I also mentioned this before but truth.monger also dismissed as nothing:
"Stockholders who desire to change control of our company may be prevented from doing so by provisions of our second amended and restated certificate of incorporation and the agreement that governs our 2013 Credit Facility. In addition, other agreements contain provisions that could discourage a takeover.
Our second amended and restated certificate of incorporation could make it more difficult for a third party to acquire us, even if doing so would benefit our stockholders. The provisions of our certificate of incorporation could diminish the opportunities for a stockholder to participate in tender offers. In addition, under our certificate of incorporation, our board of directors may issue preferred stock on terms that could have the effect of delaying or preventing a change in control of our company. The issuance of preferred stock could also negatively affect the voting power of holders of our common stock. The provisions of our certificate of incorporation may have the effect of discouraging or preventing an acquisition or sale of our business.
In addition, the 2013 Credit Agreement contains limitations on our ability to enter into a change of control transaction. Under the 2013 Credit Agreement, the occurrence of a change of control would constitute an event of default permitting acceleration of our outstanding indebtedness."
First off, I didn't miss it. The 10K wasn't filed till yesterday and I read this morning. It is very good for EVC. It is one of the few good bits in the 10K. However, again, EVC is just now getting to do this. Almost all the other stocks in the sector proved their financial viability and started using this benefit 2-3 years ago, LIN, BLC, SBGI, GTN just to name a few. Pull up their past few years 10K's........this will dramatically improve their cash flow. It's one of the reasons other stocks in the sector have been able to make the M&A's they have done thus far. I would be more concerned with why retrans grew slower last year than the previous 5 years in both real dollars and percent. Again, in presentation they said 40% digital growth. It means nothing if you don't know dollars. DaninFW
This is on Page 32 of 10K yesterday:
"Univision’s ownership of our Class U common stock may make some transactions difficult or impossible to complete without Univision’s support.
Univision is the holder of all of our issued and outstanding Class U common stock. Although the Class U common stock has limited voting rights and does not include the right to elect directors, Univision does have the right to approve any merger, consolidation or other business combination involving our company, any dissolution of our company and any assignment of the FCC licenses for any of our Univision-affiliated television stations. Univision’s ownership interest may have the effect of delaying, deterring or preventing a change in control of our company and may make some transactions more difficult or impossible to complete without Univision’s support or due to Univision’s then-existing media interests in applicable markets."
I posted this on 2-11-14, exactly one month ago today. Everything in it has been 100% accurate. I also recommended USCR and SD. Both have gone up. The USCRW and USCXW warrants have doubled + in a month. I also said JOB on that board at 51 cents would go to 22-24 cents. It has since dropped to 28 cents as of today almost down 50%. I think I have been accurate 100% on my postings last 30 days. My record is about 90%+ for the almost 20 years of posting. Go to USCR and JOB message boards or GTN on 2-11-14 to confirm:
This is from 2-11-14:
"I posted Friday that I thought EVC may have bottomed for now but could still drop to $5.50. I also said SBGI, NXST, GTN and LIN had not found bottom yet IMVHO. Today, they continue to drop. I also said MEG may be bottoming. It appears it too has not found bottom. Investors are deathly afraid of this sector because of new FCC concerns and the Aereo court case. They are taking to the sidelines till matters resolved. Very risky sector at present.
Outpissed, should have taken my advice. GTN is still a strong sell. And before you misquote me again, I said I saw GTN in a $10-12 range. That was when it was in the $11.60's......to anyone with intelligence I was saying I saw 40 cent upside and $1.60 downside. It was a strong sell because the odds are 4 to 1 IMVHO. Not something I care to bet on. DaninFW "
Another alias for? Only two posts ever made and such a foul mouth. Is that the way other First Graders talk? I haven't lost anything. Made about $200K........and that's dollars not carrots idiot child. DaninFW
What are you smoking today? Are you off your meds? I have always acknowledged their great rate. I have only said that management is never going to let shareholders realize the full value of it by hiring endless streams of executives, giving big raises and big options to themselves. The banks they used gave them rates they will never see again which is why they were forced by requirements and covenants under the loans to start getting ready to pay higher rates. That statement is a fact and was pretty much in the beginning of their press release if you knew how to read. Again, that starts in the second grade I believe.........DaninFW
Again, always lying and out of context. When I made that statement it was relative to that point in time. However, on 2-12-14, just over 3 weeks ago, EVC actually hit $5.51........I missed by a penny. Thanks for bringing out the accuracy of my predictions. I also said shortly after that it was time to trade. I was right again. It's been about 4 weeks without looking at actual date that I pulled strong sell rec. However, you said EVC would soon hit $12 in November or December. I can find exact date if you wish to lie. I missed by a penney and you have missed by $4.77 if you consider the highest point of $7.23.......does that make me 477 times more right than you????? What an idiot you are. I have never sold a stock short in my life. I don't care if you believe it or not. DaninFW
