For the sake of MB sanity, could the instigators refrain from insulting/aggravating "said" aka Bernie Ellis. I for one, do not care who/whom the person is. I normally read all the posts and pay attention to the content of the message.
This MB contains some very good technical discussions in addition to investment opinions. Why degrade it with personal attacks. I am beginning to question who/whom is the attacker and who/whom needs the attention more.
straight, what did you expect? I do not understand why you are upset. They seemed to have approached some level of steady state even though they encountered two production problems. The problems are being addressed. Also, it appears like they have delayed the purchase of the secondary crusher unit. The numbers indicate that they will just about break even for the qtr (that is not a bad thing considering the price of copper). JMO
Understand where you are coming from. However, I do not think that you can count on the whole 50%. I just think that the growth will only be between 10-20% while costs, etc will be higher than the increased revenue. IMO the overall growth in consumer mRDC has been achieved with all the major banks already participating. The smaller banks will add LOTS more banks but NOT much additional check volume. I also think the medium to large businesses will use a scanner to data input (still included in the mRDC numbers), while the small businesses will use the camera. Again, Mitek will see limited growth. JMO
Whoa, slowdown there nadu..................
200k MCD/day x 250 banking days is approx. 50M for BoA.
Also, Mitek announced 1.4M minus 200K for 1.2M renewal contract with a Provider, not a bank. What we do not know is what percentage of the bank(s) this provider provides for? :)
This PR could be business as usual, need more info.
carl you stated ". TC is renegotiating their sr debt. While the amount and interest rate may be same, the due date will be pushed out several years beyond 2017. "
IMO, You have made an incorrect assumption. Anyone involved professionally with high yield debt at this point can tell you that there is very slight chance that TC can refinance their senior secured debt at the same interest rate and push it out to well past 2020 as would be desired. If they are able to refinance the senior secured debt to such dates, it will require a significantly higher interest rate. (the bond market is telling you that now). And keep in mind if they were to refinance the 2017 maturity they would have to pay the silly high rate (now) of 104 plus to call in or redeem the bonds. If they were to do that, it would just signify more malfeasance on the part of management, bailing out holders of the 2017 notes at the expense of the common shareholder. Right now they can buy the 2017 's on the open market for a nice discount. Does it make sense for them to pay higher and then a much higher rate for the new bonds? NO.
You say that we know that they are renogiating their debt, but you don't know that, and more importantly you don't know what the bankers position is. I have reason to believe it is very different. The market seems to be telling you loud and clear what the situation is.
Arnold, why do you antagonize?
The answer is a definitive yes, refinancing will always be available to TC. However, it could be with the assistance of CCAA. If that occurs, shareholders are the last in line.
"court-supervised attempt to reorganize the financial affairs of the debtor company"
brian, the important covenant is contained in the..............9.75% senior secured notes. If RGLD is the holder of record, then it would make sense. Otherwise, RGLD is in line with the rest of the creditors. Not sure what there position in line is, but it's close to the top of the pecking order. :)
The 9.75% senior secured notes (the “2017 Notes”) are guaranteed on a senior basis by substantially all of TCM's subsidiaries and are secured by a first priority lien, subject to permitted liens, on substantially all of TCM's and the guarantors' property and assets.
light, good theory, however, there are no long puts and the one near term put is .13 to .20 cents while the bonds are nowhere near 65% of par. :)
nadullah62, Mitek should easily beat the $6.6M because they will include IDchecker revenue of approx. $1M. My Guess at this point based on the contract.
I agree with you concerning Chapter 7 BK, no chance. However, Chapter 11 is not out of the question. Chapter 11 allows them to easily restructure their debt. Costly restructure, BUT a restructure.
I will check again on the options, I believe he still has some more at .82.
As for the check writing, the best information will be the next Federal Reserve Triennial Payments Study. Feds started the Payments Study in 2000 and the last report was in 2012, published in 2013. They should be tabulating info now and probably publish early 2016. As you are aware, overall check writing is declining at approx. 9% while consumer check writing was holding steady. .
analyst112, Predicting revenue and earnings for the upcoming qtr is very difficult because of the recent acquisition of ID Checker. The only information on ID Checker revenue and earnings was reported in the last qtr comments as:
"The results of IDchecker’s operations from June 17, 2015 through June 30, 2015 are included in the Company’s consolidated financial statements. For the period from June 17, 2015 to June 30, 2015, IDchecker contributed revenue and earnings of $120,765 and $35,093, respectively. "
If this comment is linear it would indicate that ID checker could contribute about $2.5-3.0 Million in revenue and approx. $800-900K in earnings. That is a BIG if, since the reported numbers were only for a very short window of time and we do not have many details on what they were. Have to wait and see about this one. JMO
Ever heard the tale about chemical engineers, when around chemists they talk engineering, when around engineers they talk chemistry, when around both they discuss baseball. I was confused. :)
Very Interesting, this sure does sound like a camera version of "QwikDeposit to Go" from Bluepoint Solutions (a Mitek Partner). Shades of USAA.
"The Company also announced that it has engaged Moelis & Company and BMO Capital Markets to assist the Board in evaluating strategic and financial alternatives available to the Company, including debt refinancing and restructuring, new capital transactions and asset sales. "
Interesting indeed, BMO is the financing. Attached are the latest transactions for Moelis & Company:
Interval Leisure Group, Inc. Acquisition of Vistana Signature Experiences, Starwood’s vacation ownership business
Stuyvesant Town-Peter Cooper VillageSale to the Blackstone Group and Ivanhoé Cambridge
Campus Crest Communities, Inc.Sale to Harrison Street Real Estate Capital, LLC
Dell Inc.Acquisition of EMC Corporation
Dezima Pharma B.V.Sale to Amgen Inc.
DENTSPLY International Inc.Merger with Sirona Dental Systems Inc.
Meredith CorporationMerger with Media General, Inc.
TECO Energy, Inc.Sale to Emera Inc.
Both, the bond holders would be looking at getting paid all or a portion PLUS a piece of the new pie and leave the shareholders holding the bag.