OTC pink sheet listing? That does kind of smell? The ethics of private equity in some of these recent energy chpt 11 is sad. Of course, in several energy chpt 11 cases recently - the sec has stepped in with some oversight...
Memorial Production Partners L NASDAQ $MEMP Correlation Histogram
X axis : Stocks Price Correlation Coefficient Y axis : Quantity of stocks Sep-2016 1,000 Day Parameter 2,830 NASDAQ Stocks Price Analysis This stock mode of correlation coefficient is 0.1 In other words, the correlation coefficient of the other stock
Checked with ir to see if there was an update about otc listing. They still say by end of June and hopefully, sooner. They obviously did not want any trading in the stock shortly after emergence from bk. What a bunch of self serving aholes.
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The 10-Q says Amplified stock was approved for listing on nasdaq but the listing request was withdrawn when the big note holders wanted it traded otc. Do they want to make it more difficult for small stockholders to sell? Maybe they do not want small trades to establish a market price. Puzzling!
Just got the cash payment for my bonds @ 22.3781 per bond and 22.25 shares of Amplified per bond. I sure don't think the bondholders took advantage of the equity. The new Amplified stock will have to trade @ 43.94 per share to get the bonds value back to par. I see from the filings that mgt got retention compensation, change of control protection and other benefits. I am so pleased with this great mgt team and bod that take such good care of folks that should be pounding pavement looking for a job!!
fidelity shows my new shares @ almost $2000.00 a share....anyone?
Final word. Pfd & common had no value and bonds value less than half of face amt. The big bad bond holder gave a bone to the equity holders to expedite their own losses. Everyone got screwed!!!
Do we lose all our shares now? I went from 500 to 14. It is showing up as 0
what's the reason for the sudden jump back to 0.15???
May 4, 2017 Memorial Production Partners Successfully Completes Financial Restructuring Emerges from Chapter 11 as Amplify Energy Engages Jefferies LLC in Strategic Alternatives Process
Following the completion of the financial restructuring, the Company will have 25 million shares of its common stock outstanding. As previously announced, the Company informed NASDAQ that it does not intend for the shares of Amplify Energy to be listed on NASDAQ. The Company is in the process of registering for its shares to be traded and quoted on the OTCQX or OTCQB market (which are operated by OTC Markets Group, Inc.). The OTCQX and OTCQB markets are interdealer quotation systems providing real time quotation services, each of which the Company believes constitutes an "established securities market" within the meaning of the Foreign Investment in Real Property Tax Act of 1980 ("FIRPTA"). The Company expects the new listing to go effective during the second quarter of 2017.
When can we expect class action suits to follow?
Honest question here - What happens to unit holders in this case? I am not familiar with bk plays.
EXCO Resources sold all of its acreage and production in Zavala and Dimmit Counties for $300 million.
The assets sold had a year-end 2016 PV-10 valuation of only $123 million. The assets sold at 2.44 times their PV-10 valuation.
hi! i'm going to gamble with a large unit purchase....is now the time or any suggestions?
Bond quote is down to 35.5 bid and 38 ask. So the smart? money does not think the bonds are getting such a good deal. We will soon find out if there is a lot more value than the bk plan indicated. I think not, so I made a bad decision not selling my bonds in the high 40s. Sometimes when you buy junk you end up in the junk yard.
Confirmation hearing plan today April 14, 2017. My take on the plan: Equity gets 2% of new common which is 500,000 shares or 1 new share for 167.5 old shares. 8% of equity In warrants and a share in equity settlement cash of $1,250,000.
The plan is approved. Anyone have any idea about time frame for implementation?
A dealer bought 1mm++ bonds @ 38 from a customer yesterday. Smart money still sees no value in common or pfds. I can not believe the big bond holders don't have the where with all to make a good guess about the value of the bonds. Lots of money to be made with the bonds if the common & pfds have any value at all.
Confirmation hearing date will be continued on April 14, 2017.