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These guys are on a role.
SNRV moving again today. Am I the only one with a position in this winner?
Dream
OK that about wraps up the discussions about AURCs past. NOW WHAT???
Wildcatter at what point do you decide PIP just doesn't work. Im not saying it doesn't work and I sure hope we hit this well but if not maybe it is time to bag PIP.
Dont worry wjw I think they are going to get all these things done tomorrow.
"It has been just about a year and still no joint venture.
If they would release update PR's, file Financial Statements and file with SEC, and get up listed they would have no problem."
SNRV flying anybody have a clue why?
Now thats a good one.
PZG
Well if its a takeover someone let the cat out of the bag.
PZG
Dont know why it moved so far so fast. Maybe a newsletter recommendation?
AGT
Added another 20,000 shares.
cl001 I think I will buy more AGT with some of the proceeds.
PZG
Just sold a bunch of PZG up 41 cents today. Sold first and asking questions later. Anyone have any idea why it popped?
Just hilarious. I almost fell off my chair laughing.
Sorry to here you have a boatload of cash in this company. I have a small position of 400,000 shares unfortunately acquired at much higher prices.
I hope you are right about Tom drilling and hitting a bunch of wells just like I hope you hit the lottery.
I want it to go back up just dont have any delusions about the chances of that happening.
Because I own this POS from a long time ago and its not worth enough to sell. So I check in here every once in a while but I am not delusional like alot of people here just hoping Tom somehow drills a well that actually hits oil. Thats if he actually ever drills another well. With his track record I would give my Grandmother a better shot at actually hitting oil. Any other questions?
Believe in what? There is nothing to believe in here until another well is drilled. Other than that there is absolutely nothing here.
Some buying going on right now.
Is this a total POS or a 20 bagger? That is the question. I dont have the answer.
cl001 the US markets are closed but I think Canada is open.
ERSO
My order was for a starter position of 5000. 2500 filled. May try to buy more manana. Where do you see this going.
Hank bought a few today at $1 today. Dont see any resistance till about $1.60.
AGT
Just picked up another 10,000 at .322 into this weakness in Gold.
The question is what is going to happen to common shareholders???
I see alot of people here wishing and hoping and having faith.
Does anyone actually have any recent real evidence that there is anything left here other than a shell???
chichi PTM for Platinum.
cl001 and Bobwins keep up the good work here. Oh and delete anyone's posts you want to including mine just keep doing your research and posting your thoughts here.
Hi cl001. You've been pretty quiet. What you up to? Im looking to re up my Gold positions if we can get another day or two of weakness. Have small for me position right now. Are you still in GSS and GORO?
"POE was up 14.5% today on average volume, does anyone know why...did I miss any news?"
Yes you missed the fact that I sold a couple days ago.
cl001 you sold one of your 4 horseman SMC. I had sold some off at .80 and .74. Sold the rest just a few minutes ago since you have been my Guru for the small caps lately. I sold 80,000 shares in 2 trades and they took it without blinking so for those of you holding it still looks good.
I am down to my smallest gold position in 8 years and not sure why. Would like to see a little weakness to reload.
(PR NEWSWIRE) Idearc's Largest Stockholder Seeks Election as a Director
Idearc's Largest Stockholder Seeks Election as a Director
LOS ANGELES, March 19 /PRNewswire/ -- Based upon growing concerns over the gove
rnance of Idearc, Inc. (Pink Sheets: IDAR), the largest shareholder has notified
the Company of his request to be included on the slate of directors to be voted
upon at the upcoming stockholders meeting.
"In order to ensure that the interests of shareholders are regarded as paramoun
t at the Board level, I have decided to step to the plate," said Corwin, an expe
rienced businessman and professional investor. "This company [Idearc, Inc.] has
tremendous potential, and frankly, the Board and Management have tremendous resp
onsibility . . . to its investors, its employees, and its customers. Given the
particulars of the company's financial situation, bankruptcy proceedings, indica
ted by the company as likely, would leave many constituencies greatly disadvanta
ged and in some cases literally wiped-out," Corwin continued. "In addition, I'm
concerned that the Company's customers - - particularly its biggest national cus
tomers - - will not want to place advertising with a bankrupt company."
