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And there has been no explanation as to why they wouldn’t sell to him?
Sorry for my ignorance, but what is/was Drees position with the company?
New filings out...
This one gives a run-down of the (Criminal) Events that took place during the auction...
http://www.kccllc.net/nuvectra/document/1943090200305000000000004
Boston Scientifics bid was $2.2 mil
Also,
14. In conjunction with the Successful Bid, the Debtor will seek to assume and assign to Cirtec Medical Corp. the License Agreement with Aleva Neurotherapeutics SA (the “Acquired Contract”).
Back in @ .0153... Should be a nice an easy ride back up to .02+ next week ;)
This will eventually end and those who hold will see a very nice ROI
$KWBT
Cant blame you on that one... I'm still holding here, but this outcome is not looking good.
Can't believe all that has unfolded in the past two weeks
STRAIGHT CRIMINAL
If the court rules to allow a postponement of the sale and wait for FDA decision on Virtis or allows for the $35 mil to go back to the cash balance I bet this will spike to .10+
$NVTRQ
That's exactly what I said to him... I said at the least just put out a tweet with something generic saying "we are hard at work doing our best to increase shareholder value; updates to follow!"
We'll see if he follows through...
I also asked for updates on 510 K FDA approval and if they plan to schedule the conference call as stated in the 04 Nov PR
I believe if we get both of those things we would be at .05-.10 fast!
$RMSL
I just sent a comprehensive (and very polite) email to Tom requesting some specific updates for shareholders.
Not expecting a personal response, but hopefully we see a Tweet, update, or PR here soon...
Will update you all if I receive an unexpected direct response.
$RMSL
Not surprised...
I haven’t seen any dilution/conversions either... We’ve been trading clean for the past 3 weeks!
$RMSL
Just looked up the historical data and last year the 10-K(which covers Q4 also) was received 03/29/2019
So looks like we'll get it at the end of this month with hopefully some exciting news ;)
I bet we'll get a pop to .03+ before then though!
$RMSL
Also, shouldn't we be expecting 10K/10Q fillings soon?
That could be the catalyst that sends this!
$RMSL
Almost through those .0103s
CHURN BABY CHURN!!!
$RMSL
Damn, somebody wanted out bad... Dropped the ASK all the way to .04 just trying to get out as soon as possible.
He sure is going to be pissed when this pops on good news from the court hearings...
$NVTRQ
Yup, looking clean and looking great!
Going to have to SMACK THAT ASK if you want shares... UP WE GO!
$RMSL
I see that too and I think they've been done for a while. I actually haven't seen any dilution/conversion for the past 3 weeks...
If we get a little buying pressure this can really run. Could be a HUGE day and end of week here. She can move to .03+ in a flash!
$RMSL
I actually think they may have a good chance of winning that decision...
If the total bid really is $2.3 mil then I think their case that this was sold for WAYYYYYY too cheap has merit and we may see the final sale delayed until after the FDA has made a decision on Virtis
Hoping for the best here!
$NVTRQ
So what are we thinking here guys?
Obviously this didn't turn out the way we all hoped or thought it would, but what are the positives here?
-Aleva License
-Shell for reverse merger
-Cash Balance
What else? I think there still is significant value here. Only time will tell, but this has been a painful process. My first and likely last BK play...
$NVTRQ
This is going to break out any day now... We'll be right back at .03+ in a flash!
RELEASE THE NEWS TOM!!!
$RMSL
Did you sell? I saw you just posted on Monday that you bought more...
So what you’re saying is the $2.3 million is just a cash overage on top of the ‘cure costs’ and that the actual bid price has yet to be announced...?
We are good here! Any news, updates, or tweets will send this right back to .03+
SHE IS THIN!!!
I like the support we have here and resistance isn't much. This is perfect LOADING zone!
And thank you to whoever just sold me more shares at .0092 ;)
$RMSL
Good luck here guys, I'm completely out with a decent sized loss, but would rather attempt to make it up elsewhere.
I liked the SS, but the lack of communication and prospects going forward is just too slow for me and my style of trading.
Hope it works out for the best for you all!
$MDMP
Unfortunately thats about all it has going for it at the moment
Going to be a looooooong hold to make any real money here...
