Worth mentioning that as of Sept 30th value of all assets was 583M when NG was trading at around 3.50 if memory serves well...who knows may be just may be.......
Took the time to transcribe a little bit of Justice Yamauchi dated 11/27/13 related to the monitor's report and hence our future with the company. Go the monitor's web site if you want to read the whole transcript
"...if indeed the report that the monitor provides to us on or before or AFTER Dec 6th, shows that the assets indeed have significant value , then we might be in a different process, anyway. If the assets prove to be worth some let's pick a number $600M at the end of the day, plus the value of the NAFTA claims and the liabilities continued to be where they are today, plus accrued interest, then there may indeed be value for entities other than the creditors secured or otherwise, but that remains to be seen...."
First, report could be presented or not tomorrow, Second Justice Yamauchi deems as possible that we are on the money depending on the value of the assets, there is even a number mentioned.
IMHO if the report is presented as a liquidated company show is over for us. If the report is presented as going concern and the valuation exceeds liabilities by 1 cent we are on the money and the process continues...GOOD LUCK tomorrow may be the day where the curtain is lifted for good or the show is cancelled.
At least the value of the proven assets should have gone higher in this run of NG...I hope the monitor recognizes all of the improvements in the Balance sheet.
NG broke resistance today..now at 4.07 which makes LPR balance sheet even better, trend is higher probably to 4.5 by Mid Winter.
On a different note, the monitors report is supposed to be out , hopefully good news will follow ...good luck to all
Been here since it tanked after the AF report, everytime it hit 2.09 it retrace back down and I missed it 2 times already...I have the feeling that this time it actually will cross it but the growth in short interest is worry some..either a huge squeeze will happen or shorts will bring it down again...
I am also at a profit now, but I think this time this rally is for real. There are no strange comments, or news to account for, it is just buyers coming in, I will wait to 2.10 if it crosses with conviction we will go to 3 very fast...
DO NOT SELL UNTIL WE HIT 2.09 then is up to you...look at the charts we have not broken 2.09, always stops there...once we go above 2.10 with convicton, we will fill the gap up to 2.60 very fast...so DO NOT SELL YET!!!
Sentiment: Strong Buy
As they say...for every seller there is a buyer...so either shorts covering (why cover now if it goes to zero???) or someone in the know buying and getting ready for the BIG rally...GLTA.
Value of a company reflects the value of all assets if you distribute 16 cents/share to shareholders then the value of the company just went down by 16 cents and the pps should reflect that.
But the divi is paid for those that own shares as of 4PM today 12/3 not 12/2 can someone confirm pls?
Last 10 minutes rallied significantly and a big trade at the end of the day, any news? All we need is for the market to open decently and we go higher....Other BIOS/PHARMA also up on the day.
Sentiment: Strong Buy
At least that is not what I said, fashion is asking how much do we get in the hypothetical event of liquidation, my answer is I do not know...watch for the monitor's report this week, depending on it we go to zero or bounce back IMHO.
10 cents * 85 million shares = $8.5 M above what is owed to note and bond holders, I would say 8.5M is a drop in the bucket BUT under normal circumstances, valuation is a very interesting and somewhat subjective "science", I think the company AS IS today is worth 50-75 cents/share (without the Quebec stuff), but today we are in a very abnormal and difficult circumstances as we are behind note and bond holders when it comes to getting our fair share. All note and bond holders care for in liquidation is to extract enough value in the company to recover as much as possible of their investment, any thing beyond that IS NOT gravy for them, there is really no incentive for them to get more money than what is owed to them, and they are in control of the company right now. If we go into liquidation, I would not dare to predict what we get from our shares may be 10, 20 cents..I just do not know. What I AM CERTAIN OF is that FST and LPR management have been ahead of the curve all the time, this whole fiasco was planned carefully and with anticipation, so I would not be surprised if FST and LPR somehow come up or they already have a plan to make note/bond holders whole, screw us and under the table still keep some/all of the assets for themselves in that case we get zero, nada, the next monitor's report is do or die for us..IMHO
This is an urban legend....this is very simple....if you have a cash account MM can't touch your shares for any reason, they are yours, if you have a margin account then those shares can be loaned for shorting purposes, margin means that you are borrowing money from the MM, therefore MM can and will act on those shares.
Sentiment: Strong Buy