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It is our fault for becoming dependent on oil. What will it take for society to realize renewable resources (solar, algae based oil / geothermal, wind. etc etc) are the way to go. The more oil we consume, the more problems we will continue to encounter.
Maybe BP can claim Sovereign Immunity to avoid paying fines.
http://en.wikipedia.org/wiki/Ixtoc_I
Wow the leak looks mega bad now. BP (and probably the rest of the industry) is headed lower.
Another 143 shares of GNPR today were short trades.
Also, Interactive Brokers Lists 15,000 GNPR short shares.
Sources: http://regsho.finra.org/FORFshvol20100528.txt
http://www.interactivebrokers.com/en/trading/ViewShortableStocks.php?key=gnpr&cntry=usa&tag=United+States&ib_entity=llc&ln=
Looks like a DUD to me...
The leaks look worse, imo.
http://mfile.akamai.com/97892/live/reflector:46245.asx?bkup=46260
All 200 shares of GNPR traded today were short trades, again...
I am afraid Genius Shareholders do not stand to benefit from Scratch, as it seems Numark has likely taken over the project.
Source: http://regsho.finra.org/FORFshvol20100527.txt
Sucker rally, imo.
Obstacles Emerge in Blockbuster, Bondholders Discussions
Negotiations between Blockbuster and its largest creditors reportedly hit a snag regarding revised equity stakes and the amount of additional capital bondholders would put into the Dallas-based DVD rental giant, among other issues, according to a Wall Street Journal report.
With more than $900 million in debt (the majority accrued following payment of a handsome dividend to former parent Viacom), Blockbuster has been hamstrung in efforts to rollout a multiplatform distribution strategy — requisite to survival in a rapidly evolving home entertainment market.
Citing sources familiar with the talks, the WSJ reported that one group of creditors owed about $300 million wanted a “lions share” equity stake in the restructured company and was willing to pump in only another $30 million into Blockbuster — $70 million less than what the company needs.
Another group of bondholders owed more than $600 million also wants a majority stake in the new company in exchange for excusing the debt, according to the report.
Blockbuster management has pinned significant hopes on the discussions — even delaying its annual shareholders meeting a month in order to iron out an agreement. A positive outcome to the talks is paramount to Blockbuster’s survival, with ongoing efforts at reducing sales, general and administrative (SG&A) expenses and shuttering underperforming stores seen as secondary in importance, according to some analysts.
“The amount of the debt is a big weight on the company, which they need to remove if they are going to be a viable business going forward,” said Edward Woo, analyst with Wedbush Morgan Securities in Los Angeles.
Woo said Blockbuster’s current business structure — at a time when kiosk rentals and Netflix have gobbled up market share — cannot service interest and principal payments coming due later this year.
Indeed, Blockbuster faces $150 million in debt and principal payments this year and had 146 million available in cash at the end of the first quarter.
“They will either have to improve their business (which is a big challenge) or significantly reduce their interest and principal payments,” Woo said.
Blockbuster shareholders took the hint, sending shares down nearly 20% to close May 26 at 28 cents per share in heavy (10.5 millions shares) trading.
Source: http://www.homemediamagazine.com/blockbuster/obstacles-emerge-blockbuster-bondholders-discussions-19524'
STRONG SELL
All 298 Shares today, as well as all 200 shares on Tuesday of GNPR were short trades.
Source: http://regsho.finra.org/FORFshvol20100525.txt and http://regsho.finra.org/FORFshvol20100526.txt
Something just does not 'feel' right about the recent developments. Genius Products is not in the loop as they were back in February. I still think Genius sold out to Numark, or ran out of funding, imo.
Check out the BP live cam!
It looks like it is leaking everywhere, a major blowout!
STRONG SELL
http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/homepage/STAGING/local_assets/bp_homepage/html/rov_stream.html
"Numark has developed a new full-function dual-turntable controller that enables players to manipulate both turntables simultaneously, which will be available for use with the game on a variety of platforms."
So I take it the single turntable "Scratch Deck" is no longer in the works. The more I read into this, it seems Numark has taken over the Scratch franchise. Quite possibly, Genius ran out of money and sold the franchise?
