That is good to hear. I didn't like the switch to stakeholder. I should also not that I had a response within a business day (I think, but this week has been a blur). They are at least responding.
Never forget that most of the dozen or so who are still on this life boat lost a lot when this ship went down, largely based on hopeful thinking. Sorry, but always feel obligated to add a disclaimer when discussing this stock.
So I wrote investor relations knowing that they would tell me the future of the common shares. Well maybe I didn't really expect that. Anyway they referred me to the case site that we have all seen and the hotline. restructuring hotline at 877-940-2410
Anybody call that number and ask who is representing stockholders? Spent enough of my money on this not sure that I want to throw away my time too.
I suspect those tiny trades are computers fishing, seeing if there are nibbles. Auto-trading all the nickel stocks to see if it can build volume. Or something like that. No real money needs to keep this down so much. It could increase 1000 fold and still be affordable if real market movers saw value.
Something unusual happened with bonds after hours, I think. It looks like a big transaction but I don't understand bonds. I find the sequence odd 1MM+ bought and a few seconds later 1MM+ sold. Again not sure what I am reading. I look at bonds using Morningstar and look up Quicksilver. These were the 2016's.
Yes, the late filing bothers me. Suppose that a swap of common shares for debt was in the works, wouldn't they make at least a little effort to protect market confidence in the common? If there was even a little confidence share price would go up and the debt holders could be enticed by stock worth more than four cents. I have seen no evidence that Quicksilver is interested in improving shareholder relations which is key to building confidence. I think that debt holders might get shares but it will probably be new shares. However, the possibility of a partial cancellation that vivamelgar mentions is interesting. Perhaps a split that does the same as canceling might work out? It would almost have to be something like a 50 to 1 to get the price up.
Count me as one wants this to go up. I have lost a lot of money with it. That said, the optimism expressed here is one perspective. Another perspective is that this no longer investing in any sense of the meaning. It is gambling at casino odds. You might win but the odds are with the house. The house wants to survive and the fight in court has been between bond holders with secured debt and bond holders without secured debt. Survival means making them happy. Making shareholders happy has no relevance to the company's survival. I have seen no evidence that shareholders have been represented or considered. We had a chance and did not form a committee. We can't sue later because we were ignored as we made no effort to be heard in the court. Shareholders were slapped in the face again today by the latest SEC filing. Routinely, shareholders are denied information and are subordinate to other company agendas. I can't help believing that this will be cancelled. I want to be wrong.
Good luck at the table.
Try the first link here
Enter just the word "quicksilver" in issuer field and select corporate bonds once you get to the search screen.
Has anyone seen anything of substance about shareholder representation in the filings? I don't see any advocate for us. Is there one? Please don't answer this question with "the Dardens are because they own so much stock and they will never let it..." The Dardens have no credibility in that area.
I think the stock is going to be cancelled. Look at Kmart. Look at GM. Look at Kodak.
Here is what the SEC says:
Note: Investors should be cautious when buying common stock of companies in Chapter 11 bankruptcy. It is extremely risky and is likely to lead to financial loss. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. In most instances, the company's plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company's assets before common stockholders. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution.