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I hear ya:) I'm holding until tomorrow. I believe this can hit 0.13 to 0.16 range in tomorrows trading session. IMO
GLTY
I just got out today. I'm keeping a close eye on it though but won't jump back until it has a lot of momo and goes past .2. I might flip it though if it seems right.
No I have no idea. I only got into this one with $500 as a gamble play. As soon as it goes up about .02 I'm out. I'm hoping this will be good for a few flips.
You still in SPSN 714trader? I sold last week to jump into a couple of others. I plan on getting back in soon, I just didn't like the way it was trading as of late.
Ha, what's up 714trader? I know this one is very dangerous.
Not going to hold this one too long:) I'm trying to find info on what this will mean for common share holders in the future.(privatization) Do you know 714trader? If this
Ha glad to see you hear mervini. Looking at this one for a bounce play also, but need to be careful.
Very volatile right now.... I do like the intra day chart, I think this will push to new HOD soon with strong close. IMO
I'm doing a little DD on what it means for common share holders when a company privatizes. It says no where in today's PR that it's public common shares would soon be canceled / worthless.
They expect to emerge within 35 days from Chapter 11 BK with positive cash flow. I Need to find out a little more on what this means for common shareholders.
as soon as the shorties covered all their shares this will fall like a stone. Have a look at it.
hope so, but do you really think that will happen if they are going private??
This is going to have a nice bounce back / rebound.IMO
Bought in this morning @ 0.07......Looking for the mid teens tomorrow. GLTA
you never know. SPSN was in ch 11 and went from 0.02 to 0.49 and also ASYT. Today is not the day to sell.
I'm happy that I have only freebies in it right now, but if everybody would hold their shares it could be interesting later.
The short sellers must cover their positions,
40% short percent of float
http://shortsqueeze.com/?symbol=SORC
Source Interlink files for pre-packaged bankruptcy
By Steve Goldstein
SORC 0.16, -0.03, -14.6%) said it's entering a lender-approved pre-packaged Chapter 11 bankruptcy, under which it hopes to re-emerge within 35 days. The company's lenders will cancel nearly $1 billion of the company's existing debt and provide approximately $100 million in additional liquidity. Source Interlink, in agreement with its lenders, will pay all of its vendors in full and on time if they agree to maintain current credit and payment terms.
Source Interlink Companies, Inc. Goes Private
Eliminates Approximately $1 Billion in Debt in Restructuring Agreement with Lenders
On Tuesday April 28, 2009, 12:30 am EDT
Buzz up! Print Related:Source Interlink Companies, Inc.
BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Source Interlink Companies, Inc. (Nasdaq:SORC - News), one of the largest publishers of magazines and online content for enthusiast audiences and a leading distributor of DVD’s, CD’s, magazines, video games and books today announced it has reached a restructured agreement with its lenders to eliminate approximately $1 billion dollars of existing debt and privatize the company.
Related Quotes
Symbol Price Change
SORC 0.16 0.00
{"s" : "sorc","k" : "c10,l10,p20,t10","o" : "","j" : ""} Under the agreement, the company’s lenders will cancel nearly $1 billion of the company’s existing debt and provide approximately $100 million in additional liquidity. Source Interlink, in agreement with its lenders, will pay all of its vendors in full and on time if they agree to maintain current credit and payment terms. To facilitate the restructuring, the Company filed a lender-approved pre-packaged Plan of Reorganization under Chapter 11 in the U.S. Bankruptcy Code. The Company anticipates it will emerge within 35 days.
Source Interlink Chairman and Chief Executive Officer Greg Mays said, “We couldn’t be more pleased, this restructuring will materially reduce our interest expense and debt levels, substantially improve free cash flow and allow us to capitalize on several operational opportunities to further improve and grow our business.”
“Current management will remain in place, daily operations will continue as usual, and our employees will continue to do what they do best---provide exceptional service to our customers. Importantly, all of our vendors will be paid in full for both pre-petition and on going charges according to our terms of trade. It’s business as usual at Source Interlink” Mays added.
