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Unless they dissolve the corporation. Which if you read the Chapter 11 plan they filed it specifically states that after all payouts are complete , they will fill to dissolve the corp. They can file anytime and do not need shareholder approval. Dont' remember the exact wording, but its in Docket 671 under corporate actions if i recall. So not sure there will even be a shell to sell when its all said and done.
never mind.. IPO.. duh.. sorry.
Why is there no chart on this? Every chart i look at shows just today. Just wondering
Thanks
NO sure your point ?
OKLAHOMA CITY, OKLAHOMA, APRIL 18, 2017 – MEDICALLY MINDED, INC.
(OTCPink: MMHC) (the "Company"), now named Sixty Six Oilfield Services, Inc. announces
corporate direction for expansion. After completing the acquisition of 66 Oilfield Services,
LLC on March 14, 2017, James Frazier, President and Chief Financial Officer the Company,
said: “We have submitted an application to the Financial Industry Regulatory Authority for a
market announcement of the Company’s legal name change to Sixty Six Oilfield Services, Inc.
and a change of our ticker symbol to reflect the new legal name. The Company has requested and
received a new CUSIP number.”
Mr Frazier further remarked: “As the oil equipment industry evolves, we are excited by the
opportunity to grow, expand and become an even larger player in the market. We are diligently
working on preparing a Form 10 for filing with the SEC that we expect to engender an
improvement in the Company’s market position. While we pursue the Form 10 registration
statement process, we will maintain our focus on growing our core business of sourcing, selling
and renting oil field equipment.”
The Company is now a third-generation heavy oil field equipment company founded by J.C.
Houck in Oklahoma in 1959. The Company is focused on supplying the oil industry with custom
drilling rigs, heavy-weight drill pipe, drill collars, pup joints, pony collars, handling tools, tubing,
casing, blow-out preventers, engines, compressors and other select equipment to customers
world-wide through our facilities in Oklahoma City, Germany and Dubai. The acquisition of 66
Oilfield Services, LLC is expected to enable the Company to grow faster with better access to
the capital market. Mr. Frazier explained: “We believe that the new administration will be a
positive force for the oil production industry. Our plan is to substantially increase Company
value through an expansion of services and acquisition, resale and lease of more equipment for
the oil drilling industry. This move will allow our strong management and executive team to
rapidly grow the Company with our proven technical and logistical track record of high
performance.”
Current owners of this seem to have a history of making $$.. vs old owners did not. Just because this was something else before that failed does not mean the new owners are doomed to the same fate. This is a new company with new products and services that took over this shell less then a year ago. So ya, while I agree old versions were crap, Look at the filings and income and assets of new owners.. seem to be a brighter picture with a positive future.. Time will tell.
be careful.. same 8K states.. On January 8, 2018, Bemax Inc. (the "Company") filed a Certificate of Amendment with the Nevada Secretary of State (the "Nevada SOS") whereby it amended its Articles of Incorporation by increasing the Company's authorized shares from 1,050,000,000 billion to 1,800,000,000 billion. The Company's Board of Directors approved this amendment on January 8, 2018 and majority shareholders of the Company's issued and outstanding shares approved this amendment via a written consent executed on January 8, 2018.
Undervalued stock, that has been under the radar getting noticed. Read thru the posts.. lots of good info.
HI, good info. 20% equity would still put valuation around .014 per share based on some of the calculations others have done. So still seems way undervalued here. IMHO.
At least...Not sure why this was trading so low.. Don't see any reason that it should be. They have no convertible debt, and a plan to pay off what debt the do have.. Positive EPS ..whats not to like.. Sure its not exciting like CRYPTO.. but who cares. Probably just needed some eyes on it.. next week should be fun.
SSFO Closed HOD... This in itself is amazing..
Most companies would just raise the AS and turn on the share printing press.. Not here !!!
The Company has approximately $399,000 in convertible debt originating in transactions before the acquisition of 66 Oilfield Services, LLC on March 14, 2017. The Company and the debt holder have agreed to suspend convertibility and the accrual of future interest on approximately
$377,000 of principal, to extend the maturity date to September 30, 2020 and to a payoff of that principal and accrued interest through June 30, 2017 for a total fixed amount of $450,000, paid
in eight installments beginning September 30, 2017
NO CONVERTIBLE DEBT.. so dont have to worry about some MM dumping shares here.
