To the down side this ole dead horse is falling
to book value. Maybe, some MM's may enter the
picture with some buy orders before to long..We could use
all the support we could get...This dividend of over
18% will no doubt be cut to about half that...Any
news on the bond yet?
The only dividend that has been "promised" is the
one to be paid on June 30. That one will probably be
paid, but there are no other "promises" out there that
I know of.
Why don't you spare some poor
family the heartache of having to deal with your
personal weakness and just go to jail first why must you
feel the need to hurt others because you were
disappointed. The jails are full of people like you already.
Maybe you should consider counseling.
$482 million in current assets. $1,141 million in
current liabilities of which $620 million is owed to a
bank credit facility. Those junk bonds are just going
to pay off some existing loans and they will never
generate any additional revenue. By the time the tennant
is paid and the preferred shareholders are paid and
uncle sam gets his cut that will leave about 22 cents
for every share currently outstanding. Hence, my
estimate of an 80 cent dividend.
To anyone that is
thinking about buying this stock or has already bought,
this company is very speculative. Chances are it won't
go bankrupt but chances are very good that the
dividend that looks to good to be true will have to be cut
in order for the company to survive.
to call my posts stupid,fine, I don't care. I'm just
trying to read between the lines and trying to see what
is going to happen before it happens. I make a lot
of money buying companies that get shredded by the
market. I bought ASND at 24, MWL at 8 and VRC at 5 1/2.
Now, if by some miracle (and I think it will take a
miracle) the dividend is not cut and is deemed to be safe
then all those people selling yesterday are going to
feel pretty stupid for selling and will buy back in to
lock in that healthy dividend before the price rises
There is just way too much risk to
be buying here. Management competence is in
question, the financial strength of the company is also
questionable and that fat dividend (to me anyway) is in
serious jeopardy. Fridays action after the drop to nine
may have been a dead cat bounce. You only have to
look back a couple weeks on the PZN charts to see what
that's 29.46 cents per share. Now back out what
the debt service would have been at 10.25% and you
will have the difference (about 3 cents a share?). Now
if Doc can put this to work and generate half a
buck, who says capitalism doesn't work?
hmmmm...now I'm not a licensed operator of this
but I'll give it a shot:
$300,000,000 x .115 ~= $34,500,000 (thats per year,
shares outstanding ~= 117,100,000
service ($300M bond issue ONLY) ~= 29.46 cents per
OK, check my math, you guys: did I get the
decimal point this time???
I will committ a crime and go to their
That is how confident I am that ALL DIVIDENDS PROMISED
YEAR will be paid.
By the way, even if
Bond issue is priced at 11.5%, you
talking .03 a share in FFO...FFO now covers
So enough of the swimming with the shark
I JUST DONT WANT TO HEAR IT ANYMORE WITHOUT FACTS.
This would be known, if true, as snatching
victory out of the jaws of defeat. If the company could
get $300 million after all this delay, it would be a
major boost to the company. How sure are you of your
source, and if you have updates, please post. Thank you.
there are a lot of people following this thread,
whether they post or not, who want to understand what is
going on. Posting nonsense like swimmingwithsharks just
did, and several others, is a waste of everyone's
time. If you have to bash Doc, or privatization, fine,
go ahead and vent. But don't post stupid or