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Bruce - NFI
Is that reduction in dividend cited below due to increased share count because of the 150mio infusion?
>> NovaStar said on Monday private-equity funds MassMutual Capital Partners and Jefferies Capital Partners IV had agreed to invest $150 million in a transaction that may eventually give them a 17.5 percent stake........
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As a result of the deal, FBR's Valentin said NovaStar common shareholders will see their dividend slashed to $2.67 a share from $4.21 a share. Valentin also said the $150 million injection is not enough to sustain NovaStar, a REIT, unless mortgage markets suddenly rebound.>>
Cheers
gloer -
what makes you say "CB has had full control since inception". If that would be the case where are the filings stating his holdings (as they would have to be much greater than 5% which is the reporting limit). Just curios...
Cheers
MCE stands for Media Center Edition (just wanted to confirm that this is the Operating System you mentioned is on the Laptop). So just check out the firewalls settings via control panel -> security
lawtell -
XP MCE is built on XP Pro and has a firewall built in. Can't remember whether it is ON of OFF by default. But you should definitely check it's status.
Cheers
aardvark -
I agree with you to a point. I think he deserves a certain share of the company based on his previous investment which he did not cash in on yet (hence the Preferred Shares). But the proposal gives him way too much.
A good solution would be if he'd exercise let's say 2.5 or 3 mio of his shares pre-split and the rest at his leisure post-split. That would circumvent the exorbitant reward of 37% and limit it to ~10% max overall and also could be done without any overhead associated with changing the regulation for the Preferred Shares he owns already. And a step like this would put most share holders at ease (at least for most part as that still does not address further dilution fears but the 10% ownership for CB would lessen the likelihood for that to happen) and demonstrate his good intentions.
Regards,
Fairgame -
on the other side a CEO with 37% stake in the company still has not absolute control but a much stronger incentive to actually care about the stock price as it represents a significant portion of his wealth (I assume...). Trying to sell the shares (to make a quick buck) would end up in a much lesser return as it would most likely lower the price per share quickly and would only make sense if he is convinced that there will not be any long term success (which, of course, is a possibility).
Right now his Preferred Shares are not worth much and his ownership with common shares is almost non-existent so why would he care about the share price now.
I do agree, that a return of ~$7,500,000 for an investment of ~$500,000 is on the high side especially if compared that stock sales overall contributed ~$7,400,000 to the overall value of the company now. Given this ratio the reasonable share for him in this company should be anywhere between 10-15%, not 37%.
So, whether to hold on to shares already owned now depends on what you think the intentions of CB are and whether you can settle for the loss of >30% ownership.
Cheers
I wonder why nobdoy tried to get Michael Moore's attention for "sicko". Wouldn't this story habe been a pretty good fit for his documentary. Or will this be in it?
Cheers
Just noticed that on my last two returns (DVD coming from MA and return to PA)
spanishbid -
even if the preferred shares are not split does not mean that the conversion ratio does not change. It all depends what the company specified will be applicable in case of a split. And I was not able to track that information down so far. Has anyone else?
So the 3 scenarios are:
1) Preferred shares are split as well and the conversion ration stays 1 for 3
2) Preferred shares are not split but the conversion ratio is adjusted accordingly
3) Preferred shares are not split and the conversion ration is not adjusted
Scenario 1) and 2) are equivalent and give the preferred shares holder no advantage. 3), however would yield CB a substantial advantage.
But until anyone can present reliable and verifiable information on the matter I can not judge the situation. And this will be the last post from me on that matter.
Cheers
Use Windows Update feature and, once at the MS update site click on optional updates. There is one listed addressing certificate issues. I never used it as I never encountered those problems but remember it was there...
Cheers
More excerpts from the filing. I think the company is obligated to make sure the proxy is mailed and made available. I do not know whether it is possible for Brokerages to just return proxies to the company if they cannot be mailed for some reason and then the company could count those as proxies returned with no specification made therefore count them as yes. The bold part below says "properly executed proxy card" which opens the question whether a proxy card returned to the company by the brokerage without being sent to the actual shareholder constitutes a "properly executed proxy card". I would doubt the validity of such proxy card, but don't know fir sure. Maybe somebody else knows... But that's a good point to follow up on.
