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ekretiree01 80 posts  |  Last Activity: Jul 27, 2015 1:33 PM Member since: Dec 30, 2005
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  • Reply to

    Staying put.

    by going_way_up Jul 27, 2015 9:03 AM
    ekretiree01 ekretiree01 Jul 27, 2015 1:33 PM Flag

    Oops, there was a Freudian, it was supposed to be freeholder

    How many times did he purchase on open market?

    How many times did he purchase options and sell on the same day?

  • Reply to

    Staying put.

    by going_way_up Jul 27, 2015 9:03 AM
    ekretiree01 ekretiree01 Jul 27, 2015 9:13 AM Flag

    "but that in no way reflects any lack of commitment to the Company because the personal position I have in this company is as one of its largest freeloaders and that will continue" :)

  • ekretiree01 by ekretiree01 Jul 25, 2015 10:06 PM Flag

    Go over to the FCX board and read a few......................................

  • Reply to

    Sit back and relax

    by steves528100 Jul 25, 2015 6:45 PM
    ekretiree01 ekretiree01 Jul 25, 2015 9:57 PM Flag

    Relax and wait for the 10Q, it might give some additional explanations concerning the acquisition and Non GAAP numbers. :)

  • Reply to

    all about the debt maturities

    by mikeszotak Jul 23, 2015 11:10 AM
    ekretiree01 ekretiree01 Jul 24, 2015 12:39 AM Flag

    arnold, decent post, starting to use some data. however, Zaire is around 2%

    However, your correct about North America having some of the lower grade stuff.

  • Reply to

    Earnings next Thursday!

    by steves528100 Jul 16, 2015 11:08 AM
    ekretiree01 ekretiree01 Jul 23, 2015 11:04 AM Flag

    Gold, I assume you mean $6M, and, if they include ID checker your probably pretty close. However, will they "make any money?" like Mr. Wonderful asks.

    One of my previous posts...................

    ekretiree01 • May 12, 2015 10:45 AM Remove

    I found the peg ratio for Mitek to be -4.19. It is a company that's losing money and then "grows" to lose less money, but is still losing money.
    Year Earning Revenue
    2010 -.04 5.1M
    2011 -.01 10.2M
    2012 -.31 9.1M
    2013 -.26 14.8M
    2014 -.17 19.2M Less

  • Reply to

    Earnings next Thursday!

    by steves528100 Jul 16, 2015 11:08 AM
    ekretiree01 ekretiree01 Jul 19, 2015 7:51 PM Flag

    yes, I am very curious to see the balance sheet and whether or not the acquisition costs/ earning and new salaries from ID checker will be reported now or next qtr.

  • ekretiree01 ekretiree01 Jul 17, 2015 11:57 AM Flag

    light, the calculation does not apply to TC's situation?

  • ekretiree01 ekretiree01 Jul 15, 2015 4:07 PM Flag

    arxxmuse, do you have any idea what I am referring to?

  • Reply to

    From Bank of America's earnings release

    by schonyman Jul 15, 2015 10:05 AM
    ekretiree01 ekretiree01 Jul 15, 2015 4:04 PM Flag


    The USAA / Mitek lawsuits (settled) provided some limited insight into Mitek's pricing structure. One of Mitek's claims was USAA disclosure of pricing. It can be found in the public court documents. Attached shows some of the data.

    Pricing (according to USAA)
    Tier 1: 12 mo mva 0-5M transactions incr fee $54,600
    Tier 2: 12 mo mva 5M - 10M transaction - incr fee $49,140
    Tier 3: 12 mo mva 10M to 15M transactions - incr fee $47,145

  • I am a little confused about the recent bond purchase. Last year I read the Covenants of the FIFTH SUPPLEMENTAL INDENTURE Dated as of November 27, 2012. after open market purchase of secondary bonds.

    ARTICLE 3 REDEMPTION Section 3.01 - 3.06 covers

    Section 3.02 Optional Redemption.

    (a) At any time prior to December 1, 2015, the Company may redeem the Notes, in whole but not in part, upon.......etc, etc.

    (b) Prior to December 1, 2015, the Company may on any one or more occasions redeem up to 35% of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional Notes) with the Net Cash Proceeds of one or more Equity Offerings at a redemption price equal to 109.75% of the aggregate principal amount thereof, etc, etc,

    (c) Except pursuant to clause (a) or (b) of this Section 3.02 or pursuant to Section 3.04, the Notes shall not be redeemable at the Company’s option prior to December 1, 2015.

    (d) On and after December 1, 2015, the Company may redeem the Notes, in whole or in part, upon not less than 30 nor more than 60 days’ written notice, etc, etc,

    Year Percentage 2015 104.875%

    2016 and thereafter 100.000%

    (e) Any redemption pursuant to this Section 3.02 shall be made pursuant to the provisions of Sections 3.01 through 3.06 of the Base Indenture, as amended hereby.

