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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (51330)	4/17/2013 11:40:47 AM
From: hoyasaxa	Respond to of 78470

Appreciate the comments and insights gents (as always). Best, HoyaSaxa

To: E_K_S who wrote (51330)	4/17/2013 9:20:00 PM
From: Spekulatius	1 Recommendation Read Replies (1) \| Respond to of 78470

>>I think that is what is now in question; their stated "reserves". Auditor would not sign off on that and some other issues<< Without audited financials, nobody knows what the reserves are worth. E&P's are required to include a report of the proved reserves with their 10-K plus reserves are what the lending in MHR's case are based on. Without audited financials, this company will come down very quickly. Also, consider this:the protection of a preferred is that are below the preferred, so issuing more common (=dilute shareholders) is good for the preferred. As things stand , I don't think they could do a secondary at any price, because the underwrite could be liable if the financials in the prospectus are false. hat is why I was joking about the CFO golf game about the recent press release, because that information is completely irrelevant at this point. All that matters are audited financials, they need to deliver them, or else.