Movie Gallery Inc. (fka MVGRQ)

[Andrea_Simps]

what's up everyone? I'm new here.

A 37.43 outstanding shares? is that good or bad? wanna know your opinion guys. tnx!

[Renee]

MVGRQ: Plan of bankruptcy effective. All shares cancelled.

http://www.otcbb.com/asp/dailylist_detail.asp?d=10/27/2011&mkt_ctg=NON-OTCBB

[Value_Investor]

The MM NITE is very sick to dump 900 shares at the 52-week low 0.001
while the bid was 0.003 and no fill! The SEC should investigate the NITE's crime for OTC stock manipulation before or around 9:30 AM...

[Value_Investor]

0.003 x 0.01 yesterday. Where are those sellers which dumped shares
at 0.002 ~ 0.0026 recently? Why they were willing to sell at low not
at high price? I bet it must be the very sick MM NITE's manupulation

[Value_Investor]

0.0026 x 0.003. What happened today? Why someone dumped 10000 shares
at 0.0025 while the ask was 0.01 yesterday & now he does not want to
sell any share at 0.0026 while the ask is 0.003? I bet it is the bad
MM NITE who is manipulating the price down! Please don't sell at bid

[Value_Investor]

0.0025 x 0.01. MVGRQ will not drop to 0.001 again. Buy at ask ASAP!

[Value_Investor]

0.0021 x 0.0099 now. No year end huge sales! MVGRQ has already found the unbreakable support at 0.002 which is 100% higher than the floor
or 52-week low 0.001. Hope it will hit the recent high 0.01 again!

[Value_Investor]

0.002 x 0.0099 now. 10000 shares dumped at 0.002 which is still 100% higher than the bottom or 52-week low 0.001. Seems 0.001 will be hit
before the end of 12/31/2010 due to the huge year end tax-loss sale!

[Value_Investor]

0.002 x 0.01 now. Will MVGRQ hit the 52-week low 0.001 again before
01/01/2011? Why the trading volume is such low with 37.43M-share OS?

[Value_Investor]

0.004 x 0.01 now. The bid is raised 233.4% from .0012 to 0.004. Wow!

[mrbizzard]

I see!!! Great things coming!!!

[Value_Investor]

0.003 x 0.01 now. The bid is raised 150% from .0012 to 0.003. Rally!

[Value_Investor]

0.002 x 0.01 now. The bid is raised 66.7% from 0.0012 to 0.002. Some
shares sold at the asking price 0.01 today! MVGRQ is up 73.4% so far

[Value_Investor]

Nothing happened as I know. The ask is still sitting at 0.01 while
the bid is at 0.0012. Huge spread anyway. The MMs did not reflect my
buying order (0.005) at all. We may have to wait for the MM's action

[mrbizzard]

whats going on with the ask?

[mrbizzard]

http://investorshub.advfn.com/boards/board.aspx?board_id=19047

[Value_Investor]

It is very nice to hear from you, my buddy! Would you please tell me
where is the new board you created? Which team do you mean? Thanks.

[mrbizzard]

Hey bud! just created a new board.. Things will be looking up soon enough! If possible can you PM me your email address and come check out my board! I am starting a team and would love if you'd join in!

Thanks.

[mrbizzard]

I think soon this one will take off! We could hit .32 in no time flat!! With just a little volume!

[Value_Investor]

I just noticed: bid x ask is 0.006 x 0.01 now. I bet 0.01 tomorrow.

[Value_Investor]

The bid x ask is 0.002 x 0.01 now. As of today about 150,000 shares bought at 0.01 since the stock bottomed out at 0.001. More .01 comes

[Value_Investor]

The ask is 0.01 now while the bid is 0.001. Huge spread. The MMs may
try to frustrate both the buyers and the sellers in order to get the
bottom shares because 0.001 is the 52-week low. I will call the desk
to raise the bid to 0.0012 or higher.

[Value_Investor]

If you placed order at the asking price 0.004 it should be filled. I
just called the trading company & was told the it is 0.0012 x 0.004.

[Value_Investor]

Yes. It is the MM's game: use this way to frustrate the buyer/seller
then the MM get the cheapest shares. I witnessed too many such cases
in the Pink Sheet world. Anyway now it is showing 0.001 x 0.004.

[mrbizzard]

i've been trying to put in an order but its showing no bid and no ask!! Are you seeing the same thing?

