Any thoughts? Maybe that's what's going on? People ware wait to vote until he's gone? Seems logical.
I was surprised we didn't get any business update.
Good to hear re-listing effort is undway. I believe NASDAQ web side said re-listing is treated the same way as initial listing and takes 60 days. Assuming so, we could get re-listed any day. Assume we should hear about class action settlement by July 15th (date they promised the count).
Need to shift gears and sell some RC plants. Hard to change how you do things.
Agree that its that it weird there are no buyers or sellers with 22 million shares out. Assume the meeting today will trigger a least a little buying or selling. . I would think we'll get some kind of update/power point before the meeting?
2 shares have traded so far today.
I don't see a need to raise capital. If anything, I see a need to intelligently use the cash that will be coming in. while I'll need to spend some time with the last 10Q, I think we'll pay off all the debt by late summer.
Assume we'll soon return to the dividend vs buyback debate. I think our current slate of institutional investors are looking at a quick run to $20 (over next 6 months). Not going to happen over night, but its coming. While i don't plan to attend, I look forward to feed back from the annual meeting.
I expect the pre-payment ADA gets from the CCS customeri it mentioned that "upsized" its RC plant in Q2 to somewhat offset the litigation settlement (expect settlement of $10 million and pre-payment of $6 million).
What I would like to know is when do they expect to get off the pink sheets? Comments to date do not provide a lot of guidance.. I think we should be trading above $10, but think we may need to get relisted to get there (above $10) Settling the securities issue should help.
Appears to be good news - Filed a few days ago in Colorado District Court - My WAG continues to be the settlement will be $10 million (seems to be the sweet spot for these type of suits).
"The Parties—Lead Plaintiff, The United Food and Commercial Workers
Union and Participating Food Industry Employers Tri-State Pension Fund, and
Defendants Advanced Emissions Solutions, Inc. (“ADES”), Michael D. Durham,
C. Jean Bustard, Sharon M. Sjostrom, Christine B. Amrhein, L. Heath Sampson,
and Mark H. McKinnies— through their counsel provide this Joint Status Report
based on the Court’s March 8, 2016 Order, and also notify the Court that they
reached agreement on settlement terms at their May 24, 2016 mediation. The
Parties are in the process of preparing a comprehensive settlement agreement
and a joint motion to have the Court notify putative class members and approve
of the settlement under Fed. R. Civ. P. 23(e). "
In general, there will be a "bucket of cash". My guess it will be $10 million with the law firm getting 30%.
How much you get depends on how many people file claims. In general, you'll get 2% to 5% of your loss (usually closer to 2%).
It is a class action suit. . Particaption will depend on the rules set by the settlement.
In general, you'll be notifed by mail if you held shares during the time period. You'll have to caluatute your loss as directed in the notice. If you don't do anything, you get nothing. If you lost a lot of money, its worth it.
I've gone throught it several times.
After I posted I checked for new court filings. Plaintiff had filed an updated complaint on Monday. Nothing material, they just updated the filing to get it current.
Company said it would be getting $7million upfront from an RC sale this Q (upgrade by existing customer to larger plant). I'm expecting a settlement of $10 million for SH lawsuit. The parties are book for mediation this month and are to report back to the judge in about a week. If the RC plant sale closes and the SH law suit settles for $10 million, there should be no need to raise cash.
One we get past the SH settlement, debt will be paid off quickly and cash will start building. Then........... Dividends or buy back? At the current price, buy back makes the most sense to me.
wish we were up more, but not concerned about the small drop on light volume. . Our time will come. This said, we need to get relisted, pay off the debt, settle the class action lawsuit and sell some RC plants. We're getting there but work needs to be done.