My error. News did come out but I don't know when. If it came out Friday then I am not sure what is going on as the stock was up in the after hours. There may be details about this proceeding I am unaware of.
My error. UPL did declare but the stock went up in after hours. There may be details about this proceeding I am unaware of.
apparently we are at the end game already but I don't know the details surrounding this proceeding. The stock was up in after hours trading.
In the body of the chapter 11 documentation on the company web cite is an interesting statement. The company plans on retaining a 50% continuity of its shares in order to retain the operating loss carry-forward.
The carry-forward is over 3 billion dollars and worth several dollars per share. The details of this chapter 11 filing will be most interesting as this company's shares are worth more with the company dead than alive if the chapter 11 retains 50% of the company stock. If there is a sell-off in the morning I may be buying but definitely not selling.
I am an expert in NOL carryforward attributes. Under IRC section 381 the IRS does care about who owns the company. If there is an ownership change greater than 50% the carryforward attribute disappears.
In theory no. In fact no. Chapter 7 would result in an immediate worthlessness but Chapter 11 is much more complex. There may or may not be a sell-off in the morning but based on the language used by the company regarding this Chapter 11 declaration I don't know what will happen. The company may ask for a stay of action. Either way this stock will not be worthless on Monday.
A possible resolution will be that the debt holders get a 50% interest in the company and the debt becomes secured by the property along with a due date pushed back a few years and a reduction in the principal amount due.
Under the restructure tab then go to Investors then FAQ . Now don't get me wrong, I would rather they settled before this, all I am saying is that it is not necessarily over. If the morning sell-off is extreme, I would not sell. It is possible that with patience this stock may be worth a few bucks or more. But I can't really know what will happen as I don't know what will transpire during the Chapter 11 proceedings. I would say that the worst time to sell would probably be in the morning if there is a panic sell-off.
The 381 limitation is on the full use of the NOL carryforward. The loss does not disappear but becomes worth very little if there is an ownership change as its use would be limited to a low interest factor times the fair market value of the company. You can't skim this code section and fully understand it.
Your posting history reveals that you are a shill with only one purpose. To harass me. I may, or may not, have gambled and lost on Friday. So what? I add to this or any board by using facts about the company, industry or market. What do you do? Harass me? That's it? Doesn't say much for you.
I had an average cost for EPE in the $4 range and sold at an average price of $6.80. I made a small fortune. If anyone really wanted to they could follow my posts and see for themselves what I was doing.
In addition, I am up more than 50% since selling EPE. This has been the greatest year I have ever had in the market..so far. The few bucks I may now lose on UPL, and may not, are insignificant relative to my portfolio.
Trust no one. Read the web cite. I don't have the answer, just pointing out facts. What is posted is UPL's management's plan. It may or may not happen.
This poster has no facts. He is a schill. Read his prior posts. Nothing but insults. I can't say what to do here as I am not sure myself. But it appears that you put too much money into a super speculative stock. I suggest you don't do that again.
I am having my best year ever. Nothing you can post will change that. UPL represents .5% of my portfolio and if I lost it all it won't dent the kind of year I am having. The fact is I won't lose it all and it is possible I won't lose period. We will see.
Your first factual post ever. A bit late to advise anyone. This stock was and is a gamble which is why I advised only a very small investment if any. Where was your advice then? Don't try to advise after the fact. It isn't worth much.
What a shame low lives like you muck up the message boards.
Investing in speculative stocks is the fault of the investor. We all had plenty of warning of what may happen. It still surprised me as I felt that management had a softball to hit in making a deal, but my concern about management taking care of their jobs as a number one priority apparently turned out to be what has happened. Though the Chapter 11 proceeding is not over yet. Our odds are poor, but not zero, about recouping our monies.