What's interesting is the price swings with the increasing volume. I'm not sure if this is any indicator that maybe we are getting closer to moving to a non-grey market exchange.
It was about a 110-115 exchange from the old stock to the new. I'm showing the same symbols in my account - where the Leap Options have no value set yet.
It's been 5-6 weeks since your post and we are still sitting in the grey market. Have you followed up with Doug to get an update on when they will be on the OTC and what is holding it up? Thanks for your initial call to doug. I may call doug next week when I'm back in the office.
They may be thinking the SD is going to go the same direction as SFY where all debt is converted to equity and 5% is allocated for the company and 4% allocated to the common shareholders. I know that SFY went from $.03/s to $.21/s before they converted to the new company stock. Plus the common shareholders were given ~7.5X shares at a strike price with a 3 and 4 year future options point. Seems like a lot of the E&P BK's are using the same playbook.
I bought 45k/s at $.019. This is a bet at the same cost as a 3 day weekend.
My experience in getting Stock Options as Deferred Compensation is that it vests at 25% per year with a to be exercised within 8 years. So they are looking for a 3-5 year return window.
The same was said with SFY (Swift Energy) - the current stock was eliminated and replace with the NewCo Stock. As part of the Reorganization Plan the Company Management stated that 4% of the new co stock would be allocated to existing shareholders. Is that the situation here? Or is a true wipe the common shareholders out?
I moved all my SD holdings over to SFY. Now I'm sitting with some base stock priced at $23 and whole bunch of future options. I don't think I will recoup my full loss in SD and SF, but it will be close after a few years.
I was thinking of buying some SD at the $.02 cent level. It seems that the BK Consulting companies are converting debt to equity, so if they don't wipe out the common shares - we may recover fairly well.
If no one has - then I'll call him.
Cramer seems to have his own agenda and why put this company in front of a loose cannon. We are in great shape - we've come through the BK Tunnel and its going to be all sunshine.
I normally don't take any advice from a Message Board poster, but when the stock was down to the .08 cent point. I had asked Crabby if he was buying - which was Yes. I bought 40k shares thinking that this would be a weekend vacation that I could loose. I'm feeling the same as you guys - we could make a boatload of money when the market comes back.
Market is showing that supply is dropping off and Demand is increasing faster than the predictions. Imagine that!
When I try to correlate the NewCo stock price of $23 vs 0.22 cents - I thinking that a double is possible in next 1-3 months.
I am glad that I didn't liquidate this stock when everything looked bleak.
Sentiment: Strong Buy
In reality it doesn't matter. I doubt that any of us who have held and bought at the super low prices are going to sell before we realize the longer term gains when the market recovers. I think we are in for the next 3-4 years.
Only thing I can maybe guess - is the number of nightly batch cycles to zero out accounts then apply the new # of shares, then the share values. I would think everything should be done by Friday Trading.
No it just gives me the number of shares with no values - its interesting is my cash position is lower than my cash last week and my overall balance is nil.
Question - I'm seeing three different symbols -
SFY# - first one with a low number of shares,
SFY## - with ~5.4X the SFY#
SFY## - same ~5.4X the SFY#
So not clear if the SFY## are 2019/2021 Warrants.