Genius Is Nowhere To Be Mentioned
It looks like your iPad is going to get a chance to be used more than just email and reading those Twilight books (shudder). Studio 7 and Numark (overseeing publisher) has just released a press announcement that the DJ Hero competition has arisen out of the ashes of major legal snafus for a project on the iPad – minus a high-end turntable. Back in January, Studio 7 had filed a lawsuit against Genius, the secondary publisher, for issues on “not delivering product on time (controller and music), preperation and development of Wii console version only to drop production midway though, then finally trying to cancel relations to company when it seemed the game was a ‘lost cause’.”
Fast forward to now, Genius is nowhere to be mentioned. While the upcoming version – out for the iPhone, iPad, and PC in the Fall – are seemingly without the control deck, there is some obscure references in the release: “Additionally, Numark has developed a new full-function dual-turntable controller that enables players to manipulate both turntables simultaneously, which will be available for use with the game on a variety of platforms.” Now that’s to say that there could be something for the PC in the way of attachment, as there has yet to be any form of mention over a console version that was promised in the beginning.
Source: http://angrybear.org/2010/05/scratch-the-ultimate-dj-moved-to-ipad/
No mention of Genius Products In This Article.
Has Genius Products Sold The Rights To Scratch?
**********************************************************
Scratch: The Ultimate DJ videogame coming to iPad, iPhone, and PC in 2010
Highly Anticipated Videogame Announced for Several New Platforms, Bringing DJ Gaming to Players Anywhere and Everywhere
Numark, the world’s leading manufacturer of DJ technology and the managing partner in Scratch DJ Game LLC, announced today that the highly anticipated Scratch: The Ultimate DJ is now in development for iPad, iPhone and PC platforms, and the game is expected to hit store shelves later this year. Scratch combines free-form DJ tricks with great rhythm gameplay and features songs from the biggest names in Hip Hop.
“Much in the same way Numark sets industry trends in DJ’ing and mixing, Apple is changing the way people think about and interact with portable computing,” said Jack O’Donnell, President and CEO of Numark Industries. “We see innovative new platforms like the iPad as a perfect fit for Scratch: The Ultimate DJ, and we look forward to bringing the excitement and creativity of DJ’ing to gamers of all skill levels across a wide variety of platforms.”
Numark and its sister companies Alesis, Akai Professional and ION Audio have a long history of developing successful products that integrate with Apple mobile devices, including DJ products like the Numark iDJ & iDJ2, portable sound systems like the Ion Audio Block Rocker, professional recording systems like the Alesis iMultimix series, and music production tools like the Akai Pro SynthStation25.
Scratch: The Ultimate DJ is the only game that delivers the thrill of interacting with both classic and modern Hip Hop tracks in new and creative ways. The game allows players to effectively remix the song while they’re playing by mixing their own beats and effects into the track using a hardware peripheral called the Scratch Deck, which blends a touch-sensitive turntable and crossfader with a series of beat pads. The turntable is based on Numark’s professional line of DJ turntables, and the beat pads are identical to the pads on the iconic MPC from Akai Professional, which is the foundation of virtually every major Hip Hop track produced in the last 20 years. Additionally, Numark has developed a new full-function dual-turntable controller that enables players to manipulate both turntables simultaneously, which will be available for use with the game on a variety of platforms.
About Numark Industries
Numark Industries is the world’s leading manufacturer of professional DJ equipment, and is recognized for providing progressive breakthrough technology. Since 1971, Numark has designed and delivered innovative products and numerous music industry "firsts." For more information, visit www.numark.com; images are available at http://www.numark.com/media.
About ION
ION Audio is known for cutting edge consumer electronics and gaming products, including the Drum Rocker premium drum set controller for the Rock Band franchise, which won the Game Critics Award for Best New Hardware Product at the E3 Gaming Expo. For more information, visit www.ionaudio.com; images are available at www.ionaudio.com/media.
