Could be a ltough day today with BBRY disappointment. They traded up into the earnings but miss on earnings with no breakout of 10 handsets in 6.8m total. Lots of hiring at NIM for this bus as well as the QNX
I sold a lot of 1200 this morning at $2.40. I am tired of holding this POS. I have another 1500 I plan on unloading at $2.50. Tired of disappointment. I am not sure they will ever break out and get into the $3's. Good luck to all.
Took a quick look at the press release. This doesn't address the converts o/s of $93.5m. The 12/31 term loan balance of $40m was paid off. It had a 2014 maturity which moved out to 2017 upon the refinancing of converts. They pulled out $56m to pay off the $40. Net/ Net they added $16m of debt while eliminating the principal payback of $40 due next year. No info on what the delayed draw available credit of $43.5m is for but seemed likely it has to do with their work on the converts. Revolver of $30m appears to be addiltional credit capability with an additional kicker upon certain conditions.
This looks like it sets the stage to resolve the convert payables due next year, but as of now, it's still o/s and due in nov-14
mypit- this stock generally trades anemically... it was $2.29 five trading days ago. It will continue to meander until the company and it's leadership not only provide the market with hope og growth and then executes...then it will return back to upper single digits.