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2:17-bk-11213 Tuesday, December 12, 2023
court Hearing Held Wed 12/13 9:53 AM
Hearing Hel
Related: [-] (related document(s)1004 Objection to Claims) RULING Objection to Claims is granted. Order-Parsons (Hess, Karen
VASO, yeah i was crawling through the 8k and supplemental docs and it seems to only be stated via the pro-forma value...
Bob, am i correct in that this values VASO around $1/sh? of course, that's not to say the $10 level will hold when it de-spacs but ...
Shiv, where can we find more information regarding the Tax refund received in 2022 as detailed in the lawsuit but redacted:
"
F. Falcon Continues to Deprive the Company of Cash, Making the
Company Increasingly Reliant on the Loan to Fund its Operations.
50. On March 13, 2022, the Company received a tax refund ________________
"
TS does want our proxy information; not sure why they can't accomplish what they want to with the shareholder list...
reason not voting on 3-12 is to avoid potential violations of the TRO
are they cutting the feed to us or is the gentlemen speaking just too far from the mic?
i guess we're getting the results when available...
i didn't hear TS comments on proposal 2? did anyone?
i think i heard... TS wants Charlie Kershaw and James Berger and Danielle Strauss.. then the other class Kushner(?) Sounds like Josh from Thayer is present...
proposal 1 & 2 only ones being voted on today.. meeting to be reconvened on 12/22 for the rest of the proposals
Shiv stated for the record that the meeting is valid per Delaware and that they checked with NY attorney as well (listen on your own to verify what i think i heard)
TS saying proxies are invalid since their slate wasn't represented
fun right out the gate lol
thank you Freddie!
if the 2nd largest shareholder can't/doesn't vote, 'that' is a problem imo..
To whom it may concern; many will be wary to expose their share counts and personal contact information to a random url. It might be more productive on your end to provide an email address @thayerstreet.com?
Yes, must first get this deal across the finish line. Then we can worry about everything else…
‘If’ strike is $1. This should not be an ‘if’. Solid, definitive $1 should have been in the proxy language imo. From what we voted on in the proxy, the strike could end up being $0.01.
i would be all for a tiered structure such as: 5% vest at $1, 5% vest at $2, 5% vest at $3, 5% vest at $4... 'that' is shareholder alignment.....
thanks for the update and efforts Shiv!
did i hear correctly regarding the TS Falcon slate not being represented as the issue?
temporary restraining order issued in NY.. reason for adjournment.. expect issues in TRO to be resolved by next wed
bc Falcon slate was not present on the proxy(?)
meeting adjourned, reconvened 12/6 10:30cst
https://www.kccllc.net/medley/document/2110526210917000000000001
Proposed Chapter 11
Recovery Estimate $
Low High
$ 3,066,023 $ 4,344,065
in another ~6months or so I guess we'll see how close these projections were...............
skimming this old document, wonder how much of this still exists or came to pass:
https://www.kccllc.net/medley/document/2110526210706000000000003
"
F. Retention Plan
By and through the Combined Disclosure Statement and Plan, the Debtor’s interest in
proceeds from the Remaining Company Contracts will be assigned to the Liquidating Trust and
the Debtor expects that the net proceeds of the Remaining Company Contracts will provide a
significant recovery to Allowed Claims. Specifically, and as more fully set in the liquidation
analysis attached hereto as Exhibit A, the Debtor expects that expects that, for the period ending
ending March 31, 2022, the Remaining Company Contracts will generate approximately
$1,725,000 of profit, which will be upstreamed to the Debtor. Such revenue is,, subject to the
continuation of the Remaining Company Contracts, the most financially significant of which is an
investment advisory agreement between Sierra and SIC Advisors LLC, which the Debtor expects
to continue through at least December 31, 2021, subject to further extension.13
As of July 6, 2021,
13 The Debtor anticipates that Sierra’s contract will terminate on December 31, 2021, subject to further extensions to
permit Sierra Income Corporation to extend the termination date until February 28, 2022. As set forth in the Sierra
IMA and required by the SEC of all IMAs of this type, the agreement may be terminated at any time, without the
Case 21-10526-KBO Doc 244 Filed 07/06/21 Page 54 of 82
-49-
12957744.v3
the Debtor’s subsidiaries are also currently holding approximately $3,741,806 on account of the
Remaining Company Contracts, which they are entitled to upstream to the Debtor upon completion
of the Remaining Company Contracts. Absent continuation, of the Remaining Company
Contracts, the Debtor expects that the clients will seek the return of some or all of those funds.
