SandRidge Energy, Inc. (fka SDOCQ)

[LouisDesyjr]

Too far in the red

10Q for 09/30/2015

http://ih.advfn.com/p.php?pid=nmona&article=69189333

The problem is that as of 09/30/2015, stockholders equity was negative $403 million, plus they are losing money every quarter.

While they do have a 'pile of cash', they borrowed to get that and are just burning through it over the months.

Even if oil prices went back up today, they would need to make at least half a billion to get stockholders equity to zero.

The common shares and preferred shares are dead. At some point they are going to need to file Chapter 11, either voluntary or involuntary when their debt holders force it on them.

I find it amazing that anyone would have loaned them more money with these financials.

Louis J. Desy Jr.