Stagecoach was the Duke's first major role, but I thought Alex Cord did a better job in the remake in the late 1960s. John Ford, Wayne's director in the first movie, felt very hurt when the remake was announced and asked Martin Rackin why he was producing the newer version. Rackin's response was "If you had done it right the first time, we wouldn't have to do it now" or something like that. I've always liked Wayne's last movie, The Shootist, as one his best.
As I have seen in other instances, specifically the Trainwreck, somebody, no doubt stannguru, will pop up with some theory that trading on the pink sheets is a plus. I suppose it is if one compares it to not trading at all.
You made your point streetsweeper, so now go away and take your rag with you
J Noble works the other side -- he's the one that put the railroad into receivership, and only on the girl's direct orders did he not sue Rooster Cogburn...Seems to me in this situation astannguru needs a lawyer to reverse the Ch 11 petition...
It's June 25 today...
It's not done, myname, but you are...
If it makes you feel better stannguru, Ladenberg Thalmann has not updated its on-line research universe yet, and still has the May 15 listing that shows LOCM as a "Buy." Go for it!
If you think this case is remotely similar to Texaco's then clearly it is you that has been smoking grass all this while. Forgetting about the difference between millions and billions, there is nothing in the Texaco deal that should give LOCM shareholders any comfort whatsoever. Nothing.
All of it on the come, with no possible estimate forthcoming of the value. And after it's sold, all of the cash derived will be used to pay down the debt, including the trade creditors. What leverage does LOCM have to extract a premium price for this "value."? Answer: None. How many potential bidders are out there to create an auction environment that will drive the price higher? Answer: Very few.
It is surprising that the market held the price at seven cents yesterday. Sub-penny very soon
Did anybody notice that the company, in the 8K, stated that proposals #4 and #5 were not approved, yet the vote tallies suggest they were in fact approved? What's with that? Proposal #4 is indicated as a stockholder proposal, but in fact it was advanced by the BOD and requested immediate authorization for a 1-for-6 reverse split to boost the stock price to a level that would avoid NASDAQ delisting (don't get excited - after the RS, you would have 1/6 the number of shares you currently own, at 6x the current price).
Proposal #5 allowed the BOD to expand the number of shares available, thus opening an avenue to raise capital.
Hardly seems logical to reject either proposal, yet that is what the company says happened while at the same time contradicting itself with the vote count.
Hands obviously were shaking when they typed out the 8K: CFO Cragun signed the document that indicates CEO Thiel was re-elected to the BOD with 3,943,8333 votes.
FastPay is another crowd that must be livid -- the ink is barely dry on their agreement with the Loco Corpse and now they have to sit on their hands waiting to get paid their $2.3 million.
Goldman Capital is not Goldman Sachs. Mr. Goldman has been the company's largest shareholder for some time, although he peeled some back in the last couple of quarters (probably to meet redemption demands). You can assume that he is #$%$, because he was in the middle of the debt refinance deal in March.
Most likely, the "No" vote on expanding the number of shares forced the bankruptcy petition, but only for a matter of days or a couple of weeks, given what the accountants were going to do to the goodwill account at the end of the quarter, coupled with the continued cash flow squeeze
"so any up side here ? or down the drain ?"
Dow the drain. It does not require a close look at the balance sheet to see that there is nothing there, that the shareholders' equity is nothing but hot air that will be cooled considerably with the writedown of goodwill that the auditors will, or at least would have, required with the exit of the Yahoo revenue.
Let's hear it for an Equity Committee! Back when the Trainwreck (Trenwick) went under, there were a few individuals that somehow believed that there should be something available for shareholders, that the creditors should not get everything. They even hired a lawyer who took their money to make the case in front of a judge who in turn shot it down. They were blistering me all along for peeing on their belief in their position. Possible Letitgrow, kubota (especially kubota) and some of the others will rattle the cage for such a committee to represent their interests.