My Understanding: Price has to average less than one dollar for 30 trading days before delisting procedure begins. August 7(correct if Im wrong) will be 30 trading days(from june 25). August 5 is the earnings announcement day. Would that be a good day to announce an reverse split(If one is required) FYI
The number of active U.S. rigs drilling for oil climbed as of July 2, according to data from Baker Hughes BHI, +0.82% released Thursday. That marked the first weekly increase in 30 weeks. Data were released a day earlier because of Friday's holiday. The number of active oil drilling rigs saw a weekly climb of 12 to 640. The total active rig count, which includes natural-gas rigs, was at 862, up 3 from last week. Compared to last year, the total rig count has fallen by 1,012, with the oil rig count down 922. August crude CLQ5, -0.51% was up 18 cents, or 0.3%, at $57.14 a barrel on the New York Mercantile Exchange. It traded around $57.43 before the data.
All this talk of T/A wont mean anything unless the pps clears a buck. Facts of life.
How Delisting Works
The rules for delisting depend on the exchange and which listing requirement needs to be met. For example, on the Nasdaq, the delisting process is set in motion when a company trades for 30 consecutive business days below the minimum bid price or market cap. At this point, Nasdaq's Listing Qualifications Department will send a deficiency notice to the company, informing it that it has 90 calendar days to get up to standard in the case of the market value listing requirement or 180 calendar days if the issue is regarding the minimum bid price listing requirement. The minimum bid price requirement, which is $1, and the market value requirement (minimum $5 million, provided other requirements are met) investopedia
Bennett Beancounter bought time, ya, time to collect his 3million a year salary... Beancounter Bennett did nothing creative at all. All the collars and hedges cant overcome incompetent leadership.
The Court has before it Tera Xtal Technology Corp.’s (“TXT”) Motion for Allowance and Payment
of Administrative Expense Claims Pursuant to 11 U.S.C. § 503(b)(1) [Docket Entry 1837] (the “Motion”).
In the Motion, TXT requests that the Court allow (and compel payment of) an administrative expense
claim in the amount of $3,789,963.00. GT Advanced Technologies Inc. and its affiliated debtors
(collectively, “GTAT” or the “Debtors”) have objected, disputing the factual and legal bases for the
Given the nature of the issues presented in the pleadings, it now appears that it may be
necessary to hold an evidentiary hearing on the Motion.
nice eod rally. Lets see what next week/month brings. All we can do is wait for Aug 5. Maybe the bean counter can do something right.
If any SD employees are monitoring the ymb, any update would be helpful.
what else is their but patience.
Bennett 3.9 million dollars
Chang 1.1 million dollars
Cooley 1.1 million dollars
lawler 1.3 million dollars
LeBlanc 1.5 million dollars
Warman 1 million dollars
Employees roughly 1800, though that number is probably outdated.
There are School Districts with more employees, where the Superintendent earns roughly 250K a year.
SD is laying people off, sure not taking any pay cuts by the executives.....
FYI--Oil futures climbed a second straight day Wednesday to finish at their highest level of the year. Data from the Energy Information Administration showed that crude supplies fell for a sixth week in a row, but it also showed that domestic production rose on the week. July crude CLN5, +1.83% added $1.29, or 2.1%, to settle at $61.43 a barrel on the New York Mercantile Exchange. That was the highest settlement for a most-active contract since December.
Mr. Beasley was appointed as a director in 2013. Mr. Beasley founded Eaton Group Inc., a Houston-based
executive leadership and strategic investment firm.
The University of Texas at Austin
1969 – 1974
Activities and Societies: UT Swimming & Water Polo Scholarship - Varsity Letterman, Pre-Med Honor Society, Acacia Fraternity
"wall street" seems view the plan favorably . The stock rebounded Th and went up on Fri.
According to Bloomberg, the issue, which was initially marketed for $1 billion, will yield a return of 8.75% which is 7.23% higher than the US treasuries with similar maturity dates. This validates the information from Bank of America (NYSE:BAC) Merrill Lynch indices that average investors expect a premium of 6.37% over what is offered by government securities.Crude oil prices that have plunged to their lowest level in six years and as a result have hit the liquidity position of energy companies. As a result these companies have resorted to various measures - some quite extreme - to cope with the impact of created by the fall in prices. Measures being taken include cost reductions, selling off assets, cutting capital spending or similar to this case, raising capital through issuing debt instruments.
Sandridge is not the only company to issue secured notes, whereas Peaboy Energy Corporation (NYSE:BTU) and Warren Resources Inc (NASDAQ:WRES) also issued secured notes earlier this year in order to raise capital to fund operations.
Meanwhile, Bloomberg Intelligence (BI) analyst Spencer Cutter, said he is not surprised that Sandridge is issuing second lien debt because the company had only recently got their credit agreement amended so they could do that. He added that it is a smarter way to issue this kind of debt as the company gets a flexible borrowing base with the option to revise it every few months, unlike bonds whose terms and conditions remain the same throughout the maturity date.
KDP Investment Advisors reported on Thursday that Sandridge had agreed to reduce its borrowing base from $900 million to $500 million. According to data compiled by Bloomberg, Sandridge has so far withdrawn $235 million out of the initially authorized $900 million.
JAMES D. BENNETT
PRESIDENT AND CHIEF EXECUTIVE OFFICER
Mr. Bennett was promoted to Chief Executive Officer and President in June 2013. Prior to that he served as President and Chief Financial Officer since March 2013 and Executive Vice President and Chief Financial Officer since January 2011. From 2010 until he joined the Company, he was Managing Director for White Deer Energy, a private equity fund focused on the exploration and production, oilfield service and equipment, and midstream sectors of the oil and gas industry. From 2006 to December 2009, Mr. Bennett was employed by GSO Capital Partners L.P. where he served in various capacities, including as its Managing Director. Mr. Bennett graduated with a Bachelor of Business Administration degree with a major in Finance from Texas Tech University in 1993. Mr. Bennett has served on the board of directors of the general partner of Cheniere Energy Partners L.P. and PostRock Energy Corporation... (Appears to be a bean counter)