Big Banc Split Corp T.BNK

ridiculous but par for the course

[uograd]

That $20,000,000 usd should have already been turned over to Banker's for the delays we have already experienced

Now to say if the deal is not approved in 60 days, they will Banker's the dough is a farce.

Getting these Chinese deals to the finish line is just an excruciating process.  This deal will probably close but this is dead money for money for the next month or two with no real guarantee the deal will close.

[QUANTUMJUMP]

Or it could close in 9 days

[1condor]

No doubt this news will hurt the stock on Tuesday. I still think through August the stock will settle back in the 1.90 to 2.00 range until the process is complete. I have no idea what BNK will trade for if the deal falls through.

[ImFineThanks]

Huh? I'm taking this as good news. No one thought SAFE approval would come before the end of July... that's why the price dropped under two. Now that there's a guaranteed 20M if the deal doesn't close... why would that be bad? Geo Jade could have walked away without paying a cent but they are showing that they want to do this deal.

[ChupacabraBueno]

Yes, it is very good news. I'm not sure what more we could have hoped for. Yesterday the best case scenario was that the deal was just delayed. Today the scenario IS that the deal is just delayed. -GLTA!

[MoatsInvestment]

I have to disagree. It is half good. Real long need to steadfast, traders + algos will try to beat the stock hard. We may see 2.03 then low 1.80s (perhaps high 1.70s) before settling higher again.

[RockLobster1]

Can't see how this is bad news and we go to 180 s... It dropped due to the deadline about to be missed and Jade might pull out. Now that is settled... I think that's why we had a strong close Friday. I think we stay over $2 next week...  Safe approval can come any day or never but at least we know Jade wants this deal and ready to risk $20 m on it. I get a big margin call every time

[JLoonieK]

 I laughed out loud when I read the comments that interpreted this announcement as negative or, at best, neutral.  One of the fears that has been brought up repeatedly was the risk of Geo-Jade walking from the deal.  They were given an out and, instead, doubled down by taking more risk on their side (lack of SAFE approval now costs them $20mm).  Yes, there is still risk on the

[braincloud]

Loonie, that is as good an explanation as one could give. The announcement suggests to me that Geo has the funds in place . There's nothing to suggest that the deal is in jeopardy because of a failed funding attempt. If it's just a matter of 30-60 days ( or less) I expect that the SP will stay firm. 

[bmeister2]

Oh man,moats,I hope you are right if it drops to the high 1.70's as I will load a lot more to take advantage of the 2.20 offered. Where else could I get a virtual 40 cents a share profit on a small cap oil stock in less than 2 months, perhaps in 2 weeks,who knows. Glta

[MoatsInvestment]

bmeister2, i will do the same. There no doubt about the deal going thru. It is less likely to hit high 1.70s. It may oscillate around 1.95/2.05 or so. I will increase my holding if it goes down anyway.

[MoatsInvestment]

i called this price pattern on 7/31. Now, I just hope the deal goes thru. GLTU.