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I've got a great idea that would help all of us in the future. You're obviously extremely knowledgeable about the situation at CPRK pre bankruptcy and the condition the company was in and where it was headed. It would be great if you could give us the benefit of your wisdom and knowledge and explain exactly how you would have handled the same situation to save everyone who had invested their hard earned money into the scam that was CPRK so that they didn't completely lose it all. What would your first move have been to stall the bankruptcy from going through? How would you have paid off all of the creditors and get them satisfied? What would you have done to attempt to preserve the shares? If you've got some great ideas on how to fix the mess you may need to share because it may not be too late to incorporate some of them, unless you believe like the "New Doctor's" do that the patient is already too far gone to be revived and the plug should be pulled on life support. Looking forward to hearing your constructive ideas on how things should be done instead of whining that you disagree with the status. If you know what's been done wrong that tells me you should know what should have been done instead and now would be a great time to divulge that information.
Got mine in TDA as well, now you need to get busy and get this thing to $25/share and stop wasting time taking your wife out to Hooters for her birthday dinner.
They're absolutely correct because Copper King Mining is defunct and the shares in Copper King Mining are worthless. If you want to get the right answer to questions you need to ask the right questions.
Mine showed up yesterday as closed as well but with no value associated with it, probably because the shares were transferred into this account from another broker. So something is happening even if it's just my broker got as tired of seeing the shares just sitting in my account as I did and decided to close them out :). I'd like to believe this is just step #1 in seeing some new shares show up with an actual value attached to them.
Shares!? What shares are you talking about?
Never said that, but I'm not pissing and moaning about how i was duped and can't believe the unfairness of it all. I invest and take my chances and if it doesn't work out then it's my fault for investing in something so risky. I'm pretty sure no one put a gun to your head and demanded you invest money into a bankrupt, pink sheet mining stock. You did it because you had visions of a huge return on a minimal investment. There's always a huge risk, if you're gambling on a huge payout and when it doesn't work out then move on and don't repeat the same mistake if you don't like how it turned out. Of course I recognize this will all fall on deaf ears because the person failing to do their due diligence and believing what someone else tells them they should invest in can't possibly be held responsible for the decisions they make.
Then you should probably offer to take the same deal as Mickey and you can get out with a nice 50% profit as well, that is unless you perceive your presence here to be more of a public service and just looking out for all the poor fools who might have unwisely invested their money. I'm sure Chuck or possibly someone else would be glad to buy your ESF shares from you, that is if you own any.
sigh! I give up, you're right I'm clearly wrong and I apologize for insinuating otherwise.
Notice they said we could be trading by then, which also means we could not be trading by then, and what does the "conflict of interest" have to do with anything. I don't think there's a conflict when some of these guys have thousands of their own money invested in trying to make this work and not in the form of stock but just paying expenses etc out of pocket that they may very well never get back other than through potential stock appreciation if it happens. If you're concerned about the people running things, why don't you pay off what they're owed and then you can take control and do things your way.
I responded to a post demanding a firm date when the stock would start trading so I threw out an arbitrary date and you said that March 20, 2014 was the date given in the last update from the company when we would be trading. I didn't read anything in the update that said we would be trading by March 20, 2014 which is what you said in your post. "March 20, 2014. At least that's what the update said"
recognize those words, that was your post indicating that the last update said we'd be trading by March 20.
Why do you assume that anyone is "refusing to let us trade". If you want the stock to trade so that you can sell out then several people on this board have offered to buy you out now so you don't need it to officially trade to unload your shares. I'd respond to the rest of the post but I kind of got a little confused with some of the terminology and linguistics used.
you're right, you'd have thought we'd have learned to listen to you a long time ago. Since I get all of my stock trading ideas and information on the hub I just need to do a better job of figuring out the home run hitters from the strike out kings. Thanks for the constructive and informative information.
Really?, I must have missed the guarantee that we would absolutely be trading by March 20, 2014 in the last update. I'll need to go re-read that again and this time use my glasses.
July 23, 2014
I'll let everyone in on a secret if you promise not to tell. I checked with someone who should know and they indicated that the primary reason the stock hasn't resumed trading is that they're concerned that some of the purchasers of the stock may not be qualified to actually own and trade stock and they're trying to protect everyone from their own limitations and incompetence. Not sure what they're talking about but having spent some time listening to some shareholders it sounds plausible to me.
They DON'T CARE, however, they have to approve the shares to trade. They DON'T BENEFIT, however, they have to approve the shares to trade. Because the company was in Bankruptcy, which is a federal government law, governed by the federal government, the federal government has to approve transactions undertaken relative to the company, including things related to the company's stock. When you file taxes do you think the federal government agency cares when or if you get your tax refund back? However, they process it according to their rules and regulations and when AND ONLY WHEN they're done, do they refund the money to you. Asking your accountant when you're getting your refund every day does no good when the government is in control of the process and will determine when you get it. The same logic applies to the stock trading issues here. If this doesn't work I give up.
