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CARBO Ceramics Inc. (CR8.F)

Frankfurt - Frankfurt Delayed price. Currency in EUR
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0.25000.0000 (0.00%)
At close: 8:05AM CET
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  • O
    Olu
    News out for CVIA about restructuring of existing loans and agreement of termination of railcars and fixed cost there. I dont see why CRR can't get the same deal with terminating the long term lease for rail cars and distribution cost it had associated with Wisconsin Sand plant. I expected some update next week. Only time will tell.
  • j
    jim-bo-bo
    Docket 51

    March 31, 2020
    Judge Marvin Isgur
    United States District & Bankruptcy Court
    Southern District of Texas
    515 Rusk
    Houston, TX 77002
    Dear Judge Isgur:
    Hope all is well. I am writing a witness impact statement to make you aware that Carbo Ceramics Inc.
    Case # 20-31973 is being done unjustifiably to the detriment of their common shareholders & to the benefit of
    Wilks Brothers LLC. Carbo Cermaics I believe intentionally refused to put the company up for sale so the
    Wilks Brothers LLC could acquire the company on the cheap & with no bidding competition. If you would
    please take into consideration or inquire with Carbo Ceramics why they never tried selling company on the
    open market I would be appreciative. I’m just a small time investor that feels like I got taken advantage of so
    insiders & the biggest shareholder Wilks Brothers LLC could benefit. You’re my last hope to prevent
    bankruptcy from getting approved & make sure justice prevails. The reason Carbo Ceramics is doing this
    voluntarily is so they can keep their jobs & down the road take the company public again & Wilks Brothers
    LLC will unjustifiably profit because their currently getting the company by design on the cheap with no
    competition regarding offers from interested companies or buyers. I’m hopeful you will consider my evidence I
    provided & come to a conclusion with a just outcome by not approving bankruptcy & forcing Carbo Ceramics
    to solicit offers for the company. Please let me know if you need any additional information & thanks for your
    consideration. I can best be reached above or at www.am-capital.com Thanks again for reviewing
    information.
    Sincerely,
    Aaron Miller
  • J
    Joe
    @Buylo is it Yahoo, or are you deleting your posts? I read the wsj article you mentioned. It seems to me, the crr sales team should be addressing the production loss directly with the frackers. But no one wants to touch a (potential) going concern, so crr is doing nothing but sitting on their hands and waiting.
  • A
    A
    So ... strategy is wilks using at arex in place with crr? Force chpt 11 not on insolvency but on a debt covenant for arex it was a debt ratio and crr going concern .. in process make sure mgt doesn’t market company for complete sell or merge and then play the chpt 11 game? Read paste below on arex - does letter have any fact or is it fiction?
  • J
    James
    Short is 59% of float? wow have not seen thatsince that wood flooring company. What is intrinsic value where one might get in and ride a short squeeze?
  • D
    Dwallstreet
    Some food for thought if you bought 50k worth of this stock 5 yrs ago at $32.78 a share and bought another 50k worth at .23 a share you would have a cost basis of .456 meaning you would only need 22 cents to get back to even and at a dollar you would have a $118,000 return let’s enjoy the new year and make some money!!
  • O
    Olu
    Wilks agree to take over CRR through a debt to equity exchange in a voluntary bankruptcy...there it is ladies and Gents.. the writing on the wall....what happens to shareholders ...nothing.. they swap the whole company for 60 Mills wow....
  • J
    James
    For too long they depended on propant and should have diversified products. It's at the point now they have products and need volume on them. With the selling of some assets, new technology products, and refinancing of the debt it may happen and I hope it does, I have a good many shares. I'm sure companies have their eye on them for sure
  • J
    James
    To me it feels like a merger/acquisition. The last conference call said they had assets they plan to sell and had a lot of inbound calls that would create 20 to 40 million. They were going to be cutting cost by at least 20 percent. They released an 8k that said they had cash on hand to last a year. Now all of a sudden we haven't had a q4 call yet and its going to be merger/acquisition/bk.
  • O
    Olu
    anyone heard the good news. Wilks and Co waived any default or event of default that may arise to their initial credit agreement...
  • j
    jim-bo-bo
    I own 200,000 shares...is there a class action yet against board and CEO...really need to know
  • J
    Joe
    2019 Proxy Statement:
    "
    Our outreach meetings gave us the opportunity to engage our stockholders on the issues most important to them, as well as discuss our strategy and the industry dynamics we face. Specific matters discussed during these meetings included execution of our strategy, alignment of our executive compensation program with performance and board composition and governance. We heard constructive comments over the course of these conversations, in particular:

