Tearlach resources (TEA.V)

Company just settled an $18M lawsuit in their favor.

43M shares

18/43=$0.41

Trading at $0.14 now.

This might be a good quick flip.

As per my usual style, I missed the boat again.

Bought this morning at 0.14 and didn't look again until market close.....could have sold at .27.....

Shorts are killing this one I figure... hope for a good gap up tomorrow morning. Either way I will be out tomorrow.

Take into account whatever legal fees were involved (don't know if lawyer takes a % of the award). Also there still may be an appeals process that could have the decision reversed.

Also, if you read the article, the award will be split between the partners in the joint venture and it is not clear how much of that belongs to TEA. Also, the award should be paid in monthly instalments rather than all at once.

All good points max. also the other partners in the JV might want some capital after waiting for years. the recent spike in price might tempt them to sell off their shares which could also hold the price down.

I believe the decision was handed down by the supreme court. I am not a legal guy but watching law and order tells me you can't appeal a supreme court ruling. J/k.

If i was a day trader this would have been a great play. I am not, so I missed the boat.

Hopefully I can get out this morning before it tanks

If it was supreme court, then I guess you are right, appeals are out.

Just need to find out how much of the award is going to TEA. They will probably be forced to trade the monthly income stream for a lump sum payout of a much smaller amount (financed through a bank) in order to capitalize the company if they plan to use the money for operations.

Anyway, it was an interesting play. What would you do differently if you had a chance? Limit orders?

Interesting play indeed. I had a limit in at .35 thinking it may hit .40. missed the mark.

Greed got me on this one.

I could have placed my limit much lower for a still admirable gain!

In the end i turned what could have been an easy $1000 profit into a $200 loss...DOH!