Bankruptcies

**mthomasdev** · 08-24-2015, 02:53 PM

Originally Posted by NHscrapman

looks like a recycler from china is buying it up.
Total Merchant is an investment vehicle formed to seek appropriate opportunities in the United States metals and commodities market. Total Merchant is controlled by Mr. Chung Sheng Huang, the Chairman of the Board and Managing Director of Ye Chiu Group, one of the leading recyclers and producers of aluminum and aluminum alloys in the world and a prominent Asian scrap metal recycler with operating facilities in China and Malaysia.
a look at ye chiu group's website say's based in china
link from matallico's site
Metalico. Inc, - News Release

Stock holders meeting is 9/11th to vote on this. Been debating if I'm going to dabble with the stock. A yes vote, yields about 22% if your long. A no vote and the stock goes to 30 cents or less, maybe even bankrupt. Could be a good short bet. Possible upside of 48 cents and possible downside of 12 cents if your short

Stock is currently at 48 cents. buyout is 60 cents.

**mthomasdev** · 08-29-2015, 05:19 AM

Originally Posted by mthomasdev

Stock holders meeting is 9/11th to vote on this. Been debating if I'm going to dabble with the stock. A yes vote, yields about 22% if your long. A no vote and the stock goes to 30 cents or less, maybe even bankrupt. Could be a good short bet. Possible upside of 48 cents and possible downside of 12 cents if your short

Stock is currently at 48 cents. buyout is 60 cents.

Now I'm kicking myself in the ASS! Stock is up from 48 cents to 56 cents and inching closer to 60 cents . Everyone must think they will get a yes vote. This would have been a 16% gain in 5 days. Hopefully someone on here saw my previous post and made a little money.