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jaxstraw

04/13/10 6:36 PM

#55 RE: Iggles2009 #54

Nice work. That's going to be interesting to see what happens. It's a court transcript I'd love to see just for the informational aspect of a creditor filing such a motion.
The arguments presented by both sides and the decision by the Judge would be well worth the read for future investments.

Madclown

04/14/10 12:38 AM

#66 RE: Iggles2009 #54

Iggles, This isn't directed at you, I am just piggybacking off your post because yours is the type of post I am trying to draw out and encourage.

My hope is that we can get some alternative ideas in here and maybe some new names. The "golden age" of distressed equity will not last forever. We will one day have to adapt to a changing economic and market climate. If we can build a board that is primarily composed of good ideas and research as opposed to pumping then this little corner of IHUB will offer something value added. If not then it will devolve and become, at best, a collection of posts consisting of stock symbols and "to da moon" references devoid of any substance.

Since there is plenty of that out there already, I thought we could try something different and that might involve entertaining questions and responding to posts that would get lambasted on other boards.

All I ask of everyone is patience. I hold down a full-time job in addition to my distressed research. I also have a wife and 3 kids. If I don't respond quickly to someone's question directed at me then you will all know why. Also, if I haven't heard of a stock or haven't done any research on it then it will take me a while to get up to speed. If I am going to research something, I will spend hours or days on it, not just a few minutes glancing at the chart. Burning it at both ends of the candle wears me down at times so if I disappear for a few days, you will all know why.

My hope is that we can all learn from each other by sharing ideas but I am not a philanthropist. If it gets too one sided where it is me talking to myself with no valuable feedback then I probably disappear. I don't expect that to be the case because I have shared phone calls or emails or PM's with a ton of really smart people who I hope will participate more actively in an environment where they are free to speak their minds and ask tough questions.

With all that said...


Best wishes

Iggles2009

05/17/10 2:17 PM

#289 RE: Iggles2009 #54

Appears the special purpose counsel, Duncan, (Roger)Linn, & Wade, was busy in April 2010 working on behalf of Firstgold. Any insight anyone has regarding "use of 1145 under the bankruptcy code" is appreciated.

Docket#140, Exhibit A outlines, among other entries, the following (note: Scott Dockter is CEO of Dura Rock):

4/15/2010 - Telecom with Terry lynch regarding possible reorganization partners

4/20/2010 (just after the hearing in transcript docket #125) - Telecom with Chris Nichols regarding results of BK hearing; telecom with Terry Lynch and Scott Dockter regarding remaining reorg plan for Firstgold; research use of 1145 under bankruptcy code to issue freely tradble Firstgold stock

4/29/2010- Telecom with Terry Lynch and Scott Dockter discussing possible exchange of stock transaction between DuraRock and Firstgold; telecom with Firstgold accountant Randy Renfro regarding possible use of carryforwards in Firstgold; research possible securities transactions between Firstgold and DuraRock