About Akai Professional
Since 1984, Akai Professional products have been a staple of modern music both in the studio and on stage. With intuitive design and cutting edge features, Akai Professional is one of the world’s most influential manufacturers of musical electronics. For more information, visit www.akaipro.com; images are available at http://www.akaipro.com/media
About Alesis
Alesis manufactures a full line of professional audio and musical instrument products capitalizing on its strengths in digital, analog, semiconductor, and transducer technologies. Alesis delivers revolutionary product solutions to the music and audio production industries. For more information, visit www.alesis.com; images are available at http://www.alesis.com/media.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6305398&lang=en
Contacts
Numark Contact:
Adam Cohen
Director of Marketing & Business Development
401-658-3131
acohen@numark.com
or
Cashmere Agency Contact:
Brianne Pins
Public Relations
323-252-3633
brianne@cashmereagency.com
Permalink: http://www.businesswire.com/news/home/20100525007337/en/Scratch-Ultimate-DJ-videogame-coming-
Source: http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100525007337&newsLang=en
"Holders of Blockbuster's subordinated debt had proposed receiving about 95% of Blockbuster's equity and a new $125 million senior unsecured payment-in-kind note. In exchange, subordinated debt holders would tender their bonds and contribute $25 million to $30 million in cash."
Looks like STRONG SELL to me.
BOND ALERT BOND ALERT! NEW LOWS SELL SELL SELL
LAST TRADE: 250000 BBI BONDS @ $12.250 157.35%
http://cxa.marketwatch.com/finra/BondCenter/BondDetail.aspx?ID=MDkzNjc5QUMy
Blockbuster Inc. (BBI, BBIB) Chairman and Chief Executive Jim Keyes said Tuesday the movie-rental giant is "progressing well" in various discussions with stakeholders regarding a recapitalization. "We're continuing to make progress," Keyes said in an interview, though he acknowledged there "isn't much new" on the talks since the company's May 13 quarterly conference call. "Our hope is that in time for the shareholder meeting, we'll be able to provide investors with more details about our plans," Keyes said.
"We're pleased with the alternatives we have. We have some favorable options and we are progressing well in various discussions." Blockbuster, which is in the middle of a proxy fight with investor and board hopeful Gregory Meyer, has scheduled its annual meeting for June 24.
Blockbuster is struggling to turn around its declining rental business at stores, fend off competition from Netflix Inc. (NFLX) and Coinstar Inc.'s (CSTR) DVD-kiosk operator, Redbox Automated Retail, and push its own new distribution channels, such as video-on-demand. But weaker-than-expected fourth-quarter results took a bite out of cash, and the company earlier this year warned it may have to file for bankruptcy protection. Keyes on Tuesday again declined to detail any of the options under consideration.
But earlier this month, financial news service Debtwire said holders of Blockbuster's subordinated debt had proposed receiving about 95% of Blockbuster's equity and a new $125 million senior unsecured payment-in-kind note. In exchange, subordinated debt holders would tender their bonds and contribute $25 million to $30 million in cash.
Blockbuster's class A shares recently traded down 7.5% at 34 cents. Its more thinly traded class B shares were down 9.8% at 25 cents.
Source: http://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={b9523fe4-cccc-4270-ad71-93f8d5225897}
STRONG SELL
BP will kill live feed of oil spill
Rep. Ed Markey, D-Mass., has issued a statement on his Congressional website saying that BP will end the live video feed of the oil spill at the bottom of the Gulf of Mexico.
BP informed Markey's office that the live feed would end sometime Wednesday morning and would remain offline until after the attempt to seal the well is completed. Markey chairs the House Select Committee on Energy Independence and Global Warming and the Energy and Environment Subcommittee in the Energy and Commerce Committee.
"It is outrageous that BP would kill the video feed for the top kill," Markey said in the statement. "This BP blackout will obscure a vital moment in this disaster."
The lawmaker added, "After more than a month of spewing oil into the Gulf of Mexico, BP is essentially saying to the American people the solution will not be televised."
Source: http://content.usatoday.com/communities/ondeadline/post/2010/05/markey-bp-will-kill-live-feed-of-oil-spill/1
BOND ALERT BOND ALERT!! BBI BONDS AT ALL TIME LOW
LAST TRADE 1MM+ Bonds @ $12.000 @ 159.437%
NOT GOOD, ABANDON SHIP!!!!!!!!!