>>The accompanying proxy card is designed to permit each Shareholder to vote FOR, AGAINST, or ABSTAIN from voting on the proposals described in this Proxy Statement and to authorize the persons serving as proxies to vote in their discretion with respect to any other proposal properly presented at the Special Meeting. When a Shareholder’s properly executed proxy card specifies a choice with respect to a voting matter, the shares will be voted accordingly. If no specifications are made, the proxy will be voted FOR the proposals described in this Proxy Statement and at the discretion of the persons serving as proxies with respect to any other proposal properly presented at the Special Meeting.<<
>>In addition to soliciting proxies by mail, officers and directors of the Company may solicit the return of proxies by personal interview, mail, telephone, and facsimile. These persons will not receive additional compensation for their services, but will be reimbursed for out-of-pocket expenses. Brokerage houses and other custodians, nominees, and fiduciaries will be requested by the Company to forward solicitation material to the beneficial owners of shares[/]. The Company will bear the costs of solicitation.<<
ctb -
keep in mind that according to the filing any vote not casted is counted as "NO" which means CB has to actively pursue every shareholder to cast a vote "YES" otherwise he has no chance of passing his proposal in the first place.
I wonder how many shareholders have >5% shares and how many have >10% shares.... If Yahoo information is correct then there is not one single shareholder >5% which means that most the voting power is probably represented here by board members anyway. Which again means unless we here decide to vote actively for the RS this has no chance to go any further without clarification/modification of the RS proposal...
Just a thought.
But the buy would be post-split and therefore at the new share price...
ctb -
I still don;t get your reasoning with the private investor. For $5mio he would get ~4mio post split shares which would be 4 out of 24mio post split shares outstanding or 16% of the company.
What I do agree about is that the AS would have to be adjusted downward (maybe 50mio or 100mio at most) to limit further dilution but allow the company to commence stock swap transactions for acquisitions that make sense and do not dilute.
tharmon, comon -
your posts seem to line up, but comon16 recap of his conversation with Joe is in stark contrast to what rawhide is reporting. Guess I have to write myself to find out what the truth is.
The preferred shares, IMO, will be RS'd as well as the filing said no impact on voting power and share structure will occur (which is only possible, if all shares get treated the same).
So I am more inclined to believe your accounts of conversations with Joe than rawhide's.
I also do believe that the company will run into trouble if the RS does not happen as financing outside equity will be hard to get without proven income, which is still a few months away. And certainly none of us would want "death-spiral" type financing, right?
I still think the RS is the right thing to do but with an adjustment of AS as well (some here suggested 200mio, but I think it should be more aggressive than that, maybe 50mio or 100mio at most). This would address fear of dilution and signal that the company is serious about shareholder value while at the same time achieving better liquidity.
I think it is pretty clear from the wording that Preferred Shares are treated the same as common shares but the open topics are convertibles and the Authorized shares.
In order for the RS to work the AS cannot be reduced by the same ratio otherwise it would only achieve the purpose of a higher ps but not the shortage of liquidity. But reducing it by maybe 10/1 might settle down a few more skeptics and limit the amount of dilution perceived looming in the future.
If the wells do come through (as most of us here expect) then liquidity issues will be a thing of the past rather soon (within a year) and dilution fears won't be an issue anymore.
1h15m with no trades? And that on a higher volume day....
guess MMs or whoever achieved what they wanted (getting cheap shares).
Let's see where this gets us. The RS, if approved, will cost us some in the short term (and it would have to happen soon in order to address some of the issues they want to resolve) but eventually improved fundamentals should get us where we want to be. Question is, how much more dilution would we have to endure before positive cash flow stops all that.
Cheers
Anybody know when the meeting is going to be?
Why would there be a sell-off due to RS fears right now. There has been no news release in that regard emphasising the issue, or did I miss it.
On the contrary, as most here agree, today's news is rather good and should provide for improved cash flow soon.
