Does the OSC exist anymore?
10 replies (most recent on top)
Look how much easier it is read the Stockholders’ Equity section of the CHK Balance Sheet after a Couple hundred million dollars’ worth of Kirkland financial savy and magic! The value of the stock is a nice, manageable number: 0.00. OOOOHHHH they are charming people!!
Three Months Ended
September 30,
Nine Months Ended September 30,
2020 2019 2020 2019
($ in millions)
PREFERRED STOCK:
Balance, beginning of period $ 1,631 $ 1,671 1,631 $ 1,671
Exchange of 0, 40,000, 0, and 40,000 shares of preferred stock for common stock — (40 ) — (40 )
Balance, end of period 1,631 1,631 1,631 1,631
COMMON STOCK:(a)
Balance, beginning of period — — — —
Common shares issued for WildHorse
Merger — — — —
Balance, end of period — — — —
CHK ran its con and stayed in business by following 4 rules: (i) never follow the rules; (ii) never pay in cash; (iii) always demand payment in cash; and (iv) never tell the truth.
Kirkland didn’t invent the con but they raised it to an art form. Kirkland’s end must be large as they played a large role in the con. They worked the fraud honest!
Does anybody know the number of Shale Explorers who ended up in bankruptcy after being the beneficiaries of Kirkland's profound insight and skills in the Patch? Does anybody know how much money Kirkland was paid for destroying an entire industry with incompetence?
Yeah but look at the results of all of Kirkland and Ellis' planning 😊: On June 29, 2020, our common stock was suspended from trading on the New York Stock Exchange (the “NYSE”). On June 30, 2020, our common stock began trading on the OTC Pink Marketplace maintained by the OTC Markets Group, Inc. under the symbol “CHKAQ.” On July 20, 2020, the NYSE filed a Form 25 delisting our common stock, senior notes and cumulative convertible preferred stock from trading on the NYSE, which delisting became effective 10 days after the filing of the Form 25. In accordance with Rule 12d2-2 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the de-registration of our common stock, senior notes and cumulative convertible preferred stock under Section 12(b) of the Exchange Act will become effective 90 days from the date of the Form 25 filing.
If you think they are wasting money here—how much are they paying in fees for the bankruptcy. I just saw a proposed order filed by Kirkland and Ellis on the Whiting Petroleum bankruptcy. Kirkland billed 11 million dollars for work during the period from April 2020 to August 2020. Kirkland is responsible for ginning up the garbage too—which they made millions from. The cost of the CHK bankruptcy has to be multiples of Whiting's. It's all so seedy. What dirtbags!
Way to stroke your ego!
The COC works long and hard hours!
The COC is still at Chesapeake as well. Chesapeake Operations Center. They should contract that out. From what I heard they don’t do anything down there but sit around and answer a couple of calls.
The g & a for that place is just outrageous, surprised the beekeeper and weatherman are even gone
Yes...why