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1.4 cancelled. Stolen from shareholders and now taken away by the FEDS. Karma.
2.0 given the waiver for nationwide "unrestricted"terrestrial downlink is probably worth 12B on the low end alone.
Internet of Things
Trillions to the economy
Myriad of applications, need more pathways
Looks like the 1.375B for the 2.0 was merely a downpayment. The swath is probably worth 10B.
Balance due?
If that is the case, I promise to brush up on my Spanish.
I guess we'll find out soon enough.
This new third party financing is interesting. Wonder who this is? Something tells me it is not a bank.
In March of 2013 when the stock stopped trading, the value of the company was around 6 million.
Fast forward to now, the 2.0 swath is magically worth 10 billion , per Trefis, after Dish paid 1.8B and this does not include the 1.4 and 1.6 which are all assets of the estate and its beneficial owners.
Seems like we do have a past due invoice with a balance due of well north of 6 million and our shares on ice with the DTC.
For billionaires, paying $1000 an hour to keep kicking the can down the road is no problem. Just using the courts to buy time. We'll see what kinds of excuses they come up with next.
Kinda saw this coming. Two weeks is a pretty short extension.
I guess they need more time dotting the i's and crossing the t's on something.
It all roles up to the estate which is Terra corp and its beneficial owners. The beneficial owners have a lien on the assets.
If Dish wants it outright without encumbrances, they need to pay a lot more than the down payment they put on the 2.0. A lot more.
IMHO
Echostar
"became" the second largest shareholder of Terrestar in 2011. Now why anyone want to be a large a shareholder in a company that is in BK?
Until they get an extension, it is T minus 20 days.
Seems like something has to shake loose before the 30th as technically they will be insolvent after this point.
Apple and Samsung all over health monitoring gadgets, apps.
Wonder what airwaves are allocated to support this service?
All good.
As far as investor, I would say some entity that that feels the existing telco and cable complex is in their way.
Looks like Falcone is going after the FCC for breach of contract on the L band use and GPS issue. It appears an act of desperation as he is running out of mulligans.
It appears the best scenario for him and us if someone takes out the prepetition (which includes Ergen's debt) and buys us out. Much cleaner or else a major land grab fight and more money sucked out of the estate.
IMHO of course
I agree that all roads lead back to the estate. It's just a matter of when and at what price.
Another fly in the ointment means everyone gets squeezed more. With no FCC approval,yet, the ceiling is also low.
At least this is how I see it.
I know I have said this before.
Considering the market opportunity for OTT services with video, volte, security, medical monitoring, automobile, in flight applications , the consumer dollars migrating to these services on a global scale appear to justify such valuations of said assets that will be delivering such services.
I think some major hitters are involved and I am not talking about traditional telco providers if this is truly a wholesale model.
We will see.
If it were a "realized" loss, then yes, it would be worthless.
Don't the covertible A and B convert? Maybe another 100 million added to the pile or around 240m shares. So a buck means 240 million. Bottom line worth a lot more than a buck after you back out the debt. I. Other words enterprise value I would exceeds 740 million 500 debt + 240 at a buck by a long shot.
Considering the market opportunity for OTT and other applications riding these airwaves. Not entirely out of the realm of possibility as that business will be a 12 figure industry.
Would like to see some nice wholesale deals like viasat
Bankruptcy is also a wonderful way to steal shares on the way down by making the stock as valueless as possible.
Bottom line when the dust settles a distribution to the estate to the beneficial owners. When and how much ????
Sounds good
Cool. I am on Expedia, tell me when where what for.
Awesome. Look forward to it.
Agreed LT.
Things are getting hot with Dish/Disney OTT TV anywhere transformation. I wonder what airwaves all these downloads will ride on.
How about the sale of towers for just under 5B to Crown Castle. They are also building out Advanced LTE using Carrier Aggregation technologies with pairing disparate bands. Sounds to me they could be positioning themselves to join the party imho.
Shares traded after the filing as they usually do. Shares are the same color pre and post.
Shares are shares. Issue is dilution , triggers with preferreds and NewCo shares , payout???
No clue on how it breaks down.
Let's see based on known variables.
7.7 Billion valuation x 80% ( equity interests in NewCo)
= 6.1 Billion for Existing equity interests of NewCo
We might not be first class, but business class possible and Economy looks very good.
Yes.That is my thinking.
We will see.
Your guess is as good as mine or anybody's on valuation. Low point appears to be 6B and that's probably not including 1.4. So if this true, there should be recovery. As for the shares removed, there is still the issue of buying the company. That is the answer to everything as the assets transferred to LS are ours. So balance due on the invoice.
What I am fixated on is the treatment of classes table in the proposed reorg on the 800 page doc. It appears existing common get 30% NewCo common B shares and recovery TBD?
How many B and C shares? Are we on the 80% side thus 20% dilution of ownership of NewCo.
Looks like this encompasses both 1.4 and 1.6. IMHO
Thoughts?
What about the 2.0 worth 4-5 times now what Dish paid. Throw that on the pile.
Removed, conveyed, assigned , stolen ,borrowed. Whatever you want to call it.
Yes
Looks like there is an open invoice with a substantial balance due in one form or another.
Between 6-9 B per Moelis there financial advisors. I think its in the Doc, but it references it in a Reuters article
http://mobile.reuters.com/article/idUSBREA1E10120140215?irpc=932
Look at the class list and treatments. It's all there.