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In around .77 per share. Started positions in CBK, PIR, RAD, etc also. Hopefully something takes off over the next few years..
Chugga Chugga Chugga Chugga Chew Chew
$2.61 volume 3,900,000
Quote
AS OF 12:54 PM ET 05/21/2018
Last [Tick] $2.45
[+]Change. $0.37
% Change. 17.79%
Volume. 3,129,113
Day High. $2.48
Day Low. $2.18
Previous Close $2.08
Prev. Close Date 5/18/2018
They got bought out. Putting half of my huge gain on EGY.
I bought a truck load of EGY this morning. Profitability is back. Very high buy ratings from the professionals. Paying off debt. Huge volume. Trump backing out of the Iran treaty. If it goes to $20 over the next 9 years, I will be happy. Would like to buy another bunch of stock equal to another truck, but one never knows for sure how these things turn out.
Marker:
Ticker: SDRDW warrants to purchase common stock at $42.03 strike price expiring on October 4, 2022.
SDRWW warrants strike: $41.34
Sold some warrants today at $43-$46 per share. Most likely a 10 bagger. USCR stock price almost $70/ share.
$7.83:)
I am in.
Still here:)
$6.23
I am long since December 2008. In my retirement account. I see no reason to sell for many more years.
Current price $5.14/ share.
Boom. Boom. Chuga chuga boom boom.
Current price $4.20 / share.
I was thinking about the forecast earnings per share estimate along with all the analysts recommending this. (I initially replied before looking at the share price. I have been on vacation. I guess the beers are on me).
I bought some shares at the ask of $2.51 and it took 5 minutes to fill.
Looks like it was a 15 to 1 reverse split. As long as you get 15 more equal distributions, you should be ok.
My prediction:
Each AAMRQ share will have to go thru a 1 for 15 reverse split. Each current AAMRQ share is worth $1.52.
Had a situation with XRM where the current share holders would end up getting 17 percent of the new company. There was a 1 for 20 reverse split.
This is from XRM's press release from years ago:
In connection with the Company’s plan of reorganization, declared effective as of today:
The Company has exchanged approximately $620 million of existing debt for approximately $10 million in cash, $410 million in new term loans maturing in 2015, and approximately 82.6% of the common stock of Xerium.
Shares of the Company’s common stock held prior to today’s effective date have been cancelled and replaced with shares of new common stock that will commence trading on the New York Stock Exchange under the existing ticker symbol “XRM.” A total of 20 million shares of new common stock have been authorized. Shareholders of record prior to the effective date will receive new common shares representing approximately 17.4% of the issued and outstanding shares, which is equivalent to a 20-to-1 reverse split of the Company’s cancelled common stock. Shareholders of record will also receive four-year warrants to purchase up to an additional 10% of the fully diluted and outstanding shares of new common stock on the effective date.
The Company has obtained a financing facility providing revolving loans of up to $20 million and a term loan of $60 million, to be used to fund its emergence from chapter 11 and provide ongoing working capital requirements.
Current price $3.68.
$12.55 buyout.
$10.38/ share.
Warrants are getting close... Current stock price $20.28 USCR.
Closed Friday at $9.87.
I see that (ambulance chasers).
$10.00
Real-Time Quote
As of 08/22/2013 3:42pm ET
LITB
USD LightInTheBox Holding Co Ltd
Last [Tick] $10.00[+]
Change Down -$1.12
% Change Down-10.07%
Bid [Tick] 9.97
Bid Size 1
Ask $10.00
Ask Size 60
Open $11.28
Volume 3,189,890
Day High $11.30
Day Low $9.95
Previous Close $11.12
Prev. Close Date 08/21/2013
Blown below the $12.50/ Pinning the 10. ($10 put option expiration Friday night.) End Friday night $9.75 to $10.25/ Probably $10.00/ share plus or minus 8 cents.
LITB
USD LightInTheBox Holding Co Ltd
Last [Tick] $10.17[-]
Change Down -$0.95
Current price $2.53.
Lee Enterprises Seeks to Pay Down Secured Loans to Reduce Debt
By David Holley - Jul 29, 2013
Lee Enterprises Inc. (LEE), the owner of local newspapers in the U.S. Midwest and West Coast, is seeking to repay secured obligations to reduce its debt load.
The owner of the St. Louis Post-Dispatch may target a $621 million term loan that matures in December 2015, paying interest at 6.25 percentage points more than the London interbank offered rate, according to Carl Schmidt, chief financial officer of the Davenport, Iowa-based company.
Lee, which completed a bankruptcy reorganization in January 2012, is planning to reduce the ratio of its total debt to earnings before interest, taxes, depreciation and amortization to less than 2 times, Schmidt said in a July 25 telephone interview. The company’s leverage was 5.4 times as of March 31, according to data compiled by Bloomberg.
“We’re continuing to monitor the credit markets and talk with bankers to see what our options are,” Schmidt said. The company will seek to refinance the term loan by 2015 at the latest, he said.
The first-lien obligation, which was arranged by Deutsche Bank AG and Goldman Sachs Group Inc., was quoted at 99.1 cents on the dollar today, Bloomberg prices show.
Lee had $876.1 million of total debt as of March 31, down from $1.4 billion in the third quarter of 2008, Bloomberg data show. Net income dropped $16.7 million in 2012, narrower than the $146.9 million loss in the prior year.
