InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,433.74
(
0.23%
)
US TECH 100
19,030.40
(
-0.20%
)
Dow Jones
38,647.10
(
-0.17%
)
Brent Oil
82.49
(
0.63%
)
Bitcoin
66,864.76
(
0.16%
)
Post# of 1755
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

LouisDesyjr

Send PM Follow Ignore
Followers 48
Posts 2095
Boards Moderated 0
Alias Born 02/08/2011

LouisDesyjr

Re: iffi post# 1604

Monday, 07/13/2015 3:38:35 PM

Monday, July 13, 2015 3:38:35 PM

Post# of 1755
Lights out

There was not enough from the sale to pay off the other liabilities. The common shares will be canceled and are worth zero.

https://cases.primeclerk.com/duneenergy/Home-DownloadPDF?id1=MTU2NzAw&id2=0

If you read document #379m, you will see that one property sold for $1 and the assumption of liabilities; the other sold for $19 million.

It is not clear what the entry was on the balance sheet for the land sold off, but the fact that the company issued the July 8, 8K report stating the common will be wiped out, means that the company is losing money on the sales.

Louis J. Desy Jr.
Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

Join the InvestorsHub Community

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.

Sign Up