They've never said they were doing a reverse split which is something that only occurs with the same shares, not cancelled shares. What they said is that since they managed to salvage CPRKQ and preserve the ability for shareholders to not be wiped out, the existing shares would be cancelled and replaced with new shares at a predetermined ratio and applied to your holdings in the previous shares. If you held 1860 shares in cprkq when it entered bankruptcy, then you would be entitled to 1 share in XYZ company (whatever the symbol will be) when they are issued post bankruptcy. In most bankruptcy cases you could have gotten 1 share of the new company IF you bought the new share since the old shares would have been completely wiped out and not converted.
If you held shares in cprkq then you will receive completely new shares that are totally unrelated to your cprkq shares at the ratio that has been determined in order to lower the OS. Your cprkq shares exist only as a basis for determining how many new shares you'll receive, otherwise they have no relevance. They are a number in a mathematical equation more than anything else. CPRK the company was saved, the shares however were cancelled and not saved. The new shares will be trading when the government agencies get done with all of the things they have to do to make it so. Once the company is completely approved and set up to issue the new shares you will receive them and once the government approves them to trade you can trade them. Unless I'm not stressing it enough, the issuance and trading issues are in the hands of the government not the company and you should really be directing your questions to them since they're the only ones with the answers.
I've read this post 3 times and still don't understand it with all the colloquialisms. The exercise of warrants is for shares in the ESF and not for copper king shares. The ESF will have business outside of copper king so I'm not sure why the fact that the cprk shares are not trading is the one thing that would keep someone from exercising the warrants. I'm not sure why you don't understand the fact that you're not going to get the "old shares due you" since they've been cancelled. If you get anything it will be new shares in what is essentially a brand new company. If you understand anything about bankruptcy the new shares are generally issued to new purchasers and the old holders of the shares get nada, zip, zero, nothing. I would think you'd at least be a little grateful that you didn't get completely wiped out as in every other corporate bankruptcy that I'm familiar with and you've even got the hope for shares. If it means you're hoping they start trading soon so you can sell yours and disengage yourself from this self named charade, then I'm completely behind you.
I'd like to permanently forget the Q
I'm thinking that in honor of other members of this board the ticker should be ????. If we can't use those symbols we could ask for QAQAQ (question after question after question). Just my $.02
I wonder when we're going to start trading and what the new symbol will be and when we'll get our shares?
lol, simmer down Johnny. I know probably somewhat better than most what all has transpired as I've been involved on the periphery of some of it. I was attempting, and failing apparently, to make a joke about Double Down's post using his name. I too believe we're much better off than under the prior regime as evidenced by the fact that we're even here still talking about the future instead of crying about the past. We can certainly ruminate about the folly of holding out hope but its past time to put up or shut up with our money and now we've just got to wait and see how it all plays out. Obviously you and I believe in one outcome with double down and others of his ilk believing we're fools for backing our beliefs with our money. Hopefully we'll soon see who's right and who's wrong.
Sounds like it would be a good time to double down on your holding and lower your cost.
Please, please, please, pleeeeaaaassseee, if Mickey has any certificates coming make sure his go out in the first wave. Thanks
We will definitely get our shares before the end of the year.......................................................................................................................................................................................................2014
So you get an offer from someone who should and does know what is going on more than anyone else, to take personal time to explain things to you one on one until you better understand, and yet you turn it down because "it won't change anything". So you really don't want to understand what's going on, you just want to complain that things aren't going the way you want them to, which definitely is not going to change anything. It's certainly your right to complain to your heart's content, but please stop doing it in this forum ad nauseum because you should have figured out by now that things, especially in the financial & investing world, rarely work out the way we want. I wish that the stock was trading right now at $50/share and I still had my balance of shares from when it was CPRK, I'd be rich, but complaining that its not happening isn't making it so.
So what you want is the paper copy of the shares, you don't really care if they're worthless or not so if a collector down the road decides they have some kind of artistic rather than intrinsic value you can sell them? I think that's more understandable as long as you recognize the stock represented by those certificates is non-existent, but I wouldn't hold out much hope of getting certificates after the stock has been cancelled and the former management is gone and the company is coming out of bankruptcy.
From what I've heard it's probably going to be 2-3 months, give 2-3 months less. I'm assuming that when we see the stock in the account and tradeable then that will be when we're able to trade. Daily conjecture and questions on the same thing tend to get old and don't really help anything
Its always interesting in these situations where OTC stocks can't trade in extended hours yet they always do for someone.
Most people owning bios like this are traders and not investors and hold for the run into results, not necessarily for the potential swings based on results. Each day takes us closer to results and lots of people don't want to hold in case they don't meet the primary endpoint and the price craters. I've played it off and on up until this week along with many others and wouldn't want to hold a lot of shares hoping for good results. I don't think the price decay is a sign of any leakage of news, more so the sign of most people sticking to their plan of not holding through results because of the risk.
