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OSH 1 LIQUIDATING Message Board

  • sbull1751 sbull1751 Apr 26, 2013 5:30 PM Flag

    Don't trust this incompetent management. DON'T BUY!

    8K - There is no assurance that the Company will be able to comply with all of the terms and conditions of the Waiver, including reaching the above-referenced agreement with the Term Loan lenders, and any such agreement is likely to be significantly dilutive to the Company's stockholders or even lead to a complete loss of their investment.

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    • PLEASE READ 8K carefully.

    • matthew.epps@ymail.com matthew.epps Apr 26, 2013 6:22 PM Flag

      One might expect it to bump back to where it was before the WSJ article as we're right back where we were though, eh? But we have 9-11% estimated comp store sales growth with only 10% of the store base converted. What's the math on that? 30 -40% comp growth in remodeled stores? I personally would strongly consider participate=ing in a right offering @ $4-ish with Ares and/or management backstopping for the $58MM. Easily done and then we've got a hyper growth regional to national story with exposure to housing.

      Sentiment: Buy

      • 1 Reply to matthew.epps
      • We don't know what is being driven by 1) the new store design; 2) having potentially less stores undergoing remodel; and 3) the recovering CA housing mrkt and broader CA economy. At this point in the distress cycle, it hardly matters though. It's just about proving that they can pay the bills. Also do they always have this many promotions and advertisements?