STRONG SELL
http://cxa.marketwatch.com/finra/BondCenter/BondDetail.aspx?ID=MDkzNjc5QUMy
Over 58 million gallons of oil so far:
www.wkrg.com/gulf_oil_spill/iframe_ticker
Looks Like It Might Break A Record...
en.wikipedia.org/wiki/Ixtoc_I_oil_spill[/url]
It will take longer to stop the leak than many think, imo.
Cleaning up the spill will cost BILLIONS.
What A Mess!
BP is Toast...
STRONG SELL
BP Sued by Transocean’s Excess Insurers Over Spill (Correct)
Lloyd’s of London asked a U.S. judge to declare that Transocean Ltd.’s excess-insurance carriers have no obligation to cover BP Plc against cleanup costs or damage claims resulting from the Gulf of Mexico oil spill.
BP, which is self-insured against such losses, asked Lloyd’s on May 14 for coverage under policies owned by Transocean Ltd., lawyers for the underwriters said in papers filed in Houston federal court. Transocean owned the Deepwater Horizon drilling rig that was under contract to BP at the time of the accident.
Lloyd’s claims that BP in its contract with Transocean agreed the rig-owner would be held harmless for excess coverage of pollution originating below “the surface of the land or water from spill, leaks or discharges,” according to the insurers’ complaint. Transocean’s excess carriers asked the Houston court to declare that they had “no additional-insured obligation to BP.”
“Because liabilities BP faces for pollution emanating from BP’s well are from below the surface and from BP’s well, those liabilities are not within the scope of the additional insured protection,” Lloyds said in the May 21 filing.
Underwater Lease
BP, which owns the underwater lease, and Transocean, which owned the rig, face more than 130 lawsuits filed by thousands of commercial fishermen, property owners and tourist businesses harmed by oil leaking from a damaged subsea well since the Deepwater Horizon exploded and sank off the Louisiana coast last month.
The underwriters said Transocean’s excess coverage is $700 million.
BP spokesman Scott Dean said in an e-mail May 19 that the London-based energy company is self-insured against losses and damage claims resulting from the spill.
Guy Cantwell, Transocean spokesman, and George Gilly, Lloyd’s lawyer in the lawsuit, didn’t immediately respond to calls for comment.
The lawsuit is Certain Underwriters at Lloyd’s London v. BP Plc, 4:10-cv-01823, U.S. District Court, Southern District of Texas (Houston).
Source: http://www.businessweek.com/news/2010-05-24/bp-sued-by-transocean-s-excess-insurers-over-spill-correct-.html
STRONG SELL
Blockbuster Bonds Headed to New Lows, yields up AGAIN!!!
Last trade: 1M+ $16.00 Bonds @ 131.74%
EOM.
Source: http://cxa.marketwatch.com/finra/BondCenter/BondDetail.aspx?ID=MDkzNjc5QUMy
Nomination Respectfully Declined, eom.
Strong Sell
Aggressively spend discretionary dollars on advertising – Not feasible given our current liquidity constraints which Meyer appears not to comprehend.
Pursue a specific recapitalization alternative proposed "confidentially" by Meyer – Determined to be unworkable by independent financial and legal advisors.
STRONG SELL
All 284 shares traded today in GNPR were short trades.
Source: http://regsho.finra.org/FORFshvol20100521.txt
We are not in the loop since the company went dark / non sec reporting since April 2009. For all we know, GNPR is now a shell.
It appears the board of directors is aligning itself towards a bankruptcy filing due to Blockbusters significant debt levels.
Kathleen Dore, previously of Canwest, was just nominated to Blockbuster's Board of Directors.
Canwest entered creditor bankruptcy protection in late 2009. Canwest's various acquisitions took a significant financial toll. As early as 2002, most of Canwest's operating income was going to pay interest on its high-interest rate debt. By 2007, the company's bonds were downgraded to junk status. By early 2009, it became clear the company's debt was not manageable in light of the global economic crisis, forcing Canwest into an extended set of negotiations with its lenders and a series of cost-cutting moves, ultimately resulting in bankruptcy.
http://en.wikipedia.org/wiki/Canwest
Gary J. Fernandes was appointed as a director of Blockbuster in December 2004. Mr. Fernandes founded Voyagers. Voyagers filed a petition under Chapter 7 of the federal bankruptcy laws in October 2001.
