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Britannia Bulk Holdings Inc (CE)

Britannia Bulk Holdings Inc (CE) (BBLKF)

0.001
0.00
(0.00%)
Closed July 17 4:00PM

Professional-Grade Tools, for Individual Investors.

Key stats and details

Current Price
0.001
Bid
0.00
Ask
0.00
Volume
-
0.00 Day's Range 0.00
0.000001 52 Week Range 0.001
Previous Close
0.001
Open
-
Last Trade
Last Trade Time
Average Volume (3m)
-
Financial Volume
-
VWAP
-
PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10000000CS
40000000CS
120000000CS
26000.0010.0010.0018000.001CS
520.000999999001.0E-60.0011.0E-6297161.116E-5CS
156-0.004-800.0050.03431.0E-6150400.00239936CS
2600.000342.85714285710.00070.044751.0E-6248760.00958354CS

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BBLKF Discussion

View Posts
pj McMulligan pj McMulligan 7 years ago
Shippers going bigglies. BBLKF next2run?
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lamlam lamlam 11 years ago
I wish I knew. Im guessing it's dead. Im a bagholder like you but have no hopes of actually getting my investment back.
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stockgirly stockgirly 11 years ago
I have had this stock for some time. Does anyone know if it's dead or what is happening with it.

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lamlam lamlam 11 years ago
someone bought shares? No way!
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RonnieD RonnieD 11 years ago
umm, why did someone buy 20k shares today ?

::cue twilight zone::
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lamlam lamlam 12 years ago
I didnt think this one traded at all anymore!
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d_whick d_whick 12 years ago
whole 150 dollars traded wow lol
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lamlam lamlam 12 years ago
it looks like its got both feet in the grave... someone grab a shovel and throw some dirt on this thing.
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Buckey Buckey 13 years ago
I assume is it dead just not buried yet
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lamlam lamlam 13 years ago
Is this stock alive or is it totally dead? I have had stock in it for years. Is it over?
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Buckey Buckey 15 years ago
I never followed it just remember that this may have been the one IPO to CH 11 in 10 months because some doorknob was playingthe futures with the cash in treasury

HUM .13x.15 edit .13X.19 THE .15 ASK WAS ALL OF 10K OR $1500
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RonnieD RonnieD 15 years ago
never know if the Brits or Scandinavians will bring some bulk shipping assets back into this.. the structure is unchanged, the lawsuits were dismissed...
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Buckey Buckey 15 years ago
HUMmm I not even thatfar in the red here now at .11x.12. it was .03 last monday so is this the chicken running around with its head cut off just before it dies or a real move.

Even corpses twitch a bit. I will say one thing. There is zero mention of the stock here on IHUB

EDIT 3 MMs were at .12 ask now .12x.13 if I didnt own 50k I might buy more
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RonnieD RonnieD 15 years ago
someone's been accumulating
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RonnieD RonnieD 15 years ago
Shipper Wins Dismissal of Securities Fraud Claim
Monday, October 26, 2009

By JONATHAN PERLOW

(CN) - A federal judge in Manhattan largely dismissed a shareholder class action accusing Britannia Bulk Holdings of deceiving investors in statements about its initial public offering.
U.S. District Judge Denise Cote tossed the fraud claims against all defendants, which included Britannia, its CEO and CFO, and four underwriters. The only surviving claim is a "negligent conduct" charge against the two executives.
The company's June 2008 IPO was a financial success for the company and its underwriters. They raised $125 million by selling more than 8.3 million shares of common stock to investors for $15 per share.
By late October, the stock had dropped more than 98 percent to $0.27 per share after the company became insolvent.
Britannia Bulk is an international provider of dry-bulk shipping and logistics services, mainly in and out of the Baltic region.
Its profits soared to "historic levels" in early 2008 as demand for Russian coal and other raw materials increased the demand for dry-bulk transportation in the Baltic and Northern Europe.
It earned $300 million in the first three months of 2008, compared with $60 million over the same time period a year earlier.
The class claimed that the registration statement and prospectus contained misstatements and omissions, mostly surrounding its use of forward freight agreements (FFA). FFAs are contracts traded on the Baltic exchange in which shippers and ship owners hedge against the volatility of the ocean market. Parties use them to bet on the price of a particular freight-route on a particular day.
The lawsuit accused Britannia of failing to disclose that it used FFAs to guard against increases and not merely decreases, effectively putting a ceiling on potential gains.
Britannia was also accused of failing to enter into proper fixed-price contracts at a time when crude oil and bunker fuels were experiencing extreme fluctuation, and that it "engaged in speculative trading in FFAs ... to 'play the market.'"
The class maintained that the alleged "false and misleading" information was of considerable relevance to investors evaluating Britannia's business.
But Judge Cote ruled that the documents provided to shareholders "contain an abundance of cautionary language about Britannia's use of FFAs that Plaintiff simply ignores."
Also, the company's shareholder update was written in "straightforward" and "plain language" and was "entirely consistent with the Company's intervening SEC filings after the IPO," Cote wrote.
She ruled that the plaintiff's claim "does not withstand meaningful scrutiny."