Looking good here this morning! Just need to bust through those .01s and then we have blue skies...
SHE IS THIN!!!
1 mil shares at .01 is only $10,000; a little buying pressure and we will break through that ASK
Somebody smack it before I do!
$RMSL
Thanks, hope you hear back!
$RMSL
Yes, that filing is an attempt by The Official Committee of Unsecured Creditors (they speak for shareholders and the interests of NVTRQ) to have $35 mil returned to Nuvectra. They are saying the $35 mil was unlawfully payed to Lenders early in the BK process and wiped out nearly 75% of Nuvectra’s cash balance...
This would be an extremely positive thing for shareholders if approved. I have no idea the likelihood of it going through, but it is nice to know there is an entity fighting on behalf of shareholders interests.
$NVTRQ
You should try emailing or calling the person who’s name is on the filling...
Philip Magri
(954) 303-8027
pmagri@magrilaw.com
I am satisfied with all of the responses in the filing, but let us know what you find out
$RMSL
And then there’s this filing from today too:
http://www.kccllc.net/nuvectra/document/1943090200302000000000006
The Official Committee of Unsecured Creditors is looking to postpone the auction sale until after the FDA makes a decision on Virtis
5. Given the extremely underwhelming sale results, the hearing to approve the sale should be postponed for a reasonable period of time, subject to the Court’s availability, to allow the FDA to complete its review of the Debtor’s Virtis produce so that parties can determine whether the Sale is truly in the best interests of the estate.
They called the sale results “underwhelming” but without us knowing the sale price we have no way of knowing whether it is actually underwhelming or just litigation terminology used to try to get more money out of the sale price...
What do you think about this? Do you think they should have waited for FDA approval for Virtis?
$NVTRQ
Nicely done! What brokerage are you using? Fidelity won’t let me buy anymore because the stock is currently listed as a “non-reporting company” due to bankruptcy
Hoping to find out the bidding price soon! I bet Friday at the latest. Let us know if you hear from your Boston Sci contact
$NVTRQ
Thank you!
Hope we can add NVTRQ to the list soon!
That's great to hear; we certainly have a very nice Share Structure here..
Have any examples of this so I can research?
$NVTRQ
How was your previous experience... Good/Bad?
Have you ever seen a BK play where the stock price goes from .10 to $2-$4 in a week?
$NVTRQ
I'm not concerned at all... The 52 wk low is .0077 and since we hit that it has gone to .03+ twice!
This is LOAD ZONE... I spoke with Tom at the end of January and he assured me him and team are working very hard and RemSleep is going to be a game changer in the Sleep industry. I am holding my 1 mil plus shares until this takes off. It's not a matte of IF for me but WHEN. I am patient, and I know this play will pay off, BIGLY!!!
The name of the game is LOAD AND HOLD... This will hit $1 this year on contract/distribution and deal/agreement news IMO!!!
$RMSL
Thank you! Yes that does help, immensely...
After reading that I can't imagine how anyone would sell this for less than $1
Looking forward to the week ahead and finding out what the bid price was :)
$NVTRQ
Excellent post and information! Thank you for sharing...
If I may ask, what was the context of this conversation? As in, they were at one point interested in buying Nuvectra or as in they were interested in buying Nuvectra after Bankruptcy was announced?
$NVTRQ
Good morning $RMSL! Who is ready for our next pop to .03+?
It usually comes unexpected and many traders are left chasing!
Load up now; almost time to run ;)
$RMSL
Please let us know what you find out!
TYIA
$NVTRQ
How is it that your account was created in 2006, but you only have 14 posts since Jan 28 2020? And all of your posts on this board have been negative...
So what you’re saying is that it might have been better for us that this went to auction instead of stalking horse bid?
Sorry, this is my first time going through a BK with a stock and it has been very confusing...
$NVTRQ
Is it your understanding that the bid made by Cirtec was for the entire company, not just all it’s assets?
I wonder if it was a bidding war or if Boston Medical just threw their name in there in case it feel through
Still so many unknowns... But I’m glad we at least know there was a bid
After there was no stalking horse bid I was concerned that nobody wanted this and we’d get 0. Looks like now we’ll at least get something. Hoping closer to $1 as you mentioned
$NVTRQ