It appears a favored status now only exists for the super-priority DIP financiers. It also appears a "deal" is offered up to unsecured creditors with a trust to disburse any settlement from the lead price fixing investigation with a 5 year window and possible 3 year extension.
That stacks the deck for a consensual settlement on March 27th. The tortholders get a small deal and common shareholders get cancelled.
Yes, inherent in the settlement with Ironridge is proof positive that the earlier Newlead PR citing a suit to resolve and sedeking the end of the mass dilution of shares was both truthful and on the mark. The TransAsia claims serve to validate Newlead's PR claims regarding coal contracts of substance, also.
One by one, Newlead is dispelling the rationale used by NASDAQ that was claimed to justify a de-listing without even a day in court. NASDAQ simply stone-walled their own process by claiming a fait accompli prior to the scheduled meeting to contest NASDAQ's RUINOUS decision.
I believe Zolotas is delaying the OTCQB uplist because he seeks a full restoration to the NASDAQ exchange, which if announced, would easily regain the $1 listing minimum. And guess what, guys, the basher laments about shares issued makes a new $1 S/P roughly satisficing to meet the $500M market cap goal, as well.
See, guys, there is a work in progress here, not the cesspool the basher brigade is spewing out of hate, ignorance and a hidden agenda.
JMHO. I remain extremely long here, and looking to buy more if it dips further.
You cannot have a stay on a transaction that was already completed on February 23rd per the 8-K filed by Dendreon. It's over. All that remains is the wind down and final claims dismissal by the court before eventual exit in June or thereabouts.
Precisely the same kind of rude, dismissive, juvenile post that came from the arbitrageurs trying to scavenge the carcasses of GM and Kodak before their shares were cancelled. There were huge rallies of support proclaiming huge riches for the patient and excoriating rhetoric for the bashers and "why are you here" claptrap. Why don't you hedge guys get a new schtick because this scam doesn't hold water any longer.
In the end, the arbitrage vultures pocket a few pennies on gazillions of last minute share trades by enticing retail newbies with claims of immediate huge wealth while they dump their cheap shares on the poor dupes and run off for their next group of victims.
Sucks to be you.
Horsepoopie. Why are you posting content here on Provenge that is owned by VRX. Take your commentary over to the VRX board and maybe I'll leave here.
How about them apples, there, horsy?
That's very good news for Valeant share holders that now own Provenge.
The 8-K was dated 2/23/15, not 2/27.
An indetrerminate contract violation does not void the deal, nor has it been suggested, and I doubt it is even true. The directors that left resigned according to the 8-K covering their departure.
Why is it disinformation. What I stated is a fact, easily verified by the SEC filing posted by Dendreon confirming the closing of the deal on 2/27/15. I am here because I have an interest in Valeant. Why do you care, because you think only pumpers of some DNDNQ windfall belong here?
Smart move? It's an absurd suggestion. Valeant's part of the deal was concluded on 2/27 and was signed off on by a Federal judge. Civil lawsuits over the transaction are no longer possible. If you are looking for a gift, keep your eyes open and watch for The Easter Bunny.
No, sorry to point out that Newlead settled for $2.5M. The $22.5M promissory note was cancelled as part of the settlement. Just goes to show how difficult it is to unravel a death spiral financing deal and the piling on of one of the world's largest law firms to squash a little company like NEWL. $32M return to IR for a $2.5M loan that lasted less than a year. In law, this is usually called USURY, but gets legitimized via legal "articulation" married to chicanery and deceit.
What are you morons going to do if this gets settled out of court with a revised coal supply agreement and TransAsia and Newlead re-partner under different/improved terms that allow the basis for the contested contract to go forward in a consensual way?
The inescapable but never commented on aspect to this trial, except by me, is that the dispute is over an impasse that prevented TransAsia from accessing coal that was needed for an overseas client. A client that needed coal. The haters keep offering up the same garbage presumptions... NEWL has no coal... NEWL has no permit... NEWL has no market because coal is dead... blah, blah, blah, ad nauseum. But the pith of the TransAsia suit dispels a lot of this rubbish. IMHO, if TransAsia is legit, this will get settled out of court with another coal contract and that contract will get pulled off without a hitch.
Illiquid? That's absurd. Newlead has NEVER had better cash flow as its fleet utilization SOARS. Ships only make money if they carry loads. Think the deals are bad? Guess, again, d-baggie, because an empty ship sits in demurrage and makes NOTHING except eating up huge overhead. A utilized ship generates revenue.
As the Baltic Dryship Index teeters, Newlead rises to the apex of the market with secure deals that cover interest and operating expenses while competitors pound their puds in jealousy.
Face facts, Newlead has turned the corner, there is yet-again more good news, and the uplist is just around the corner.
Wrong. All the contracts announced have a variable element clearly stated, either for months of duration or number of loads. Huge variables affect metrics, months out, such as the cost of fuel and the details of whether a contract does or does not have a fuel escalation/de-escalation clause. Zolotas is being squeaky clean on issuing 100% factual PR's because this is part of the strategy to get NASDAQ's delisting faux pas corrected by showcasing Newlead's PR is above board.
Feasting on the donor host of failing pharma has been a parasitic objective of shorts for ages. It's all just part of the Wall Street landscape, guys. Nothing wrong with it. Get over it!
Incredibly stupid claim. Shipping is a hotly competitive business. Nobody would publish the intimate details of contracts that would aid competition in taking the contracts back from them.
That's just plain crazy talk. Before the PR began this had gone sub-penny, bottomed at 6.5 cents, and all you bashers were gloating that sub-penny would kill the upgrade to OTCQB because of its new one cent listing minimum. Now it's consistently 3-400% higher than its low and is holding solid... much to my discontent since I'd like some more shares, like a million or more, if the price tracks back down to anywhere near a penny.
You guys in the boiler room really suck!
This is key to financial restructuring and providing sources of capital for expansion.
Uplist soon, guys... I can just sensing it coming any day now...
Poster newlisapos writes; "Bag Boy yanking Zolotas, its to obvious"
Hey, Einstein, what does "its" mean? Is it the contraction "it's" for "it is"? Is it an acronym for some secret society you belong to like International Trolls Suck? Or maybe its whats left after a partial mastectomy?
Please clarify. I'm sure most board readers linger on your every word with high regard for your erudite and incisive intellectual observations.