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Anyone have confirmed O/S count?
I'll continue to hang my hat, and wallet, on "ROX continues to trade at a near 60% discount to industry multiples".
O/S count?
Long term will be fine. Short term, unfortunately, will be risk. Just looking at Nielsen for Jefferson family in Specs, largest retailer most likely impacting in Houston for instance, and takeaway $ trends have slowed Last 4 weeks to +11.8% vs. +24.2% L26 wks. What true financial impact this has on ROX is impossible to tell yet. Some On-prem outlets have closed and won't ever open doors again. Like other retail industries impacted there, wouldn't shock me to hear annual US sales at risk in the low single % digits. What's a $1 or $2 million hit to fiscal sales mean to share price FUN? Maybe a nickel lower than otherwise expected?
Wonder if they'll include any downside Q3 risk as a result of the hurricanes?
Other than that, should be all good news!
YODALAYHEEHOOO! BONZAIII!
Tick tock tick tock...get ready for blast off!!
Any info from Larry today justifying this rip-chord-jenkins?
Chugga chugga chugga!!!
What is O/S count at now?
O/S count anyone?
Maybe I'm just too d*mn naive to the corrupt manipulation of MM's, but the share price drops are definitely related to tutue buying. Vanguard picking up millions of shares...and it just so happens we're hovering back in the $1.30-$1.50's while they load up? Not exactly complaining because it gives us all more opportunity to buy low, but sheesh. How is this legal?
Correct, it's the Jamo that's being DC'd.
Grause is correct. $XX.97 in Costco signifies a discontinued item. Usually it's accompanied by an asterisk (or "deathstar") on the shelf price sign indicating the item will not be re-ordered.
Anyone have the O/S count yesterday close vs. today? Wondering if a little dilution scared poeple off today..
Curious if anyone's heard from IR on when we might expect a new investor presentation ahead of upcoming conferences?
What's the OS count now? Still 303 million?
O/S still at 303M?
I'm not going anywhere, buying more and more.
Just found it ironic there seems to be a direct relationship to large institutional buys lately and share price declines.
FUN, how do we explain this...
ROX re-enters Russell and millions of shares are purchased by tutes...and share price plunges.
ROX announces strong Q1, Blackrock tute buys millions more shares...and share price plunges.
Is this just Market Maker games?
That'd put us at a half billion $ valuation easy. With a market cap of only $300 mill, it's safe to say there's a lot of upward mobility left in the share price. Sooo undervalued still...pretty amazing.
Exactly why I posted it - knew you'd know the answer! Keeping the net confidential, got it. Fair enough. Got me all excited maybe ROX was about to buy the last 20.1%.
Thanks for the response FUN. Been a shareholder for over a year now bc I love their long-term prospects (in the industry), and have been following this board for a few months.
New to the operations of dilution thru convertible notes though - I'm too green sry. Saw the notes laid out in the recent 10K and got a little worried bc I'n seen some horrific dumping following other stocks. How are you comfortable that won't happen here in ROX? Not being pessimistic, just trying to learn.
Does this worry anyone in terms of possible dilution?
From 10K...
In October 2013, we entered into a 5% Convertible Subordinated Note Purchase Agreement, which we refer to as the Note Purchase Agreement, with the lending parties thereto, which provides for the issuance of an aggregate initial principal amount of $2.1 million unsecured subordinated notes, which we refer to as the Convertible Notes. The lending parties include certain related parties of ours, including an affiliate of Dr. Frost ($500,000), a director of ours and our principal shareholder, Mr. Andrews ($50,000), our chairman, an affiliate of Mr. Lampen ($50,000), a director of ours and our president and chief executive officer, an affiliate of Mr. Halpryn ($200,000), a former director of ours, and Vector Group Ltd. ($200,000), a more than 5% shareholder of ours, of which Mr. Lampen is an executive officer, Mr. Beinstein is a director and Dr. Frost is a principal shareholder. We used a portion of the proceeds to finance the acquisition of additional bourbon inventory in support of the growth of our Jefferson’s bourbon brand.
The Convertible Notes bear interest at a rate of 5% per annum, payable quarterly on March 15, June 15, September 15 and December 15 of each year beginning on December 15, 2013 until their maturity date of December 15, 2018. The Convertible Notes and accrued but unpaid interest thereon are convertible in whole or in part from time to time at the option of the holders thereof into shares of our common stock at a conversion price of $0.90 per share, which we refer to as the Conversion Price. The Convertible Notes may be prepaid in whole or in part at any time without penalty or premium, but with payment of accrued interest to the date of prepayment. The Convertible Notes contain customary events of default, which, if uncured, entitle each noteholder to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the Convertible Notes. The issuance of the Convertible Notes closed on October 31, 2013.
We may forcibly convert all or any part of the Convertible Notes and all accrued but unpaid interest thereon if (i) the average daily volume of our common stock (as reported on the principal market or exchange on which the common stock is listed or quoted for trading) exceeds $50,000 per trading day and (ii) the volume weighted average price of the common stock for at least twenty (20) trading days during any thirty (30) consecutive trading day period exceeds 250% of the then-current Conversion Price. Any forced conversion will be applied ratably to the holders of all Convertible Notes issued pursuant to the Note Purchase Agreement based on each holder’s then-current note holdings.
Wouldn't the math roughly work like this based on popular opinion:
500 million OS shares RS to 125 million, leaving 375 million to cover the debt conversion post RS
If $15 million in debt sells 75% (25% kept for ride up) = $11,250,000 to sell
And $11,250,000 / $375 million = $0.0300 average pps on the debt conversion
Assume no existing shareholder sell off (sigh), wouldn't the "bottom" or average for debt conversion reasonably be considered $0.0300 / share
Realize there's a ton of other factors, but couldn't this generally attempt to describe what the hell is going on here.
Searching for answers...
Someone is buying all these trash shares though, that's for sure
Looks like another 2 million T Trade right after closing bell. Would we expect the total # of T Trades since RS to correlate at all with the increased OS (26 million so far)?
Can't see level 2 on Fidelity Pro for OTC but sure felt like the dilutive MM's weren't as busy today. When will they go away?! $ICLDD