I have wanted to say something for some time as there are not many that post on EVC but I suspect there are many readers. There is one person posting that quite obviously has at least 3 aliases.......four counting the one he usually posts under. He may have more and I suspect he does as he often gives six thumbs up +/- to something that he or others post. I have checked the same on other boards he posts at also. The dead giveaway is the exact same posting, same spelling, caps, punctuation, etc. is exactly the same. I find it humorous that someone goes to this trouble. You can bet that whoever attacks this post may be the one.......why do people have to invent an alias to give themselves thumbs up or even to agree with themselves . DaninFW
I will listen to conference call. Had one grandbaby birthday party yesterday. Another spent the day with us and we went out with friends last night. Been trying to download about 500 pictures from trip today. I usually focus on market during weekdays. I listen to conference call playbacks while trading. good luck. DaninFW
Once SD settles again this next week I will take a large position. Looks like just you and me on this USCR board. Again, I'm pulling numbers from memory but USCR actually would have been almost profitable.....just a few pennies loss if you back out the $4+ Million hit they took for warrants. This was also a non-cash loss and protected earnings from taxes. I suspect and again am not an accountant but we will probably take a big hit this quarter as warrants have exploded in Q1. If you extrapolate out the projected revenue growth, acquisition growth and price increases we are talking12-15%+ annual growth for some time. I am just now starting to crunch USCR vs. TXI numbers. The revenue between the companies is $28.00 per share for TXU and an incredible $47.61 for USCR and these are Yahoo numbers which haven't been updated especially for USCR it would be higher. USCR has almost no debt. A bigger company could refi and save $6-10 million just on interest savings. My point and I am having trouble coming up with a number but USCR may well be worth north of $60 a share..........at current buyout multiples for TXU which is above 20X we may see some real movement soon. If you didn't read the transcript, it reiterates almost 40% of GDP growth in the entire U.S. cam from New York, California and Texas. As I said before, USCR is in all three. The deal for TXU closes very soon. I think speculation will be USCR acquisition by Martin Marietta. They would own these markets if they buy USCR. The assets that USCR owns cannot be duplicated due to environmental laws and permit requirements. USCR may well be a gold mine on the ground. I have a standing order for another 20,000 USCXW warrants at $3.01. If USCR continues to drop I will be loading up on warrants. DaninFW
Sentiment: Strong Buy
I actually traded SD twice while on my cruise. That's the problem with cruising and internet. You pay about 35-40 cents a minute depending on package. My wife and I get 500 minutes free on Princess but have to pay on the other lines. I did a Princess cruise 3 weeks before the one I got back on Friday. The last one was Holland America. My point is I missed the fact Cooperman was coming on Monday till I sold Friday . I had bought 60,000 SD at $6.22 on Wednesday or Thursday. Can't remember. But actually sold on the plane coming back at $6.42. Made $12K but suspect I would have done better tomorrow. I usually buy 60,000-120,000 SD when I buy. I usually buy 60,000 and if price drops I buy another 60,000 to average down. Stock spiked Friday IMVHO because of Cooperman. I too am rapidly coming to the conclusion it may be time to hold a large block. This puppy will pop a few dollars one of these days. I didn't listen to call yet but read transcript and several other articles and upgrades. I'm doing this from memory but the recent wells drilled in Kansas look incredible. I believe the number is 45 they will be drilling in next 6-12 months. They are producing about 2/3 +/- oil and about 650-700 barrels a day.........many times the rate of other wells. If you extrapolate out the 45 wells and production $ you get about ONE BILLION IN REVENUE. If they produce the same as test wells this will be a game changer in itself. Continued.....DaninFW
I would add that the current virtually zero interest rates EVC is paying would be null and void in a buyout. Whoever bought them would have to refi the debt. If you add 5-6% at least to the current interest rate that only wipes out about $20 million+/- in benefit to whoever buys them. IMVHO that makes a buyout even more unlikely. This is why I like trading EVC. The volatility is incredible. They get a bunch more new investors to drink the Koolaid until they figure out how poorly run this company is being operated and they dump. I am amazed that we are above $7 with all the Aereo news and FCC news. I would add the FCC news is bigger issue now. Some might call it a nail in the coffin. DaninFW
I would add that nobody has mentioned the impact of interest rates 2 years from now. Much of the EPS improvement was from interest rate reduction. As of 12-31-15, just more than 21 months from now, their rates go from almost nothing to 5.73% on $186 million of their debt. I will let you calculate how many millions a year in extra expense that will be. I will give you a hint. It's well over a million a quarter. And what about the rest of the debt? This is what is known as smoke and mirrors. On the positive side they are getting the benefit of almost no interest expense as if they were a Triple A+ rated company. In 2 years much of that goes away. But, that 5.73% is actually a good LT rate for a company with EVC's debt load. Many would kill for it. The point is current earnings are being masked by artificially low interest rates. For the record, because of all the idiots misquoting me out there. I don't think I ever said I saw EVC below $5 a share unless there was a crash. I just think at current prices it's fairly priced and a good trading stock. I honestly wouldn't be surprised to see it run to $8 or drop to $6. Even money IMVHO. It's being manipulated right now and has been for these execs to dump their shares. Believe what you want. DaninFW
