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I'd like to buy an Escalera Certificate - does anyone on here have an actual cert they'd like to sell?
ESCRQ registration revoked:
https://www.sec.gov/litigation/admin/2019/34-85548.pdf
Pacer doesn't have Doc #668 Bankruptcy Case Closed.(lab) yet. Maybe tomorrow.
Do you have a link to where the bankruptcy documents are available for download?
The way I'm used to seeing it go is, someone from the court or a lawyer for the estate contacts FINRA, telling them that the commons are cancelled, then FINRA puts a notice on the daily list, and then the commons stop trading at the time of the notice, and everybody loses their money. That is assuming that the commons are getting cancelled by the court. But with reading the docs, it's just my guess.
Bankruptcy Case Closed. What is the next now? Chapter 7?
Looks like FINRA jumped the gun, ESCRQ was suspended today, not revoked.
http://otce.finra.org/DLDeletions
ESCRQ SEC Suspension for delinquent Financials/Filings:
https://www.sec.gov/litigation/suspensions/2018/34-83471.pdf
Order:
https://www.sec.gov/litigation/suspensions/2018/34-83471-o.pdf
Admin. Proceeding:
https://www.sec.gov/litigation/admin/2018/34-83470.pdf
Update from last night: Report of Operations From 02/01/2018 To 02/28/2018 Filed by Alice A. White on behalf of Escalera Resources Co.. (White, Alice)
https://www.pacermonitor.com/public/case/9876316/Escalera_Resources_Co
Escalera Resources Co.
Colorado Bankruptcy Court
Chapter 11
Judge: Thomas B Mcnamara
Case #: 1:15-bk-22395
Case Filed: Nov 05, 2015
Claims Deadline: Jan 20, 2016
Docket
Parties (5)
BK Info
Debtor
Related Cases (5)
Docket last updated: 10 minutes ago
Wednesday, May 23, 2018
634 misc Monthly Report of Operations Wed 12:19 PM
Report of Operations From 02/01/2018 To 02/28/2018 Filed by Alice A. White on behalf of Escalera Resources Co.. (White, Alice)
Yes, the Q's can definitely have some huge swings on them! Plus, no dilution is possible so that helps things out.
Wait and see how she pans out. They drop the Q people will be chasing after it gaps .
Motion to dismiss BK ? I don’t have full access to the article
Not many shares here either.
$ESCRQ $44,000 market cap, former @nasdaq oil stock with easy 10 bagger potential http://bit.ly/2F0ZvlI
Great news in the courtroom! see this: https://www.pacermonitor.com/public/case/9876316/Escalera_Resources_Co
Thursday, February 22, 2018
572
order Continue/Reschedule Hearing Thu 9:56 AM
Order Granting Unopposed Motion To Continue Hearing on United States Trustee's Motion to Dismiss or Convert Chapter 11 Case Pursuant to 11 USC 1112(b) Related [+]. Hearing to be held on 3/9/2018 at 09:00 AM Courtroom E for531 and for532 , . (lab)
Couple days of some buying this past week.
It's still trading and allows orders to be placed.
Not sure. Typically on discharge either shares stay intact or they get wiped out and if that happens it usually ceases to trade and also no quote will even pull up anymore. On Etrade it still comes up and shows the last trade was on 6/23 of 2100 shares. I'm gonna(you can also try) in the AM to put in a order to sell shares and put a limit price of say #1.00 and submit it just to see if it will take the order. If it does then it is still actively trading. I suspect it is being a quote still shows up BUT at this point being no activity after the discharge, I'd say we should sell our shares as I don't see it going anywhere at this point and may get cancelled at some point in the near term.
The court case is closed, now what?
Escalera Resources Co.
Colorado Bankruptcy Court
Chapter 11
Judge: Thomas B Mcnamara
Case #: 1:15-bk-22395
Case Filed: Nov 05, 2015
Claims Deadline: Jan 20, 2016
Docket
Parties (5)
BK Info
Debtor
Related Cases (1)
Docket last updated: 11 minutes ago
Friday, June 23, 2017
court Appeal Closed Fri 3:55 PM
Close Appeal In 17-cv-00666-WYD. Related [+]. (mjp)
https://www.pacermonitor.com/public/case/9876316/Escalera_Resources_Co
3/4 million bid showed up mid afternoon today. That is a good chunk of money someone is putting in here.
Tell ya what..... 3 market makers bidding today over 1/2 million shares @ 032 all day and is a decent amount of money someone is throwing into this. One of the highest volume days in a long time and a 258% rise. Interesting.
ESCRQ weekly pincher chart:
50 M AS 14 M OS
http://schrts.co/ftl48p
Got it, thanks, Renee.
FINRA only posted ESCR to ESCRQ. If there is an ESCRP to connote preferred shares your Broker should know the new ticker.