[mrbizzard]

Ive been sitting on .0012 .003 and .004 and havent been filled yet.. if no fill today will try again tomorrow! maybe .0045

[Value_Investor]

You are on the board now. Anyway the bid was raised to 0.003 and now
it backs to 0.0012 again. I am wondering who are those lucky buyers
who bought the shares at 0.001 ~ 0.0012? Two MMs bid at 0.0012 now.

[mrbizzard]

can you add me as assistant mod. thanks! I will be buying a small starter and alerting as many as will listen!!

[Value_Investor]

The floating is only 3M shares which is why the thin trading volume.
It is very hard to get any share unless you buy at the asking price.
The stock will fly to as high as 0.21 once the investing public find
out the true value MVGRQ has. After the CH11 bankruptcy BLOAQ traded
at 0.073 or $10,658,000 market value vs MVGRQ at $39,500 MV only.

[mrbizzard]

This seems to be relatively unknown. Very little volume..Seems as you are the only one accumulating.Well thats about to change..Doing my DD and if everything checks out prepare to see your account rise!! The share structure seems great! Any worries of dillution?

[Value_Investor]

The bid is 0.0012. However I have never got a share at the bid price
as of today. The bid x ask was 0.0025 x 0.01 before. The intangible asset could be worth several millions of dollars. The brand can sell
up to $1M, the customers base for $1M ~ $3M, and the land for $2M...

[mrbizzard]

no bid? ask at .004 but it closed at .0012.. Do you know the float here? Any knew revelations you can post? Are many .0012's left may tap this and put this on some radars and get this oe moving!

[Value_Investor]

I do not know when. But I believe it will because BLOAQ trades above
$5,475,000 vs MVGRQ trades at only $39,500! Both are the same CH11/Q
video renting chain store. MVGRQ is extremely undervalued & oversold

[mrbizzard]

whats the time frame for this deal! sounds very interesting may buy a small position. When should the deal be completed ?

Thanks

[Value_Investor]

Great news for MVGRQ today! After done the sale of all the assets it
will be bought out by the competitor as a shell company which means
0.03 a share market value. So it is easy to gain 2500% for 0.0012...

[Value_Investor]

MVGRQ is trading at only $0.03M market value vs the same category of
CH11 BLOAQ is trading over $10M MV! So it is easy to gain 33333% or
shoot as high as $0.3 for MVGRQ. Huge discount at the current price!

[Value_Investor]

Great news for today! It may push the price to 0.05 ~ 0.1 soon...

Movie Gallery filed an Amended Joint Plan of Liquidation and Disclosure Statement with the U.S. Bankruptcy Court. According to the Disclosure Statement, "The Plan is a liquidating Plan. Pursuant to prior orders of the Bankruptcy Court, the Debtors have terminated their remaining business operations and have liquidated or are in the process of liquidating their remaining assets. The Plan provides for the continuation and completion of that liquidation process, and also provides some recovery for holders of unsecured claims against the Debtors, even though the claims of most of the Debtors' pre-petition secured creditors will not be paid in full. Based on the foregoing, the Plan has the support of the Committee….the Plan also provides for the payment in full of the Revolver Secured Claims (including the payment of the Revolver Effective Date Cash on the Effective Date), for the payment in full to holders of allowed administrative claims and allowed priority claims, and for the creation and the funding of the First Lien Term Lenders Liquidating Trust for the primary benefit of the Debtors' first lien secured creditors, and the funding of the GUC Liquidating Trust for the benefit of the Debtors' unsecured creditors (each of the First Lien Term Lenders Liquidating Trust and the GUC Liquidating Trust being a 'Liquidating Trust' and collectively being the 'Liquidating Trusts.')….The GUC Liquidating Trust will be funded with $5 million of cash on the Effective Date. The First Lien Term Lenders Liquidating Trust will receive all other assets, consisting primarily (but not necessarily exclusively) of causes of action, refund rights, cash, certain inventory located in the Debtors' sole remaining distribution center, miscellaneous real estate, intellectual property and all of the Debtors right, title, and interests (as a secured creditor, equity-holder, and otherwise) in Movie Gallery Canada, Inc. ('MG Canada'). To the extent provided in the Plan, the first lien secured creditors are not asserting any deficiency claim against the GUC Liquidating Trust on account of their first lien secured claims. The Plan further provides for the termination of all Interests in the Debtors, the substantive consolidation of the Debtors, the dissolution and wind-up of the affairs of the Debtors, the implementation of the GUC Liquidating Trust, the implementation of the First Lien Term Lenders Liquidating Trust and distributions from the respective Liquidating Trusts to the respective beneficiaries thereof as further provided in and subject to the Plan."

