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WPCS International Incorporated Message Board

vio9563 28 posts  |  Last Activity: Nov 10, 2014 11:25 AM Member since: Dec 31, 2010
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  • vio9563 by vio9563 Nov 10, 2014 11:25 AM Flag

    1. I haven't tried to buy or sell ENDRQ - but from reading here it appears this isn't possible anyway - is that correct?
    2. Does the Chpt 11 plan have to FIRST be approved by the courts before all END shares can be "cancelled?"
    3. After the BK 11 was filed, all my END shares in my account "disappeared." Now they have re-appreared as ENDRQ. Why is this since all my old END shares were to be wiped out?
    4. Any idea how long before the proposed BK 11 plan will be accepted/finalized by the courts?

  • vio9563 vio9563 Nov 10, 2014 11:18 AM Flag

    Micky.. I read that too. However ALL my END shares are now present in my stock account under the symbol ENDRQ.. Why is this - especially if all my old END shares were cancelled? I am confused - first time going through this. Does this MB have any thoughts on this??

  • Reply to

    What Catalysts Exist to Get This back to $1.00?

    by vio9563 Oct 12, 2014 6:13 PM
    vio9563 vio9563 Oct 13, 2014 11:02 AM Flag

    Just sold for a loss. I'm out. Maybe I'll get in later once a bottom is established, not sure. (Even then it would be for a Day trade or Swing trade. ) GL longs!

  • vio9563 vio9563 Oct 12, 2014 6:51 PM Flag

    I understand that the common stock is getting canceled - It's clear in the announcement. But does this mean trading doesn't resume Monday? Or at all? I though BK process had to fully complete before the stock stops trading. No Judge has approved their proposal yet to my knowledge.

  • I am a bag holder so I am not bashing... just asking if there is something I am overlooking? I personally cannot see how this get's back to a buck without a reverse split down the road. Shareholders voted no to issuing all those proposed addt'l shares - so now what? I know they cut their debt and all this year, but still not sure that is enough to prevent a reverse split - or even worse, a BK. Hope I am wrong. Thoughts?

  • Reply to

    Another Criminal Probe Into WPCS

    by vinnies_stock_warehouse Sep 27, 2014 8:33 PM
    vio9563 vio9563 Oct 12, 2014 6:05 PM Flag

    I couldn't find ANY news or links saying a criminal probe is taking place. No link = no truth. Provide the website if it's true.............

  • Reply to

    Parting thoughts...

    by xsmithsee Oct 12, 2014 12:21 AM
    vio9563 vio9563 Oct 12, 2014 6:00 PM Flag

    Good bye - and good luck y'all. Thanks for all the good info and posts.

  • I don't have any experience with a company filing BK who said upfront they plan to cancel all current shares even before the filing was completed or before the BK 11 process was completed. Plus the stock is already at .16 cents so we are starting very low to begin with. I would guess shorts who haven't covered yet will do so on Monday morning. That should cause some kind of spike - correct? With all that in mind are there any reasonable guesses on what the high of day could be? Or by Tues or Wed? I already saw on this MB a guy who thinks it will get to a dollar - but is that "reasonable?" Who would buy this stock now to push it that high? And wouldn't most shorts have already covered by the time it dipped to

  • Reply to

    The Saga Continues

    by tthemainman38 Oct 9, 2014 11:42 PM
    vio9563 vio9563 Oct 10, 2014 8:16 AM Flag

    I too have held my shares and I am still here. Long and strong. I just don't want to speculate anymore so I have been quiet. In case anyone cares, I have seen a few folks mention a pre-packed BK coming. I remind all that a pre-packaged BK must be voted on by shareholders by law. This (a Pre Package) is different than the company simply fling BK 11 - which of course doesn't require a shareholder vote.

  • vio9563 vio9563 Oct 9, 2014 9:27 AM Flag

    Fyi for y'all.. Whole Foods may be a good buy at this time - at this price point. Do your own DD.

  • Reply to

    END presentation to Debt Holders

    by investornava Oct 4, 2014 1:57 PM
    vio9563 vio9563 Oct 5, 2014 9:06 AM Flag

    Nice find Invest! That presentation doesn't show signs of an intent to file BK. It shows intent to restructure debt out of court, cut costs and produce oil and gas in 2015, 2016, etc. This was their pitch to Credit Suisse no doubt - and it worked! If managed properly, and with some good luck, there are folks who still believe that this company can produce profits but the bashers just keep glazing over that. Hey, if Radio Shack can find creditors, (read recent news) so can END. Nothing is over until it's over. Right now, the END is still in the game and has obtained new liquidity. Let's see what that means on OCT 7-8. I am holding my shares.

