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More bad news SORRY!!
News Today at 12:19 pm
The following is a press release from Standard & Poor's:
-- J.G. Wentworth LLC announced that it has entered into a restructuring
agreement with lenders holding over 87% of the aggregate amounts outstanding
under the company's secured credit facility.
-- The company will undertake the restructuring through a prepackaged
Chapter 11 bankruptcy.
-- Accordingly, we are lowering our issuer credit and issue-level debt
ratings to 'D' from 'CCC-' because we expect the bankruptcy to mean a general
default.
NEW YORK (S&P Global Ratings) Nov. 13, 2017--S&P Global Ratings said today it
lowered its issuer credit rating on J.G. Wentworth LLC (JGW) to 'D' from
'CCC-'. At the same time, we lowered our issue-level rating on the company's
senior secured debt to 'D' from 'CCC-'. The recovery rating remains at '4',
indicating that creditors could expect average 30% recovery.
Our rating action reflects the company's announcement that it is filing for
Chapter 11 bankruptcy. JGW's planned terms for restructuring propose cash
consideration for senior secured debtholders of the lesser of $45 million and
the aggregate amount such that at least $50 million of pro forma liquidity be
maintained on the company's balance sheet, as well as 95.5% of the reorganized
company's new common equity. In addition, the company will reappoint its board
of directors to reflect the new ownership after the restructuring. The company
expects to emerge from Chapter 11 in or around January 2018.
-- Our simulated default scenario contemplates a payment default in 2017.
-- We assume a reorganization following the default, using an emergence
EBITDA multiple of 4x to value the company. The lower multiple reflects a
weaker business risk profile than peers'.
Simulated default assumptions
-- Simulated year of default: 2017
-- EBITDA at emergence: $37.7 million
-- EBITDA multiple: 4x
Simplified waterfall
-- Net enterprise value (after 3% administrative costs): $146.4 million
-- Senior secured debt: $471.1 million
--Recovery expectations: 30%
RELATED CRITERIA
-- Criteria - Corporates - General: Recovery Rating Criteria For
Speculative-Grade Corporate Issuers, Dec. 7, 2016
-- General Criteria: Post-Default Ratings Methodology: When Does S&PGlobal Ratings Raise A Rating From 'D' Or 'SD'?, March 23, 2015
-- Criteria - Corporates - General: Methodology And Assumptions:
Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014
-- Criteria - Financial Institutions - General: Issue Credit Rating
Methodology For Nonbank Financial Institutions And Nonbank Financial Services
Companies, Dec. 9, 2014
-- Criteria - Financial Institutions - Finance Companies: Key Credit
Factors For Financial Services Finance Companies, Dec. 9, 2014
-- General Criteria: Group Rating Methodology, Nov. 19, 2013
-- Criteria - Corporates - General: Corporate Methodology, Nov. 19, 2013
-- Criteria - Corporates - General: Corporate Methodology: Ratios And
Adjustments, Nov. 19, 2013
-- General Criteria: Methodology: Management And Governance Credit
Factors For Corporate Entities And Insurers, Nov. 13, 2012
-- General Criteria: Criteria For Assigning 'CCC+', 'CCC', 'CCC-', And
'CC' Ratings, Oct. 1, 2012
-- General Criteria: Use Of CreditWatch And Outlooks, Sept. 14, 2009
-- General Criteria: Rating Implications Of Exchange Offers And Similar
Restructurings, Update, May 12, 2009
Certain terms used in this report, particularly certain adjectives used to
express our view on rating relevant factors, have specific meanings ascribed
to them in our criteria, and should therefore be read in conjunction with such
criteria. Please see Ratings Criteria at www.standardandpoors.com for further
information. Complete ratings information is available to subscribers of
RatingsDirect at www.capitaliq.com. All ratings affected by this rating action
can be found on the S&P Global Ratings' public website at
www.standardandpoors.com. Use the Ratings search box located in the left
column.
Primary Credit Analyst: Diogenes Mejia, New York 212-438-0145;
diogenes.mejia@spglobal.com
Secondary Contact: Stephen F Lynch, CFA, New York (1) 212-438-1494;
stephen.lynch@spglobal.com
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Copyright (c) 2017 by Standard & Poor's Financial Services LLC.
All rights reserved.
