SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Jim Bishop who wrote (15342)12/1/1999 11:11:00 AM
From: paper man  Read Replies (1) of 150070
 
Jim Bishop. Yes, I know all you would like to know about JTAN. It is a shell, facing delisting unless they move to avoid, has no active business and about a $50 million tax loss carryover. They got their ass kicked in the market place more than a year ago and liquidated earlier this year.

The shell is owned by Rice Partners II, Houston TX, they are an investment banking group with about a billion under managemnet in 22+ companies,of which Jotan was one public company.

Rice is Junior debt company that stepped out to a Senior debt aquisition and got their ass kicked by JTAN's two private competitors. Rice Partners hold about 60 million shares from the Senior Sub debt and have no active business in the shell, just holding a huge tax loss carryover.

Personally, I lost $130,000.00 more than a year ago as they were one hell of a good combined company from the aquisition of Southland Packaging in Dec. 96. By Feb. 98, the company was treading water and finally had to liquidate. Bank Paribas was in for $25 million and I am sure they will or did get paid.

Rice Partners II would be smart to keep the shell reporting, and or use the shell for some benefit. Frankly,I have not stayed in contact the past 12 months as I was close to a shareholder lawsuit against them, but never filed.

I held up to 4% of the company before they went down.

Good luck
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News