I would add that I won't pull the old news or posting but I believe it's about $4 million they have to expense for options in the next 12 months or so. If they had done it last quarter.........they would have not met EPS expect. This is one of the reasons after a lot of thought I bought the 50,000 EVC at $6.01 that I sold the next day when earnings were reported at $6.84 to $6.86. I realized that there had been few insider sales in many, many months and thought they would not take the hit. I was right. I now think this is the quarter it will take place. Many of you that are long probably don't like my postings. However, I have made well over $3 equivalent trading EVC last few months. I have my $10+/- a share without waiting for a buyout. You could have done the same trading. I honestly wish the longs well. Don't shoot the messenger. I didn't tell you like truth,monger it would be $12 by now. He is the idiot you should shoot. He keeps distorting facts and my statements. It's kind of like reading the bible. If you don't read the preceding and proceeding passages you can get almost any interpretation from a single verse. Let's see what happens Monday. If it goes up I would be a seller. DaninFW
Just trying to point out some big concerns. First off, Ulloa controls through beneficial and non-revocable trusts 889.848 shares in one and 10,599,517 shares in another. He can vote these shares but has little if any personal financial gain. This is also how he controls the company which enables him to cash out constantly at shareholder expense, pay himself more than other CEO's running similar companies many times the size of little EVC. The amount of stock owned by Univision also allows them to give their personal vote of approval before any merger can take place. It also requires that all contracts be up for renewal should there be a change of control. I don't call that in the best interests of shareholders. It also does not make it possible for Univision to buy EVC because it's part of the deal they made with the FCC if you do your research when they made them divest most of their holdings in EVC. The new FCC stance also makes it even more unlikely Univision would buy EVC. I would also add that in any accurate report that shows insider control or ownership of shares, it must include options, warrants and restricted stock even if not issued or vested. That's because in a buyout under every scenario I have ever heard about they become instantly vested even if not vested. If you guys take out all the stock these guys don't actually currently own or have DIRECT control over.....they are pretty much selling anything they can. In the case of Ulloa it bears even more scrutiny this time. The stock he sold yesterday actually vested on 110,000 shares of the 226,000 sold on 1-01-12. The other 110,000 vested 1-01-14. He waited over two years on over half and over 2 months on the other half to sell. WHY? He took advantage of beating revenues and earnings also knowing the sector is not in favor at present. I won't pretend that accounting is my expertise but I suspect we will see a near $2 million hit this quarter from option expense. DaninFW
After posting a fairly positive post on EVC I checked SEC filings after the close today. The Chairman and CEO sold 226,000 shares today and two other execs sold 66,000 each and our old buddy Wilkinson sold another 54,000+ yesterday and today. I hope you guys feel a ,lot better about this company than three of the top dogs. The 4th guy was already fired. I can't imagine this not having a negative effect Monday. I may be back in Tuesday or Wednesday. I would add that all these guys except Wilkinson exercised options at under $2 each and sold at over $7 each.......as I have said time and again.......the CEO runs this company like his own personal ATM machine. These three guys just pocketed $1.8 million clear profit today. BTW, that also has to be reflected in the P&L under "option expense" if they haven't already written it off........which they haven't. DaninFW
You are an idiot. Again, your reading comprehension skills are that of a first grader at best. I have never said Aereo was a great concept and have said they should have to pay for content. It's stealing. That is not the issue. It's fear of what the idiots in the Supreme Court might do. I have typed volumes on the subject. Please don't waste my time. I removed the strong sell for this sector weeks ago....about 3 weeks if memory serves. That was about the time the sector started showing strength and bounced about 10%. I've been on a 11 day Panama Canal Cruise and just got back today. BTW, you don't even own GTN. You just follow me around to harass me. You said EVC would be $12 "soon" back in November or December. It's been 3-4 months. I call that soon. We were down to $5.50 to $6.00 and just broke $7 again. Talk about calling the kettle black. I would add that the FCC issue is much bigger than Aereo at present. This sector is a hold at best right now. That does mean one can make money trading the massive volatility. But I would wait till you get to the second grade at least before trying that. DaninFW
Sorry, been out of pocket. Been on a 11 day Panama Canal Cruise and just got back today. As I said before I left EVC was starting to show some strength. I bought 50,000 at an average of $6.01 the evening before earnings. I expected a small bump to be honest but got out at $6.84 to $6.86 the day after buying. Made just under $44,000. Not bad. It dipped to $6.36 the next day and I honestly thought it would soon be back to normal trading pattern. I didn't buy more. Congrats to those of you that held to above $7. To me it is scary at these levels. There are two investor presentations next week or so and we may see it hang at these levels. They did surprise on revenues and earnings which was rare for this sector this quarter. The entire sector is getting killed because of Aereo, the FCC and disappointing revenues or earnings that the sector reported. Many now think the FCC issue caused most of the downward spike but the crash started way before the FCC news report and just further accelerated the sector decline. Funny that EVC that did no sidecars (that I am aware of), has few if any duopolies (that I would consider), no management agreements, etc. like almost the rest of the sector.......is now benefitting because they have the least if any to lose......but, it also makes them less and less a takeover target...............happy for the longs but I think we will see $6 again before $8. DaninFW