Sources: http://www.sec.gov/Archives/edgar/data/1085734/000119312510126227/ddefa14a.htm
http://www.sec.gov/Archives/edgar/data/1085734/000119312510126227/ddefa14a.htm
STRONG SELL
The recent activity is just games, imo. Probably reaction to my comment on the Bid-Ask spread last night. GNPI is long gone after the reverse split. Yahoo message boards I noticed sometimes does not show the message boards for GNPR from time to time, nothing new. I am afraid GNPR will collapse with no news on Scratch soon.
Last year, Genius Products was trading under the symbol GNPI and was a "fully reporting" company with the SEC. They had investor conference calls and everything. In April 2009, Genius Products underwent a 500 to 1 reverse split, and the symbol changed to GNPR. Around the same time, Genius Products filed a form 15-12G with the SEC, and became a "non-reporting" company with the SEC. In this case, the move from fully reporting to non reporting is a bad thing for investors, as well as the reverse split and the move from pink to current marketplace. Have you had any luck in contacting anyone?
Blockbuster Bonds Headed to New Lows, yields up.
Last trade: 1M $16.437 Bonds @ 129.17%
EOM.
Source: http://cxa.marketwatch.com/finra/BondCenter/BondDetail.aspx?ID=MDkzNjc5QUMy
The Institutional Investors for GNPR listed in the Ibox (or on other sites for that matter) may not be accurate. For all we know, many of the Institutional Investors have already sold, both pre and post reverse split. With 135k OS shares, I think it is entirely possible...
I tried to contact Bedlam Games too, with no such luck. Interesting avenue you are looking into re: "website updates". Hopefully Genius still has an "Investors Relations" department. If not, maybe you could contact Genius Products directly? Hopefully Genius Products is still in business!
Genius Products
Corporate Office:
Genius Products, Santa Monica
3301 Exposition, Suite 100
Santa Monica, CA 90404
Phone: 310-401-2200
:o/
John Mills is the contact person for Investor Relations of Genius Products.
For all Investor Relations inquiries please contact:
John Mills / Anne Rakunas
Phone: 310-954-1100
Website: icrinc.com
Source: http://www.geniusproducts.com/dyncontent.aspx?pagename=investor%20relations
On the icrinc.com webpage, it lists the following office location:
Los Angeles
12121 Wilshire Boulevard
Suite 300
Los Angeles, CA 90025
Tel: (310) 954-1100
Fax: (310) 954-1101
Source: http://icrinc.com/web/contact.php
While you are at it, could you please call Bedlam Games, and see if they can give you an update on Scratch?
Bedlam Games Inc.
55 Mill Street, The Stone Distillery
Bldg 5, Suite 300
Toronto, Ontario
M5A 3C4
Phone: (416) 214-9888
Fax: (416) 214-2437
Source: http://bedlamgames.com/
Thanks and good luck!
Most (non short) trades recently are low volume, 100 share blocks. Like I said earlier, those (non short per FINRA) 100 share blocks could be forced short covering, or just MM games. Not many buyers are willing to step up to the plate, as evidenced by the disparity in the bid-ask spread over the past few weeks. Did you also notice the 2 extremely low trades on the 14th? It almost reminds me of the 1000 point drop we had on the DOW last week, that preceded the recent declines in the DOW. It could be a MM signal of some sort, meaning GNPR is headed much lower. I hope you are right, but the lack of updates from the company for over 3 MONTHS is alarming to say the least!!!
GLTY
Google Set to Bow ‘Smart TV’ with Blockbuster On Demand!
Google, together with Sony and Intel, reportedly will announce plans to incorporate Internet-based software into a set-top box that would allow users to control programming on their television and Web-enabled devices, including Blu-ray Disc players.
Dubbed “Smart TV,” the Android-based platform would attempt to usurp Apple’s little used eponymous Apple TV platform to gain traction in what many observers believe will soon be burgeoning demand for user-access-and-control of Web-based entertainment and movies on the TV, according to media reports.
