I'm buying a bit almost every day. The float is limited, and if you buy all at once you can make it go up over $1. So I like the selling. It can take 6 months to accumulate 3 to 4 percent of this LP. My grandchildren will have a tax free income that they can all live off. Not quite like the Clinton's with their tax free "charity", but I'm not breaking any political contribution/bribe laws.
Are you and I going to use less gas because of the NG pricing ? (prices haven't been this low in a long time). Electric utilities going to switch from NG to coal because of the low NG price ? Petrochemicals lower their NG feedstock ?
Hint: answer to all 3 is "No!".
NG volumes just keep going up.
The only "problem" MEP has is that sometimes it gets paid for transmitting NG by getting the right to sell the NGLs that condense out of the NG, i.e. propane, methane, etc. and NGLs prices are low. But, most of time MEP gets paid in cash (even if no NG flows, just to reserve the capacity). Also, Texas Express lives off NGLs. There is talk that ethane is so cheap now that some producers would rather burn it than pay MEP to pipe it to market. All eyes are on export projects that will supposedly double or triple the spot prices.
Its just an accounting relic. No actual cash loss or profit was incurred as a result of the "derivative" (convertible prefereds that have not been converted yet). Of course, if you want to buy cheap shares, then shout: "Oh no, big losses, we're going bankrupt!". But who is stupid enough to listen to such lies ?
IRlier conveniently forgot to include Listing Standard No. 4, market cap based, which doesn't need any of those requirements, and "amazingly" doesn't need "employees, business plan" just assets, of which we have 10 time more than the requirement. See my posting from a few minutes ago for the full details.
What a typical "half truth" deception by ir. He "forgot" to include Listing Standard No. 4, which is the one WMIH will file under. No sales, employees, or business plan, are required :)
What is required is:
(1) Marmet cap of $160 million (we are clearly WAY bigger)
(2) Assets of $80 million (we have $600 million just in cash !)
(3) Stockholders’ Equity $55M (we have 10 times that!)
(4) Share price $4 (The day before we file, they will
make sure there is a large bid at $4)
That's why ir want to lie to everyone. We're all competing to grab as many shares as we can before this day. And we need someone to sell. So, if you believe his lies, by all means sell.
very funny IR. They don't have to be "interested". We have the $600M in cash, and we will buy what company WE are interested in. And Capmark is our "sister" company - owned by similar entities as WMIH and with a similar history (BK+NOLs+3 years waiting period). CPMK "predicts" what will happen to WMIH.
wait a bit, and you'll have asks in the 40's.
the question is "how low will she go ?"
Natural gas (dry and liquid) is crashing.