Source’s business partners support the restructuring as well. Bob Castardi, President of Curtis Circulation Company said, “The Curtis Circulation Company is very encouraged about being a valued trading partner. Source Interlink Companies’ reorganization will reduce any concerns going forward as to their financial stability. We at Curtis embrace the fact Source got out in front of this!”
Michael Sullivan, CEO of CMG, a national distributor of Source stated, “When Source presented their reorganization plan in detail we were very relieved to understand the huge debt write off. This will allow CMG to move forward with new initiatives knowing that Source Interlink Companies will be in a very favorable financial position.”
As a result of this agreement, Source Interlink has cancelled its investor call previously scheduled for May 1, 2009.
I like the way we closed on Friday. Hopeful for a little bounce in A.M.
still here with a lot of freebies. Good volume yesterday and today. Huge short position, waiting for the short squeeze run..
GL Sharing
There is actually more chatter on the boards than boardmarks:
http://investorshub.advfn.com/boards/msgsearch.aspx?searchstr=sorc
http://stockcharts.com/h-sc/ui?s=sorc
Nice chart
Buy Confirmed - American Bulls
http://www.americanbulls.com/StockPage.asp?CompanyTicker=SORC&MarketTicker=NASD&TYP=S
Source Interlink Media™ Partners with CafePress to Launch Online Shops for More Than 75 Magazines
Merchandise From Publications Including Car Craft, 4Wheel & Off Road, Super Street Bike, and Powder, Now Available
Source Interlink Media, one of the largest publishers of magazines and online content for enthusiast audiences, today announced the launch of over 75 new online shops selling magazine branded T-shirts, hats, and other popular gifts. Source Interlink Media chose to partner with CafePress, the leader in user-generated commerce, based on their exemplary customer service, their ability to easily create online shops for each media property, and their ability to efficiently produce product on demand.
Through this partnership, CafePress seamlessly hosts each store, manages all payment transactions, shipping, and customer service, while employing print-on-demand technology for all merchandise and operates an affiliate program that allows partners to tap into its catalog of relevant user-generated designs.
“Our media brands have built their success by tapping into fan bases of enthusiasts,” comments Sean Holzman, president of Source Interlink Media’s Enterprise division. “A partnership with CafePress allows us to easily operate shops for every publication we have, giving our readers access to merchandise they’ll love.”
Some of the merchandise shops now available include:
MOTOR TREND
Automobile
LOWRIDER
LOWRIDER Girls
HOT ROD
Four Wheeler
4 Wheel & Off Road
Heavy Hitters
Rod & Custom
Hot Bike
Street Chopper
Car Craft
Super Street
Import Tuner
Dirt Rider
Super Street Bike
Powder
Snowboarder
Horse & Rider
SAIL
“Through our partnership, Source Interlink Media gains the ability to sell quality branded merchandise easily and efficiently to its diverse readership base,” said CafePress Vice President of Marketing Amy Maniatis. “Now and in the future, readers will enjoy enhanced product selection and new designs as these merchandise shops evolve.”
About CafePress
CafePress is the leader in User-Generated Commerce and offers sellers turnkey e-commerce services to independently create and sell a wide variety of products, and offers buyers unique merchandise across virtually every topic. Launched in 1999, CafePress has empowered individuals, organizations and businesses to create, buy and sell customized merchandise online using the company's unique print-on-demand and e-commerce services. Today, CafePress is a growing network of over 6.5 million members who have unleashed their creativity to transform their artwork and ideas into unique gifts.
