It is my practice as a board monitor to make public my positions and management practices.
Last night I placed orders to sell all but 500 units of NTI. My selling price was $26.10, identical to the order to sell 500u earlier in the day. That price is just 11 cents shy of the approximate value attached to the WNR offer. I like to pick my battles. Litigation stemming from class actions centering about WNR and NTI are not of interest to me. I've participated in such business before and came out ahead a few times. The money awarded feels like found money and there's never a lot of it. I'm not interested, got better fish to fry.
So now I'm holding 500 units of NTI. I'm not certain as to what I want so I may hold these indefinitely. However, I'm increasingly thinking the debt load facing WNR is not a good thing and I may jump ship altogether.
Earlier NTI sales money has gone into NGL and MDR. Interesting individuals may wish to check out their respective boards here at IHUB.
I've been in NTI since a week or two of its having IPO'd. The ride has been a great one. As others here have stated, nothing lasts forever---not us and certainly not a stock. Still, it is sad to witness WNR doing what it does best which is to conduct business. Obviously that sounds ridiculous and it is. So I must admit I understand and respect what WNR has done. It just doesn't work well for me.
There's some confusion regarding class action suits---someone stated that in order to register, the unit holder must hold his units. I've not seen this to be the case. I've participated in more than a few such actions and never held the shares when entering the registration. All that needs be done is to p0ull up buys and sells from a brokerage account and list dates of such transactions. Very simple.
I'll continue to be here, monitoring things.
Let me wish you all a happy, healthy holiday! And many thanks for having contributed to making this a fine board proven to have been of service to many of our visitors as well as active members.
