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GMX Resources Inc. Message Board

  • hamradio73s hamradio73s Apr 16, 2013 7:44 PM Flag

    Descrepancy on Common Shares outstanding ???

    GSO's 13d Filed Mar 11, 2013, Item 5 7,405,783 Common outstanding
    Chatham's 13d Filed Mar 11, 2013, Item 5 7,405,783 Common outstanding
    GMXR's Ch11 Petition Filed April 1, 2013, Item 2(e) 31,283,353 Common outstanding

    In GMXR's Ch11 Petition, the 31,283,353 Common outstanding does not reconcile with Item 4, the list of owners of 5% or more, but does agree with both 13Ds.

    If the 31,283,353 number is correct, the senior note holders would not have controlling vote.
    Any ideas ?????

    Sentiment: Hold

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Hi hamr-
      factual information provided on Mar11,2013 is consrtained to that date & point in time.
      April 1 would be the deadline for the pre-pkg bk development.

      shares could be issued for consent of all to agree no contest to pre-pk.
      gso / blackstone /chatham ......

      could be a pre arrange share amount for prepk reduction of debt & payment.
      to be concreted in place with the ch11.

      the fact that 24million shares are unaccounted for by a specfified holder in any
      ch11 documentation should reflect that all that filed the 13d have met the sec obligation
      as for disclousure.( of ownership).

      any other common holder would have to file the 13d. no one else has.
      so i can only say that the 24million shares will be disclosed in ch11.
      enjoy your investments-

      Sentiment: Hold

 

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