    1. Consider board governance matters
    2. Consider the appropriateness of executive pay
    3. Consider the appropriateness of long-term incentive (“LTI”) mix and design
    4. Consider executive stock ownership requirements
    "

    If there was an outreach for 2020, I missed it.
  • K
    Kenny
    why are people talking about bancruptycy...?..... the debt to equity ratio is not that bad
  • B
    Brian
    Time to BUY. 2H of 2018 will be solid along with significant growth in 2019. I see this as a $20 stock going into 2019...a double from here.
  • J
    James
    They have an industrial sales representative job listed on carbos website.
  • R
    RX
    The latest 10-Q posted on SEC (https://www.sec.gov/Archives/edgar/data/1009672/000156459019012936/crr-10q_20190331.htm#ITEM_1__FINANCIAL_STATEMENTS) shows that total shareholders' equity (total assets - total liabilities) ended by March 31, 2019 is $320,096,000 ($320M). The balance sheet is far from bankrupt!
    crr-10q_20190331.htm
    www.sec.gov
  • J
    JohnG
    Starting to look familiar?
    10/28/16=CRR @ 6.20...02/10/17=CRR @ 16.28
    10/26/17=CRR @ 6.60...02/10/18=?
    Very similar action as last year but with better outlook on future.
  • A
    A
    Share volume dried up look at trading in terms dollars of crr volume. No reaction in market to 8k on wilks new position on debt? Why? Does it not matter.. crr mgt will continue to burn 10m in cash .. cannot turn company around?
  • A
    A
    Thanks for posting - keep updating. I did not read all of docket 440.. long filing but basically current debt does not have proper lien on all crr assets. Wilks and mgt trying best to cram this thing before economy rebounds and so far the $$ and lawyers plan working. If this docket 440 filing successful — could the delay open up something? At current price level amount of money to clear 100% of crr debt - why has no outsider placed bid? Would Crr assets be great addition to coors family ceramics business? Or others? On self interest and greed - I understand wilks/crr mgt current plan. Will it work? However, If assets really are wrote down way way too much - why has not another big player entered? In the end judge is in 100% control right now? The assets are open to any party with much better offer? Is The hard part - bidding on assets when a mgt does want an outside party to do due diligence ?? Or a court that will not allow assets to be reviewed or open for proper due diligence? Is the American chpt 11 system abused or broken? Do you all realize in many industrialized nations first order in a bankruptcy for company is a law requires judge to install new receiver management. Not in USA. How many USA chpt 11 would such a law avoid in USA? Such a law would prevent mgt from shifting fiduciary from equity to debt months before filing which is what happens. Thus, such a law would push a mgt team to maximize total asset values and chpt 11 last resort vs getting into bed with debt then filing chpt 11?
  • J
    Joe
    This was in the cards, was in the tea leaves, we saw this one coming. Ch 11 was likely, but then again so was M&A. There are many potential candidates to offer a fair price for this company. Active Minerals (aka Golden Gate Capital), Alpine Energy (Sam Zell), Berkshire, Imerys, BASF - all have something to gain to add to their portfolio. $60m would hardly buy the land - not factoring in the mineral rights, machinery, structures, equipment, intellectual property, furniture and office supplies on top of it! I fear, it is now up to us to find the intrinsic value now.