Good! Just saw that. DEC 18.
A D&O Proof of Claim must be received by the Monitor by no later than 5:00 p.m. (prevailing Eastern time) on December 18, 2015 , or such later date as may be ordered by the Court, (the “D&O Claims Bar Date”).
FAILURE TO FILE YOUR D&O PROOF OF CLAIM AS DIRECTED BY THE D&O CLAIMS
BAR DATE WILL RESULT IN YOUR D&O CLAIM BEING FOREVER BARRED AND
EXTINGUISHED, AND YOU WILL BE PROHIBITED FROM MAKING OR ENFORCING A D&O CLAIM AGAINST ANY OF THE DIRECTORS AND/OR OFFICERS OF THE CCAA PARTIES.
Cut your losses on, and move on. Professional short sellers sniffed these guys out 30 points ago.When they show up in your stocks, in that magnitude, take notice. These sharks are usually right! imo
You have been promoting this junk for a long time here. steady and relentless. Is The Grim Reaper here, or just a complete fool? I suspect Uni pixel will continue its journey to zero. Your pumping won't stop that.
Good post nick. The best term being floated around , mutually assured destruction. When will large shareholders in these giants demand change? 30/iron ?
Nick if you think that with conviction, you should buy 2500 April 3 calls. That would be a good trade on 1/2 billion cash coming in, imo. For a company buying debt at less than 50%, it's kinda like hitting the lottery!
Any fools still here from 2014? Tried to warn you of this epic and unprecedented boiler room scam. I took much heat! Made a lot of money on the short side. I was lambasted by the speculators. Very nasty. A share decline from 220 mill/sh, split adjusted, to .0005/sh! NICE!I Unprecedented in the history of markets! I challenge anyone to find such a bird, anywhere, in all eternity. Never did such a scam fly under the radar, for so long. Never. Some $7 billion was fleeced by these crooks. NEWL, never again will we see such a bird. The very best short there ever was! The most impressive scam I have ever seen. I will recommend a case study on this company to the good folks at the Wharton School of Business.
That is absurd! If Cliff's gets anything in that neighborhood(which is not being discounted in the prices),, you want to own the stock and bonds,, especially the stock.
are these shorts playing for zero? They have been here large for a long long time, and won't go away! Well over 5 billion in destruction, since they showed up in amazing numbers. They were here before CASA I assume?? I was not here, just assuming. Market cap now, 350m.
I have a list a mile long, 100s and 100s of financials, never made it out of the soup. Many that did, Bank America, Citi, Etrade, etc saw there shareholders diluted into oblivion. Hi risk capital is a good approach to impressive upside.
That is true, of course. But I think there is recovery potential on the bonds, using a mark to market 1.75bill enterprise value. Cliffs infrastructure and US business has value. A lot of value...... if market conditions improve.
Agree my2 cows. The senior debt is the most interesting security on the capital structure. A more conservative play is the 2018 issue.YTM of 45%/year, and a better chance of getting whole. The 2040 for a longer term bull. But I think they are handicapping closer to 80% chance of recapitalization, not 50/50. Last weeks take down was impressive. The stock and bond analysts were busy taking there revenue, enterprise value, and EBITDA numbers down, yet again. Moody's will downgrade absent any asset sales soon.Some vulture investors think the bonds are actually trading below ch 11 prices, and recovery could be better than market prices in ch 11. If you get a couple of coupons in your pocket, could be a great trade. I agree they offer common stock potential with less risk. You have to wonder whats going here? CASA dumping stock makes no sense to me. Why dump 700k now, instead of going to 10 or 12 mill at these prices. Are they broke? Is it a deliberate attempt to bring bond prices lower, a gambit in play? Will 1st lien holders hijack the company? Its pretty crazy now.
"you didn't offer any objective rebuttal to surf's comments" I think comeback is referring to the bond discussion on the table, not whats already played.out. Of course surf was wrong, as wrong as can be. Snapshot stock price, 2 bucks = wrong!! Water under the bridge. New and existing investors are now vulture investors, like or not. You can see zero out the front window. Stock is trashed, bonds are trashed, bonds trading at or less than Ch 11 prices. CLF strategy on debt reduction is to take advantage of deep discounts in there senior notes. Its very much the plan that is in place. Proof....they did retire 400 mill over the last year. The problem is cash from asset sales has not played out LG suggested it would. I think that is the discussion on the table.