Cheers
And we're mentioned on Wikipedia for Online DVD Rental under "Marketplace summaries - United States" as one of the smaller companies targeting market niches...
but try online rental dvd and we show up on the first page on position 8
gwikley -
Do you run by any chance Ad-Aware SE Plus which has a realtime screener that blocks a whole number of pop-up activated subprograms (most frequently observable via many video selectors). If so, you can try to right-click on it in the task bar and click on the top option to turn it off temporarily. See whether that helps.
Cheers
9' are coming---
wccawa - RDRAM
this is memory that was developed as high speed alternative when DDR was just starting to become main stream. It is based on a proprietary bus protocol developed by Rambus. The event of DDR2 gives similar and better performance in bandwidth. RDRAM was just available earlier and for a time heavily supported by Intel. Now it's a has-been and not many suppliers manufacture RDRAM anymore (same for the chipset to support it). Anything you invest to upgrade the memory would be a lost invest once you retire that 'puter...
Cheers
Does that mean they're going to be late with the 10Q for the first quarter '07?
It was a lightning strike on my system frying one of my 8 USB ports only. All others continued working fine. It would be my guess that spikes on the power lines could do the trick to shorten the life of the ports.
Cheers
sueloan -
you definitely should go with an UPS (there are relatively cheap one's out there like at CostCo) as they will shield you from brown-outs and spikes alike.
And the problems sure sound like they could have been caused by instabilities in your house power supply. And today's cheaper power supplies used in name brands are not exactly helping to mitigate this, either.
Cheers
mdhas55 -
whatever your problems with etrade are they are unique to your account as I just went through the same manual process (calling them for the ID number to be able to vote on proxyvote) and they promptly sent me a link to proxyvote with the ID pre-populated.
But I had to call to get the link although I'm set up for electronic notification and that worked for other stock I own.
Cheers
pj -
Dish Network has been offering this for a while, too. Video on Demand depended on your DVR model but games have been around for a long while now. But as DirecTV only rather simple games are available as the remote is the sole controller available.
To achieve full gaming capability they would have to expand the DVR platform into a full-blown game console ala XBox360 or Wii, at least and that is a cost factor as you can see from what those platforms cost. And that is significant hardware development...
Cheers
Tom -
I was just wondering whether Vitesse will be exposed to full qualification requirements which would mean the share price would be far too low or whether this would not be an issue for relisting (if only catching up with missing filings is required then the share price would just have to climb and stay above $1).
If they'd have to get the share price up (is it above $5 or $4?) will they opt for a reverse split and what would the impact be?
Does anyone know and have any thoughts?
Cheers
Ayock -
the approval is only for the purpose mentioned. Any other use, especially medical, would have to got through another approval process and measuring blood sugar levels certainly falls under that category.
Cheers
0.0046/0.0046 ???
What is going on?
I guess that's the biggest question and we all would like to know for sure...
Cheers
Bruce, PowerPole -
he's getting all of glory DDR functionality but only at the lowest matched speed of 333 MHz. This is an older board and does not deploy dual channel configuration which would require matched pairs to take advantage. This is the equivalent to multi-bank operation when a DIMM was referred to as a memory bank (before introducing synchronous DRAM) and allows for a better chance to avoid the wait until the previous access has finished which increases throughput.
Cheers
Unfortunately this is nothing new, question is, will he really followup on this or is this another futile attempt to stir things up or even mislead stockholders. Nobody really knows at this point and we'll just have to wait and see...
If he indeed is willing to listen to outside advisers for a change and the financials are correct then things should indeed look brighter down the road.
Cheers
News -
>>Veltex Forms Special Committee to Consider Strategic Alternatives to Improve Its Capital Structure and Maximize Shareholder Value<<
http://biz.yahoo.com/prnews/061003/latu078.html?.v=78
bige-
why would you do that we'd have to pay for every useless click.
Z-Axis,
that's actually not too bad, only about 142mio dilution in two months 7/6 to 9/6. We had higher dilution rates than that if memory serves right
Cheers
MrSparks -
no press releases or such but a reference in a FAA document. Here is the web address:
http://registry.faa.gov/MicroFiche/adaqcp80.pdf
then just search the PDF for riverhawk
Cheers