For more information visit CafePress at www.cafepress.com
About Source Interlink
Source Interlink Companies, Inc. (NASDAQ:SORC), a $2.2 Billion media and marketing services company operating in 25 states, is a leading U.S. distributor of home entertainment products and services and one of the largest publishers of magazines and online content for enthusiast audiences. Source Interlink Media, LLC publishes over 75 magazines and 90 related web sites. Source Interlink Distribution services tens of thousands of retail store locations throughout North America distributing DVDs, music CDs, magazines, video games, books, and related items. In addition to distributing over 5,900 distinct magazine titles annually, the Company maintains the largest in-stock catalog of CDs and DVDs in the U.S. -- a combined total of more than 260,000 titles. Supply chain relationships include consumer goods advertisers, subscribers, movie studios, record labels, magazine and newspaper publishers, confectionary companies and manufacturers of general merchandise.
CafePress
Marc Cowlin, 650-655-3039
pr@cafepress.com
or
Source Interlink
Julie Smartz, 323-782-2963
Julie.smartz@sorc.com
Source: Business Wire (March 25, 2009 - 12:02 PM EDT)
Agree, lets see what happens. The same to you!
Well I guess we'll have to see. Good luck to you.
A lot of help to hit the .40 or .50?? Lol no it needs only some covering here. We had already .35 on friday. lol
low volume? We had nearly one Mil. on friday with a 180% day lol. I do not need to push it, I am already 60% in plus with this position. Don t care about the boardmarks, I am here to make money and this stock with its huge short position of more than 40% makes me sure that it will hit the .50 very soon.
So it isn t too late to buy some here IMO
LOL...short position? First off, I don't short stocks, and second, this pos hasn't touched .50 since Oct 08. Low volume and crappy business doesn't excite and drop continues. Maybe you can help get the boardmark number to say, oh, 3?
They are gonna need A LOT of help to get this stock to the 40's or 50's.
I think you better should cover your short postition here soon,
next step this week back to over .50
And still this is quite cheap here IMO
Sharing
This company is in a 300 million deficit in a dying industry, trading at .25 and that is WAY too high a price for this imo. This stock belongs in the .05 or .10 range and even that may be too high. Don't see much of a chance for survival and the volume is scary low. Lots of baggage with this imo and the latest Q is pretty horrible. IMO
here we go! Did I say that I bought some
And that is only the beginning!!! Short Squeeze !!!!!!
I bought some here, could be very interesting in the near future.
High percentage of short interest.
Could make a good move soon IMO.
Sharing
Press Release Source: Source Interlink Companies
Source Interlink Inks Distribution Agreement With Hudson News Distributors, LLC and Dismisses Legal Action
Wednesday March 18, 8:55 am ET
BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Source Interlink Companies (NASDAQ:SORC - News) today announced that Hudson News Distributors, LLC has agreed with Source Interlink Media, the Company’s special interest publishing and media division, to continue distribution of Source Interlink Media titles throughout their markets. “We are pleased that SIM’s popular special interest titles will continue to be carried by this leading wholesale distributor, and will be fully available to consumers,” said Greg Mays, Chairman and CEO of Source.
In conjunction with this settlement, Source Interlink Companies today also moved to dismiss with prejudice the legal claims previously filed against Hudson News Distributors, LLC. This announcement follows Source’s earlier announcement of a settlement of related claims against wholesaler The News Group, L.P.
Regarding the newly signed distribution agreement and dismissal of the Company's legal claims against Hudson, Mays commented, “We greatly respect Hudson and are delighted that we are resuming normal working relationships with them, effective immediately.”
Retail Business for Source Interlink Distribution Continues to Grow
Source Interlink Companies separately reported that its magazine distribution unit, Source Interlink Distribution, continues to acquire up new business and increase its retail store counts.
March 16, 2009:
Added 43 new military exchanges.
March 3, 2009:
Added 160 new supermarkets and 15 new military base stores.
February 28, 2009:
Added 400 additional supermarkets, drug stores and military retail outlets.
February 17, 2009:
Added 662 new Wal-Mart, Kroger / Fry’s and Basha’s stores.
In addition to SID, which is one of the largest mainstream magazine wholesalers in the US, Source also operates the largest distributor of CDs and DVDs, the largest publisher of enthusiast magazines, the largest distributor of magazines to bookstores and other specialty retailers, and the largest importer of foreign magazine titles to US newsstands.
