Tuscany International Drilling Inc T.TID

Plan

[onthecase]

First, thanks to all who have messaged me with your contact info and offers to be fellow soldiers in this operation. To update you, I sent the letter 1 hour ago to the email address I was able to dig up, seems to be the judge's chambers address. I will contact the court mid-morning tomorrow. We seem to have a little time now; if I'm reading the schedule right, proceedings don't resume until March 3. Doesn't mean things aren't in motion between now and then, but lets us know the court's official pace, anyway.

The letter is one step, but by no means needs to be our only step. Rather than wait for a reply from the court, I think it might serve us to have our next action prepared and waiting. Namely, assembling a list of companies and contacts within those companies to approach with news of a bidding opportunity. To make this work, we'll need some idea of the specific assets up for bid, and a particular web portal or registration process to which we may steer them to get them involved. These assets are valuable and going cheap, so we're not talking about any type of sales job. We point these horses toward the water, they'll want to drink up. Only hurdle is that no such bid process exists at present, and TID is likely to be resistant to setting one up. The letter to the judge may help force their hand. Making clear that we are willing to inspect daily for compliance will do the rest.

Let's keep in mind that the whole plan that we fear depends upon the presence of only insider bidders agreeing to place penny-on-the-dollar bids. As soon as we put outside bidders in the room, that plan falls apart and creditors are reduced to merely overstating their claims, a weak weapon.

Especially with us inspecting the list of creditors. Walter really needs to come off there and go back to being a shareholder, not suddenly a creditor. His wife, too.

To answer some questions: pennywyse2, bless you for the class action post. I'd say let's hold off for now, pending response of the court and how quickly we can get the bidding system up and running. Also because we will probably be approached by multiple lawyers in the time ahead, and I'd rather they come to us than vice versa. More favorable fees/contingency percentage that way. These sorts of suits are a thriving industry, and law firms trawl bankruptcy courts for these issues constantly.

sailpgd, glad you're close to the scene, and I have your info. With luck, won't be necessary to go there. If it is, we'll make good and sure ahead of time that your efforts are well targeted and time well spent. Thank you in advance for your willingness to put boots on the ground.

RonJadler, glad you're back in the house, we need you. Copy of my letter was in previous post, copy I sent was 98% identical. This interface is horrid, or I'd repost it. Also, my posts are gawd awful long as it is.

Conf call is a good idea, let's wait until we have court feedback and bidder info assembled so we have hard data to discuss. We can use the call to target where we're steering the company's asset dispositions.

I'm pursuing a few other avenues, will advise if/when they bear fruit.

So, the immediate step: we need to assemble a list of competitors and anyone else in the market for this equipment. And we need emails within those companies. Post them here, I'll go ahead and compile them. I'll also draft a letter to these entities. When we hear back from the court or TID, we'll have this weapon loaded and in the holster.

[justsomeguytrading]

Here as well and interested 500k shares. Not sure I can make the call, but I will email contact info. Simmons Edeco was another potential buyer.  What about the big guys like Halliburton etc? Onthcecase and everyone else - thanks  

[rivergreen]

I'm in, I have 150,000 shares