Just clear your mind and let it happen...
Okay, I will take the bait...wth does Zen have to do with parlay action?
Headsup on NMTI with a current price of .0115 & a previous year high of over $2. Pincher setup per chart attached below & Ameritrade indicating approx 16M shares with L2 appearing thin. Auction coming up on 6/10/11. Another Poster also has a few useful points contained in his post attached below.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62427806&txt2find=< a=""> style='background-color:yellow;'>nmti <>
MXOM, one hell of a gold play! DD worth while!
Mesa Air Group Agreement Approved
The U.S. Bankruptcy Court approved Mesa Air Group's motion seeking to assume an amended master purchase agreement with Bombardier. As previously reported, under the agreement, Bombardier has agreed that: (i) there is no cure amount owing as a result of the modifications (ii) Bombardier's $310 million claims against Mesa Air Group and Mesa Airlines shall be allowed as a single claim against Mesa Air Group in the approximate amount of $75 million; and (iii) certain mutual payment obligations shall be offset and restructured that will result in immediate savings to the Debtors. In addition, the Debtors have agreed to release Bombardier from certain claims and obligations under the master purchase agreement and resolve certain other claims of Bombardier related to aircraft leases and spare engine parts.
Mesa Air Group Plan Approved
The U.S. Bankruptcy Court approved Mesa Air Group's Plan of Reorganization, clearing the way for the airline's emergence from Chapter 11. Following a successful and efficient 12-month restructuring, Mesa restructured its operations and is set to emerge as a leading regional air carrier flying primarily larger 70- and 86-seat regional jet aircraft. Mesa's creditors overwhelmingly supported the Plan of Reorganization, which also applies to the eleven wholly owned subsidiaries of Mesa that filed for Chapter 11 protection. Mesa and each of its subsidiaries are expected to emerge from Chapter 11 in February 2011. Among the company's restructuring accomplishments, Mesa extended the term of is code-share agreement with US Airways, Inc. through September 2015; eliminated over 100 unnecessary aircraft leases and financings that contributed to the deleveraging of Mesa's balance sheet in the approximate amount of $700 million in capitalized leases and $50 million in debt; restructured aircraft leases and financings for Mesa's fleet of CRJ 200 and Dash 8 aircraft resulting in flexibility and no long-term lease exposure on the CRJ 200 50-seat regional jet aircraft; Mesa will emerge as a private company and issue new notes, common stock, and warrants to its creditors. "Mesa is now poised to enter its next chapter as a strong airline ready to compete in an ever changing industry. We are particularly proud of the fact that during our restructuring, Mesa achieved - and has consistently maintained - regional airline leading operational performance as reported by the U.S. Dept. of Transportation, including Mesa achieving the highest monthly On time performance of all regional airlines since May 2010. This strong operational performance is a tribute to the hard work and dedication of all of our employees and came during a time when many of our employees contributed to our financial savings through the taking of additional unpaid days off. This level of dedication and associated strong operational performance has provided a strong foundation upon which to return our airline to sustained profitability and future growth," said Jonathan Ornstein, Mesa's Chairman and Chief Executive Officer.
I've scraped together every resource w/n my reach. All in this one for exception of small pos in NWTT
I know ... I've marked the board. As usual ... The good ones run away from me!!!!
Press Conference is at Notre Dame Science Hall next Wednesday 11:00 AM. Media Only!
I know but .... I ain't got no money in my account ... Yet!! Hold the price down will ya
I said: IT'S FAR FROM TOO LATE!!! KBLB, ahemmm...
It's far from too late, imo but still not as nice as buying @ .10-.12
Nice ..... I'm happy for those that own share. Unfortunately, I do not.
KBLB flying? Wait til news. Looked over NTWW for a few days, then took an entry position today. Potential there, imo
How are you liking KBLB bounce? 50% today, WHOOP!
Blockbuster files for bankruptcy protection
By MAE ANDERSON | AP Retail Writer • Published September 23, 2010
NEW YORK – Troubled video-rental chain Blockbuster Inc. filed for Chapter 11 bankruptcy protection, and said it plans to keep stores and kiosks open as it reorganizes.
The move, long expected and pre-arranged with bondholders, effectively ends an era that Blockbuster dominated - of Americans visiting video-store chains for the latest movie-rental releases. Increasingly, Americans are watching movies via video subscription services like Netflix Inc., video on demand and vending machine services such as Redbox.
In a submission to the U.S. Bankruptcy Court in the Southern District of New York on Thursday, the company said it reached an agreement with bondholders on a recapitalization plan.
