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The funniest moment was when I called the phone number of CERP's old office provided by Lobo a month ago. It was routed to advertisement for a trip to the Bahamas. lol, Scheer didn't even pay to have the number redirected to their new number.
They don't have time to r/s and immediately sell enough shares to raise the money? $2.8m at current share price would have been 560m shares but price will drop to triple zeros before they can unload even 100m in a day without significant news which Scheer knows better than anyone that they don't have the revenue news/contracts. Share price will take a significant discount. Horizon probably doesn't believe they can raise enough through shares as well, hence seize and auction instead to maximize their recovery. I'm sure Horizon gave CERP long enough before taking this aggressive stance.
Current shareholders will be totally wiped and will not be part of the auction! Shareholders own the company and if the company is seized and auctioned. Shareholders lose everything. Common concept.
I understand that. I meant Scheer may file chapter 7 BK in this situation to seek court protection and then liquidate to pay the lender(s) instead. I doubt there is enough assets left to pay other lenders after horizon, so I think this seize and auction is easier for him. He saved attorney fee!
Yes, you did and looks like you have been honest this whole time. Time always tells :)
Another bitter end for a penny stock, typical! CERP was a classic text book penny stock! It'll be another one that goes .0001 and bidless unless BK is filed and trading is revoked.
Loyal shareholders were the ones who bought in the dollar range when CERP was on NASDAQ! He already screwed them,99.99999999% loss. I don't believe the ones who bought in pennies are loyals, just penny stock flippers? Scheer will wipe these peeps as well in a blink!
Scheer have said plenty of things in the last few years and many broken promises! Bk was not the option back then but situation is different today and, maybe BK is the only option now.
It is now holding for a miracle? I thought CERP was the sure thing and a big 2014!! Lol
Good decision, just months late but something is better than a total loss!
And the $10m contract that Sky have been talking about this while time will be auctioned off!! Lol
I think I understand reason why CERP office have been closed! It was not maintenance break! I haven't heard of month+ long closures! They closed down to prepare for the seizure! Lol, most employees probably got layoff with or without severance package! Even Scheer's executive chair will be auctioned on the 11th! RIP to shareholders!
Peeps on the board of directors held around 8% of the OS last year if I remember correctly but since OS has grew around 50x, they are holding less than 1% now? Geez, why let peeps not holding shares decide on the future of the company?
Scheer also said Q3 and Q4 2013 was supposedly same 800% growth as the first half! But ended up negative growth in Q3, even worse than last year's Q3.
Of course the company is not done, why would Scheer quit when he can milk more unwary investors? Reverse split, rinse and repeat! Another 2b in AS, but he'll use it much quicker this time around! Scheer is not done until zero bid, just like any other penny that got milked!
Flayer - do you know why fewer and fewer people care about CERP? I thought CERP was the biggest opportunity ever as some peeps here claimed! Maybe the rest of ihub hasn't discover CERP yet? CERP is a hidden gem?
Anyone know if Scheer and company is back from their month long holiday/maintenance break yet? Are they still not answering calls and no proper voice mail greeting? I wonder if these days off are paid or not paid! Scheer and company definitely don't deserve an extended vacation based on their 2013 performance.
Dilution, AS increase, dilution, cap AS, reverse split and rinse and repeat! Death spiral! Tic toc! Shareholders will be wiped again! Total loss! CERP is a classic penny stock! I hope Scheer sends all shareholders a bio bag as a token of appreciation for their countribution!
Don't compare me to someone else who bashes to buy, pump and sell, and then rinse and repeat :) My opinion on CERP has been consistent and share price has followed. Subpenny target achieved while others have said subpenny was impossible! Slow and steady won the race! Time always tells! LOL, my next other is reverse split, rinse and repeat! Shareholders total loss :)
The view from your glass changes day to day? One day south, the next day north. I'm sure you wasn't influenced by investors relations just recently? Scheer has been saying the same for months and years but nothing but negative results on every report card day :) Sometimes it is good to make up your mind. Two-head snakes often result in both heads chopped.
The end is near. RS any day now! Dilution, increase AS, more dilution, RS, rinse and repeat! Death spiral as expected! Tic toc, time is running out! Another classic penny stock which shareholders will lose it all!
Lawsuit takes years. CERP can't even afford to make a monthly payment on a $2.8m loan nonetheless lawyer fees! That speaks volume for their revenues! AS almost maxed, RS any day now! Peeps that bought in the last few years kept hearing the same every year and thought not over yet but those shareholders who haven't sold lost 99.99999% and zero chance of recovery!
