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GMX Resources Inc. Message Board

  • lawrence.ducharme lawrence.ducharme Mar 18, 2013 4:12 PM Flag

    Shorts are screaming tonite.

    This is a great effort and a start to gain confidence. A lesson to all you nay sayers and short players its your turn in the fire.If you were to read the 4 pages as suggested you would have seen no BK. Just as I said when alot of folks were screaming sell and you know whom I speak of.

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    • Good call!

    • GMX Resources Inc. (“we, ” “our, ” “us” or the “Company”) and our advisors have been actively exploring alternatives to address the Company’s current liquidity needs, which may include a potential recapitalization of our balance sheet. We are currently engaged in discussions and negotiations with representatives of certain holders of our outstanding senior secured notes due 2017 regarding our current liquidity situation. If we are not able to implement a consensual alternative for restructuring our balance sheet, or in order for us to implement a financial alternative, we may voluntarily seek protection under the U.S. Bankruptcy Code. Because the efforts of management have been focused on the ongoing discussions with the holders of our outstanding senior secured notes and financing alternatives, we have not been able to complete our 2012 Form 10-K within the prescribed time period.

      • 1 Reply to highlyleveraged
      • I've never seen "we've been too busy in negotiations" to be a reason why a 10-K cannot be filed on time. It's usually something unforseen and out of the company's control. I don't think the SEC is going to like it one bit -- when you're a public company, mandatory disclosure deadlines are not to be missed because you've been "too busy."

        I hope Jefferies can help GMXR get some type of fair deal for it's various security holders, in spite of management's incompetence. GLTA.

    • i read both the 13d submitted to the SEC.
      Chatman looks the weakest they disclosed selling common consistantly.
      Gso on the other hand had no purchases nor sells of common yet they reported to be in disscussion directly with management & advisors.
      As Long as Gmxr is doing the Day to Day work that needs toget done the common will have sure footing.
      I think most investors do not know how big Gmxr really is. It takes people power & Leadership to drive
      a successfull E&P company, let alone complete a turnaround- then ramp production to alighn the company with the optimal drill operations & well pad installments. That in itself is gonna raise 2013 capex requirements.
      wonder how many meeting daily for gmxr. think about it.. a second

      6am - 7am operational/ maintenance daily priorities work load planning (Plan, execute )
      7am-8am - Division managers & managemnt meeting for ontrack & monitor of key indicator points. (measure)
      1pm-2pm operation/maintenance completion & setup for tommorrow piorities.
      3pm-4pm Division managers & management daily followup. (correct)

      That is what i envision happening everyday. good solid leadership from the employee up
      Plan,execute, measure & correct. builds strong results, empowers business, empowers people to focus.
      SO the question to ask perhaps would be
      Is Gmxr at work today doing business or have they just rolled over?
      I would think they are really busy day to day.
      enjoy your Investments-

      Sentiment: Strong Buy


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