Exactly, so how comfortable are you that this time he really means it even though he lied for almost 2 years up to this point about the distribution. I also like how the S-1 indicates that after the distribution they'll have 18 common stock holders of record, hmmmm, wonder what that means?
I didn't really expect anything else from Ken than to find a way to cheat those he lied to back in 2010. But I think its telling that "true longs" think it's fine that the company took this tact. I can tell you from past experience that the SEC doesn't force a company to set a record date for a distribution or spin off, they only care that what's being done follows their rules and guidelines. And in fact they would have more of a problem with a company releasing statements like they did in 2010 and then trying to hide behind the "forward looking statements" disclaimer after the fact. If there was really anything to get this would be an easy slam-dunk case for a good attorney to pursue the company. This is a perfect case of laying with dogs and getting fleas. Oh well, I may not have gotten the distro shares but I did something most "true longs" will never be able to do, sold out with a healthy profit on my shares in KATX.
OK, so the SEC didn't like the original deal, do you believe that the SEC made them change the record date? A long is only someone who continued to hold even after the company repeatedly broke promises and the share price nosedived, but anyone who held for a long period up to the original record date expecting that the company would live up to commitments really wasn't a long? I like how you KATX/BVIG cheerleaders are fine with finding out that Ken is absolutely the dishonest, self serving person that everyone said he was, only because it may personally benefit you, although the stock price on BVIG will crater and the only reason they're releasing those shares is because they're getting ready to announce a huge dilution attempt to try to raise money for their newest hottest find in Ghana.
Only if you were holding as of 12/21/11, which is 18 months after what they said was the original record date. I had shares on the original record date in June 2010 which based on their documentation and releases should have qualified me for shares, however, I sold them prior to December 2011 which means now I won't get any shares, basically they lied, no other way to paint it.
That BVIG S-1 filing proves that Ken and the company are liars. According to the original carrot that was dangled, you had to be a owner of KATX stock in June 2010. According to the S-1 that you linked to the record date is December 21, 2011, which means anyone that held as of the original date they indicated they would distribute stock but sold since then and didn't still hold on December 21, 2011, is screwed and will not receive any shares in the company. Of course that's probably a misprint since we know Ken is super honest in all of his dealings.
The plan doesn't really mean crap to any of us since no one has or is likely to receive any shares in the company. As I recall they also had an ironclad plan to distribute shares on a 1/4 basis to owners of KATX but that hasn't worked out real well and their failure in that regard proves that they're incapable of bringing a pie in the sky plan to fruition.
Come on Gump you changed the date on that press release to try to make the company look bad. We all know there's no way that someone as honorable as Ken would allow 1 1/2 years from that update to pass with shareholders being no closer to receiving shares than they were before the announcement.
I've been away from this site for a while and was wondering as we approach in a few months the 2 year anniversary of the announcement of the share distribution, what's the status of us getting the shares? I tried to look through the posts but didn't see much about the actual mechanics of the transfer or where we are in the process, mostly about the actual mining which is meaningless to me if I don't get shares. Is this a dead issue or is Ken still being recommended for sainthood based on his inherent honesty and goodness and truthfulness?
sorry for being late getting back to you, but, yeah, zecco transferred all of the DTC eligible stocks and the one stock they considered worthless they sold and cleared out of my account at no cost to me, which is kind of shady since they didn't leave me any alternative. I'm not really missing the money because the current value on the stock was only $3 anyway, but if it were to become valuable later on I wonder if I could go after them for costing me money by liquidating the stock.
Zecco continues to suck even after you close your account. I transferred my account to Fidelity and even paid the $50 transfer fee over 2 months ago. I had 15,000 shares of a non DTC eligible stock that was part of the transfer. Fidelity alerted me that everything had gone through and the fee had been paid and Zecco proceeded to close out my account and notify me of that fact. Now over 2 months later I get an email from them stating that the non DTC eligible stock is considered worthless and they decided not to transfer it and want me to either authorize them to sell the stock and pay all fees, which could be $200-700 for a holding that has a value of less than $50 right now. Or I could elect to reopen my account and pay them $7.50/month for the right to continue to hold the shares in my account. If I don't respond they'll go with option 2 and reinstate my account and attempt to charge me the monthly fee.
I responded by telling them they owe me a partial refund of my transfer fee since they failed to follow my instructions and failed to notify me for 2 months that they didn't transfer all positions. I would waive the reimbursement but I also won't be reopening my account and paying a fee and they can sell the shares if they want but I won't pay more than the standard $7.95 trading fee. They've read my email but not responded yet, so it will be interesting to hear what they have to say.
Just a heads up though if anyone has recently transferred your account out of Zecco and you had a non DTC eligible stock, you may hear back from them later trying to blackmail you into paying them some extra fees or reopening your account. Assuming they go forward with trying to extort additional money out of me I guess I'll get an attorney to send them a letter threatening legal action but hopefully they don't make me take that step and just go quietly into the sunset.