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Liabilities multiple times assets, there is simply no way creditors will let current shareholders live on in a chap 11 bk. current shareholders will be toasted. Total loss is inevitable. Say thanks to Scheer!
2 options left here:
1. Chapter 7 and immediate wipe of shareholders and company liquidated.
2. Chapter 11 and total wipe of current shareholders when CERP emerges from bk.
Both are loss loss situation for current shareholders. Unfortunately, Scheer and CERP failed and lost all equity value already!
10 CERP shareholder amendments:
#1 Buy shares and immediately hope pps will dive so I can buy more at lower price.
#2 Keep averaging down.
#3 Stay happy after losing 50%,60%,70%,80%,90%,99% in value.
#4 It is never the CEO nor the company. Scheer doesn't need an excuse. We'll make it up for him.
#5 Spin any negatives into positives.
#6 Lets make up contract and revenue numbers on zero basis and spread rumours.
#7 I lost too much already, not worth to sell, might as well lose it all!
#8 Avoid facts, avoid reading filings, just whatever forward looking statement the CEO says.
#9 Group bash whoever states/reveals the CERP negatives.
#10 Dilution is amazing, reverse split and more dilution is even better, BK to restructure and reorg is the BEST!
The board of directors own less than .1% of shares! That should raise concerns!! Why are those ppl even on the board! Lol, any of you peeps on this board own more shares than them!
Time to face reality and consider lesson learned! Become smarter next time and don't believe peeps on a msg board! Anyone who read their filings throughout the year should have easily figured the outcome! Writing was on the wall long ago!
I find it hilarious that folks happily contributed their money to the Scheer family the last 14 months!! Lol
Bk is about creditors, not shareholders :) shareholders will lose it all!
So Scheer's son is pretty much chip off the old block! lol the Scheer family!
How about all my posts throughout the last 14 months? I called out Scheer, predicted sub pennies and the RS while others said impossible and group bashed me!
Omg Scheer! Lol he really think horizon is stupid or what?? Nice try Scheer! The most blatant and incompetent penny stock CEO in a while! Current shareholders will be totaled!
Are the lawyers getting paid? They are pretty expensive!
Maybe RS is to trap shareholders so pre-RS shareholders cannot sell in the days/weeks until new shares are settled in your account. Meanwhile, bad news take over and you are left holding the entire bag! Scheer wants to milk every penny!
Reverse split happened and happened at low pps as expected! The purpose is to clean out current shareholders, reset OS to dilute more! Let's hope Horizon shutdown Scheer ASAP :)
I agree, good for the company but the process wipes out current shareholders for insolvent companies like CERP with liabilities multiple times assets! Clean up debt by making creditors new shareholders of the reorganized company.
Thanks berg203 for giving me credit. Yes, I called this out every other day for the last 12 months when pps were multiple pennies! CERP was a classic case, so easy I'm not even proud! Writing was on the wall long ago. Scheer did almost everything, pump and dumps before 10q releases, paid penny stock promoters, paid moneytv, increased AS, diluted over 1.5b shares in a year, reverse split, big promises on revenues and contracts, tsunami of orders that never happen aand bankruptcy! You name it, he did it!
Why don't Scheer convert his $720k into shares if he believe in the company? lol, instead he wanted to be a creditor to be ahead of shareholders!
Why didn't Scheer exchanged shares for the $720k? Lol because he knew all along shares will be worthless!
Another question is what happened to all the money from shares sold in the last 14 months? Around 1.5b+ and let's just say at avg of .01! That is $15m!!
And the question is why didn't Scheer accept common shares for the $720k lol? Because he knew all along that equity will be wiped! So sly! Same for directors owning less than 1% of shares! They knew the end results all along but yet fooled unwary shareholders with great forward looking statements like best time to buy, tsunami if orders coming!
If you believe sky found the current OS by the market cap! Then I really suggest you shouldn't ever touch penny stocks until you learn these basics! Otherwise, it'll be a total loss again and again!