http://www.courthousenews.com/2009/10/26/Shipper_Wins_Dismissal_of_Securities_Fraud_Claim.htm
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madswa madswa 15 years ago
Is anyone following BBLKF? Is this company filled for bankruptcy?
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wild2taz wild2taz 15 years ago
lol no thx i'm done with this one.. i made my profit and theres alot of other fish out there.. gl though
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svelastegui svelastegui 15 years ago
better load up again, we're climbing back up.
bought last year at 0.06 sold at .39, should have waited, rebought the the other day at .10 it's going to hit .40 next week. then i'll sell again. get on board
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wild2taz wild2taz 15 years ago
at 0.28 now.. wtf..
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wild2taz wild2taz 15 years ago
yea it will definitely go down tomorrow if it closes green today.. i don't know if i should get back in unless its at .02 again..
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RonnieD RonnieD 15 years ago
we will get another chance here.. i think.
probably just some shipping sector chasers.
i can't be worth much unless a lot changes and that will take time.
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wild2taz wild2taz 15 years ago
i sold all my shares at .10 since i averaged down big time and was waiting for 6 months for anything to happen lol.. now i'm regretting it.. shit
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RonnieD RonnieD 15 years ago
no, it's just been creeping up for a couple weeks from 02/03 range.

maybe the banks will attempt to bring it back now that they own it.
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wild2taz wild2taz 15 years ago
this has been trading in the .05-.1 range? wtf is going on lol
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was sheepdog was sheepdog 16 years ago
can't pick this up on TD
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RonnieD RonnieD 16 years ago
wow those subber buys are looking pretty darn smart !!

a hunger for paying .02 today !
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was sheepdog was sheepdog 16 years ago
It's back what da fuc is up with this thing...
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was sheepdog was sheepdog 16 years ago
Delisted off all exchanges...done.. finished!!
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was sheepdog was sheepdog 16 years ago
Not on pinks again
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RonnieD RonnieD 16 years ago
yea some buying today, lmao
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was sheepdog was sheepdog 16 years ago
Here we go
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was sheepdog was sheepdog 16 years ago
It didn't come up on the pinks yesterday but was on DWT weird now it's back on pinks.With some volume it may pop soon bid is up
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RonnieD RonnieD 16 years ago
what r u talking about ? it will never be DWT again..
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was sheepdog was sheepdog 16 years ago
it's back to DWT
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was sheepdog was sheepdog 16 years ago
it's getting time
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RonnieD RonnieD 16 years ago
your chance at subs.. depending on the spread...
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RonnieD RonnieD 16 years ago
heh, it went up today. what happens here is at 930 open you see a string of trades usually early.. that's because it's almost all Brits interested in this, and they are 5 hours ahead of us.
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was sheepdog was sheepdog 16 years ago
She's gonna bounce no question about it the bottom will come Love to grab it under a penny.
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RonnieD RonnieD 16 years ago
i do. but this has a British court of law proceeding over it. Also the string of lawsuits is only covering those who bought the IPO. Now those like me who bought some at .25.
It's a shell play at this point. 26 million shares. Only because the insolvency was 2 weeks ago, it will take time to materialize, depending.. because if the creditors like Lloyd's decide to reorg and stay in the freight business, you can wager they will toss us warrants at the very least.
And it's very possible this same equity can once again be in the dollars. What it will be then is unknown now.

The creditors also own this shell. They will use it.
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was sheepdog was sheepdog 16 years ago
You know your stuff
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RonnieD RonnieD 16 years ago
this equity will never see that.
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was sheepdog was sheepdog 16 years ago
oh she's going lower see ya at 1 cent
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RonnieD RonnieD 16 years ago
it won't go any lower, this is it. You shouldn't wait for lower. Who knows how long it will take to materialize
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was sheepdog was sheepdog 16 years ago
When this bottoms out she will bounce nicely
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RonnieD RonnieD 16 years ago
New Shareholders Class Action Lawsuit - Deadline expires on January 5, 2009
Class Action Lawsuit Against Britannia Bulk Holdings Inc. (NYSE:BBLKF ) Over Alleged Violations Of Securities Laws Filed