Blockbuster plans to reduce debt from nearly $1 billion to about $100 million or less by swapping debt for equity in a reorganized Blockbuster with bondholders that hold about 80.1 percent of the company's senior notes.
It has received commitments for $125 million in "debtor-in-possession" financing from senior noteholders to repay customers, suppliers and employees during the reorganization.
"After a careful and thorough analysis, we determined that the process announced today provides the optimal path for recapitalizing our balance sheet and positioning Blockbuster for the future as we continue to transform our business model to meet the evolving preferences of our customers," said CEO Jim Keyes.
Blockbuster, founded in 1985 by a Dallas software entrepreneur, was once a home entertainment powerhouse. It helped popularize videotape recorders and took off in 1987 after Waste Management Inc. founder Wayne Huizenga took control and began aggressively expanding and buying up competitors.
But Blockbuster has been losing money and market share for years. As Netflix and other services gained popularity, Blockbuster tried to keep up. It ended late fees and started online and kiosk services of its own. But it was unable to keep its debt in check.
Hollywood Video parent Movie Gallery Inc., once the second-largest U.S. movie rental chain behind Blockbuster, also fell victim to changing movie-watching habits and filed for bankruptcy protection in February - it's second trip through bankruptcy court. It liquidated in August.
Blockbuster, based in Dallas, earlier this year said it would close hundreds of stores and said it was struggling with liquidity problems. It had warned investors it might file for bankruptcy protection and was delisted in early July by the New York Stock Exchange.
Blockbuster said Thursday its 3,000 stores in the U.S., DVD vending kiosks, by-mail and digital businesses will all continue to operate normally. Operations outside the U.S. and domestic and international franchisees are not part of the Chapter 11 reorganization.
Billionaire investor Carl Icahn will help steer the latest efforts to save Blockbuster, reviving a role he played previously in trying to shape up the company. He has thrust himself into position of power, this time by snapping up about one-third of Blockbuster's highest-priority debt, according to a report published Wednesday in The Wall Street Journal.
Blockbuster said in its filing it had about $1 billion in assets and $1.46 billion in debt.
Blockbuster's largest creditors include the Bank of New York Mellon, Twentieth Century Fox Home Entertainment, Warner Home Video Inc., Sony Pictures Home Entertainment, The Walt Disney Co., Universal Studios Home Entertainment and other movie studios.
Read more: http://www.theolympian.com/2010/09/23/1379062/blockbuster-files-for-bankruptcy.html#ixzz10MCkhEnM
Yea. I know. Star Trek started a revolution too. Remember when a communicator became a cell phone?
Yes oilstrike, we aren't making fun of you, just the nature of the product. Which is similar to the webs created by Spiderman. ;)
Yeah Peter Parker developed that in the 70's. He swings around Manhattan wearing a silly costume as well
Certainly IMO that resistance will be near .30 if not sooner. It's a sketchy low float play.
Anything wrong with a bump?
Tronox Equity Committee Files Competing Plan of Reorganization
On September 2, 2010, the Equity Committee of Tronox filed a Plan of Reorganization to compete with a plan recently submitted by the Debtors. The Equity Committee has also filed a motion with the court that would provide for a deadline to object to the Disclosure Statement of September 17, 2010 and for a hearing to approve the Disclosure Statement to be held on September 23, 2010 which also coincides with the hearing to approve the Debtors Disclosure Statement. Some of the more salient provisions of the Equity Plan and Disclosure Statement and the differences between the competing plans taken from the filing are as follows:
• The Equity Committee Plan is based on a valuation range of $1.2 to 1.3 billion, with a midpoint of $1.25 billion. This valuation better reflects the true value of Reorganized Tronox when compared to the valuation that forms the basis of the Debtors’ Plan.
• Both the Equity Committee Plan and the Debtors’ Plan are employing a rights offering process, which will enable certain stakeholders to purchase new equity in Reorganized Tronox. In both the Equity Committee Plan and the Debtors’ Plan, all holders of General Unsecured Claims and all Holders of Indirect Environmental Claims will be given the opportunity to participate a rights offering to purchase new equity in the reorganized company. Unlike the Debtors’ Plan, however, certain Holders of Equity Stock Interests who are Eligible Holders will also be able to participate in the rights offering pursuant to the Equity Committee Plan. In the Debtors’ Plan, Holders of Equity Stock Interests will be given no such opportunity. Under terms to be arranged with the Debtors, the Equity Committee intends to conduct its Rights Offering to Holders of General Unsecured Claims and Indirect Environmental Claims in conjunction with the rights offering to be conducted under the Debtors’ Plan. The Rights Offering to Holders of Equity Stock Interests, however, will be conducted post-confirmation of the Equity Committee Plan.