Renee, the symbol: ESCRP, has been changed ? It was traded 2 days ago but now no trading.
Thanks.
How can that seriously be legal?
saw this coming in September
I don't understand why so many buyers put the real cash down to buy a soon-worthless stock (ESCRQ will be canceled very soon per the company's bankruptcy plan according to the bankruptcy court news released yesterday) at the ridiculous high MV ($286K ~ $544K) yesterday? Which means once the company cancels all the ESCRQ shares all those invested money ($286K ~ $544K) will immediately become zero value ($0.0)! If ESCRQ drops to 0.0005 like its similar-SS CH11 peer did then I might consider to buy some shares to flip before the ESCRQ shares cancellation... It is extremely stupid to own a soon-worthless stock at such ridiculous high MV now! Anyway the Q peer is trading at only $15K MV now v.s. ESCRQ at $286K ~ $544K MV (which is 19.1 ~ 36.3 Times higher MV) yesterday!
ESCRQ has Huge Negative Equity Value and Huge Negative Book Value based on the latest financial report (see the link below)!
http://www.otcmarkets.com/stock/ESCRQ/filings
Hey apophis... Sorrybfkrngiving you a hardbtime you called it aboutnthis BK. ANYHOW - I have a question for you: Why would anyone sell it down to that .10 level? Seems like a pretty stupid thing to do, so why do u expect that??
GLTY but i'm done with this POS scam and Fraud Fenster
Be ready to buy preferred at .10
this is a 10x bagger
Yeah. Pretty much all ESCR common shareholders are super screwed now. Especially since most brokers wont let them trade until monday. Wish I had an account to short this POS right now but none of mine let me short anything under $1
Over the next few weeks this will fall below a penny/share
Common stockholders are last inline that's if they are not cancelled out? There are 1,500,000 shares of preferred that get paid first plus missed dividend payments
My mistake, i see it now. Thanks!
I feel bad for whoever just gobbled up my shares. I had to call in my order to ETRADE to have them execute it. FML, I can't believe that jerk Fenster can get away with that.
Granted the Judge still has to approve it, but we'll see. Not good and a giant slap in the face by mgmt to shareholders.
https://www.etrade.wallst.com/v1/news/marketnews/marketnews.asp?freeText=ESCR&newsType=all
POPPED ON MY ETRADE NEWS, JUST AN FYI!
November 06, 2015 14:45 ET (19:45 GMT) Copyright (c) 2015 Dow Jones & Company, Inc. 110615 19:45 -- GMT Story ID: NOV062015_DJQ_02qS Keywords: BANKRUPTCY-RELATED FILINGS, CORPORATE ACTIONS, ALL COMPANY NEWS, ENERGY
ATTN: SELL ASAP IMO: 14:45 ET - Oil-and-gas driller Escalera (ESCR) filed for bankruptcy in Colorado yesterday after striking a deal with its bank lender which will take the company private.
Lenders led by Societe Generale will fund the bankruptcy for $15M in new debt secured by the Denver-based company's oil-and-gas reserves, plus a portion of a new $21.9M second-lien note.
Common stock will be canceled and 51% of post-bankruptcy equity will go to executives under a management-incentive plan. Unsecured creditors have the option to invest in the new second-lien debt, share in the remaining 49% equity stake or take a cash distribution. ESCR was above $3 when oil prices started to slide in mid-2014 and have been below 50c the past 8 months. It's down a penny at 2c today. (patrick.fitzgerald@wsj.com; @patfitzgerald23) (END) Dow Jones Newswires November 06, 2015 14:45 ET (19:45 GMT) Copyright (c) 2015 Dow Jones & Company, Inc. 110615 19:45 -- GMT Story ID: NOV062015_DJQ_02qS Keywords: BANKRUPTCY-RELATED FILINGS, CORPORATE ACTIONS, ALL COMPANY NEWS, ENERGY Symbols: ESCR
You are incredibly incorrect, you are simply basing this off a post on yahoo finance. http://finance.yahoo.com/mbview/threadview/?&bn=7d80adbc-240f-471d-87e3-f9ff1bc6f040&tid=1446823529838-879e23dd-a8c6-4b33-8090-0034af7a63ba&tls=la%2Cd%2C0%2C3
Based off their most recent 10-Q, net Assets are 30MM more then net liabs.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10863878
90% of the time, yes
Warning to all: All the common shares will be canceled very soon based on today's bankruptcy news:
ESCR: effective Nov. 9,2015 ESCR will change to ESCRQ, bankruptcy:
http://otce.finra.org/DLSymbolNameChanges
*** the I-Hub change occurs at the end of today at market close.
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Institutional Ownership- 12% Full Time Employees: 27 www.escaleraresources.com 1675 Broadway, Suite 2200 Denver, CO 80202 United States of America 1-303-794-8445 |
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