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i.e. We're Boned. I just finally sold.
Motion to convert Chapter 7 granted. Objection by debtor (Cereplast) was withdrawn.
You know Scheer needs that Safe Harbor to park his yacht.
Why do you think BK proceedings will go so quickly? ATRNQ, for example, has been in BK for over a year and a half.
Lol. That must be the reason for the reverse split. "D" instead of "Q", at least for those couple of days. Ahhhh, desperation.
CERP was originally going to be auctioned off as an entire entity, and the buyer could have continued operating the company under the CERP ticker - making the shares still worth something.
Do we know when we'll hear the judge's final ruling on the BK? I'm wondering if we could go back to the original situation, where CERP is auctioned off for Horizon, but it continues operating "under new mgmt". Still a possibility?
Cool. Thanks for the info!
If you don't mind me asking, how long before the R/S did you purchase your shares? a couple of days/weeks/months?
Has anyone gotten their post-R/S shares yet? I called my brokerage company and they said it depends on the actions of the company when the shares are transferred. And if no one has their new shares, then CERP may be holding out.
Lol, you said it. If it doesn't go through, I guess CERPQ continues to gasp along. I bet it'll see a nice uptick though, as one very negative potentiality is removed.
Interesting. Thanks for keeping tabs on this. You're doing quite a service to the board.
Ah, so a decision is expected within the next few days?
What about the Horizon complaint / Chapter 7 ruling? Was that today, too, or is that coming up? Or is this just kicking that decision down the road a bit?
Any word on what came of the hearing?
So how long do bankruptcy / re-orgs usually take for a company the size of CERP?
Thanks, Renee. I'm sure there is no end to Scheer's sleaze. So I'm definitely preparing for the worst.
Renee,
Am I wrong in thinking that if Horizon auctions off CERP to a party that is interested in continuing operations, that CERP stock still has value? Or do the shares just evaporate?
I say good. I think Horizon auctioning off CERP to one of these "interested parties" who will continue operations is awesome. The problem with CERP is/was Scheer. With Scheer out of the picture, CERP has a chance to grow. And that chance to grow will make the PPS recover, at least to some degree.
The fact that Scheer is so eager to reneg on his previous agreements, is proof of his sleaze. Good riddance.
Eesh. Look at 11 - 14 - iii
Paraphrase: They're not operating the biz and aren't paying employees.
Scheer knows he's done. Although Cereplast might not be - it's being auctioned off as an entire entity and whoever takes it over might actually do something with it. New management might be enough for this thing to run again.
Btw, I think this is why the price has held relatively steady, and hasn't fallen into trip 0s.
That's what I'm starting to think. I doubt you could get much worse than Scheer at any rate. And given that whoever buys this will have less debt (already defaulted a some of it), makes the company more attractive as far as the books are concerned.
Of course, buyer beware, but I'm going to hold and see what happens.
To the upside, whoever buys CERP will be able to take it over with less debt. ;)
Basically, there'll be an "Under New Management" sign in Seymour. Might actually be a catalyst. You never know. It was CERP's getting in bed with the toxic financiers that shot the PPS up to 0.068 from 0.01.
Hey, less dilution. Perhaps why the PPS was able to stabilize where it did today.
You can count on the dilution. How's that affect your predictions?
What's your target sell point?
OTC Market is on hold. FNMA and others aren't trading either.
Where are you looking at L2? http://www.otcmarkets.com/stock/cerp/quote gets buggy on some days. Even the OTC market has had issues before.
When did he make that promise, the last CC?
Was looking at posts around last Jan. 17th, and it's interesting to compare the situation CERP is in then as it is now.
THEN: Was about to default on a Wells Fargo loan. Had just made 700K in the 12 months.
NOW: 1 billion shares outstanding. Made 2.5 million in last 12 months. Diluting 30-40 million shares a month.
The best part is the catalyst that triggered the run to 0.045. Anyone remember?
It was an announcement that they had just entered a deal with Magna and Hanover to pay off their existing debt and interest payments to avoid default. This was the start of dilution, and it caused an epic run!!!
If the beginning of dilution can start an epic rise, I don't see how it'll be powerful enough to prevent another climb.
Anyone think I'm just dreaming that this bounce could take us to 0.035 in the next couple of months?
Anyone watching the L2 action? How's it looking?
Well, if there's anything good about this drop, it's drawing attention. CERP's back on the most read and most posted board lists.
Exactly. We're currently priced the same as last Jan. when CERP was on the verge of bankruptcy. Even with dilution, that makes no sense.
EDIT: And paradoxically, because of dilution, bankruptcy won't happen. This should be in the 0.03 - 0.05 range.
You're talking about the negative effects of future dilution, not the current 1 Billion OS:
99% of the shares being issued are being sold immediately at guaranteed profit because CERP is selling them at a 25-35% discount to market. If I got a share of CERP at .006-.009 today I would not hold for 20 minutes as I know I will get more shares for equal automatic profit.
1 Billion OS just means more potential sellers. And at the current PPS, 99% of those sellers would be doing so at a loss. What makes you think so many people would sell so quickly that it would prevent any sort of a run?
The dilutions is no worse than we all thought. And we know it's being used to pay off old debt from their especially poor circumstances from 2012.
2 million in new debt isn't that unreasonable, considering they will probably report 3 million in revenues this year, and they are trying to get a foothold in new markets - a good reason to borrow money.
If revenues don't affect the share price, what does?
If you're going to say "Buying and selling affect the share price," then what causes buying and selling?