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Well its pretty easy they are in

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catdaddyrt Member Level  Monday, 04/11/16 03:42:31 PM
Re: old Mt post# 84
Post # of 97 
Well its pretty easy they are in serious debt, over leveraged and trading at .05 Go back and read my posts on SD board for the last 4 years and you will see the step by step mistakes that have led to their demise - I made money on SD from 6 to 11 bucks but those days are long gone- with 40 dollar oil they are sunk and oil is not coming back this year imo so when you are hanging on by a thread and burning the rope at both ends the result is obvious. Just a matter of time and they will file- they owe a hell of a lot more the 500mm -
they have been paying their preferred share holders with common stock as they do not have the money & after millions of shares of dilution they suspended the dividends completely - a lot of peeps lost big and you can bet the common's will be cancelled in the reorg. I used to like SD but I have always called it like I see it whether it's good or bad or whether anyone agrees with me. I know SD better than most around here and it's bad times for Sandridge and the flunky hedge fund clowns that took over the company a couple of years ago.

This trust is safe - thats the only good news I have for you.


THIS IS CLASSIC ROCK !!!!
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