Yeah I see that now. Original run said they agreed to settle. Sounds like more rollercoaster in the future lol. Appeal won't go on hacienda's favor, total waste of money.
yeah right, you don't think they can put it back on the books now? usually it's longs that are hanging on in desperation
Investors here should have been more concerned about risk, instead of being led by greed. The deal was brutally one sided. Here's a bit from 8k on Nov 2013. Note that there are supply commitments for gtat, but no purchase commitment for Apple. Note the prepayment is really a loan that can be called in at any time and apple is not obligated to actually buy anything. The specter of this deal hanging over this company was huge after the i6 came out. If you weren't worried about this, or didn't know about it, maybe you should find a pro to manage your money, or try blackjack. I agree management should have handed it differently, but you are ultimately responsible for your DD and this was readily available.
On October 31, 2013, GTAT also entered into a Prepayment Agreement with Apple pursuant to which GTAT will receive approximately $578 million (the "Prepayment Amount"), in four separate installments, as payment in advance for the purchase of sapphire goods. GTAT is required to repay this amount ratably over a five year period ending in January 2020, either as a credit against Apple's purchases of sapphire goods under the MDSA or as a direct cash payment. GTAT's obligation to repay the Prepayment Amount may be accelerated under certain circumstances. GTAT's obligations under the Prepayment Agreement are secured by certain of its assets. While the MDSA specifies GTAT's minimum and maximum supply commitments, there are no minimum purchase requirements under the terms of the MDSA.
Another supposed expert jumps in... the liability tied to the Apple deal was clearly spelled out. Go look at the filings if you doubt me. After September 9th all bets were off