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Wireless Ronin Technologies Inc. Message Board

caustic_fred 8 posts  |  Last Activity: Jun 6, 2014 6:38 PM Member since: Jan 3, 2010
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  • Reply to

    no news…… ?

    by jameskalcheim Jun 5, 2014 9:33 AM
    caustic_fred caustic_fred Jun 6, 2014 6:38 PM Flag

    Lenders get to choose between the forbearance fee and the release of warrants, but don't get both. Lenders with warrants will choose exercise of warrants since EGLE will sure offer to pay the fee in PIK rather than cash.

  • Reply to

    no news…… ?

    by jameskalcheim Jun 5, 2014 9:33 AM
    caustic_fred caustic_fred Jun 6, 2014 6:38 PM Flag

    You are correct, the original strike price of $0.01 remains. But seriously up1.down2, aren't $0.01 shares about the same as free shares? Either way, 2 million freshly printed shares hit the market shortly after June 27.

  • Reply to

    $100,000.00 INVESTED IN NEWL ON 01/02/14 IS WORTH..

    by delanet98 May 21, 2014 12:45 PM
    caustic_fred caustic_fred May 21, 2014 1:03 PM Flag

    Last Friday 5/16/2014 NEWL opened at $0.47 and today 5/21/2014 it opened at $4.74. Do you REALLY need to be shown how a $100,000 investment at $0.47/share is worth over $1,000,000 at $4.74/share?

  • Reply to

    Earnings tonight!

    by qtip_head May 16, 2014 3:40 PM
    caustic_fred caustic_fred May 16, 2014 4:29 PM Flag

    10-Q was released 5 PM yesterday. The 1Q0214 EPS was a loss of $1.32 per share.

  • Reply to

    Another Extension To Document a Restructuring

    by markettrader61 May 15, 2014 10:13 PM
    caustic_fred caustic_fred May 16, 2014 8:12 AM Flag

    One of the conditions for receiving the extension was that EGLE must pay all of the lenders legal bills to date. With EGLE paying the bills, the lenders can afford to put the best most-expensive negotiators on the case. With every passing quarter the covenants constrict further. Shareholders have no escape, but I think you're better off writing naked calls than buying puts. Let the time premium work for you and get paid while watching them squander away any remaining value.

  • caustic_fred caustic_fred May 8, 2014 9:47 AM Flag

    The 10-K for 2013 was filed on 3/3/2014. It indicated that there were over 56 million shares outstanding at the end of 4Q2013. The cashflow statement in the 2014 10-K shows $136.98 proceeds from issuance of common stock. It also shows $146.598 spent on purchase of new vessels. These results are audited.

    Junior Mills - How can you seriously suggest that the proceeds from stock sales vanished?

  • Reply to

    Management bonuses for an excellent 2013

    by caustic_fred May 1, 2014 8:43 AM
    caustic_fred caustic_fred May 2, 2014 3:08 PM Flag

    A Yahoo quote on GNKOQ will show a link to yesterday's Wall street Journal article on executive compensation prior to bankruptcy. "Among the items reimbursed were two sets of tickets for sporting events for $270,113.40 and $115,762.60 each."

  • The 10-K/A filed on 4/30/2014 revealed management bonuses for their excellent performance in 2013. The CEOs $900,000 salary was supplemented by a well-deserved $600,000 bonus. The CFOs salary of $350,000 was topped off by a whopping $650,000 bonus. Some may question why the CFO deserves a bonus that is 185% of his salary in a year when the company slid to the brink of bankruptcy and the CFO failed to refinance the debt. For anyone that has such doubts, rest assured that compensation decisions are made “in accordance with Marshall Islands law.”

    As a shortseller, it warms my heart to know that management is taking extra cash from the till (legally, in full accordance with Marshall Island law). This worsens the company violation of financial covenants and increases the probability that the shares become worthless. I love these guys.

RNIN
0.59-0.01(-1.67%)Jul 29 11:52 AMEDT

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