Ugh, kingy - MHRCQ is the new ticker because MHR was delisted it is not the post BK company. There is not new company until they exit BK and that won't happen for quite some time do you really think a BK rinsed stock would come out a
I think they delivered the notes because the 45 day grace period expired. I've re-read the articles and although headline indicates they reached an agreement it really sounds like they have agreed to try to come to an agreement - which isn't much of an agreement. Your sentiment seems correct, BK coming soon. I do find it a bit interesting that they are bothering with the LINE to LNCO offer if the equity is all going to be worthless in a few weeks why bother?
I was a CPA and have bought/founded and sold 3 companies - I haven't got a clue what that announcement meant. If you do and it was good you should hold, if you haven't a clue either you should take this 27% gift and move on
1) The company has always used new equity offerings and debt to pay distributions
2) An analysts (that I personally derided as a guy that should go back to playing college hockey) warned you their biz model was flawed
3) The company changed its reporting to show maintenance capx differently after pressure from SEC/analyst
4) The drop in oil is far from unusual - in fact it happened last time oil went over $100
And all most of you seemed to have learned is that this is all Ellis's fault and he should die? I learned I will never invest in a highly leveraged entity again unless their cash flows are almost completely immune from economy and certainly immune from commodity prices. Good luck all and remember if your position is only worth $500 today would you leave $500 bucks on the street because yesterday there was $5,000 sitting on the street? They have all but announced they will be filing
there is no debate on this blo- the company has announced that preffered and common get -0-. You are a degenerate gambler that should not be playing the market - go to vegas any game they have has 100% better odds than mhrc and you get to look at pretty girls
people never understood the risk they were taking, now they are whining, maybe Trump needs to fix that if he wants to make the us great again
and we are getting thumbs down.
At this point I don't care, I sold at .72 a couple days ago (kind of wish I had waited a day). Been a pretty miserable year as I owned by line and mhrcq. I'm done with highly leveraged companies forever - it was always a stupid strategy to borrow money to pay dividends and I knew it but got sucked in by the big divy
MHRCQ is up 6% today. This was in their 3-2-16- 8k filing (v) holders of the Company's preferred stock and common equity would not be entitled to any recovery;....
Don't pin your hopes on the fact that a few people are buying LINE after a huge drop
I can't argue with that, congrats. I sold anyway - I don't think that is happening in this case
it wasn't the media that said BK it was the company. Going up everyday? are you standing on your head
can you all now stop with the oil is going up and you never know etc. do a little more research and less posting