RE:roger1234, CCAbbott888, others...balain wrote: For those longs who sold their position on the refinancing news, monday morning 15 Apr 2019, will their be any recourse if the "hardship" request is rejected?
I was in for 20 years and 2 weeks when the devastating news came out of the left field, at which point, I could not afford to lose it all to a possible $0.015 SP finish. I had to sell.
Of course, we all think this hardship is fabricated, but the share ownership has already shifted hands, and for what I can tell, this organized move may have already placed my shares in the hands of an organization/fund in the know. In other words, if rejected, Thomvest and friends have still increased their ownership dramatically via this "hardship" news release.
What will be my options if this hardship request is denied? Have I lost my shares forever because I sold, sold on fabricated news to create panic and mass exodus by existing longs?
Thank you very much.
BIG thank you to roger1234, CCAbbott888 and others for their research and outstanding work in fighting this fraudulent maneuver from Thomvest, BOD, and PLI management. The hardship claim made zero sense from the get go and I for one, would have came up with something totally better. I also have a spine and wouldn't have been handled like a puppet that our BOD and management is made of. No wonder MS Sorensen left the board on MArch 31st...
Watching closely as this story has been my life. I also contributed by filing complaints to various organization.
balain For those who have closed their position, like you and myself, the option forwards will largely depend on whether or not each person decides to take part in this company's future as a retail investor, imo. For each investor, they need to make their own decision by their own criteria.
Some may see it as a new opportunity, worth of the risk involved.
Some may need more clarity, e.g. if the refinancing plan is approved or rejected by the security authority this week; if rejected, what the alternate (presumably fairer to all shareholders) plan is to ensure the company can continue (have a future), before they can decide (i.e. to be an long again or to move on).
For others, like myself, based on my own criteria, I no longer wish to be an investor in Prometic in the near to medium term, regardless the outcome of the current re-financing/restructuing.
I hope that my thoughts may be of some help to you. I'm sorry for your loss and the disappointment/anguish you are now under (and possibly millions of other retailers who suffer the same).
All the best to you and other longs here, former, current or re-entry in the near term.