KIT Digital, Inc fka KITDQ

[goodplenty100]

Possibly a news leak!! Maybe a PR A. H.

[jukemasteragain]

action

[jukemasteragain]

action

[kenbkb]

I read somewhere you will get 30 days but the exercise price is not determined yet.

[Old Hillbilly]

(76)Pro Rata
means, at any time, with respect to distributions under the Plan,
(i) for Holders of Allowed General Unsecured Claims in
Class 4, the proportion that each such Holder’s
Allowed Class 4 Claim bears to the total amount of
all Allowed Class 4 Claims, (ii) for Holders of
Allowed Litigation Claims in Class 7 and Allowed Interests in
Class 8, the proportion that each such Holder’s Claim,
calculated (a) for a Holder of a Claim in Class 7
as the liquidated dollar amount of
such Claim determined by a final, non-appealable,
non-stayed order of a court of competent
jurisdiction, and (b) for a Holder of
an Interest or Interests in Class
8, as the sum of the exercise price
of all Reorganized KDI Warrants issued to such Holder
under the Plan, bears to the total amount of all
Allowed Class 7 and 8 Claims, taken together, and (iii) with respect
to the issuance of Reorganized KDI Class B Common Stock to each
member of the Plan Sponsor Group, the proportion set forth in
the term sheet attached to the Plan Support Agreement.

from:Plan Support Agreement.
Pursuant to the Plan, the Plan Sponsor Group will offer
warrants (the “Warrants”) to
be distributed to the Debtor’s stakeholders to purchase
stock of the Reorganized Debtor at the same price as the Plan
Sponsor Group. Proceeds of the Warrants will be used to redeem
up to 50% of the equity interests provided to the
Plan Sponsor Group, with the balance of the proceeds
(if any) to be used for working capital for the
Reorganized Debtor.
https://www.americanlegalclaims.com/lcms_documents/16/5179b7131b69c.pdf

So commons will get warrants to buy stock in the "New" Company.
I wonder what the exercise price will be and the time limit.

[Old Hillbilly]

Section 5.06
Cancellation of Interests On the Effective Date, all Interests
in the Debtor (i.e., KDI Common Stock), including,
without limitation, any and all options or rights to exercise
warrants or options or to otherwise acquire
any KDI Common Stock or any other Interest in the Debtor shall
be canceled and be deemed terminated and of no force and effect
and the certificates that previously evidenced ownership of
those Interests shall be deemed canceled (all without
further action by any person or the Bankruptcy
Court) and shall be null and void and such certificates shall
evidence no rights or interests in the Debtor or Reorganized KDI.

GL

[local]

PLAN OF REORGANIZATION filed on 4-25-13.

"Section 4.08 Interests
Classification: Class 8 consists of all Allowed Interests represented by the KDI Common Stock.

Treatment: Except to the extent that a Holder of an Allowed Claim in Class 8 has agreed to a less favorable treatment, on the Effective Date, or as soon thereafter as is practicable, each Holder of an Allowed Interest in Class 8 shall receive one
Reorganized KDI Warrant for each outstanding share of KDI Common Stock held by such Holder as of the Distribution Record Date.

Voting: Interests in Class 8 are Impaired. Each Holder of an Allowed Interest in Class 8 shall be entitled to vote to accept
or reject this Plan."

No purchase price for the warrants given other than that they will be the same price as the class B stock. They are non transferable and must be redeemed in full with in 30 days of being issued.

https://www.americanlegalclaims.com/lcms_documents/16/5179b7131c63b.pdf

[Renee]

KITD changed to KITDQ: Bankruptcy:

http://www.otcbb.com/asp/dailylist_detail.asp?d=04/26/2013&mkt_ctg=NON-OTCBB

[longhair61]

Say What... Huh, If effectuated, the Plan would allow all shareholders the opportunity to participate in the future growth of the Company...

Y thank you so kindly sirs i got your back on this one ,

[here4beer]

chapter 11 and some fools are still buying

[BlockTrade]

.25 is bottom support level II

[BlockTrade]

Excellent!! You should do very well at that price

[BrazenBull]

wow chp 11 interesting.

[smokeeater]

bought a nice bunch at .25

[BlockTrade]

I see 17 cents as a base support, may not go that low, or could go lower....Lol.

[BlockTrade]

Perfect buying opportunity here today if you know where bottom is....

[LexTrader]

You and me both.

[smokeeater]

interesting WSJ article, KITD could be one of those stocks that actually goes up right after a BK filing, if it gaps down hard in the morning will look at adding some more

http://blogs.wsj.com/moneybeat/2013/04/16/kit-digital-says-it-could-file-for-chapter-11-this-month/?mod=yahoo_hs

[smokeeater]

no problem,can't take credit though, Dav1234 posted on my board

http://investorshub.advfn.com/boards/board.aspx?board_id=2346

[BlockTrade]

Glade you seen it

[smokeeater]

no PR out yet,just came out in a 8K filing

[BlockTrade]

Thank you! I hadn't seen that yet, sounds encouraging for shareholders......

[smokeeater]

KITD to file Chap 11 Bk Filing,may not be all bad news

KIT digital Announces Final Phase of Restructuring



NEW YORK, NY, April 16, 2013—KIT digital, Inc. (“KIT” or the “Company”), a global provider of Digital Television and Media solutions, announced today that it has reached an agreement with three of the Company’s largest shareholders, Prescott Group Capital Management, JEC Capital Partners, and Ratio Capital Partners (collectively the “Plan Sponsor Group”), to sponsor a reorganization of the Company under chapter 11 of the U.S. Bankruptcy Code. The reorganization is expected to be effectuated pursuant to a Plan of Reorganization (the “Plan”). This is anticipated to include, among other things, a recapitalization of the Company fully backstopped by the Plan Sponsor Group, an opportunity for all existing shareholders to participate in the recapitalization, and the regrouping of the core operating entities Ioko 365, Polymedia, Kewego, Multicast and Megahertz into a newly formed group entity called Piksel. Through the Plan, the Company expects to be in a position to pay all vendors, suppliers and other holders of valid pre-petition claims.



