BPZ Resources Inc (OTCMKTS:BPZR) Loses Its Ground

BPZ Resources Inc (OTCMKTS:BPZR) lost more than 16% of its market value on Friday’s trading session, as investors saw the previous day rise as an opportunity to offload the shares. There is a high probability of billions of BPZ new shares hitting the market in case it fails to pay its 2015 ‘Note’.

The details

BPZ Resources hasn’t given investors strong reasons to doubt its performance to date, but again, there doesn’t appear any concrete evidence that company is willing and in a position to pay off its debt or negotiate it’s restricting before March 10, 2015. So, it appears investors who bought BPZR on the dip have made a gamble, the results of which will be evident in next few days. If the company manages to defuse the probable situation, investors should be prepared to hit the jackpot. If it turns opposite, BPZ Resources market value can decline even faster and harder than it was witnessed last time. The investors need to keep a watch on oil prices and take clues on that front.

Delisting Notice

The problems for BPZR don’t end here as on March 2, BPZ Resources informed that NYSE has determined to begin proceedings to delist its common stock from the NYSE. The trading of BPZR stocks on the NYSE was suspended immediately. As per NYSE, BPZ is no longer suitable for continued listing as its share price is trading below the required parameters under Section 802.01D.

Review process

BPZ Resources Inc (OTCMKTS:BPZR) can review the determination by a committee comprising the Board of NYSE Regulation. The exchange will apply to the SEC to delist BPZ common stocks upon completion of necessary procedures and formalities, including appeal by BPZ of the NYSE Regulation decision. The company’s stocks commenced trading on the OTC Pink under the ticker “BPZR” on March 3, 2015.

Related News

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyrıght 2015 All RIGHTS RESERVED.