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How about another letter to the judge? Seems like a good time. Your first one got his attention maybe he'll start thinking about an EC again considering the current news. Not sure if the numbers have changed which is all that matters though.
We still need a seat in that room. If he even puts out a notice of reconsidering an EC this will fly another 100%.
Yes sir. Can't wait for the panic buying to occur.
I have some margin clearing up today from option expiration. Hopefully it doesn't happen til Tuesday. =]
I say let the bid grow. The bigger the better. Once we get news and they start chasing the ask this thing will pop significantly, quite similar to a short squeeze. I can see it going to .0005 if/when that occurs. I'm glad to have built up a decent position the past couple of months. GLTA
Just letting you know that your letters are spot-on. I believe you may have been the one that even initially caused the judge to place the EC into consideration? I appreciate your efforts.
Good Luck
I think everyone here agrees on the future of solar. But people on here are using the industry as a whole to justify putting money in SUNEQ. This is absolutely ridiculous.
The question I have is why would anyone "investing" in a booming industry put there money in the one stock that is in bankruptcy while there are other safer solar opportunities out there?
Putting money in this now is nothing but a gamble that all depends on 1 thing and 1 thing only... The judge. And even with an OEC we're still not guaranteed anything.
Investors: find another solar stock.
Gamblers: pray as odds are very slim
Disclaimer: I'm holding tons of shares and a $hitload of options - down 90%+. I've written it off already but hoping for a miracle.
Lol. I'm sorry but this post is being killed on twitter.
Haha. Lunch break and I'm here on IHUB. love it
I'm new here and still getting my head around the company and the mining industry in general. I just finished reading the DD page from I.T.M.D last night. Lots of info and wasn't sure if the info in the article had been mentioned or rumored to be in the works anywhere. It seemed good so I posted the link. Haha
To all of you who've been here a while this news seems fantastic. Yet we still sit @ no bid/triple 1's.
How do we get that article to the Wall Street Journal? We need more exposure.
Anyways good luck to all. I have a large AMZN earnings play in about half an hour. If all goes well I'm gonna pick up more BMIX.
Back to work now. I'll check in later!
No sweat here. Only $2.5k in BMIX so far but using dividend payments to add a little more as they come in.
Down 15k on that BK stock SUNEQ (was $33/share just over a year ago)
Plus I own a bunch of Calls. Hurting bad on that one and watching the case closely as there's no point in selling my shares now. BK judge should decide very soon what happens with equity holders.
BMIX is my only pure spec play at the moment. Still trying to get a feel for how much I wanna put into this thing. I saw the no bid and wasn't sure what to make of it so I'm gonna hold off for a while till we get some news and I do my own Sherlock Holmes research on the CEO.
Good Luck
Nice try. But no that's not my intention. My post ended with a question mark didn't it?
I just posted what i saw on another site and wondered if i was seeing it right as im not subscribed to Level II.
How about answering the simple 2 word question I asked instead of playing the Sherlock Holmes role?
Im long just like you. And yes i picked up more since my 1st 10M shares.
No Bid?
Again this means nothing for us as its not included in the BK. The only chance we have is if the judge forces them to include it, and we need an OEC to voice those concerns.
The whole purpose of us getting an OEC is so that we have someone fighting for our right to get a piece of everything. Without the OEC we get nothing, but even with it we might still get nothing if the judge decides so.
The price will move when the judge decides on the OEC. It's our only chance at anything. If we don't get one then it's game over.
I disagree. The rumors of this deal began around that time of the letter.
And the main concern of the letter is this:
"The sale of such a significant part of Debtors’ Enterprise, without the participation of Equity Security Holders,
would set a dangerous precedent in the Bankruptcy Courts. It would enable future petitioners to game the
system, effectively restructuring the Company without giving shareholders due process with respect to voting
rights in such Restructuring cases.
Please consider Debtors’ actions explained above as another example of how they are abdicating their fiduciary
duties to Equity Security Holders, and why the need for an Official Equity Committee is proven and urgent."
What makes you so sure that money comes to us in bk?
If this were the case the stock price would be moving by now.
Docket 848.
This is spot on and is what I was referring to. There's the BK side and the non-BK side.
We shareholders of course are on the BK side, whereas TERP, GLBL, India, etc. are not.
Seems criminal that a company can do this. We invest in the fundamentals of a company as a whole, yet it's split up in the end, and shareholders get thrown out with the junk.
Hopefully the judge sees this nonsense.
Again I don't understand. I asked a question earlier but no one answered. TERP, GLBL, India assets aren't included in the ch.11 bk. Unless they give us new shares this doesn't do anything for us. I'm holding a bunch of shares so I'd love to be wrong here.
So this may help them get out of ch. 11 but they can still cancel our shares.
Anyone?
4.5M Volume?
A whopping $900 in shares traded today. Doesn't seem right.
Can someone explain to me please?
If TERP and GLBL aren't a part of the Ch. 11 BK, then how does that affect equity holders? It doesn't seem that we'd be a part of that.
From 16B in liabilities to 4.5B... I like this.
I also like that the asset value they state doesn't include everything as much of it is listed as "unknown". Though Sune themselves stated total assets could be up to 1.5B last week.
Now if the judge forces them to include (if he even has the power as I don't know the law) TERP & GLBL + India + everything else I think we'll be in the money.
I hope we get a better valuation of the "unknowns" soon.
GLTA
In with a starter position at 10M. I like what i see here.
GLTA
I did somewhat of the same thing. Bought the .50c calls a day or 2 before bk was anounced, only about 250 contracts though plus a bunch of shares.
Again I don't think this was a retail trade as it's not possible to buy option contracts on a BK stock.
It's already quite risky to buy a 'Q' stock in the first place with $100k, but to place a bet on a 4000% move in 90 days is an even crazier gamble because if it doesn't happen you lose it all. So unless somebody knows something, the trade doesn't make any sense.
After some thought, I think this could be a hedge for a large short position, or it could have been put together as a spread.
If you buy 35k for $1 and then sell 35k for $1, you essentially have a free trade, not accounting for commissions of course. It's quite brilliant idea but still trying to figure out who's allowed to trade these contracts?
Exactly. My broker only allows closing positions. This is why I don't believe this was retail. Could be someone on the inside or some hedge fund making a small bet.
It's a crazy bet though if it is one. We're talking about a 4000% move from today's price between now and October!
I hope that's someone with an inside scoop rather than someone gambling.
~ $80k plus commisions
Call Action Oct16...
35k 3.50
39k 4.00
my broker will only close out positions and won't allow option buying for BK stocks?
Judge gonna by some shares first. =]