Book Value is over .01 positive cash-flow.. EPS of .003 x 20 = .06
How many PINK / OTC companies even have a positive EPS to even be able to calculate a PE ratio !! lol.. this should run big next week. imho
This in itself is amazing..
Most companies would just raise the AS and turn on the share printing press.. Not here !!!
The Company has approximately $399,000 in convertible debt originating in transactions before the acquisition of 66 Oilfield Services, LLC on March 14, 2017. The Company and the debt holder have agreed to suspend convertibility and the accrual of future interest on approximately
$377,000 of principal, to extend the maturity date to September 30, 2020 and to a payoff of that principal and accrued interest through June 30, 2017 for a total fixed amount of $450,000, paid
in eight installments beginning September 30, 2017
NO CONVERTABLE DEBT.. so dont have to worry about some MM dumping shares here.
Agreed
Ya.. not sure what those are. I know from the court docs, the class 3 unsecured claims pool is very large. Since it is not settled yet. my guess is it doesn't show up here? I dont know the whole process for paying claims and debts. If , for example, they had already paid all claims and had 34 mil left.. well, that would be good.. But i know that is not the case as there have been Dockets filed with the court in the last month in regard to disputed Class 3 claims.. So that can only mean those class 3 claims have not yet been paid, because they are still in dispute.
I think they have to file this statement of there accounts every month.. so looking forward to seeing the next one and what if anything may have changed
HI .. Some of you have sent me private messages asking questions. I dont have a premium account, so i cant answer.. Sorry.. I will say any and all info i have posted is based on my DD into the court docs.. its all there.. just takes a little time to go thru it and understand it.
But if you want to .. check out Dockets 671 and 672 here..
https://cases.primeclerk.com/CIBER/Home-DocketInfo
This is the basis for everything coming down the pipe here.
This is a dynamic situation.. so things will change from those Dockets that were filled in Oct.. But i think they give a good over all view of what is and may happen here.
HI. I looked at the 8k this statement "All debtors bank balances as of October 31st have been reconciled in an accurate and timely manner".. is just saying that the info they are providing in this 8k about their ( Debtor) bank account balances is accurate (reconciled) and up to date This is not talking about people they owe $$ to..
I'll have to look. But the Debtor is the term used to refer to the corporation in debt. Not The Who they owe. Example. . Dip financing = Debtor in possession. What he might be referring to is. Accounts or balances that occurred after declaring chapter 11. For example again. The DIP loan they got for 45 mil. That is paid directly and out side of the chapter 11 claims process as it occurred after the chapter 11 declaration date. The class 3 unsecured claims pool are claims for moneys owed previous to the chapter 11 declaration. That has not been paid yet and is still in process of being worked out as to who and how much the owe on these claims. From my understanding.
That's the thing. I don't know who has been paid and who hasn't. I don't think they can start paying any class 3 claims until all are resolved . Other wise they would not know how to divide up the dollars evenly.
Depends what happens with the class 3 unsecured claims. There are 4 classes. Class 1 and 2 are secured priority claims. So they get paid first. That's was around that 2 million That's a done deal. What ever is left over gets added to the class 3 reserves. Then they start paying approved class 3 claims. When there done, what's left gets divided up between the commons. If you want honesty and not bs. In the same document there is a estimate payout schedule at the end. You can read it if you don't believe me. But it shows worst case 0$. Best case .022$. Again that is based on the estimates and numbers and claims the had back in Oct. the reason it can't be nailed down is that they ahave to continue to pay administration costs to lawyers and such through through this process and there ar a number of larger contested ( not approved yet) class 3 claims. The total filed class three claims was listed at about 180 million. So if these all were allowed you can see the 22 - 180 = nothing left for class 4. But about 170 mil of these are contested. So the could get rejected completely , or some settlement could occur. So again. Don't believe me. Read the docs. Make your own decisions. This is a dynamic situation, keep an eye on the newest filed docs. What for ones that are related to class 3 claims being rejected or settled. That's is what I would do if I were still in. I posted all this info Monday last week. But of course the pumpers dismissed it Notice they are not around anymore ether. Also I agree that there are some large share holders still here for some reason. They seem to think there will be a pay day. So maybe there will. Idk. But from what I can tell. It will not be much more and could be less then where this is trading right now ( probably the reason it is trading in the .02 range at the moment ). Hope it works out for you guys. I am still watching from the side lines and checking the filings daily. Will jump back in if some positive development occurs with these class 3 claims. That's the key. At least for any pay outs. There is also the value of this as a shell. If it can be sold to a Reverse merger candidate. Then that might make it with holding longer term. But that I don't know.
