BB Liquidating Inc. (BLIAQ)

[fredman]

Blockbuster Management must know the Q1 numbers were better than expected, as the press release to reschedule the annual meeting and avoidance of the reverse split and regained NYSE compliance was 16 days AFTER the quarter ended. Blockbuster is making progress as evidenced by their statement on April 30. I expect Q1 numbers to be good and beat earnings estimates for BBI when the Q1 earnings report is released to the public on Thursday, the 13th.

On April 16, Blockbuster made the following statement:

“As a result of the continued progress on our recapitalization initiatives, we have rescheduled the annual stockholders’ meeting,” stated Tom Casey, Executive Vice President and Chief Financial Officer of Blockbuster Inc. “We believe the additional time will provide us with the greatest opportunity to successfully complete one or more of our ongoing recapitalization initiatives prior to the annual meeting, possibly resolving our NYSE non-compliance and avoiding the need for a reverse stock split.”"

Source: http://www.sec.gov/Archives/edgar/data/1085734/000119312510085815/ddefa14a.htm

On April 30, Blockbuster also made the following statement:

"We are currently exploring a variety of strategic alternatives to strengthen the Company’s capital structure. As a result of the continued progress on our recapitalization initiatives thus far, we believe we may have the opportunity to successfully complete one or more of these initiatives prior to the 2010 annual meeting, possibly resolving our current NYSE non-compliance and avoiding the need for a reverse stock split altogether. As such, the Board contemplates abandonment of the reverse stock split if such recapitalization efforts are successful and the market price of our common stock increases to the point where the reverse stock split would be no longer necessary to regain compliance with applicable NYSE continued listing standards."

Source: http://www.sec.gov/Archives/edgar/data/1085734/000119312510101608/ddef14a.htm