the LA screw-up wasnt fixed, they just got the bankruptcy count approval to sell the LA property; they stilll need the gov OK to actually sell it. in essence if the get the govt approval to sell the property then they can
another stock market genius
$ 1000 will get you 13,000 shares. figure a 25-1 reverse split you have 520 shares or maybe it gets zeroed-out. if it doesnt get zeroed-out you could be a genius
stockholders; Im a little short of the 2.2 million shares needed to qualify; i dont think i have to send anything in with my measly amount of 30k shares
whats the point ? you bought at $ 12 or $ 9 or $ 3. whats the point ? 10,000 share @ 8 cents, $ 800
and it probably will go to zero. whats the point ? does $ 800 matter just curious
is this going to screw-up the plan ?
assuming NG doesnt go to $ 1
even at 20 or 30 cents its still an attractive price before a 10-1 or 20-1 reverse split
the trustee or receiver takes control. ..... BK means the common is out, terry is out, and the bonds will get maybe 5-10 cents on the dollar, tops. the banks will sell assets at fire-sale prices, and nothing will be left for anyone else
i think if the common gets anything, we will be extremely fortunate; the chance of being zeroed-out is probably 90-95 %. if we get anything it would be a gift. if the company is sold we get nothing.
if, big if, oil and NG come back, they are sitting on valuable real estate. at 7 cents its priced for total liquidation and nothing for common and almost nothing for bonds
would be to save the legal fees from all the lawsuits if it is zeroed-out
bonds get 95 % equity 5 % terry and crew out.... it would be the equilivant of a 200-1 reverse split .... othwewise the common goes to zero