“We’ve been very focused on paying down debt and have been aggressively doing that,” Schmidt said. “We would expect to continue to do that.”
To contact the reporter on this story: David Holley in New York at dholley8@bloomberg.net
To contact the editors responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net
$2.55-$2.65???
I bought a couple of years ago around 0.60 to $1.30 range. After I bought, they declared bankruptcy. I kept the shares based on a gut feeling, and added more. I cannot tell anyone that $3.10 is a good place to buy, because it could swing down before it climbs back up. I am just happy that the company is turning it around.
Lee Enterprises reports improved earnings for June quarter
BY Hugin
— 9:00 AM ET 07/23/2013
DAVENPORT, Iowa (July 23, 2013) -- Lee Enterprises, Incorporated (LEE) , a major provider of local news, information and advertising in 50 markets, reported today that earnings for its third fiscal quarter ended June 30, 2013, totaled 3 cents per diluted common share, compared with a loss of 3 cents a year ago. Excluding unusual matters, adjusted earnings per diluted common share totaled 6 cents, compared with 3 cents a year ago.
"Continued digital growth and cost reduction again resulted in strong, and improving, cash flow and operating income, enabling even faster debt reduction," said Mary Junck, Lee chairman and chief executive officer. "Looking ahead, we see many more digital opportunities, especially in subscription revenue, mobile advertising and digital marketing services."
She also noted:
* Total digital revenue for the quarter, including advertising, subscriptions and all digital businesses, totaled $19.9 million, an increase of 4.9% from a year ago.
* Mobile advertising revenue increased 89.2% over a year ago, to $1.5 million.
* Preprinted advertising revenue continues to grow, up 1.7% for the quarter compared with a year ago.
* Lee expects 2013 full year operating expenses, excluding depreciation, amortization and unusual matters, to decrease 4.5-5.5% from their 2012 level, improved 1% from previous guidance of a decrease of 3.5-4.5%.
* Interest expense decreased 10.1% for the quarter compared with the prior year quarter as a result of overall debt reduction and refinancing of the Pulitzer Notes in May 2013.
* Debt reduction in the quarter totaled $19.5 million. Since completion of refinancing in January 2012, debt has been reduced $122 million to $873.5 million.
THIRD QUARTER OPERATING RESULTS
Operating revenue for the 13 weeks ended June 30, 2013 totaled $167.0 million, a decrease of 2.8% compared with a year ago. Combined print and digital advertising and marketing services revenue decreased 5.7% to $113.6 million, with retail advertising down 4.2%, classified down 8.4% and national down 14.9%. Combined print and digital classified employment revenue decreased 11.1%, while automotive decreased 11.8%, real estate decreased 2.5% and other classified decreased 6.2%. Digital advertising and marketing services revenue on a stand-alone basis decreased 0.2% to $16.9 million. Print advertising and marketing services revenue on a stand-alone basis decreased 6.7%. Subscription revenue increased 3.5%.
Operating expenses, excluding depreciation, amortization and unusual matters, decreased 4.1%. Compensation decreased 8.3%, with the average number of full- time equivalent employees down 8.4%. Newsprint and ink expense decreased 15.3%, primarily a result of a reduction in newsprint volume of 11.9%. Other operating expenses increased 4.2%.
Operating cash flow increased 5.6% from a year ago to $39.8 million. Operating cash flow margin increased to 23.8% from 21.9% a year ago. Including equity in earnings of associated companies, depreciation and amortization, as well as unusual matters in both years, operating income increased 16.1% to $26.9 million in the current year quarter, compared with $23.2 million a year ago. Non-operating expenses, primarily interest expense and debt financing costs, decreased 11.0%, due to lower debt balances and refinancing of the Pulitzer Notes. Adjustments to deferred income taxes increased income tax expense approximately $1 million in the quarter, resulting in a high effective tax rate. The adjustments were made to maximize available fiscal 2012 tax loss carrybacks and also to reflect current expectations related to the company's income tax attributes. Income attributable to Lee Enterprises, Incorporated (LEE) for the quarter totaled $1.8 million, compared with a loss of $1.5 million a year ago.
Picked up another 5000 shares at $1.18.
Read over my previous post that I am replying to. I believe back in the day they sold short 300 percent of the outstanding shares. After the share price tanked, they converted their preferred shares into common shares to cover what was sold short. I could be off somewhat. It was a long time ago.
The company sold itself to another consulting firm and said there was no money left for the shareholders. Don't always trust book values.
Just be prepared to be down $31,000 before you go up your $11,000.
WASHINGTON | Thu May 9, 2013 7:42am EDT
WASHINGTON (Reuters) – Fannie Mae (FNMA.OB), the biggest mortgage-finance company operating under government control, on Thursday said it would pay the U.S. Treasury Department $ 59.4 billion in dividends during the second quarter after recognizing tax benefits it had written down.
The company reported a pre-tax income of $ 8.1 billion for the first quarter and said it was booking an additional gain of $ 50.6 billion by reversing the write down of certain deferred tax assets. That resulted in a net income of $ 58.7 billion, a record for the company, and compared to a $ 2.7 billion profit in the same three month period a year earlier.
I received the proxy today. 1 for 5 or up to a 1 for 15 reverse split. At least they are having a vote this time.
Class A warrants have an exercise price of $22.69 per share. Class B warrants have an exercise price of $26.68 per share. Current price is over $12 per share. (Looking better). Warrants expire August 31, 2017.