There are peeps here who call CERP not a typical penny and is a long-term stock but it is a classic penny which pump and dumps, dilutes, reverse split and wipe shareholders! Many of those were calling pennies and dimes on CERP but it went subpennies. I still remember the .17 call by one of the top posters on this board!
CERP ran 7-8 times in a year? Shareholders must be very happy! Too bad this is not the case. Pull up CERP in one year chart and you'll see down trend for the entire year including the 7-8 pump and dumps, lower low and lower high each time. I don't know how anyone can justify that CERP the stock did well in the past year! Other than flippers, CERP long-term shareholders likely lost over 70% if they bought sometime last year, and 90% plus if bought the year before and 99.999999% for those further back.
Scheer and company still on their extended holiday break? Those people dont deserve it given how poorly they managed the company!
The same was said when pps was above a penny? Cheapies went cheaper and cheaper! Lol
I'm eagerly waiting for the final blow, which will be RS! Rinse and repeat! Death spiral! Total loss to all shareholders as expected! Time will tell as usual, tic toc! Always the same result in penny land, classic! Was such an easy call!
"Additionally, you haven't lost any money unless you sold your shares." I don't agree, those who bought a year or two ago and haven't sold already lost 99.99999% and will never recover anything :)
They wouldn't have gotten chapter 11 reorg plan approved. They didn't even have enough to cover daily operating expenses minus the debt payments. Chapter 7 liquidation was the only option but Scheer decided to not close shops and milk new unwary shareholders instead :)
You can still sell and salvage something which is better than a total loss! Money is money!
If Scheer already has a $10m contract and simply withholding the news then why no money to make the monthly minimum payments on only a $2.8m loan! Doesn't add up huh? Lol
Scheer tried multiple times pumping on money tv and paying penny promoters! But the stock hardly moved and immediately went back to where it was and lower following each pump as flippers sold and more dilution!
The $10 million dollar contract hype will eventually adversely affect the stock price as shareholders learn that there is no such contract! Remember, Scheer has never held back contract news, and not a $10m contract which is a material event that should be disclosed! Scheer fail in every report card day when the truth is to be revealed! False hypes of contracts created by one shareholder who bought at over .02s when the pps is now sub pennies! Hehe not to be trusted!
RS any day now, the next decline back to sub pennies will be much quicker. Total loss for all longs is inevitable. Salvage what you can or last one out shut off the lights!
Excellent Renee, I said it many times, shareholders are toasted, will be a total loss as expected!
There will always be bumps on the road which flippers can make or lose money depends on timing but the end result for longs will be the same, total wipe and loss! CERP's chart reflects this down trend, lower low and lower high after each pump and dump!
OS has to be more than 1.5b now! Reverse split is on the horizon and don't expect an announcement of the split before it! Shareholders will likely wake up one day trading post RS and huge decline in PPS! The drop back to subpennied will be quicker the next time around!
Scheer has never held back news or material events! You said the same thing every quarter that Scheer held back millions in revenue news, but always wrong when the report card is released. Huge disappointments!
Absolutely right Renee! Past shareholders have been 99.9999% wiped and current shareholders will be wiped with RS on the horizon! The clock is ticking fast! Total loss is inevitable for past and current shareholders! It was Scheer intent all along, well and timely planned!
Scheer totally DESTROYED shareholders in 2013. Those who bought at .06s, .05s, .04s, .03s, .02s ,.01s, or even .00s, mega losses! These are 50%, 60%, 70%, 80% and 90%+ losses! And third and fourth quarter was supposedly the months for tsunami of orders and comparatively 800% revenue growth quarters just like the first half. 3rd Q turned out to be negative growth, even worse than last year 3rd Q and is Scheer on route to deliver a horrible 4th! Reverse split in 2-3 months is inevitable. Then rinse repeat. I expect a more rapid drop back to subpennies this time around! Shareholders will not just be at a 90% loss, it'll be 99.999999%! Scheer has done it before and history will repeat! Tick tock!
Oh by the way, 2013 was a great year for the overall market! Huge rebounds with DOW at record highs! Huge gains for all except CERP shareholders :)
Nice xmas gift from Scheer. Just another red day as expected! lol
Maybe they had ceased operations, hence no body in the office to answer the phones nor any production activity! lol, Indiana HQ is pretty much dead!