    Sentiment: Hold

  • Reply to

    440M secured first lien loan

    by investornava Oct 3, 2014 8:53 AM
    vio9563 vio9563 Oct 5, 2014 8:53 AM Flag

    I know what he's referring to, section 8.01 in the 8K. "The Company remains engaged in discussions with representatives of certain holders of its various classes of indebtedness, including the parties to the Forbearances Agreements, regarding a debt restructuring plan that would be effected by the Company pursuant to a chapter 11 filing. No assurances can be given, however, that such discussions will result in an agreement for a debt restructuring plan." My thought is, if that language in section 8.01 was a DECLARATION that END had already DECIDED to file BK 11 (aka: a foregone conclusion) then I would think that "fact" would have been immediately and, loudly broadcasted by many analysts - because it was so clear and definitive. The Street, SA, M-Fool, Zack's, etc. are usually pretty quick to jump on such juicy news as that. Further, if BK 11 was already a foregone conclusion what need is there for the phrase, "No assurances can be given, however, that such discussions will result in an agreement for a debt restructuring plan." ?? Give "assurances" to who? The Jr. debt holders? No, contextually that wouldn't make sense since those are the folks they are currently talking to! Assurances to who then? How about the the shareholders, employees, and all others who could/would be impacted by a BK filing! I therefore conclude these debt restructure conversations with the various note holders are intended to reach an OUT of court agreement. (As was accomplished with Credit Suisse.) Now I am assuming mitigating loss is the JR's first priority. As previously stated, JR's don't typically do as well as Sr.'s in a BK 11. Thus contextually, logically and practically I see the current debt restructure conversations mentioned in section 8.01 of the 8K as attempts to reach an out of court agreement. I believe if successful; NO BK WILL OCCUR! GLTA!

    Sentiment: Hold

  • Reply to

    Leverage

    by xsmithsee Oct 2, 2014 4:46 PM
    vio9563 vio9563 Oct 4, 2014 12:33 PM Flag

    After looking again at the words "affected" & "effected" in their context in the 8K & in the PR, I don't see that it changes much. (In the 8K, this is "Item 8.01" if you want to see it yourself.) I was reading into the word "effected" more than was warranted. My reasoning is, if the language in section 8.01 was a DECLARATION that END had already DECIDED to file BK 11 (aka: a foregone conclusion) then I would think that "fact" would have been immediately and, loudly broadcasted by many analysts - because it was so clear and definite. The Street, SA, M-Fool, Zack's, etc. are usually pretty quick to jump on such juicy news as that. Further, if BK 11 was already a foregone conclusion what need is there for the phrase, "No assurances can be given, however, that such discussions will result in an agreement for a debt restructuring plan." ?? Give "assurances" to who? The Jr. debt holders? No, contextually that wouldn't make sense! Assurances to who then? How about the the shareholders, employees, and all others who could/would be impacted by a BK filing! I therefore conclude these debt restructure conversations with the various note holders are intended to reach an OUT of court agreement. (As was accomplished with Credit Suisse.) And Yes, JR's can FORCE the BK issue, (aka: exercise their rights to remedies due to default) - they don't have to negotiate anything but CAN ONLY do that IF END doesn't make the $33MM coupon pmt. And, may do so if END doesn't pay AND (I reiterate AND) it was financially in their best interest to force a BK. (I am assuming mitigating loss is the JR's first priority!) As stated, JR's don't typically do as well as Sr.'s in a BK 11. Thus contextually, logically and practically I see the current debt restructure conversations mentioned in section 8.01 of the 8K as attempts to reach an out of court agreement. I believe if successful; NO BK WILL OCCUR! GLTA!

    Sentiment: Hold

  • Reply to

    Leverage

    by xsmithsee Oct 2, 2014 4:46 PM
    vio9563 vio9563 Oct 2, 2014 7:52 PM Flag

    Tech - Good catch. I didn't see that in the 8-K; I was looking at the press release on their own website. Leave it to END to make this error! I don't have time right now to respond on how that affects my thesis. (Or should I have said, "effects?" ) ha ha.. I am tired now....going to go have some family time....

