I'd say your one accounting class in college does not make you an expert in "selling" capital losses. Care to name one of these numerous companies that have done so?
And less we forget how accurate quantbyte is here is his posting from October. Very funny.
"Only a matter of time before DNDN gets bought out and taken over by a larger fish, its just the natural order of things. That filing had the same boilerplate language in it that older filings had for months and years. Look at a similar filing almost a year earlier, the SAME EXACT SENTENCE appears in that OLDER filing! LOL
The shorty bashers just whip up spin tactics in social media and then back it up with no uptick rule short selling by going massively into a deep margin hole in an effort to make the 'panic' appear legit, which over time eventually makes the longs fearful and they sell to shorties looking to cover low. Its just a game and it has been going on for many decades but more so recently because of all the funny money from the FED straight into the large banks who in turn have orders of magnitude greater liquidity to throw at speculating in the market, and they use that overwhelming purchasing power to MANIPULATE stock prices up or down. I'm getting tired of TEACHING you simple stock market 101 stuff so I am going to go make a sandwich now and contemplate what I will do with all the money I get from your betters once they are caught with their pants down and their hands in the cookie jar. Run back now and tell them I suggest covering now before its too late. Soon"
Good grief you are truly clueless, their cost basis is not and will not be $51.24. That was a conversion price that is not being exercised. They are not being "forced" to convert. I am no tax expert, and clearly neither are you, but under the scenario you describe their loss would be in the area of 60%. Do the math yourself, a 620M investment now valued at 275M is not a 97% loss. You know just enough to be dangerous.
The bond holders do not hold shares and they do not have a $50 cost basis. You have confused the conversion price of the notes which was $51.24. Obviously they have not and will not exercise their conversion option. They have agreed to take a bath on the 620 million in notes settling for a MINIMUM of 275 million. In reality their notes have been recently valued at about 40% so this loss is not a sudden shock. There seems to be disagreement on what happens if there is a bid above 275 million. Since the bondholders set a minimum bid of 275 that implies to me that they are hoping to recover more than the minimum. They would have no incentive for it to sell for more than that if they are simply allowing any amount over the 275 to go to shareholders. Every BK I have witnessed allows the bondholders to get made whole before shareholders get anything. Shareholders are last in line. Confusing a minimum bid of 275 M with what the bondholders are due is pure fantasy, Something we have sen a lot of here.
What a clown. Do you think the SEC cares about every poster you disagree with? Your lack of even the least bit of basic knowledge makes me wonder why on earth you are dabbling in the stock market. I guess your results speak for themselves.
Actually the FACT that people you label as bashers/shorts are still here disproves your theory that they are shorting the stock and trying to drive the price lower. When a stock trades for a dime on the pink sheets there isn't much left to bash or short. Perhaps the thought that some people were trying to suggest theories on why the stock was declining and were simply sharing ideas and trying to assist others is a more accurate description of what was and is going on. Some of those remaining here are in the "I told you so" mode, possibly as payback for the ridicule longs placed on them and the instant thumbs down their posts got by delusional longs. Just one mans thoughts. Many here would benefit from listening to opposing views.
jonny posts 14 times in a slow hour. If you feel I'm posting excessively feel free to ignore. Many longs here have ignored the very posts that could have saved their a..
What exactly do you believe is going to happen with the "crooks" you refer to. And who specifically are you referencing?
You forgot to mention the 100,000 shares you claimed you had bought as well as the options. As for the board colluding against you I assume you are referring to the board of directors and not this message board. This board has been filled with suggestions to sell and why.
My last post was four days ago. Guess your observations of my posting frequency are as good as your stock picking. $40 by Monday!
The medicare insider trading was four years ago. It temporarily affected the price and the market, which is far more efficient than longs here give it credited for. To say that had any role in bankruptcy is foolish to say the least. Than again there have been many foolish statements on this board.
Sorry to say I have had this experience twice. One time the shares remained only they were valued at a fraction of a cent. It would have cost more in commission to sell them than they were worth so I kept them both as a reminder of what can happen and because I am stubborn. These are in a tax free account so no point in recognizing the loss. My other one was declared worthless and they were in a taxable account so I wrote them off. You may want to consider moving on, in can be painful to see them languishing in your account.
I have never heard of such a scenario as the bond holders being partially paid and shareholders remaining at the table.
My understanding is that your #2 is incorrect. I believe the bondholders get paid first.