Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Waiting for Scheer to deliver the final blow :) I wonder if he'll apologize to shareholders for losing all their money or thanking them for their contributions over the years!! Folks, beware of Scheer and his new company, Libra Management? A business consulting company? Scheer can teach other wannabe penny stock CEOs :)
Buying penny stocks by hope almost always result in a total loss:) CERP will become a textbook case!
The writing was on the wall long ago! A few peeps on this board just refused to read it and led some more peeps into the slaughterhouse! Shareholders are done. Better sell as soon as you can if you want to salvage anything. $5 extra dollars to buy yourself lunch is always better than feeding Scheer! He won't even thank you!
You have an excuse for each and every one of Scheer's failures! Too bad reality is catching up fast! Ppl should panic after losing 90%+ of their money and is getting ready to lose it all! Sheeps got led into the slaughter house! I have seen this again and again in penny land! Cerp is a classic!
As expected, total loss for shareholders! Scheer took all your money until the last penny! The 'sky' will be dark tomorrow! Time always tell! I keep telling you peeps:)
Wow, so Scheer already planned his own life boat. Shareholders will sink with the titanic :)
Yes, he is a calculating fellow. He calculated every penny of unwary shareholders' money!
Why is Scheer spending time and money on lawsuits instead of going after sales and revenues? Very simple reason, to divert attention from his own failure and ability to sell products! That is what penny stock CEOs do. I have seen this over and over again in pennyland!
The biggest issue is sales and revenues! CERP has neither despite what sky have been saying that CERP had $10m contracts etc.. We know imaginary numbers like that is total BS!
And this is how losing 100% in penny stocks is possible, extreme dilution follow by RS and then more dilution! It is easier for these incompetent CEOs to print paper than sell products! Scheer is a textbook case!
You should salvage whatever you can, an extra $5 to buy yourself lunch is better than treating scheer! Putting life savings into scheer and hoping he'll do the right thing is unbelievable given his track record of incompetence and history of wiping shareholders! There are many better companies out there you could have invested without worrying about losing 99.99% or 100%!
Anyone not new to penny stocks know that RS is always the death reaper. Penny stock companies RS to wipe current shareholders and start again, that is how it is possible to lose 100% of your money in penny! More dilution will come after RS! Don't compare RS by big cap companies to RS from a penny stock company that have been diluting shareholders and the sole purpose of RS is to reset share structure to dilute more!
CERP is a textbook example! Pps driven to sub pennies from dilution and then company RS to rinse and repeat! The writing was on the wall when scheer proposed and approved RS a year ago! He knew AS increase and RS will be fully utilized! Those hostile takeover and uplist excuses were full of sh$t!
It took Scheer only around a year and four months to dilute from 20-30m share to over 1.6b shares (my guestimate but should be close and the actual numbers will come soon) the last time around. Dilution will be quicker this time, expect subpennies again in less than a year! And then the next RS if Scheer is still able to tout more unwary peeps to buy his stock!
I called the RS at these low subpenny prices a year ago while ppl said it is impossible and will never happen, etc.. Yes, penny stock companies RS to wipe out current shareholders to rinse and repeat! I suggest those who are not familiar to google "penny stock company reverse split". There should be plenty of references!
CERP is a classic case!
I was right on the doc's .179 target all along, yep, .179+ post RS :) I called it a year ago! tic toc, shareholders will be wiped, dilution, AS increase, RS and more dilution! Scheer wiped shareholders before and is not shy to do it again! All long term shareholders of CERP have lost 99.9999999% and zero hope of recovery!
3.78m market cap from 995m shares count is outdated info since last q! Nobody have updated share count other than scheer and co! 50-1 RS as expected, I was right all along! Scheer dilute, increased AS to dilute more and now RS to rinse and repeat! He is not shy to wipe shareholders!!
From .04 to .004, wow lol! I don't know what investment strategy leads to these results! Simply brutal! You are not alone though, plenty of ppl lost 99.99999% on CERP with no hopes of recovery!
Why did anyone hold a stock past 10-15% loss is the question :) Better learn to set stop losses and never fall in love with a penny stock which will often result in not 90% loss, but 99.9999% loss, especially the ones that dilute and reverse split! CERP is a textbook example of this type!
Yes, anyone who bought and held CERP long term last year got screwed. One could have easily picked a stock in the bigger index and had 30%+ gain :) 2013 was a great year for the market except CERP shareholders.
I don't see how RS can be 1.2 mil (second post you mentioned this #) no matter how it is spin. I do believe default can be cured though. It'll be another toxic financing deal that'll dilute shareholders to oblivions after the reverse split.
Default and auction = immediate 100% loss, while RS and dilution = slow death, 99.999999% loss. Pick your poison!
Will be the same old bitter ending, and then i'll be beating the dead horse while laughing and rolling on the floor :) CERP will become a classic textbook case! Pop corns ready, the final chapter of CERP will be coming to theatres near you!
Oh no, CERP didn't break .005 despite a 70% chance.
Read my post lol, I said OS is definitely more than the ~1.2b you stated. In my opinion, OS is ~1.6b+, not enough OS left for Scheer to raise $2.8m with it. Remember, CERP has to give at least a 25%+ discount on shares for another toxic financing agreement and they must have the share structure in place for the conversion. Given, OS continues to decrease, it'll take more and more shares for $2.8m.
Time is running out, tic tock! Time always tells and has told for those who bought last year or the years prior. 80%-99.999999% losses!
