Friday, June 16, 2017

Request to Continue the Stay

The parties therefore request that all deadlines in the above-captioned appeals continue to be stayed until August 3, 2017 , . .

See Here

SkunK

5 comments:

nobody123789 said...

We have to continually remind ourselves that C&C/KK hold most of the cards that will turn to gold if/when the appeal is adjudicated. Yet, the timing of that is likely a year (or more) from the date there are no longer any stays. C&C in particular cannot wait forever. They are pouring resources into this from their corporate treasury and will not get a dime until the settlement is completed or the adjudication is finalized. In other words, "waiting" is only in their interest if a settlement is likely; "waiting" just for the purpose of talking only puts off for another year what they need to happen.

We must conclude that the negotiations are serious, productive, and likely to yield an outcome "close " to what could be gained a year from now -- otherwise why spend more time accomplishing nothing. They would have started the appeal clock today if this was not the case.



nobody123789 said...

I think many of the Gerslanders who reluctantly hedged before yesterdays' filing will soon sell. Many are very fragile based on year's of experience and are frightened of more (massive) dilution which they believe this stay will precipitate. In addition, there are those that expected a quick jump Monday which will not happen and they will not wait around to see this out; they will be on to other pastures. Others will attempt to game this -- take advantage of what they believe is a certain large drop in PPS to buy a larger number of shares later, nearer the August 3rd date.

Consider several issues as you determine your strategy. There has been no evidence of major dilution (dumping) since April 5th which was more than than 10 weeks ago; how has KK been paying the bills since then without minting shares? All of the money owed C&C speaks volumes about the likelihood of a successful mediation in lieu of proceeding with the virtual certain outcome in the appeal. And to stimulate your imagination -- What do May 19th and June 16th have in common that does not apply to August 3rd and why may this difference be important? In other words, Gerslanders selling now may be a game of Russian Roulette not gaming the market.

nobody123789 said...

We will be checking with the Federal Circuit Clerk of Court every ten days or so; just in case there is an important filing for a settlement. I do not think that will happen as the date August 3 is a Thursday and does not appear to be chosen at random, as it is unlike the other requested stay dates that landed on Fridays.

That said, "keep your powder dry" as they say, the weak-hearted, and the weak hands look as if they will provide a very nice buying opportunity prior to that date.

My concern is that KK has been forking over shares to the minority debt holders (we would not know this as there have been no 10Q or 10K filings). If this has occurred and they lose patience we could see more than a "buying opportunity" but a wholesale washout that would not be good -- that could precipitate sentiment that another R/S is coming.

BillV said...

I wonder if Aug 3 was purposely set to coincide with Q2 filings.

nobody123789 said...

Don't they have to also file the 10K and 10Q1 to get the OTC "Stop Sign" off their backs? The lack of filings maybe for a good reason but until they clear up their delinquencies don't they run the risk of being de-listed?

 
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