Owning CYTX kind of reminding me of trying to figure out where the drunk is heading. There is no fixed routine of which foot is heading at which direction and at whatever time he is pleased. The best guess is the random number generator or rolling the dices. Have held this for some time and got lots more before the announced deal. It is only because I think the drunk will be sober soon or later. A new year resolution for CYTX to stay sober is in place? Do anyone know what is cooking?
BK allows company to reorganize but does not necessarily auction off the company. What do you mean by go to the highest bidder? The only loser will be the creditors and share holders who might get 10 cents or less on the dollar. The creditor forced the company to go BK that they may get the principle without interest if they are lucky or have good lawyers. The downside is the court may allow the company to issue millions of shares or cancel the old shares in exchange of new issued share to pay off the debt. Share holders therefore may get new shares for 1/10 or less of value. One good thing coming out of this BK is to get rid of Ji and his associates. JI and his gang actually sold many pre-IPO shares to local Chinese promised to get huge returns but failed to honor it. The locals lost every penny they invested in the company. There were some large protests and law sues in Shanghai area for years. There was a Bloomberg article on this but I lost the reference. Never heard any results from that. It is what Chinese laws is about. Keep the fingers crossed.
If the company does not fold, I am actually pretty positive with the potential of their LNG business and their task in converting all Yangtze river vehicles into LNG. The company got good vision and business plans but unfortunately was run by a typical bandits or corrupt ex-officers from Shanxi province.
wow, couldn't believe it happened. But CYTX was under close watch for a while a few years back because of some illegal activities. The close monitor continued on for about a year. It was not allowed to be traded on line and could only be executed by the broker. I , however, want to be patient on this stock because it has too many positives going for it.
It wasn't me. I changed my mind after seeing the ugly drops. I have moved it down to 0.15 instead. The BK bad news looks more likely now. BK reorganization never is pretty and only share holders get screwed. I may moved it down to less than 0.1 if it goes below 0.20. Hope I 'm wrong and never get it.