"I have received a steady wave of communications from numerous Idearc sharehold
ers indicating that their concerns parallel those that I have raised," said Corw
in, who recently sent a letter to each member of Idearc's Board of Directors urg
ing that bankruptcy could be avoided by pursuing other readily-available alterna
tives. In that letter, Corwin reminded the Board that Idearc has sufficient cas
h on hand ($510 million at year-end 2008) to pay down enough of its outstanding
debt to avoid the need for a bankruptcy, and failure to do so would be a breach
of the Board's fiduciary duty to its shareholders.
Corwin's commitment to Idearc is significant. As contrasted from the existing
Directors who are only minimal stakeholders both individually and collectively (
one director holds 30,000 shares, while most others own less than 10,000 shares
each), Corwin holds greater than 12 million shares of Idearc stock.
Idearc's annual revenues were just under $3 billion in 2008 and is headquartere
d in the Dallas metropolitan area. The company employs approximately 7,200 peopl
e in about 100 offices around the country.
SOURCE Jack Corwin, Shareholder
Contact Information:
Bobbie Greenfield of Greenfield Consulting, +1-310-286-0200, bobbie@greenfieldgr
*** end of story ***
ACAS
Hank is ACAS still paying a dividend and if so how much?
Somebody didnt like the earnings.
Press Release Source: Idearc Inc.
Idearc Announces 2008 Results
Thursday March 12, 4:05 pm ET
Remains Focused on Strengthening Business and Balance Sheet
DALLAS--(BUSINESS WIRE)--Idearc Inc. (OTC: IDAR - News) today announced financial results for the fourth quarter and year ended December 31, 2008.
“Idearc’s fourth quarter financial results are disappointing as we expected,” said Scott W. Klein, chief executive officer of Idearc Inc. “We are making progress on our transformational and cost-cutting initiatives. However, the unprecedented economic challenges this nation is facing are creating never-before-seen obstacles for our clients and, as a result, for us as well.”
Financial Summary
Idearc reports financial results on a GAAP basis and on an adjusted basis to eliminate the impact of transition and restructuring costs, impairment charges and certain stock-based compensation. Impairment charges in the fourth quarter of 2008 include non-cash charges of $225 million primarily associated with the write down of intangible assets. The adjusted basis measures are described and are reconciled to the corresponding GAAP measures in the accompanying financial schedules.
For the year ending December 31, 2008, Idearc reported multi-product revenues of $2,973 million, a 6.8 percent decrease compared to the same period in 2007. Annual Internet revenue was $300 million, a 5.3 percent increase compared to the same period in 2007.
The Company reported fourth quarter 2008 multi-product revenues of $709 million, a 9.9 percent decrease compared to the same period in 2007. The Company reported Internet revenue of $77 million in the fourth quarter, a 2.7 percent increase compared to the same period in 2007.
The Company reported 2008 earnings before interest, taxes, depreciation and amortization (EBITDA) of $1,004 million including impairment charges, a 29.8 percent decrease compared to the same period in 2007. Reported 2008 EBITDA margins were 33.8 percent including impairment charges, compared to 44.9 percent in the same period in 2007. On an adjusted basis, 2008 EBITDA was $1,272 million, a 16.2 percent decrease compared to the same period in 2007. Adjusted EBITDA margins were 42.8 percent, compared to 47.6 percent in the same period in 2007.
For 2008, the Company reported fourth quarter EBITDA of $48 million including impairment charges, an 85.6 percent decrease compared to the same period in 2007. The Company reported EBITDA margins of 6.8 percent in the fourth quarter including impairment charges, compared to 42.3 percent in the same period in 2007. On an adjusted basis, fourth quarter EBITDA was $287 million, an 18.0 percent decrease compared to the same period in 2007. Adjusted EBITDA margins were 40.5 percent in the fourth quarter 2008, compared to 44.5 percent in the same period in 2007.