Only the non-operating parent holding company, KIT digital, Inc., will commence a chapter 11 case to effectuate the proposed restructuring. It is anticipated that the chapter 11 filing will occur by April 24, 2013. KIT digital’s already profitable operating subsidiaries, including Ioko 365, Polymedia, Kewego, Multicast and Megahertz will not be impacted.



KIT has taken this action, with the support of its Independent Special Committee of the Board of Directors. William V. Russell, Non-executive Chairman of the Board of Directors, added, “We are pleased to announce this comprehensive solution that will provide KIT with relief from the financial, legal, and regulatory issues currently encumbering it. The Plan allows all shareholders the opportunity to participate in the future growth of the Company and at the same time it will complete the Company’s restructuring by strengthening the balance sheet and positioning it for profitable growth.”



“The Plan provides certainty and comfort to our customers and employees and it will allow the reorganized company to aggressively pursue growth opportunities with confidence,” said Peter Heiland, Interim Chief Executive Officer and Plan Sponsor Group member. “By moving the core businesses forward together unburdened by the issues currently plaguing the corporate parent, our customers and products can once again become the sole focus of this exciting business.”












Additionally, the Company has entered into a forbearance agreement with its secured lenders, which provides that the secured lenders will not exercise any remedies against the Company through April 23, 2013, while the Company completes the necessary Plan documents.



###



About KIT digital, Inc.

KIT digital is a leading video management software and services company. With its proprietary OVP and OTT platform products, Cloud and Cosmos, as well as systems integration and solutions design expertise, KIT delivers complete video solutions to clients, helping to power the transformation from traditional broadcast to multiscreen broadband TV. KIT digital services nearly 2,500 clients in 50+ countries including some of the world's biggest brands, such as Airbus, The Associated Press, AT&T, BBC, BSkyB, Disney-ABC, Google, HP, MTV, News Corp, Sky Deutschland, Sky Italia, Telecom Argentina, Telecom Italia, Telefonica, Universal Studios, Verizon, Vodafone VRT and Volkswagen. KIT digital maintains headquarters in New York City with offices around the world. Learn more at www.kitd.com and follow on Twitter .



KIT digital Media Contact:

Natasha Roberton

VP Brand and Communications

T: [phone]

E: [e-mail]



TallGrass PR Media Contact:

Tarley Jordan

Account Executive

T: [phone]

E: [e-mail]

[BlockTrade]

I see 22,000 on the bid @ .38

[BrazenBull]

exatly block trade have you seen the list of people that these guys have worked with!! We are talking fortune 500 also KitD was still hiring people a few months ago. Patience will be key here block. I bought in at .76 for the record so I have all the patience in the world!

[BlockTrade]

Bid building........ ask also coming up ,People starting to realize KITD still has value.......

[BlockTrade]

Now @ 4 M&Ms on the bid, .37 looks to be the new bottom support Imo.
.37 x .40

[BlockTrade]

We're back to only 2 Market makers on the bid......

[BrazenBull]

Block, I think it will take a while to get there. I am hoping this is in recovery mode. I am not selling until. Thats just me and my partner though. I think people bought in at higher prices, and that most weak hands got shaken out from the drop from the 70s to the 20s. I think thats why we will slowly build are way back up. Got my fingers crossed.

[BlockTrade]

I hope your right....

[BrazenBull]

Im glad that we have their eyes here. Looking forward to the 10k KitD was a huge company that went through something strange with the accounting. It was quiet for several months. I would love to come out of the fire victorious. I feel we hit the bottom in the 20s I think we are building in the 40's might stay here for a bit, and then on to 70s and dollars. Just my opinion, but at some point we will need some news here. I think the people buying now have strong hands and are holding long here.

[BlockTrade]

Level II screen shot

[BrazenBull]

Definitely seems like we are building a base. people will slowly start jumping back in here.

[BlockTrade]

Looks like bid support is building,and some price consolidation before the next leg up Imo.

[BrazenBull]

Interesting, sorry Block I dont use L2 so I am not real sure.

[BlockTrade]

Does anyone know how many market makers KITD normally has on bid? Friday I seen only 2 and today I see 4

[BlockTrade]

Thanks,GLTA......

[BlockTrade]

OOOOPS!! Me bad! Try this one,Daily:KITD

[BrazenBull]

Congrats bro!! Welcome

[smokeeater]

nice weekly chart there! noticed volume bump yesterday and bought .35/.37 today! can you post a daily? tia Rob

[BlockTrade]

Daily Chart:KITD

[BlockTrade]

Took a 15k share start position here today........

[longhair61]

Insiders know whats up , lookn for a Leak

[BrazenBull]

something serious is happening here!

[BrazenBull]

10 k out soon?

[BrazenBull]

awesome!!! I feel something is grumbling in the company somewhere. Cant put my finger on it but, something is happening

[longhair61]

Ha this turds doing pushum ups today hallalewya

[BrazenBull]

wow hello!!!!!

[BrazenBull]

Something in the works here? very well might be.

[Warren Bo Ba Buffett]

Woe Ghost town here whats up KITD? People want to know.