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Wakey wakey filings starting to drop
This stock is a no brainer, especially at the current PPS. Just need eyes. Started loading today.
Filing the 15 is a positive step.
Filing the 15 is a positive step.
OTC is all about future potential. That's why the stocks are in the pennies. This stock has immense future potential. If everything starts falling into place, it will jump.
Judge Jones has yet to rule on anything. This is gonna get good.
Last I checked my shares havent been cancelled
Find a stock that has a better SS with limited/minimal convertible debt, along with market cap under a million and PPS below 2 cents. Protip: you can't.
Market Cap under a million. Float around 13 million. Very little convertibles, if any. This is gonna pop hard.
The stalking horse bid by Simon sets the floor, the "reserve" in an auction if you will. They arent a serious buyer as in they would increase their bid to win. For being the stalking horse bidder, they are given a reward since they might end up getting something they never truly wanted. Hence the percentage of the wiinning bid. It all makese sense now. Everyone is waiting on the EU approval to move forward. Amazon is in play.
He's talking about Amazon/Google/Verizon not Jcpennys.
Why would he put his finger on the trigger?? Indoors with people around I bet. Really dumb.
WE ARE PINK!
They throw us a bone, but its not the full valuation we want. They might offer a number where they believe shareholders would walk away without a huge objection. I think 1 to 2 dollars, possibly. Or they might just rape us and leave us hanging. However, that will take time.
Mcdermett was almost 10 bill in debt and falling further. It was either accept the plan or liquidate, which meant destroying thousands of jobs. I don't think Judge had a choice.
What was the fraud and criminal behavior you speak of with Mcdermett? Mcdermett was a dumpster fire of debt, there weren't any options except the plan. And the SEC lawyer was objecting rule to keep shareholders from suing certain parties, not actual fraud?
100 percent. Thanks for always sharing info. JCP got caught with their hand in the cookie jar. Judge is obligated to report possible criminal behavior, perhaps even report to SEC. This could end careers.
WOW substantial value beyond debt claimed! unreal
Best Buy was cranking today. I've never seen it busier, even during xmas. Obviously not the same as JCpennys, but big retail is making money hand over fist right now. Back to school, back to life. Everyday the case for the shareholders is getting stronger. The bankruptcy is a joke, large debt not due for a couple of years. They definitely had options, look at the interest they are garnering. Question is, will shareholders get a fair shake or will we get raped? I like the risk/reward possibilities.
She's like that rookie trader who sells everything in a panic. I hope her greed ends up being her demise.
Exactly. 30 million shares at .30 cents is 9 million dollars. That's a lot of money to leave dangling in the wind.
Hopefully a bidding war with Amazon.
Institution being out shouldn't be surprising. They have a fiduciary duty to their customers. Once the tide changes on a stock they bail, doesn't matter to them, they have tons of other stocks they are involved with. The fact that insiders are still holding is more telling.
The judge also judges on fairness within the law. That's why there are petitioners from every side. Numbers count. even criminal judges work on fairness within the law. Hence the title, "judge"
The judge controls the show.
I believe when they filed for bankruptcy they thought Corona was their death knell and to save the iconic brand from oblivion they made a bold move even though their balance sheet wasnt as bad as some other companies that filed like gm or Hertz. Since then they've shed costs, sold off underperforming parts, and streamlined. Most surprisingly, their online biz gained traction and the stores also since the world began to re open. They increased their cash and made a lot of money in n the last quarter.
If anyone here wants to get better info on JCPNQ check out stocktwits board. They have connections to people involved in the process from shareholder committee.
That's your opinion. The numbers look pretty good to me. At .30 cents it's a great risk reward. Key is the decision makers which includes the judge who will weigh any deals, and he will use numbers believe it.
Of course shareholders can be left out, thats the whole point of the risk. If it were a sure thing the stock would already be at 5 dollars. Risk reward. What's in the shareholder favor, however, is the numbers. The assets, including 1.3 billion in cash and counting, real estate, a profitable business -- as seen by the 400 million made the previous quarter, inventory, annuities and insurance, goodwill, indicates value in all tiers of investors.
If he did buy prior to bankruptcy, it wouldnt surprise me that he has been buying again to average down, believing in the value of the company. The past quarter financials shows he was right. Wouldn't surprise me if there is a bidding war.
"Lasry's hedge fund has piled into the stocks of companies who have recently filed for bankruptcy, including Hertz and J.C. Penney."
This article says he bought. Doesn't specify before or after bankruptcy but I'm willing to bet he still owns them.
https://markets.businessinsider.com/news/stocks/covid-19-a-once-in-lifetime-opportunity-investors-marc-lasry-2020-7-1029379649#
You have no idea what you are talking about. This will hit a quarter before it ever goes to less than a penny. Watch an learn amateur.
I was in HSSHF when they were halted due to selling the company.
Also remember they have inroads to the India market which is huge. Here is the company whose assets they acquired in May:
https://2132.io/
Again, they were already profitable without Closecomms.
They do E-learning which will be huge because of Coronavirus. They picked up Closecomms in May. They have yet to tally those earnings on their reports since last Q was for end of March. They are OTCBQ with audited fins. Most importantly, XDSL is profitable with a market cap under 1 million. 52 week high was over a dollar.
Sure dilution sucks, but they needed capital to foster their business. A business that saw its first profitable quarter. There aren't many OTCBQ companies that have a market cap under a million and are profitable. I believe the sudden spike in convertibles brought this to the current low. I believe it is a buying opportunity because the company is worth much more.
They had upwards of $800,000 in convertibles that could be exercised. Volume has jumped since around 14 mill OS. Now OS is almost 30 mill. Let's say 15 million shares used for convertibles. At a discounted price, lets say the AVERAGE converted price was around 5 cents, which is reasonable considering the price was over 15 cents just a few weeks ago when the volume was already spiking. That brings us to around $750,000 converted. I'd say they are just about done or close. Just my opinion. I'm buying is tranches.
I just looked through their quarterly. The drop in price and increase in shares are definitely due to paying of convertibles. By my estimation, they are done or maybe almost done. No notes due for a while after. The bulk of the notes will be cleared. In my opinion, this low price is a great buying opportunity.
Tah dah!
This is getting frontloaded. Get ready for a boom.