arts
ALBANY--Hours before the New York State Assembly passed a bill Tuesday to legalize mixed martial arts, the president of an MMA major league was already planning events with venues around the state.
Scott Coker , president of Bellator MMA, said he had waited long enough to capitalize on New York --the last state in the U.S. to move to legalize the sport.
"There's been a lot of false starts in the past, so now people really realize it's going to happen," Mr. Coker said. "The phone's been ringing today."
The Democrat-controlled Assembly passed the bill 113-25 after three hours of often raucous debate. The Republican- led Senate already passed a version of the bill. Gov. Andrew Cuomo , a Democrat, indicated he would sign it into law.
The move signaled an end to a yearslong battle in Albany for the forces of MMA. Many in the Assembly want nothing to do with what they describe as a unacceptably violent sport.
With the passing of the bill, many promoters, fighters and venue officials with connections to New York are ready to take advantage of the market for the first time since the sport was outlawed in the state in 1997.
"If you just look at the demographics and the martial-arts community there in New York City , I think it's going to be a big supporter of MMA and a big hit," said Mr. Coker, who added he has been talking in recent days to officials at Madison Square Garden , Barclays Center and arenas upstate.
He said Bellator, owned by New York -based Viacom , is targeting August for its first event in the state.
"We're in constant communication with the marquee MMA content providers and plan to bring the best of the sport to Brooklyn and deliver the fights that fans want," said Brett Yormark , chief executive of Brooklyn Sports and Entertainment, which oversees business operations and marketing for Barclays Center.
A spokesman from Madison Square Garden said MSG "will now have the opportunity to host the first-ever UFC event by year's end...."
For three hours on Tuesday afternoon, Albany legislators touched on everything from "fight clubs" to violent videogames, to slavery, to traumatic brain injuries. The topics of discussion incorporated even pornography.
"You have two nearly naked, hot men trying to dominate each other," said Assemblyman Daniel O'Donnell , a Manhattan Democrat who is openly gay. "That's gay porn with a different ending."
But some politicians have supported MMA. Brooklyn borough President Eric L. Adams said legalizing the sport is " about dollars and making sense."
"All over, every state but New York has MMA, and for people to deny New York , it basically states that we're doing economic development for every state but New York state ," Mr. Adams said.
MMA will be under the supervision of the New York State Athletic Commission , which also supervises boxing. The legislation requires health insurance that covers life-threatening injuries and guarantees revenue for the state. Venues will be allowed to hold events 120 days after the bill is signed into law.
The Ultimate Fighting Championship--the biggest player in mixed martial arts--has said MMA would generate more than $68 million annually in economic activity in New York , nearly half of that in upstate cities.
" New York's amazing arenas--upstate and downstate--have worked with us to advocate passage of this bill," said UFC chairman and CEO Lorenzo Fertitta . "So, too, have restaurants, hotels, businesses and others who recognize the economic value professional MMA can bring to New York ."
He said he UFC was aiming to hold up to two events in the state before year's end.
The regional director for SMG, a venue-management group, said he is planning to hold UFC events this fall at the Times Union Center in Albany .
"The first major event that comes into this facility, with our 17,000 capacity, I don't think there's any question if there's a championship-style event that will sell out all 17,000," said Bob Belber , who also oversees arenas in Syracuse and Rochester .
Mr. Belber said he would prioritize MMA over other sports, including the Albany Devils, the affiliate of the New Jersey Devils .
"If that means we have to go to our hockey team who might hold a weekend date, and ask them to move off the date so we can host an MMA event, we would provide the hockey team with a comparable date," Mr. Belber said.
Many promoters in New York City said the most important part of the bill is that it would regulate MMA at the amateur level, which has been legal but run without health requirements.
Mike Washington , owner of the New York Fight Exchange, a Long Island amateur MMA circuit, said the bill would get rid of "wild west promoters" who don't pay for ambulance crews and other health support for fighters.
Mr. Washington added that he is already getting calls from his former fighters who left the state to turn professional.
The current Bellator light-heavyweight champion, Liam McGeary , said he can't wait to fight in New York , where he resides.