Users could theoretically toggle between YouTube videos, Netflix movie streams, Amazon video-on-demand (VOD), Vudu, Blockbuster On Demand, etc. The platform would enter a growing market that features Internet-enabled media devices such as the Roku player, a pending Boxee set-top box, TiVo and Apple TV.
The Mountain View, Calif.-based search behemoth will disclose further specifics of the platform, among other news, at its annual developers confab through May 20 in San Francisco.
Logitech is reportedly developing a remote for Smart TV, including a virtual keyboard, according to Bloomberg.
Intel CEO Paul Otellini, who characterized video as “the driver” for Internet traffic during a May 11 analyst call, also hinted at the existence of “Smart TV.”
“The television revolution we are about to go through is the single biggest change in TV since it went [to] color,” Otellini said.
Source: http://www.homemediamagazine.com/sony/google-set-bow-smart-tv-19436
STRONG BUY!
NCR to Acquire Blockbuster Properties?
Fallout from Wal-Mart’s acquisition of movie download service Vudu took a speculative turn Feb. 23 when Bill Nuti, CEO of NCR Corp., told Bloomberg News the kiosk manufacturer was willing to spend millions to acquire third-party digital and by-mail rental properties.
Since Duluth, Ga.-based NCR currently has a license to manufacture, roll out and operate Blockbuster Express DVD rental kiosks, Gil Lauria, analyst with Wedbush Morgan Securities in Los Angeles, said it wouldn’t be improbable for the company to spend upwards of $100 million acquiring Blockbuster’s by-mail and on-demand services, if the opportunity presented itself.
Indeed, Dallas-based Blockbuster, which reports fourth-quarter results Feb. 24, remains saddled with significant debt and limited resources required to implement an ambitious multi-channel distribution network involving stores, by-mail, digital (including mobile phones) and kiosks.
“There are a number of opportunities we have to expand into,” Nuti told Bloomberg. “We’re looking at some today, and we’ll continue to look at some over the longer term.”
Lauria said NCR and Blockbuster have become mutually beneficial to each other, with the former eyeing an expanded presence in the rental market, and Blockbuster coveting strong third-party support.
“NCR at some point may decide to buy any piece of Blockbuster, depending on what happens to the company financially,” Lauria said. “NCR is worried about its own business, and they are ready for any [third-party] scenario Blockbuster might entertain. If Blockbuster was to get in [further] trouble, NCR would be able to take some of those pieces.”
Blockbuster spokesperson Michelle Metzger said she couldn’t comment on NCR’s business strategies.
“We are pleased with the progress of our partnership with NCR in the Blockbuster Express kiosk program and look forward to continuing that relationship,” Metzger said.
Source: http://www.homemediamagazine.com/kiosk/ncr-acquire-blockbuster-properties-18540
STRONG BUY
Twelve Months Cash Flow from Operations Turns Positive for Blockbuster
New York, NY, May 19, 2010-CFFO-NEWS reports that Cash Flow from Operations (CFFO) for Blockbuster Inc. (NYSE:BBI) for its twelve months ended March 31, 2010 was a positive $65,700,000, compared with a negative Cash Flow from Operations of $(16,700,000) for the comparable year earlier twelve months.
For Blockbuster's quarter ended March 31, 2010 Cash Flow from Operations was $(50,800,000), compared with $(87,200,000), a 42% improvement over the comparable year earlier quarter.
The shares of Blockbuster were recently trading at $0.38.
Source: http://www.stocktrendnews.com/index.php?fuseaction=public.showView&story_id=741880
Strong Buy
Forced short covering, maybe? At any rate, with no further updates on Scratch, we may see a rush to the exit, imo.
Still no news on Scratch. The 100 share blocks are likely shorts, imo.
I have tried on numerous occasions to contact Bedlam Games, the developer of Scratch.
Bedlam Games phone number is (416)214-9888
I suggest contacting them for more details on the release date of Scratch. I have called several times, and I keep getting the run around.
Please post is you hear anything from Bedlam RE: Scratch, TIA!
Gotta love the cheapies. Notice how after 6 million shares, the volume dried up. Large holder wanted out, great opportunity! ;oD