Contact:
Source Interlink Companies. Bonita Springs
Jason P. Adams, 239-495-5138
--------------------------------------------------------------------------------
Source: Source Interlink Companies
#3 on stocks shorted list. 47% shorted.
Reversal. MMs bringing it up hard. Should be a fantastic one.
Good report thanks
SORC:Nasdaq has decent news:
Source Interlink beats by $0.08, beats on revs
Briefing.com - April 15, 2008 4:10 PM ET
Related Quotes
Symbol Last Chg
SORC Trade 1.37 0.00
Quotes delayed at least 15 minutes
Reports Q4 (Jan) earnings of $0.20 per share, excluding non-recurring items, $0.08 better than the First Call single estimate of $0.12; revenues rose 47.3% year/year to $706.4 mln vs the $602.5 mln single estimate
SAR hovering over and may meet at 1.60, possibly buy opp at 1.70-1.80 or so.
looking for a bounce here to mid 2's
GL
New! More insider trading at SORC:
http://finance.lycos.com/qc/news/story.aspx?story=200412161804_BWR__BW5632
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Source Interlink is a leading provider of information and management services for retail magazine sales to U.S. and Canadian retailers and magazine publishers. Source is also a leading manufacturer of display racks used by retailers at checkout counters. From its core businesses, industry knowledge and relationships with retailers, publishers and vendors of mass merchandise products, Source has developed its ICN website that offers retailers and publishers a forum for communication and e- commerce.
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Source Interlink Companies, Inc.
27500 Riverview Center Boulevard
Suite 400
Bonita Springs, FL 34134
United States - Map
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" rel="nofollow" target="_blank">http://maps.yahoo.com/maps_result?addr=27500%20Riverview%20Center%20Boulevard+Suite%20400&csz=Bonita%20Springs+FL+34134&country=United%20States">Map
Phone:239-949-4450
Fax: 239-495-5110
Web Site: http://www.sourceinterlink.com
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BUSINESS SUMMARY |
Source Interlink Companies, Inc. operates as a marketing, merchandising, and fulfillment company of entertainment products in North America. Its entertainment products include DVDs, music CDs, magazines, books, and related items. The company engages in the publication of print and digital content to the enthusiast community in the United States via publications, Web sites, and events; distribution and fulfillment of entertainment products to retail chains and direct-to-consumers through the Internet; import and export of periodicals sold in approximately 100 markets worldwide; and coordination of product selection and placement for impulse items sold at checkout counters. It also involves in the processing and collection of rebate claims; and design, manufacture, and installation of metal wire display fixtures in retail chains. The company serves bookstore chains, music stores, other specialty retailers, grocery stores, drug stores, and mass merchandise retailers. As of January 31, 2008, its media content portfolio comprises 76 publications, 90 related Web sites, approximately 65 events, 2 television programs, and approximately 400 branded products. The company was founded in 1988 and is headquartered in Bonita Springs, Florida. on April 28, 2009, Source Interlink Companies, Inc. filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware.
To deliver to consumers the very best in magazine, Internet and home entertainment content. To do this directly through our owned publications, Web sites and licensed home video programming, and by efficiently distributing content from other publishers and producers. To ensure ease of consumer access to their favorite reading, viewing and listening materials. To achieve these goals by empowering a talented and dedicated workforce, and generating growth and returns for all our stakeholders.
For more information about the reorganization go to www.sourceinterlink.com and click on the Reorganization Information tab or contact Cynthia Beauchamp, at (239) 949-7624.
fact sheet - source interlink companies
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this is source:
a look inside source interlink companies
Take a look inside Source Interlink Companies, one of the largest publishers of magazines and online content for enthusiast audiences and a leading distributor of DVDs, CDs, magazines, games and books. Learn how we bring consumers the very best in print, video, music and online content -- every day -- in North America and around the world.
http://www.sourceinterlink.com/about/video/
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