Scheer nor anyone will pickup the phone! Scheer will disappear soon! He'll plan his next scheme with Libra6 Management after his vacation!
Btw I was warning peeps when pps was multiple pennies! I called out the total loss, shareholders wiped scenario! Classic case!
This is normal trading behavior for a to be cancelled bk stock! I saw it over and over throughout the years! Shareholders will be totaled without a doubt!
I called out the so-claimed insider info deal last week and someone was not happy, very suspicious! Horizon probably also heard that rumor and immediately clarified in their motion on Friday that they are not and no intend to deal with Scheer!
It updated because pps changed!! Remember, last reported OS times pps! Lol otherwise we would be able to get updated OS on every penny stock daily, then no point for companies to gag TA anymore! Common concept!
The market cap is based on the last reported OS from the last quarterly. Lmao nice try from the bag of tricks! Any idea where is that $10m contract Scheer has been holding back? Lol
Why did you believe Scheer when the stock gradually declined the last twelve months meanwhile Scheer failed every report card day? Need to set a stop loss at 10-15% bro! And don't believe in hypes, touts and imaginary $10m contract and revenue lies. Only believe what is in their filings, such as 10k/10q/8k.
CERP is another classic example of a total loss, 100% loss!
Very lowly deed;; the same goes for the so claimed insider information last week that a deal was done with Horizon to be announced in a day or two and that BK will be withdrawn!
You are absolutely correct. Current shareholders are toast, chapter 11 or chapter 7. FACT! Time has told! Reality check for Scheer believers ;) Scheer pump and dumped the stock the entire 2013 and touted many ppl to lose their entire investment. Those who assisted Scheer in hyping the stock and pump and dumped along are no better than Scheer! The public should be glad Horizon is shutting CERP down, prevents more peeps from being sucked in.
Luck is not a factor here! Everything was planned in advance by Scheer and co! The writing was on the wall long ago! Total loss for shareholders! Scheer was not shy of wiping shareholders before and oops he did it again!!
Only a few peeps who tried to spin positive out of every negative!! lol shareholders are toast, salvage something now while you can or lose everything! I still remember the hype over bk as tactic to negotiate deal with horizon to be announced and that bk will be withdrawn! And then false speculations on incomplete bk application! Lmao
I have been right on the pps all along and will be right again! Shareholders will be wiped! Total loss!
Btw what happened to bk as tactic for negotiation with horizon and that deal will be announced and bk withdrawn? Lol, no more discussions on that this week?
Lol, you really think it is up to Scheer to decide who will own the company in reorg plan? The creditors vote on any plan and there is no argument that current equity should keep anything because company is insolvent with liabilities multiple times assets! In fact, current equity has no say in the reorg plan! Creditors will take the whole pie!
I suggest you read their latest 10q, $36.7m in liabilities and $14.3m assets! How you think there will be any money left for shareholders? It is certain that shareholders will be wiped in any reorg plan! Creditors will take the whole company!
It is pretty certain that shareholders will be wiped in any plan because CERP is insolvent with liabilities multiple times assets. Creditors will take the entire pie! There is simply no reason to justify anything for equity!
Let's analyze the two scenarios for CERP and results of each:
(1) Judge grants Horizon's request to convert to chapter 7. CERP is liquidated. Shareholders total loss!
(2) Judge stays chapter 11 reorg. Shareholders cancelled in reorg plan because CERP is insolvent with liabilities multiple times assets. Creditors become shareholders of new company. Current shareholders total loss!
Pick your poison :)
Scheer quietly dismantled the company in the last few months knowing the default/seize auction/bk was coming. He even prepared his own lifeboat. He formed new company Libra6 Management!
What happened to the deal between CERP and Horizon that was supposed to be announced last week?
I called this for over a year. CERP shareholders will be wiped. Total Loss! Scheer got ya all!
Excellent work! You are shedding light to shareholders who only see one side of the story!!! But as usual, reality is always different and harsh!