No idea what he is talking about.. Yes, last 8K shows about 34 mil in the accounts.. In Docket 672 page 53 they talk about setting up Claims reserves. so not sure that 4 mil he is referring to.
They said
$2,000,000 will be deposited in the
Administrative and Priority Claims Reserve,
$6,000,000 will be deposited in the Wind Down
Reserve.
estimate that $22,000,000 will be deposited in the General
Unsecured Claims Reserve, before accounting for the payment on account of Zayo’s Class
3 Cash-Out Election (discussed below). After accounting for Zayo’s Class 3 Cash-Out
Election, the Debtors expect that approximately $12.3 million will remain in the General
Unsecured Claims Reserve. However, this estimate is subject to change between the date
hereof and the Effective Date and does not include approximately $2 million in estimated
post-Effective Date receipts.
Pretty much everything you need to know is in Docket 671 and 672..
Well. thats the starting point.. LOL..
What appeal. Got a link ?
Read thru the whole Chapter 11 plan filed with the court.
https://cases.primeclerk.com/CIBER/Home-DocketInfo
Dont see anything related to allocating 4 million to unsecured and the Second question is, unsecured what.. class 3 ? If so, common share holders are class 4. So not going to see a penney of that if the unsecured Class 3 claims are larger then then the class 3 reserves. Only chance for any $$ from the corp here is if they can payoff all Class 3 unsecured claims and still have something left.
What 4 million for sales of assets ?? Which assets are you referring to that have they not yet sold that are worth 4 million ?
In my opinion It came off because the corporation changed names and is no longer in chapter 11. But this case is unusual because they did not continue operations as Ciber. So the Q came off. Idk. Might just be related to regulations
Since no pay out has been determined yet, there is no date yet..
If and when there is a payout figured out, they will have to inform via some method of the date and how to claim the payout..
Yes, agreed. If they had sold some, they would have to file a Form 4 within 2 days.. so.. seems as though they didn't sell any on the pop to 5..
So in the words of Buffett, "crypto's will end badly, and its a bubble".. BUT at the end of the video, when asked if he will bet against crypto's .. he says, NO, because he doesn't know anything about it. Kinda makes his first points invalid, because he admits he doesn't know anything about it. lol
Ya, I am saying the boiler plate wording of the forecast is the same..It is not written by a person. It is a template that gets added to the page. and the ridiculous price target is the same. ( Its just as ridiculous, for KODK to have a 1 price target as it is for CTMSU. So in my opinion, this is just a automated thing this web site is doing. The calculation as well is automated. Seem to me anyway.
I replying to his question about Recent Purchases, not whether the data was current or not. It is because it is filed with the sec..so that info is current and updated.. yes.. i agree.
Didnt even know it shows up here.. But see it now.. I guess, some one has to tell them to take it down? IDK. I think most know that hang around here. Just seems like everyone was hanging out waiting for the run past 3's because that was where we were headed when the CE was added. CE removal, while a positive step..had to many " Sell on the news" types ready to sell.. then it didn't get as much attention as people thought, so they sold, and moved on.. Sucks, but it is what it is.. We should drift back up into the 2's again shortly..Will probably take some news to pop this up past 3
I would guess this sight, like most are automated..Info is updated as it is filed or available. The Finacilas are from last year.. The company descriptions if for CIBER which CMTSU is no longer. The stock price obviously is current.. as are the filings.. because those things are current and being updated daily.. The " analyst " thing is just boiler plate, or some automated thing.
