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Mesa Cnx Note Holders Agreement

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In response to a recent regulatory inquiry regarding such exchange agreements, the Company has advised each of the parties to these agreements of its intent to rescind the same...No assurances can be given that the Company will be able to enter into agreements with such holders on terms similar to the previously announced exchange agreements or at all,
Sounds like JO's got some splain' to do the Fed's and the Note holders.
 
Dimensional Fund Advisors (DFA)LP filed doucments today that it hold over 5% of Mesa now. This may be a bad omen:

So committed is DFA to passive investing that it hangs stock certificates of bankrupt companies it has ended up owning on the wall of a trading floor break room. When reporters call about any of the 500 companies in which the firm shows up as a 5 percent or greater shareholder, Wellington pleads ignorance.


 
so could this mean that there is an investor who will be footing the bill so now they can pay with cash???

no idea how would be crazy enough to do that, but i've seen worse....

sl
 
so could this mean that there is an investor who will be footing the bill so now they can pay with cash???

no idea how would be crazy enough to do that, but i've seen worse....

sl

It could also mean that OJ ran afoul (again) of the SEC...there is a hint of that in the press release.
 
Prediction:

I think this is the "big one" as Fred Sanford would say....

I think these guys are going "BK" as General Lee would term the situation PDQ. These "convertible notes" are a form of security in which the holder is compensated by means of future stock shares, as well as interest-in many cases.

The only reason I can think that Mesa would be cancelling these things is that they are about to hit "BK" and the notes will be unavailable for conversion due to the stock becoming worthless.

There could be an alternate explanation, but I can't think of anything which would make sense given the poor condition of Mesa's finances!

DIE MESA DIE!!!!!!!
 

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