• The Equity Committee and its financial advisors believe that the Debtors’ Plan significantly undervalues the value of Reorganized Tronox. Because the Debtors’ Plan undervalues Reorganized Tronox, a greater portion of the New Common Stock will be distributed to a certain ad hoc group of bondholders (the “Ad Hoc Bondholders”) that are backstopping the Debtors’ Rights Offering, to the detriment of all of the other creditors and equity interest holders in this case. Additionally, as noted above, Holders of Equity Stock Interests will not be given an opportunity to participate in the rights offering that will be conducted pursuant to the Debtors’ Plan.
• Under the Equity Committee Plan, 62.5% of the New Common Stock will go to Holders of Allowed General Unsecured Claims as compared to 16.9% under the Debtors’ Plan. This represents a significantly higher recovery received in primary equity that is not based on the requirement to participate in a rights offering.
• The Equity Committee Plan seeks to preserve the settlements reached with the Governmental Environmental Entities and the Holders of Tort Claims and will provide those entities with an equal or greater recovery than that which they would otherwise receive in the Debtors’ Plan. However, the Equity Committee reserves the right to challenge the allowance and amount of claims of the Governmental Environmental Entities and Holders of Tort Claims and/or to modify the treatment of such claims if any classes of such claim vote to reject the proposed treatment in the Equity Committee Plan.
• The Equity Committee Plan also provides value to the public shareholders of Tronox in the form of New Warrants and the ability to participate in a portion of the Rights Offering. Under the Debtors’ Plan, the public shareholders will receive warrants that the Equity Committee believes are essentially valueless and then, only if the class of shareholders votes in favor of the Debtors’ Plan. The Equity Committee believes that the Debtors’ Plan does not adequately value Reorganized Tronox and, as a result, deprives the public shareholders of recovery to which they are legally entitled. The Equity Committee intends to challenge confirmation of the Debtors’ Plan because it does not believe that the Debtors’ Plan is confirmable under the requirements of the Bankruptcy Code.
• The Equity Committee Plan also provides the necessary financing for Reorganized Tronox’s operations post-emergence, including a greater amount of borrowing capacity under the Exit Credit Facility. While there is less debt and reduced borrowing capacity under the Debtors’ Plan, the difference is made up by increasing the rights offering (and thus the shares of stock) being provided to the Ad Hoc Bondholders and leaving less stock (and therefore, less value) to be distributed to the Holders of Allowed General Unsecured Claims. Specifically, the Ad Hoc Bondholders have set aside for themselves the exclusive opportunity to purchase $15 million of New 8% Convertible Preferred Stock, which, aside from being senior to the New Common Stock, is valued at approximately $17 million. This, combined with backstop fees valued at approximately $36 million, means the Ad Hoc Bondholders are paying themselves approximately $53 million on the Effective Date of the Debtors’ Plan.
• According to the EC plan, the estimated ranges of recovery for Tronox Equity holders varies between $1.39, $2.58 per share and $3.75 per share at enterprise valuations of $1.20 billion, $1.25 billion and $1.3 billion respectively.
This blogpost is not meant to be a complete summary of the EC Plan or Disclosure Statement. Readers of this blog post are strongly encouraged to read the Plans and Disclosure statements of both the Debtors and the Equity Committee in their entirety. None of the information contained within this post or anywhere on this blog should be construed as a recommendation to vote for or against any plan that is now or ever will be put before the court.
Link to EC Plan Disclosure Statement:
Link to EC Plan of Reorganization:
mdxx took the week off it seems....
last week up 60% this week, zip. waiting on the 'yield' sign to go away, and get 'current' status. then pr's roll and it should run hard.
i assumed they would do that this week. oops. buying op
Yes, nice upside potential with JLIC. Good news will make it move up quick considering the limited amount of shares available. Good sign that bashers/shorts are showing up on the JLIC board, trying to keep the price down. Have you noticed some small sells in this attempt for keeping it down, while the overall price has been increasing for the last four days ?
thanks for posting that link dougem...I agree, jlic does look intriguing....we'll see how it plays out, but I'm thinking its good for a multi-bagger from here at least. We'll see....
Still adding JLIC....looks like it is starting to get more attention & getting difficult to buy cheap shares. With the low share structure & net assets of .38/share per the recent filing, I believe this could make a strong move up.
Also with JLIC being a 133 year old company & having name recognition, I believe an offer will be made to take them over. JLIC DD post attached below with additional information in respect to a possible merger PR'd earlier this year.