Post by
ariesleaf on Apr 23, 2020 10:50am
NO NEWS FOR SHAREHOLDERS
We are not mentioned in this news report or any other. this is not a takeover or buyout just a asset sell. No $2 dollars at all. We have no vote on this at all. After June shareholders will be told what they get if anything at all. Like I said from the first day over 15 years of owing this stock like going down a hill and never comig up.Will stand to lose big time.
CLASS ACTION SHOULD BE STARED ASAP.
Comment by
IamFloored on Apr 23, 2020 10:59am
We are not mentioned because they are buying the assets of a bankruptsy sale - the common shareholder is last in line for monies. It is the zero return bankruptsy policy. I should of known when the guy with the bow tie was flipping through heavy paper looking up his companies, instead of being automated, that was a sign of exit stage left.
Comment by
stockstarker on Apr 23, 2020 11:10am
They were in bankruptcy protection, they were not bankrupt, we will have to wait and see if there is anything left for shareholders.
Comment by
Chris007 on Apr 23, 2020 11:20am
Wasn't net debt $375 mill in their last financial statement, even after the big dilution? If they're getting $87 mill, I don't see equity holders getting anything. Even some creditors are taking a haircut
Comment by
mlcb2525 on Apr 23, 2020 11:22am
There will be nothing left after the vultures (lawyers, accountants, CEO retention bonuses, etc), the only other winner will be the acquiring company. There timing was great, pipeline finally in the works, shale in Texas going belly up (which producers a lot of excess gas) & liquidity relieft, etc. Too bad this company could not have made it through 1 more year.
Comment by
1condor on Apr 23, 2020 11:31am
Assume you will get nothing for your BXE shares. If you get some scraps through this process then consider yourself lucky.