  • Reply to

    Leverage

    by xsmithsee Oct 2, 2014 4:46 PM
    vio9563 vio9563 Oct 2, 2014 5:52 PM Flag

    Xsmithsee, I agree - really good, concise summary. The pressure is really on the juniors now - thus they agreed to another 7 days of forbearance. The new loan, the new liquidity, changes things. The JR's are running numbers right now trying to decide if they would get paid more $$ in or out of a BK and which alternative carries the most risk for them. "The Company remains engaged in discussions with representatives of certain holders of its various classes of indebtedness… regarding a debt restructuring plan that would be affected by the Company pursuant to a chapter 11 filing. No assurances can be given, however, that such discussions will result in an agreement for a debt restructuring plan." For me, the two key words in that paragraph are the words, "affected" and "pursuant." Pursuant can mean "following" as "in pursuit of" and also can mean "in accordance with." Also, the word "affected" is used in lieu of the word "effected." (That was on purpose via the lawyers.) Affect and Effect are two different words so let's connect the dots. To be clear, END is definitely entertaining BK 11. But in my view largely as a leverage tactic to bring JR. debt holders to the table to negotiate an OUT OF COURT restructure since the JR’s could especially get burned in a BK 11. I emphasized out of court because LOGIC DEMANDS to interpret this as an out of court restructure discussion. Otherwise there would be no need to say, "...No assurances can be given however, that such discussions will result in an agreement for a debt restructuring plan." Why? Because in a BK 11, its GUARANTEED that a debt restructure will occur! And as stated, JR's will get burned. In other words, they would be "affected" [negatively] if END were to "pursue" BK. That’s how I interpret that paragraph. END is in part 2 of their out of court restructure. The first part was a success; they got that loan! (BTW, could be Credit Suisse required the recent KERP as well as leaving Transier out as part of the terms!)

    Sentiment: Hold

  • vio9563 vio9563 Oct 2, 2014 4:36 PM Flag

    If it goes there.. I agree - but only as a day trade or short held swing trade. These things usually bounce after a BK announcement mostly due to short covering in my experience.

  • vio9563 vio9563 Oct 2, 2014 12:17 PM Flag

    SMART - that article on Google Finance - was it the article by REUTERS? Just wondering. Also, can you provide the exact title of the article - and if it wasn't Reuters who/where was the article? Thanks!

  • vio9563 vio9563 Oct 1, 2014 8:38 AM Flag

    Unemon,, You know premarket means nothing, especially only 2000 shares traded. The real acid test is whether or not we see a new 52 week low this week - or next. I am betting we don't!!!! You already were wrong about the "certain" BK announcement coming today. So keep up your bashing, maybe some poor sheep will listen.

  • All who previously said no one will extend credit to END was dead WRONG! I quote, "Endeavour International Corporation (END) (ENDV.L) today announced the closing of a $440 million senior secured term loan ..." also, "The Company also announced that the Company and certain of its subsidiaries have entered into forbearance agreements... The forbearance period is scheduled to expire at 11:59pm on October 7, 2014." (The FORB agreement was for that $33.5 MM payment owed this month.) Now why do you think they extended the deadline from Sep 30 to Oct 7? Because negotiations ARE happening, but not yet concluded. Chpt 11 BK was NOT a "give in" or a "no brainer" as many asserted. I quote again, "The Company remains engaged in discussions with representatives of certain holders of its various classes of indebtedness, including the holders of Notes, regarding a debt restructuring plan that would be affected by the Company pursuant to a chapter 11 filing. No assurances can be given, however, that such discussions will result in an agreement for a debt restructuring plan. Under the terms of the Credit Agreement, neither a chapter 11 filing, nor the failure by the Company to pay the interest due on the Notes, will result in an event of default thereunder." OK,, talks are ongoing with debt holders of "VARIOUS CLASSES" - meaning lower priority classes included - who most likely would get burned in a Chp 11 BK. Hmmm, perhaps its best they talk now, out of court! I would argue, if the Sr. debt holders are willing to extend grace/credit/restructure terms, etc. why wouldn't the juniors - who would not do as well as the Seniors in a BK 11? No one knows the future, we all just speculate based on the LIMITED knowledge we have since we aren't privy to all the facts and figures and negotiations. Remember this when either bashers or pumpers (as I have been called) speak about future outcomes with absolute certainty. I will hold my 31K shares and still "betting" on NO BK. GLTA

  • vio9563 by vio9563 Sep 30, 2014 5:07 PM Flag

    Anyone on Level 2 see why it spiked in the last few minutes?

WPCS
0.3151-0.0192(-5.74%)Dec 26 3:59 PMEST

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