Replies to post #325 on GMX Resources Inc (fka GMXRQ)

[Peeteman]

The three entities already own 80% of the first lien secured debt of GMXR. They can sell assets to recoup full repayment of their debt plus interest. They don't need to own common shares to do this. They are after bigger gains as the company turns around during the bankruptcy process. We sahll see - Full statement of assets and liabilities due May 3rd. Bankruptcy plan due 120 days after filing of bankruptcy. I don't know if they still need to file 10k by April 15th? This will be interesting IMO