Well Dollar, welcome to CEDC where only the strong survive. Albeit a little less wealthy, but most live to trade again...Best of luck to you. (I realize you are probably in the green Pic if you read this. However you are the exception to the rule.)
Thanks for your comments. Why is CEDC going down so much on bond downgrade etc?
On December 10, 2012, CEDC engaged Alvarez & Marsal, the restructuring experts. They are the best and they always look out for the shareholders. They did it with so many companies like Healthsouth etc. which had very serious problems.
So, there is hope that CEDC will see 10+ in 2-3 quarters.
the problems CEDC outside stakeholders are currently facing. With the convertible bonds maturing in March to be "restructured" there might be huge dilution coming soon. When even bondholders have to swallow some kind of haircut what might happen to those standing last in line like the common shareholders?
regardless how this plays out the common shares will most likely be the class to suffer the most here - in case of bankruptcy the shares will be wiped out entirely but at this point I can't figure out any way which would benefit common shareholders.
So if you want to be a stakeholder in this game just switch to the senior secured notes as they will have plenty of value even in case of bankruptcy - and there's a good chance to get paid back in full here.
Yep, I just write off whatever happens here as my "cost of tuition" of trading. I've incurred a free pass with this, violated the 90 day rule for tax loss purposes but did O.K. swing trading CEDC for awhile back in the day. I'm down some but want to see what comes of all this. Avg. is 2.30