Chapter 11

2 days ago

BREAKING: Bushveld Minerals, sack the board GM called, too little too late

Yesterday Bushveld Minerals (BMN) put itself into the South African equivalent of Chapter 11. The day before its shares were suspended pending clarification. Stevie Wonder can see that shareholders will get nowt and that the company is well and truly fecked. But some folks are always optimistic. Step forward activist investor Kamran Sattar

504 days ago

Cineworld fesses to investors what it told staff two weeks ago, administration soon, share suspension "shortly"

To be fair, Cineworld (CINE) has explicitly warned the fools who still own its shares that as part of the Chapter 11 process they are going to lose everything. None the less, flagging up to staff as we revealed HERE, some two weeks before you tell investors that the PLC is going into administration seems a bit naughty to me. But today came the formal fess.

586 days ago

Cineworld – a third warning that its shares are worth nothing at all yet there are still buyers

There is another update on Cineworld’s (CINE) debt for equity swap and its hopes of emerging from Chapter 11. I wonder what sort of moron is buying the shares today, for some morons are buying.

592 days ago

Cineworld Chapter 11 update, again confirms shares worth 0p – just who is buying?

This website has been warning folks that shares in Cineworld (CINE) were worthless for far longer than I can remember. But today, for the second time, Cineworld itself has explicitly stated the same. The shares are down by 24% on the news at 2.2p but that still values the company at £31 million. Out there in Moron land, some folks really still are buying the shares. Maybe they are chartists or followers of Doc Holliday. I don’t know. Words fail me. Anyhow CEO Mooky Greidinger seems happy. Screw the plebs.

675 days ago

Cineworld saves the best until the end – its shares really are toast

Maybe it is a New Year’s Resolution? Cineworld (CINE) appears to to have turned over a new leaf and is, via RNS, now giving some commentary on how its equity is slowly being destroyed completely via the Chapter 11 process that kicked off on September 7.

692 days ago

When you bank is trouble you are really screwed – yes its Argo Blockchain again

We still have no statement from Argo Blockchain (ARB) regarding its share suspension on Friday and a possible Chapter 11 filing. But if you think Argo has problems ( it does it is bust) have a look at its main bank, NYDIG, the company’s primary secured lender.

736 days ago

BREAKING: Another Cineworld Court Hearing spells out exactly why it is a slam dunk zero

Still there are fools who think that Cineworld (CINE) shares have value. They do not. This looks like a slam dunk zero after documents published late last night in the latest round US Chapter 11 hearings. What follows is an idiots guide as to why any holders should sell and anyone who wants a free Christmas bonus should add to/open a short at 6p. Here goes:

795 days ago

Cineworld – this man should be in jail

AFTER the company announced that it was going into Chapter 11, Damian From Northern Ireland posted the video below urging folks to buy shares in Cineworld (CINE). Damian you should be in jail. For what he says is selective, quoting from the RNS about how deleveraging will strengthen the balance sheet etc, etc. But neglecting to mention the explicit warning that equity holders will be more or less wiped out. Unbelievably……

795 days ago

BREAKING – Cineworld files for Chapter 11 and the shares soar, how insane is that?

Cineworld (CINE) has shocked nobody with half a brain or more by putting its US assets into Chapter 11 ahead of a “restructuring process”. Amazingly morons see this as good news! The shares were 25% ahead shortly after the RNS arrived. but are still 13% up at 4.4p. Madness. Cineworld is explicit about what is going on, stating:

2313 days ago

Folli Follie… Some people are on the pitch, they think it’s all over….it is now! (Almost)

It seems like just yesterday that burly security guards tried to grab my camera forcing me to flee as I tried to doorstep the 1 billion Euro fraud Folli Follie at its North of Athens HQ. Since then the shares have been suspended, a criminal enquiry began, the former auditors have admitted that 2017 accounts were pure fiction and now… Folli has put itself into the Greek equivalent of Chapter 11.