OS is definitely more than 1.2b given pps decreased 3x since the last quarter so they needed to give 3x more shares to fulfill the same amount of obligations. Anyway, spin it however you like, time will tell and days are numbered! I still remember those who said CERP will never go sub pennies and how it was impossible,etc.. :)
Right, Scheer does not need approval, all he needed was filing to with Nevada SOS to install the split! But he still wanted to explain to Shareholders why RS is absolutely needed because it is lesser of the two evils given how he said last year AS and RS increase was to uplist and prevent hostile takeover but instead he used AS to dilute and now RS to reset share structure to dilute more :) it is tougher for him to dilute more going forward without retaining peeps to continue to buy and avg down!
Lol!! The company incorporated in Nevada, therefore changes to share structure is filed with Nevada Secretary of State :) same when company increased AS to 2b last year! No news, just a Nevada SOS amendment filing!
This was Scheer's plan to justify the RS all along! He created the worst scenario (default and auction), diverted attention from the continuous lack of sales/underperformance! Then to force shareholders to happily accept the lesser of the two evils, between losing 100% now and 99.99999% later!
After the RS = rinse and repeat!!! I expect the drop back to subpennies much quicker this time around! Scheer does what he does best! Take money from unwary shareholders!
Option 3 is highly likely given CERP had already filed with Nevada SOS! RS was always Scheer's plan! He planned this default and auction drama to rightfully RS because that leaves shareholders no choice but to happily accept it:) good job Scheer! Maybe spend some time on sales and revenues instead if scheming on shareholders! Lol
Looks like RS filing has been done with Neveda SOS!! I think Scheer will keep the company afloat by sacrificing shareholders! This default and auction was likely smoke and mirror! Scheer needed an excuse for the RS...
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=vYE%252f9NeVQfp1V7eg2bvPfQ%253d%253d&CorpName=CEREPLAST%2c+INC.
Once assets auctioned. CERP will be an empty shell with $33m in liabilities :)
If all assets are sold at auction two weeks from today, then Scheerholders won't even receive a bio plastic bag as a token of appreciation for their contribution over the years!
Scheer has committed highway robbery from scheerholders for years! 99.99999% loss for so many! His motto is "baby do it again!"
I never see any official reference of a $10m contract on official prs, filings or conferences! Someone on this board made up the number to hype the stock but adverse effect once peeps realize it is fake!
Millions as on ask! Lol!! Scheer going for his severance money!
New ownership will not include current shareholders who are current owners of the company, common sense!!
Too bad the auction is all in one lot otherwise I would like Scheer's office computer/laptop!
This explains why the office has been closed for over a month. The auctioneer was probably packing all CERP's assets, including office equipments :)0
Indystar.com has the classified of the auction since 1/26 (Sunday), so the auction was probably posted on Pesco.com Friday or Saturday. Very interesting how Scheer kept his mouth shut:) He still wanted to sell some shares til the very end.
http://www2.indystar.com/webcat/classified/classlist?category=Public+Auctions
----------
AUCTIONEERS•APPRAISERS PAUL E
Public Auctions - 01/26/14
AUCTIONEERS•APPRAISERS PAUL E. SAPERSTEIN CO., INC. 144 Centre Street, Holbrook, MA 02343 Tel: 617-227-6553 • www.pesco.com • MA Lic 295 Secured Party Sale @ Public Auction Re: Cereplast, Inc., & Algaeplast, Inc. BIOPLASTICS COMPOSTABLES RESINS INVENTORY ??" EQUIPMENT FIXTURES ??" INTANGIBLES IP ??"CONTRACTS TO BE OFFERED IN ONE LOT ONLY FROM THE OFFICES OF ROPES & GRAY LLP, PRUDENTIAL TOWER 800 BOYLSTON ST., BOSTON, MA, TUESDAY, FEBRUARY 11, 2014 @ 11 AM The Secured Party, Horizon Technology Finance Corporation, will offer its right, title and interest in the debtor’s right, title and interest to but not limited to certain goods, hard assets, inventory, contracts, intangibles and IP. For a complete asset breakdown and further details go to www. pesco.com . Terms: A deposit of $25,000.00 in cash or certified funds at the time of bid. Any bids by phone will require said deposit to be made 24 hours prior to the auction. All other terms announced at sale. James Wilton, Ropes & Gray, Atty for the Secured Lender, (617) 951-70006126505|AUCTIONEERS•APPRAISERS PAUL E. SAPERSTEIN CO., INC. 144 Centre Street, Holbrook, MA 02343 Tel: 617-227-6553 • www.pesco.com • MA Lic 295 Secured Party Sale @ Public Auction Re: Cereplast, Inc., & Algaeplast, Inc. BIOPLASTICS COMPOSTABLES RESINS INVENTORY ??" EQUIPMENT FIXTURES ??" INTANGIBLES IP ??"CONTRACTS TO BE OFFERED IN ONE LOT ONLY FROM THE OFFICES OF ROPES & GRAY LLP, PRUDENTIAL TOWER 800 BOYLSTON ST., BOSTON, MA, TUESDAY, FEBRUARY 11, 2014 @ 11 AM The Secured Party, Horizon Technology Finance Corporation, will offer its right, title and interest in the debtor’s right, title and interest to but not limited to certain goods, hard assets, inventory, contracts, intangibles and IP. For a complete asset breakdown and further details go to www. pesco.com . Terms: A deposit of $25,000.00 in cash or certified funds at the time of bid. Any bids by phone will require said deposit to be made 24 hours prior to the auction. All other terms announced at sale. James Wilton, Ropes & Gray, Atty for the Secured Lender, (617) 951-7000| - 01/26
By the way Bull, you mentioned you talked to IR lately which were positive. Now would you mind sharing those conversations to your fellow Scheerholders?