IT says the same thing for KODK under the forecast thing.. Which obviously is wrong.. but what ever.. believe what you want..
http://money.cnn.com/quote/forecast/forecast.html?symb=KODK
There is no recent purchase,only sales.. Legion bought shares last year Feb..at about .28 ish.. per share.. Sold some in May , sold some in Nov.. currently still hold about 10 mil.
It also shows the earnings that all this is based off of are from Feb 23rd. Since its not Feb yet, only conclusion is its from last year before the bankruptcy..
Think there was a bunch of folks holding for the CE removal..Hoping for a big run.. Since it kinda was lackluster, they are moving on. Its OTC ya know.. if it doesn't run a jillion percent in a hour, its time to move on ! lol..
1) HTC does not own or have anything to do with the shell CMTSU, not sure why people think it does. HTC bought the business operations ( IP and assets), not the corporation. The corporation that was Ciber, is now CMTSU. They changed the name of the corp to reflects its new purpose. ( Stated in the court docs)
2) You dont need a pacer account.. All court docs are here.. docket 671 and 672 are a good staring place
671 = Plan of reorganization/liquidation
672 = Discourse statement ( dollars and expected pay outs)
https://cases.primeclerk.com/CIBER/Home-DocketInfo
Ya.. that i dont know.. I do know they changed the name of the corporation to CMTSU at the same time the Q came off and which was the EFFECTIVE date of the Chapter 11 case ( 12.27.17) If you read about chapter 11 cases, usually they will issue new shares for the new "emerged" company. Those shares and ticker will not have a Q because the are post bankruptcy shares. So i wonder if they just did a 1 for 1 share exchange .. Old CBRIQ to new CMTSU. and thus the Q comes off? idk.. I will agree it is unusual, just don't know if it has any major significance.
What I mean by " gave up" is that the usual point of a Chapter 11 is to put creditors on hold, Get DIP financing, take a breath and work out deals with the creditors so you can restructure your debt, and then continue operations. If their plan all along was to just liquidate, the could have done a Chapter 7.. So I don't think they initially planned to sell off the assets. Thus, I don't think they were open to a buy out at that time, especially at .75 per share. That actually is pretty low fore what they were valued at, at that time. I think they tried to figure out a way to come back out and continue, but in the end found that the best option was for the 363 sale of assets. and we know the rest .. I think i read in one of the court docs, that that was basically what happened. Anyway.. I agree. Legion holding shares is interesting. I am sure they want compensation, but they are technically no different then you. They just have more shares, but that does not offer them any more rights to payments in the chapter 11 case then you. Also, they bought those shares in Feb 2017 at around .28 per share.. SO, they are not a long time stake holder here. I think they took a risk, and got F'd just like everybody else, but again, my opinion. But i will agree, the fact they are still holding is interesting and worth keeping a eye on this.
Ok. I think I see your point now. Your saying since Ciber rejected an offer last march for .75 a share, that your thinking the path they chose ( chapter 11 , sell assets to HTC, ect ) will end up in the end with more for the commons then that deal would have. I see your point but it seems more likely they were thinking they could save the corp some other way , and finally gave up. Idk. Good luck. ( mean it). If facts change and new info comes to light , I will jump back in
I don't know the rules about the Q on a stock symbol once the corp exits chapter 11. All I can find was that for a chapter 11, most cases , a Corp will cancel the Q shares and issue new shares, the majority of which go to the debt holders as part of the restructuring of the Corp, and some might be issues to the old Q share holders. But that is for a corp that hasn't sold its operations and plans to try to continue as a business. That obviously is not the case here as they sold all their operations. So there is no business to operate after exiting chapter 11 which they did on 12/27. Since they no longer are in chapter 11, my guess is the Q gets dropped. The shares are still there because they have to be. The corporation still exists. The can't just delete the shares. Also as I said , if there is a payout, the share structure must remain in tact until the know what it might be.
As I said before. There maybe some left there may not be. You won't know until it's all said and done. I agree that the large holders hanging on might be a clue. Maybe their plan is to take over the corp once liquidations are completed. Empty shells have value. But what value idk.