[Value_Investor]

Something is brewing on the background and the reverse-merger news or buy-out deal will be announced very soon! That is why the price rocket 900% from the 52-week low 0.001 to the current high 0.01. Be
ready to sell your shares at 0.05 ~ 0.1 within a couple of weeks...

[IPO$]

CPA?

[Arthur Andersen]

MOVI - New 'Sherif' In Town

"The Company emerged from Chapter 11 in 2008. Sherif Mityas, President and CEO, was appointed in April 2008."

from http://www.moviegallery.com/company/about.aspx

[Teammoga]

Yeah it does...I think were screwed...

"Gallery is issuing new common stock and warrants, which will be distributed to certain classes of unsecured creditors. Current shareholders are not eligible to get distributions of new common stock or any other distributions."

Or we just may not get the new stuff. I am still new to this bankruptcy stuff.

[MJAM2020]

doesn't this say these shares have been cancelled?..what am I missing?..

mj

[Teammoga]

Movie Gallery emerges from bankruptcy protection
LOS ANGELES (Reuters) - Movie Gallery Inc said on Tuesday it had concluded its Chapter 11 restructuring and had successfully emerged from bankruptcy protection.

Movie Gallery, the second-largest North American video rental company with about 3,300 stores, also said it closed a $100 million exit financing facility and named a new seven-member board of directors.

Neil Subin, managing director of Trendex Capital Management, which focuses primarily on distressed and troubled companies, was named chairman of the board.

Under the reorganization plan, Movie Gallery is issuing new common stock and warrants, which will be distributed to certain classes of unsecured creditors. Current shareholders are not eligible to get distributions of new common stock or any other distributions.

Effective on Tuesday, Movie Gallery's existing shares of common stock, its 11 percent senior notes and 9.625 percent senior subordinated notes have been cancelled.

Earlier this month, Movie Gallery reached an agreement to sell its VOD service, Moviebeam, to Dar Capital Limited for $2.25 million.

Movie Gallery turned off the on-demand movie service in December, which had about 1,800 subscribers, as part of its restructuring under Chapter 11 protection.

The service, which used a network of PBS television stations to distribute signals, required customers to purchase a television set-top box that allowed them to order films.

Movie Gallery first entered bankruptcy in October 2007 and has closed about 950 stores since September as it struggled to compete in a maturing marketplace further challenged by evolving new video distribution models used by companies such as Netflix Inc and Apple Inc. Continued...



http://www.reuters.com/article/marketsNews/idINN2033350120080520?rpc=44

[Teammoga]

Movie Gallery Expects To Emerge From Chapter 11 Early In 2Q
Wednesday 04/09/2008 6:02 PM ET - Dow Jones News

Related Companies
Symbol Last %Chg
MOVIQ 0.01 25.00%

As of 11:01 AM ET 5/6/08
DOW JONES NEWSWIRES
Movie Gallery Inc. said a federal bankruptcy court approved its reorganization plan and the company expects to emerge from Chapter 11 bankruptcy early in the second quarter.
The Dothan, Ala., video-rental chain previously announced that its reorganization plan includes a $100 million exit-financing facility; conversion of about $72 million of the company's $175 million second lien indebtedness; conversion of its $325 million 11% senior notes and most other general unsecured claims into new equity; and a commitment by Sopris Capital Advisors to invest an additional $50 million to purchase new equity.
-Adam O. Manzor; 201-938-5400; [e-mail]

(END) Dow Jones Newswires
04-09-08 1802ET
Copyright (c) 2008 Dow Jones & Company, Inc.

[Teammoga]

up again. if anyone is listening.

[Teammoga]

GOOD VOLUME TODAY.

[Teammoga]

Dealwatch: Movie Gallery
[Posted on April 17, 2008 at 10:59 AM]
E-mail | Leave a Comment
Filed under: Dealwatch | Distressed | Retail
Tagged: bankruptcy , Blockbuster , Hollywood Entertainment , Movie Gallery


Movie Gallery Inc., which landed in bankruptcy protection little more than two years after its ill-fated deal for rival Hollywood Entertainment Corp., recently saw its reorganization plan approved -- a model, according to Soapbox contributors, that could serve as a template for other such plans going forward.


The second-largest movie rental company in the U.S. announced Oct. 16 it filed for Chapter 11 in the United States Bankruptcy Court for the Eastern District of Virginia, Richmond Division.

The Dothan, Ala.-based company laid out plans to reduce debt and reorganize while in bankruptcy, with intentions to convert some $400 million in debt to equity. The Chapter 11 filing by Movie Gallery was no surprise as it made a tragic mistake when it purchased its bigger rival Hollywood Entertainment Corp. two years ago. With a huge debt load, the company had trouble repaying its loans over the past year attributing to its bankruptcy filing.