(END) Dow Jones Newswires
11-13-17 1219ET
SEC Charges: False Tweets Sent Two Stocks Reeling in Market Manipulation
https://www.sec.gov/news/pressrelease/2015-254.html
Fake Tweets Sink Stocks: What Happens When Scammers Impersonate Research Firms
http://www.finra.org/investors/fake-tweets-sink-stocks-what-happens-when-scammers-impersonate-research-firms
Manipulation
https://www.sec.gov/fast-answers/answerstmanipulhtm.html
Please you reread filing
Gap then down as usually
Really haha
Bulova Technologies Group, Inc. Receives Lawsuit
November 13, 2017 08:00 ET | Source: Bulova Technologies Group, Inc.
161,906 buy vs 3,040,431 SELL
Not surprised CAVEAT EMPTOR forever!!!
HAON share buy back scam
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=135813260
It is because market value $1,816,737
Nice DD
Legacy Education Alliance – An Attractive Hidden Gem
Mar. 27, 2017 5:00 PM ET|Includes:Legacy Education Alliance, Inc. (LEAI)
KEY POINTS
> Legacy Education Alliance announced this week that it has settled credit card litigation and will receive an aggregate sum of $5.0 million in the settlement.
> The settlement will impact the company s 4Q17 financial statements. We estimate that the funds will equate to a one-time EPS benefit of $0.18 to $0.22 per share.
> The settlement funds will bolster the company s cash reserves that it can tap to further its growth initiatives.
> Consistent with the company s goal to be the leading global provider of services and products that enable people to assume control of their finances, Legacy has implemented several growth initiatives. These include international expansion and increased focus on enhancing the online delivery of its courses in order to provide greater flexibility in a digital world.
> Thus far, the company s measures have resulted in strong growth. For example, in the first half of 2017, Legacy s total cash sales advanced 16.4% year-over-year to $51.2 million.
> The company expects to achieve continued growth and margin expansion through product mix shifts, as it expands its online course delivery and evaluates opportunities to expand its course offerings, and brand development and price level improvements.
LEAI: Settlement Funds Bolster Company’s Growth Capital
Zacks Small Cap Research
November 3, 2017
A/S increase
Around 33 subscription per Q, $3000 / 3 months = $1000 / $30 per month = 33
Going Concern
These financial statements have been prepared on a going concern basis, which implies the Company will continue to meet its obligations and continue its operations for the next fiscal year. Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. As of July 31, 2017, the Company has a working capital deficiency and has an accumulated deficit of $20,127,709. The continuation of Viva Entertainment Group as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern.
More than double, an increase of 323.43%
October 31, 2016 -$4,753,478 to July 31, 2017 -$20,127,709
That was so terrible financial.
It may be rejected because it is expired.
News out - Metatron Inc. (MRNJ) Announces a New ICO Tracking App for Bitcoins and Others with The Real Start Company
2017-11-03 09:30:07 AM ET (ACCESSWIRE)
News out - B2Digital to Sponsor Hardrock MMA 94 in Bowling Green, KY
2017-11-03 09:00:19 AM ET (Marketwired)
$LEAI Company to Receive Five Million Dollars in Settlement
http://www.businesswire.com/news/home/20171101006685/en/
http://www.otcmarkets.com/stock/LEAI/profile
$LEAI - Legacy Education Alliance, Inc. Announces Settlement of Credit Card Reserve Account Litigation
http://www.businesswire.com/news/home/20171101006685/en/
http://www.otcmarkets.com/stock/LEAI/profile
$LEAI - Legacy Education Alliance, Inc. Announces Settlement of Credit Card Reserve Account Litigation
http://www.businesswire.com/news/home/20171101006685/en/
http://www.otcmarkets.com/stock/LEAI/profile
Legacy Education Alliance, Inc. Announces Settlement of Credit Card Reserve Account Litigation $LEAI
http://www.businesswire.com/news/home/20171101006685/en/
http://www.otcmarkets.com/stock/LEAI/profile
Business License is expired http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=q27gGTSd7kSBtjyj31cCCA%253d%253d&nt7=0
I dont think it is good health!! NVSOS expired 10/31/2016, OTC Market label stop sign (Dark or Defunct) and Securities registration termination [Section 12(g) in 2017-10-16
No AS increase because it is not active and expired 10/31/2016
Where did you check?
Did u dumped 25m 2s at 9:50:49 am?
That's worth $25 haha
That's not news! Someone else tweet.
Yeah they need shares because 5s not enuff shares!!
It was a lovely GREEN day Yesterday. :D