    (f) Any redemption notice in connection with this Section 3.02 may, at the Company’s discretion, be subject to one or more conditions precedent, including completion of an Equity Offering or other corporate transaction.

    (g) The Company or its Affiliates may acquire Notes by means other than a redemption, whether by tender offer, open market purchases, negotiated transactions or otherwise, in accordance with applicable securities laws, so long as such acquisition does not otherwise violate the terms of this Indenture.


  • Reply to

    Do a google search

    by copperlopper Jul 13, 2015 8:24 PM
    ekretiree01 ekretiree01 Jul 13, 2015 11:20 PM Flag

    Copper, I did what you said and came to the conclusion that your statements are based on relatively recent activity with limited volume. Overall, the history shows that TC more than likely received a fair price based on the volume purchased.

  • ekretiree01 ekretiree01 Jul 13, 2015 8:18 PM Flag

    "Future interest savings from this repurchase to the December 2015 call date will be approximately $0.8 million, representing a net average purchase price of 1.024% of par compared to the call price of 1.04875% of par, with future interest savings to the December 2017 maturity date of $8.2 million."

  • ekretiree01 ekretiree01 Jul 13, 2015 3:05 PM Flag

    IMO, this is a shameless form of piggybacking. Maybe next time they will send an email referencing Alibaba's "smile to pay".


  • Reply to


    by ekretiree01 Jul 13, 2015 11:06 AM
    ekretiree01 ekretiree01 Jul 13, 2015 1:01 PM Flag

    "they indicated that they intended to respond to the notice within 10 business days of receipt."

    That brings up an interesting point. They indicated 10 business days, 802.02 requires 10 days for Domestic and 802.03 indicates 30 days for Non-U.S. Companies.

    Are they technically Canadian or U.S. Company. I thought they were a Canadian company?

  • ekretiree01 by ekretiree01 Jul 13, 2015 11:06 AM Flag

    Any odds on whether or not TC will reply

    802.03 Continued Listing

    Evaluation and Follow-up Procedures for Non-U.S. Companies

    Within 30 business days after receipt of the letter, the company must contact the Exchange to confirm receipt of notification, discuss any possible financial data of which the Exchange may be unaware, and indicate whether or not it plans to present a Plan; otherwise, suspension and delisting procedures will commence. If the company submits a Plan, it must identify specific semi - annual milestones against which the Exchange will evaluate the company's progress.

  • ekretiree01 ekretiree01 Jul 10, 2015 3:57 PM Flag

    You got that right, LOL

  • ekretiree01 ekretiree01 Jul 10, 2015 10:09 AM Flag


    But, what about my 1/2 Million Dollar balloon mortgage coming due. :)

    I understand the balance sheet situation, was just speculating on TC's course of action(s). Obviously, they (should) have a plan B, C, etc. because the price of metals does not look good for the next year or so..........

    And, they should explain their plan to the SEC within the next 30 days. Hopefully, it is not "we'll wait for the price of Moly and Copper to increase".

    Remember, I AM long on this stock and just averaged down.

  • ekretiree01 ekretiree01 Jul 10, 2015 12:38 AM Flag

    gatr55, Granted the insolvency does not apply to the liquidity. However, it does apply to the balance sheet when the assets are evaluated as "discounted assets". Part of that evaluation is the fact that no one has offered to purchase the company. JMO

  • ekretiree01 ekretiree01 Jul 9, 2015 8:39 PM Flag

    The CCAA does not contain a definition of insolvency; however, courts have held that reference may be had to the definition of insolvency under the BIA. Accordingly, a company will qualify for relief under the CCAA if it is insolvent on a cash flow basis (i.e. unable to meet its obligations generally as they become due) or on a balance sheet test (i.e. ha
    s liabilities that exceed the value of assets).

    Further, the Ontario Superior Court of Justice has held that in determining whether a debtor is insolvent for the purposes of the CCAA, courts may use a “contextual and purposive approach”. A debtor may be considered insolvent if the debtor faces a “looming liquidity crisis” or is in the “proximity” of insolvency even if it is currently meeting its obligations as they become due. It is sufficient if the debtor reasonably anticipates that it will become unable to meet its obligations as they come due before the debtor could reasonably be expected to complete a restructuring of its debt; and
    (c) have in excess of C$5-million in debt or an aggregate in excess of C$5-million in debt for a filing corporate family.

    Just saying they could make a case for facing a “looming liquidity crisis” or is in the “proximity” of insolvency

    Also, I am long on this stock, however, the above is one reason for the recent pricing of this stock, especially since general production data was available over 2 weeks ago (just not published).