Shareholders Foundation, Inc., Mail@ShareholdersFoundation, www.ShareholdersFoundation.com
2008-11-06 22:27:03 - A shareholder of Britannia Bulk Holdings Inc (NYSE:BBLKF) filed a lawsuit on behalf of all persons or entities who acquired Britannia Bulk Holdings Inc. (NYSE:BBLKF) common stock pursuant or traceable to the Company's Registration Statement and Prospectus (collectively, the 'Registration Statement') issued in connection with its June 17, 2008 initial public offering ('IPO') over allegedly violating Federal Securities Laws.
http://www.pr-inside.com/class-action-lawsuit-against-britannia-bulk-r899906.htm

On Thursday, November 06, 2008, a shareholder of Britannia Bulk Holdings Inc (NYSE:BBLKF) filed a proposed class action lawsuit in the United States District Court for the Southern District of New York on behalf of all persons or entities who acquired Britannia Bulk Holdings Inc. (NYSE:BBLKF) common stock pursuant or traceable to the Company's Registration Statement and Prospectus (collectively, the
'Registration Statement') issued in connection with its June 17, 2008 initial public offering ('IPO') over allegedly violating Federal Securities Laws.
If you acquired Britannia Bulk Holdings Inc. ('Britannia Bulk') (NYSE:BBLKF) common stock pursuant or traceable to the Company's Registration Statement and Prospectus (collectively, the 'Registration Statement') issued in connection with its June 17, 2008 initial public offering ('IPO'), you have certain options and there are strict and short deadlines running. (January 5, 2009). You should contact the Shareholders Foundation, Inc. immediately! Email: Mail(at)ShareholdersFoundation.com or call us today: +1-(858)-779-1554. According to the complaint the plaintiff alleges that Britannia Bulk Holdings Inc. ('Britannia Bulk '; NYSE:BBLKF), certain of its officers and directors and its underwriters violated the Securities Act of 1933. Specifically the complaint alleges that on June 17, 2008, Britannia Bulk accomplished its IPO of 8.3 million shares at $15.00 per share for net proceeds of $116.2 million, pursuant to the Registration Statement and in its first day of trading, Britannia Bulk stock closed at $13.85 per share. But then, on October 28, 2008, Britannia Bulk issued a press release announcing that the Company expected a significant net loss for the third quarter of 2008 compared to the net income achieved during the second quarter of 2008 and the loss was due to problems with hedges Britannia Bulk had entered into earlier in the year, so the lawsuit. The stockholder alleges that in addition Britannia Bulk announced it would not pay a dividend on its common shares for the quarter ended September 30, 2008, or for the foreseeable future and as a result of these news Britannia Bulk's stock collapsed to $0.16 per share. In addition so the lawsuit, the following day Britannia Bulk disclosed that it had been notified by its lenders that they were accelerating all of its subsidiary's obligations under a $170 million lending facility and that this would ultimately result in the subsidiary being placed into administration under U.K. insolvency laws.
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was sheepdog was sheepdog 16 years ago
Looking for a penny or less on this one with volume and a bounce to 8 to 10 cents and then it will be done for good too bad for the people that got sucked into this one.
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RonnieD RonnieD 16 years ago
pretty much, it's a British stock so it's going to go according to their Insolvency law and not Chapter 11.
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t_b1209 t_b1209 16 years ago
So if this wasn't a foreign company it would have a Q on the end ?
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RonnieD RonnieD 16 years ago
Administrators called in to Britannia Bulk
Jamie Dale - Monday 3 November 2008

ADMINISTRATORS were called in on Friday to deal with Britannia Bulk Plc, which went into administration under the Insolvency Act 1986 of England and Wales.

Lloyd’s List understands that BDO Stoy Hayward has been appointed administrator for Britannia Bulk.

In a letter seen by Lloyd’s List, BDO Stoy Hayward advised those who had existing contract or charter obligations with Britannia to take “all necessary steps to mitigate any claims arising under your contract or charter with the company”.

On Friday the New York Stock Exchange said it had agreed that the company be de-listed. The NYSE had already suspended trading of Britannia Bulk Holdings.

Britannia Bulk reported last week that it faced financial difficulties due to losses made on forward freight agreement contracts, bunker hedging and chartered in tonnage.

Nordea Bank Denmark and Lloyd’s TSB Group then asked dry bulk operator Britannia Bulk for immediate repayment of $158.7m outstanding on a loan due to a default on the terms.

Britannia Bulk had previously warned of the high risk of it breaching the terms, as the asset values of the five ships used to secure the loan had plummeted.

The secondhand cost of capesize vessels has dropped to $68.8m, from an all-time high of $153.8m in July, according to the Baltic Exchange.

http://www.lloydslist.com/ll/news/administrators-called-in-to-britannia-bulk/20017586502.htm
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thee trader thee trader 16 years ago
please post more news, when you recieve. thx
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