Movie Gallery's plan to emerge was confirmed April 9. Terms gave second-lien debtholder Sopris Capital Advisors LLC a controlling interest. The private equity firm will kick in as much as $175 million in exit financing. Ahead of winning approval for its reorganization plan, the company was shuttering locations at a furious pace. After gaining approval for going-out-of-business sales at more than 500 locations in November, and then winning the OK to auction off 400 additional leases to stores March 20, Movie Gallery said April 2 it planned to shutter 160 more, for a total of 1,080.

THE FINAL SCENE

Over the weeks leading up to the filing, the cracks surfaced dramatically. On Sept. 25, Movie Gallery announced it was selling 520 unprofitable locations to save money, but on the surface, the move seemed too little too late. Overall, the company carried $1.2 billion in debt as of July, comprising about $325 million in bonds; $725 million in first-lien loans, which have first claim to the assets; and $175 million in second-lien loans.

Movie Gallery's $1.2 billion debt developed into an albatross around its neck. The burden was more apparent when Movie Gallery missed several deadlines to pay its second-lien term loan in September, which pushed credit-rating agency Standard & Poor's to give Movie Gallery's debt a default rating of D. A D rating means that Movie Gallery has defaulted on a loan and the rating agency believes the company will not be able to meet its other debt obligations.

SOURCE OF TROUBLE

With profits in the DVD rental sector harder to come by over the last couple of years, Movie Gallery boldly went ahead and purchased Hollywood Entertainment in 2005 for $1.2 billion, which included the assumption of $350 million in debt. The acquisition catapulted Movie Gallery to the No. 2 slot among movie rental companies in the U.S., behind Blockbuster Inc. But stiff competition for the entertainment dollar from rivals and cable proved too much for Movie Gallery.

Blockbuster expanded its offerings, combining online rentals and in-store returns, while Netflix Inc. expanded into movie downloads. Movie Gallery, on the other hand, has no online component. Couple that with other delivery platform services like on-demand and it added up to a perfect storm.

The company's poor track record speaks for itself; Movie Gallery hasn't generated a profit since its Hollywood deal. And its stock performance reflected its pain falling to mere pennies from a mid-$20 range ahead of its Hollywood buy. - Gerald Magpily and Carolyn Murphy




http://www.thedeal.com/dealscape/2008/04/dealwatch_movie_gallery_inc.php

[Teammoga]

Movie Gallery reports profit
By Cindy Spielvogel -- Video Business, 4/16/2008
APRIL 16 | Movie Gallery reported net income of $5.7 million on revenue of $177.2 million for the month ended March 9.

The required filing in U.S. Bankruptcy Court could signal the beginning of a turnaround for the company, whose reorganization plan has just been confirmed by the court.

Hollywood Entertainment division stores reported net income of $4.2 million on revenue of $117 million, while Movie Gallery-branded stores had $1.5 million in net income on $60.3 million in revenue for the month.

For the entire period since the company filed for bankruptcy Oct. 16, Movie Gallery reported a net loss of $85.4 million on $925.9 million in revenue.

Hollywood stores had a net loss of $93.5 million on $637.8 million in revenue since the bankruptcy was filed, while Movie Gallery stores had $8.1 million in net income on $288.1 million in revenue.

The company expects to emerge from bankruptcy this quarter.

http://www.videobusiness.com/article/CA6551934.html?desc=topstory

[Teammoga]

Starting to move.

[Teammoga]

Movie Gallery plan cleared; expects to exit bankruptcy

By Robert Daniel
Last update: 1:38 a.m. EDT April 10, 2008Print
TEL AVIV (MarketWatch) -- Movie Gallery Inc., (MOVIQ:Movie Gallery Inc
News, chart, profile, more
Last: 0.01+0.00+30.00%

1:15pm 04/15/2008
MOVIQ 0.01, +0.00, +30.0%) the Dothan, Ala., entertainment-retailing chain, said that its reorganization plan was approved by the U.S. Bankruptcy Court in Richmond, Va., and that it expects to emerge from bankruptcy-law proceedings early in the second quarter. The current shares of Movie Gallery were canceled in the reorganization. Movie Gallery has almost 3,500 stores in all 50 states and Canada under the names Movie Gallery, Hollywood Video and Game Crazy.

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7b0082268D-1B84-429A-A56B-A15CD935E31A%7d&siteid=yhoo&dist=yhoo