The Company reported 2008 net income of $183 million including impairment charges, a 57.3 percent decrease compared to the same period in 2007. On an adjusted basis, 2008 net income was $353 million, a 27.1 percent decrease versus the same period in 2007.
The Company reported a fourth quarter net loss of $77 million including impairment charges. On an adjusted basis, fourth quarter net income was $74 million, a decrease of 32.7 percent versus the same period in 2007.
Free cash flow for the twelve months ended December 31, 2008 was $307 million based on cash from operating activities of $363 million, less capital expenditures of $56 million.
Multi-product advertising sales for the fourth quarter declined 12.8 percent compared to 2007. On a full year basis, multi-product advertising sales declined 9.8 percent compared to 2007.
Update on Liquidity and Capital Structure
As of December 31, 2008, Idearc had cash and cash equivalents of $510 million. As previously reported, in October 2008, the Company borrowed $247 million under its existing $250 million revolving credit facility.
At December 31, 2008, the Company was in compliance with its quarterly leverage ratio covenant. However, based on current forecasts, the Company anticipates that it may be noncompliant with this covenant sometime in the first half of 2009. Additionally, because the December 31, 2008 financial statements the Company will provide to its lenders includes a report of its independent registered public accounting firm that contains an explanatory paragraph expressing doubt as to Idearc’s ability to continue as a going concern, the Company will be noncompliant with a second covenant. Noncompliance with this covenant is considered an event of default under the senior secured facilities thirty days following notice of such default from the lenders. Upon an event of default, absent other potential remedies, the lenders may declare the total secured debt outstanding to be due and payable and upon acceleration, the Company’s unsecured notes would also become due and payable.
Idearc has evaluated various options for restructuring its capitalization and debt service obligations to alleviate these covenant issues and to create a capital structure that will permit the Company to remain a going concern. Idearc and its advisors have considered various alternatives to strengthen its balance sheet and financial risk profile. Among these alternatives, the Company is currently considering a restructuring through a “pre-packaged,” “pre-negotiated,” or similar plan of reorganization under federal bankruptcy laws. Idearc and its advisors continue to work with representatives of holders of both the senior secured facilities and the senior unsecured notes in this regard. If the Company is unable to achieve a “pre-packaged,” “pre-negotiated,” or similar plan of reorganization, it would likely be necessary that the Company file for reorganization under federal bankruptcy laws in any event.
“Simply stated, restructuring our capitalization and debt obligations to a more appropriate level will provide us with the opportunity to prosper and grow in the years ahead,” Klein said. “We are dedicated to implementing an appropriate capital structure to support our new strategic business plans and objectives. A debt restructuring plan that will strengthen Idearc’s financial condition will position the Company to compete more effectively in a challenging and rapidly evolving economic environment.
“We would expect the Company to operate as usual throughout the restructuring process and continue to meet its obligations to consumers, clients and employees, just as we do now and have done in the past.”
In light of its ongoing review of alternatives for strengthening its balance sheet and financial risk profile, the Company will not host a conference call for investors this quarter and will not be providing an update on earnings guidance for 2009. For a more detailed discussion of the Company’s restructuring activities, please see the Company’s Annual Report on Form 10-K for the period ended December 31, 2008, filed on March 12, 2009 with the Securities and Exchange Commission and available online on the Idearc website, www.idearc.com, and at www.SEC.gov.
AGT
Just added 20,000 shares at 25 cents.
cl001 I have an order in at 25 cents for days and havnt filled a share. Bastards.
By the time EDEX hits 40 cents we will all be dead.
RBY
Any opinions on this one?
Is EDEX drilling a well or have any prospects to drill a well? Hard to hit a big well if you arnt drilling.
AGM
This one has been quietly moving up.