At least folks aren't paying two and a half times book for the stock of AVNW and CRNT. Shareholders at least have a chance.
I never did sit down and figure out how that full-ratchet provision worked but they wound up issuing shares at around $1.20 with a number of warrants still outstanding. That $2.10 was total fiction.
I'm o.k. with DRWI management "puffing" about their prospects but I was a little bit disgusted with how they didn't shoot straight on that share issuance.
We need statements by entity along with an organizational structure in order to evaluate in my opinion. For all I know they have a non-regulated subsidiary with plenty of cash. It has been months since I tried to evaluate by looking at the information that is disclosed and I couldn't figure it out but I know I was guessing that there isn't a sub with that cash. So having said that, where did the cash come from for the Mass entity? As you pointed out, I don't see it in the parent company but somehow they got it so maybe there is capacity somewhere in the group.
The lousy thing is, it isn't that hard to provide the information that people need to evaluate the situation. They just choose not to. ACP would have easy access to that information so the fact they are on the fence says something bad in my opinion.
They need to disclose what they filed with the Massachusetts regulator too. Most companies don't provide subsidiary statements, I guess I get that even though I don't like it but the Mass filing seems pretty easy to do and does not bring risk that everyone will sue them if they made a mistake in putting the information together.
What happens to the cut-through if the deal falls apart? Is that bad for ACP? I don't honestly understand that part of it at all.
If there was no cut-through I would say yea that is true but does that cause problems if they try to walk away? I don't have a clue but then again I've never understood what is going on with TWGP.
How in the world could they argue that they could satisfy the September debt obligation and continue as a going concern to Massachusetts? I can't think of any arguments but there must be something.
Didn't address my questions and of course Saw is complimentary. The fact remains he oversaw a disaster.
Also will add that if Son gets TMUS the plan is to use T-Mobile senior managers. Sure some Sprint managers will remain but things will lean T-Mobile's direction. Bottom-line though, Sprint's Network Vision has been on-going for a couple of years now and has yet to yield any material revenues. Care to explain that?
Believe I was correct in all my statements and no I don't think Saw particularly cares for DRWI equipment. I don't blame DRWI for the failure of the Clearwire netwokr but the network did not work very well and there is going to be lots of used equipment from Clearwire sitting around as the towers are being dismantled.
What happens to all that used equipment? I really don't know.
If someone decides to buy these shares at say 50 cents that indicates a market cap in excess of $70 million plus whatever shares are ultimately issued for the preferred stock or whatever the next thing will be.
Clearwire network is being shut down is it not? Sprint has been building out their network for a couple of years now and they are not using DRWI in a meaningful way. If they get T-Mobile, they will have to spend money doing the integration of the networks but I doubt Dragonwave will be a big part of it given the failure of the earlier project with Clearwire and superior alternatives.
Appreciate that. As you said, nowhere near what they have been projecting. The revenue increase isn't huge news in my mind. It is US Cellular and few other small deals.
Reliance Jio could certainly give them a couple of good years but I doubt it. It isn't exclusive and orders so far are not nearly enough. Their best hope is to reset margins on NSN but there is just no reason for optimism beyond the thought that surely they couldn't do worse. After that you have to look at valuation and it is expensive.
Hope the sectors share prices take off in a fit of speculative frenzy but I wouldn't have the nerve to buy DRWI.
Know you are talking about consensus earnings estimates but it is worth pointing out that they have provided no earnings estimates beyond the most general long-term goals. Talking about sequential sales growth off of last quarter's fiasco is the equivalent of an emergency room doctor focusing on a minor scratch on your arm that you suffered while falling to the ground as the result of a gunshot wound to the body.
AGO will be able to command a premium in the marketplace given not only the litigation but past actions. Their word means something plus they don't lie nearly as much and drag clients through PR hassles when things go bad.
Who was surprised that MBIA accused CS of withholding evidence? I wasn't and actually the accusation is common in litigation. What is unusual is the lengths that MBIA goes to in order to make sure it winds up in the press.
Actually, these types of reports are common for large companies.
Given that the government is a partner it is kind of unusual but that is the way it goes sometimes. Arbitration seems increasingly likely.