I found today document #332, an operating report for Evans Coal, filed by the trustee that covers to the end of August 31, 2012. It looks like there is now cash from things being sold off. The cash balance as of August 31, 2012 was $1.7 million.
The problem is that I think this is from selling off equipment and the main item, the coal leases, do not seem to have anything done with them yet.
As a note, there are two bankruptcy cases here, one for the parent Americas, that is the public trading stock, and another case for Evans Coal, its 100% owned subsidiary.
At least things look at little better since there is cash to pay expenses with but until the coal leases are sold off or being operating again, it is hard to tell if there is any value for the common stock.
It is also not clear if a new chapter 11 plan is going to be filed or when it will be filed.
Louis J. Desy Jr.
LouisDesyjr@gmail.com
Disclosure: I do not own shares in this company.