The Debtor therefore expects that the net proceeds of the Remaining Company Contracts will
provide a significant recovery for Allowed Claims.
"
Shiv, were you able to put together a conference call line for the meeting?
'7' filings up there now.. haven't looked through them yet...
well it's November 29, 2023 and nothing on pacer 'yet'....
ABUS ($1.90) 'might' be time to put this one back on radar? https://stocktwits.com/bs010101/message/552178969
per the last 10k (no clue if these larger holders still hold their shares?):
https://www.sec.gov/Archives/edgar/data/1496631/000149663116000088/nbcb-20151231x10k.htm
fyi, this is just an excerpt as there are other possible holders but they seemed small or mostly made up of options (also excluded Ashton Ryan):
Name of Beneficial Owner
Number of Shares
Percent of Class
Greater than 5% beneficial owners
Castle Creek Partners IV, L.P. (1)
2,205,382
11.47%
*EDITTED* found a sc13g where FMR went to 0 shares*
FMR LLC (2)
1,710,009
8.89%
*EDITTED* found a sc13g where FMR went to 2,079,285 shares*
BlackRock, Inc. (3)
1,403,152
7.30%
*EDITTED* found a sc13g where Numeric went to 0 shares*
Numeric Investors LLC (4)
1,091,851
5.68%
------
Louis V. Lauricella (14)
211,183
1.10%
******
(1) Based on the Schedule 13G filed with the SEC on November 9, 2015, Castle Creek Partners IV, LP, Castle Creek Capital IV LLC and John M. Eggemeyer III may be deemed to be the beneficial owner of the reported shares. Mr. Eggemeyer is a managing principal of Castle Creek Capital IV LLC, the sole general partner of Castle Creek Partners IV, LP. Castle Creek Capital IV, LLC and Mr. Eggemeyer each disclaim beneficial ownership of the reported shares, except to the extent of their respective pecuniary interests in Castle Creek Partners IV, LP. The business address for Castle Creek Partners IV, LP, Castle Creek Capital IV LLC and John M. Eggemeyer III is 6051 El Tordo, Rancho Santa Fe, California 92067. Does not include 364,983 shares of Series C preferred stock, which are convertible into common stock subject to certain exceptions, including that the conversion will not cause the holder to own or control in the aggregate more than 9.9% of our common stock without prior regulatory approval.
(2) Based on the Schedule 13G filed with the SEC on February 12, 2016, FMR LLC and Abigail P. Johnson reported shared voting and dispositive power over all shares beneficially owned. Their address is c/o FMR LLC, 245 Summer Street, Boston, Massachusetts 02210.
(3) Based on the Schedule 13G filed with the SEC on January 22, 2016, BlackRock Inc. reported shared voting or dispositive power over all shares beneficially owned. Their address is c/o BlackRock, Inc., 55 East 52nd Street, New York, New York 10055.
(4)
Based on Schedule 13G filed with the SEC on August 16, 2016, Numeric Investors LLC and Man Group PLC reported shared voting and dispositive power over all shares beneficially owned. The address of Numeric Investors LLC is 470 Atlantic Avenue, 6th Floor, Boston, Massachusetts 02210, and the address of Man Group, PLC is Riverbank House, 2 Swan Lane, London EC4R 3AD, United Kingdom.
(14)
Includes 200,000 shares held of record by Elmwood Banking Investment, L.L.C., a wholly-owned subsidiary of Lauricella Land Company, L.L.C., an entity for which Mr. Lauricella serves as managing member, and options to purchase 9,600 shares of common stock.
*Please do your own DD, i did not exhaustively search every single filing..etc... above is just for amusement purposes*
"no options will be struck below $1." Thank you Shiv! 'This' is what i was looking for..
I 'really' think the options need official, 'in-writing' strikes associated with them....
AdHoc, you still around? The discussion you were hoping for is happening....
I was recently at a cannabis incubator group with investors put on by someone very successful and known in the industry; I pitched the NOL angle and how we could have the 1st profitable cannibis company and needless to say he wanted to hear more....
raising funds... selling shares.... shouldn't be hard after this ball starts rolling imo
then their rollup strategy can come to fruition
but first we must start this race..........
we're all lucky to have E.I. and Freddie here as they are the best in this NOL game... imo