RE: SoWishful thinking. The new owner of Altima is H&M Chamber Energy LLC, whoever that is. Whatever money they have left over after the original Ionic note repayment should go to paying the 12% note that is due to H&M monthly. Once that is gone where are they going to raise the money? Personality/Management conflicts aside, the track record and $4.00 gas reality makes any kind of honest PP offering an impossability. The property they own is good, but the current SP is a testament to how good, no one is "over-looking the upside" at .04 and manipulating Altima lower so they can buy in at the "right" price. It is .04, where are we looking to go?
Tried to find something on the H&M lender, mostly because of the Chambers reference, but couldn't find anything on who this is. It would be interesting to know.
Even after all the losses I would buy this company in three seconds at .04 if I thought there was an upside in a reasonable sort of time frame. I think that there will be some consolidations of companies like Altima by financiers who can hold an asset that costs nothing to store until the price of gas comes back but in all fairness, unless there is war, the reality is gas is going to be at these levels for a long time. The supply is great and getting greater and the demand is small, simple fundamentals.
Too bad, I am going to put my warrants in the bottom of the litter box. I will watch with interest as this one goes down, need to learn what to look for next time and might as well get paid back by Altima in experience.
Kenbull