"I've fought in the West Coast , I've fought in the middle of America," said Mr. McGeary, who lives in Brooklyn . "To be able to fight in the state I call my home would be incredible."
Write to Erica Orden at erica.orden@wsj.com
(END) Dow Jones Newswires
03-22-16 2058ET
Copyright (c) 2016 Dow Jones & Company, Inc.
UWTI R/S 1:10 on 3/14 Nasdaq 3x Long oil ETN
VelocityShares 3x Long Crude Oil ETN Linked to the S&P GSCI® Crude Oil Index ER has announced a 1:10 split, effective 3/14/16
DryShips: Game Over? SA article
http://seekingalpha.com/article/3957008-dryships-game?source=tweet $DRYS
Good piece. Reads like a lot that have either gone Bk or just quit.
Specifically these parts:
As a result of the above actions, DRYS at least managed to pay down debt, including the convertible bond. However, the company is in a much worst position today as it is experiencing negative adjusted EBITDA. DRYS stopped making payments across all credit facilities and will negotiate with banks.
Even if there is significant debt restructuring, DRYS cannot survive much longer with its current cash balance and cash burn of around $15m per quarter (prior to making interest payments), unless one or more of the following occur:
FREE looking at R/S #7
Size of R/S have gotten bit larger last 2 times from like 1-7 to then 1--50 and 1-60. Could be to 1-100 next time since so low. $0.036
O/S tiny now after back to back R/S @3.3M
FreeSeas Receives Nasdaq Listing Determination; Intends to Request Hearing
Tuesday, March 8, 2016 9:30 PM UTC
Athens, March 08, 2016 --
Athens, Greece, March 8, 2016 -- FreeSeas Inc. (FREE) (“FreeSeas” or the “Company”), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize vessels and an owner of a controlling stake in a company commercially operating tankers, announced today that on March 2, 2016, the Company received notice from the Listing Qualifications Staff of The NASDAQ Stock Market LLC (the “Staff”) indicating that unless the Company timely requests a hearing before the Nasdaq Listing Qualifications Panel (the “Panel”), its securities would be subject to delisting from The Nasdaq Capital Market based upon its non-compliance with the minimum bid price requirement, as set forth in Nasdaq Listing Rule 5550(a)(2), and concerns raised by the Staff, pursuant to the Staff’s discretionary authority under Nasdaq Listing Rule 5101, regarding the Company’s ability to remedy the bid price deficiency in light of dilution that may occur from financing transactions.
The Company intends to timely request a hearing before the Panel, at which hearing it will present its plan to regain and sustain compliance with the bid price requirement and otherwise address the Staff’s concerns in connection therewith. The Company’s request for a hearing will stay any delisting action and the Company’s common stock will continue to trade on The Nasdaq Capital Market at pending the issuance of the Panel’s decision following the hearing and the expiration of any extension granted by the Panel.
About FreeSeas Inc.
FreeSeas Inc. is a Marshall Islands corporation with principal offices in Athens, Greece. FreeSeas is engaged in the transportation of drybulk cargoes through the ownership and operation of drybulk carriers and also is an owner of a controlling stake in a company commercially operating tankers. Currently, it has a fleet of Handysize vessels. FreeSeas' common stock trades on the Nasdaq Capital Market under the symbol FREE. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the SEC, which can be obtained free of charge on the SEC's website at http://www.sec.gov. For more information about FreeSeas Inc., please visit the corporate website, www.freeseas.gr.
DryShips reports Q4 results
http://seekingalpha.com/pr/16416789-dryships-inc-reports-financial-operating-results-fourth-quarter-2015
DryShips (NASDAQ:DRYS): Q4 EPS of -$0.14
Revenue of $23.77M (-96.0% Y/Y)
DryShips reports Q4 results
http://seekingalpha.com/pr/16416789-dryships-inc-reports-financial-operating-results-fourth-quarter-2015
DryShips (NASDAQ:DRYS): Q4 EPS of -$0.14
Revenue of $23.77M (-96.0% Y/Y)