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getintoh20 116 posts  |  Last Activity: Oct 1, 2015 5:40 PM Member since: Sep 21, 2007
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  • getintoh20 getintoh20 Aug 12, 2015 7:34 AM Flag

    Your right AMZN lose money every qt for the last 10 years. Get real u idiot!

  • getintoh20 getintoh20 Aug 11, 2015 3:46 PM Flag

    Like I said SUNE will ceased to exist in 2 years. Bail u fools!

  • World Acceptance has come under fire for selling credit insurance to its borrowers, and making loans at interest rates that make it almost impossible to repay a loan in full. In fiscal 2015, 71.5% of the company's loan originations were related to refinancing -- old balances that were rolled into a new loan.

    Its insurance products have come under scrutiny because they are, in effect, a way to collect higher interest rates on amounts borrowed. Insurance in name only, the policies rarely pay out, resulting in nearly pure profits for World Acceptance, which earns income from commissions on the sale of each policy. The Consumer Financial Protection Bureau has gone after other financial companies for similar practices, most notably Citi, which was fined $700 million for selling add-on loan products.

    Now what: Decisions by the CFPB generally result in multi-million dollar fines and restitution amounts as well as the end to predatory business practices. In the first quarter of fiscal year 2015, insurance commissions generated $47.8 million of revenue, equivalent to 27% of the World Acceptance's pre-tax income.

    World Acceptance discloses in its filings that, if loan rates were capped at a 36% annual rate, it would "certainly eliminate our ability to continue our current operations." While the CFPB lacks the power to set its own rate cap, the 36% rate limit was mentioned in an earlier announcement as being an important part of what makes a loan "unfair, deceptive, and abusive." Keep an eye on the CFPB's next moves to see how this will all pan out.

  • getintoh20 getintoh20 Aug 11, 2015 12:55 PM Flag

    Beats me, but boy did they make bad finical decision.

  • getintoh20 getintoh20 Aug 11, 2015 12:46 PM Flag

    The CFO retired on 9/10/13. The President/COO retired on 11/1/13. World's auditor, the world-class KPMG, resigned on 9/5/14.

    On 5/8/15, an 8-K announced that WRLD was going to place $250 million in senior notes. On 5/15/15, an 8-K announced that WRLD couldn't place them, and two weeks later, the CEO "retired."

    In last week's 8-K, WRLD's credit facility was trimmed, with an important clause which telegraphs its demise: "material regulatory orders will, if not discharged with in 60 days, result in an event of default."

    i.e. When (not "if") the CFPB drops the hammer, the lenders will want their money back immediately.

    Meanwhile, the lenders now prohibit the scheme that WRLD has been using for years to support its stock price every time bad news comes out: share buybacks.

    Bottom Line

    I believe the CFPB will put WRLD's business model to death. So it can only liquidate. It has $1.1 billion in receivables. According to a report from ProPublica, 30% of WRLD's loans are delinquent at any time. After charging those off, it may recover $780 million.

    It must pay off $575 million in long-term debt, leaving it with $205 million. It has $38 million in cash, but owes $50 million in income taxes and accounts payable, so it ends with $193 million, which is $21 per share.

    The CFPB will fine the company $15 million, just as it did Cash America International (NYSE:CSH) and Ace Cash Express in earlier enforcement actions, leaving WRLD with $178 million. WRLD commissions alone from credit insurance are almost $400 million over the last five years, and that doesn't even cover the re-financing scheme.

    Based on what we know about the CFPB, I think it will tell the company to pay back more money than the company has as restitution. The CFPB has already hammered the financial services sector with dozens of enforcement actions, disgorging them of $4.7 billion, plus hundreds of millions in fines.

    I just don't think WRLD survives.

  • Reply to

    look at how scared they are shorting

    by stocksarerigged Aug 11, 2015 12:30 PM
    getintoh20 getintoh20 Aug 11, 2015 12:41 PM Flag

    Looks like its already playing dead to me. LOL... Wish u luck on this trade.

  • Reply to

    look at how scared they are shorting

    by stocksarerigged Aug 11, 2015 12:30 PM
    getintoh20 getintoh20 Aug 11, 2015 12:34 PM Flag

    Looks more like the shorts are squeezing the bag holders to me.

  • Summary
    •The CFPB has World Acceptance dead to rights.
    •It has already dealt a death blow to payday lenders. Installment lenders like World Acceptance are next.
    •It will prohibit both of the company's revenue drivers, forcing it to liquidate.
    •It will force the company to pay tens or hundreds of millions in restitution, and the stock goes to zero.

    To read the full article go to Seeking Alpha, great read

  • Reply to

    What if no charges? $50 again

    by gogreenforever41 Aug 11, 2015 11:27 AM
    getintoh20 getintoh20 Aug 11, 2015 11:43 AM Flag

    On August 7, 2015, the Company received a letter from the CFPB’s Enforcement Office notifying the Company that, in accordance with the CFPB’s discretionary Notice and Opportunity to Respond and Advise (“NORA”) process, the staff of CFPB’s Enforcement Office is considering recommending that the CFPB take legal action against the Company (the “NORA Letter”). The NORA Letter states that the staff of the CFPB’s Enforcement Office expects to allege that the Company violated the Consumer Financial Protection Act of 2010, 12 U.S.C. §5536. The NORA Letter confirms that the Company has the opportunity to make a NORA submission, which is a written statement setting forth any reasons of law or policy why the Company believes the CFPB should not take legal action against it. The Company understands that a NORA Letter is intended to ensure that potential subjects of enforcement actions have the opportunity to present their positions to the CFPB before an enforcement action is recommended or commenced. The Company intends to make a NORA submission to the CFPB’s Enforcement Office.

    We are currently unable to predict the ultimate timing or outcome of the CFPB matter. The Company continues to believe that its marketing and lending practices are lawful. There can be no assurance, however, that the NORA Letter and the CFPB’s exercise of its enforcement, regulatory, discretionary, and other powers will not result in enforcement actions, proceedings or litigation and the imposition of damages, fines, penalties, restitution, other monetary liabilities, sanctions, settlements or changes to the Company’s business practices or operations, which could have a material adverse affect on the Company.

  • Janney Capital downgraded World Acceptance Corp (NASDAQ: WRLD) from Buy to Neutral with a price target of $38.00 (from $96.00).

  • Unreal! Never seen that before. Good luck trading this small float.

  • Jefferies analyst Biren Amin told Benzinga that the medication, if eventually approved by the FDA, could serve up to 400,000 patients with moderate to severe IC. Assuming 25 percent market penetration, the drug would generate about $600 million in annual revenue for the company by 2025, he said.

    Aquinox Pharmaceuticals Inc
    is the talk of the town on Monday. On Thursday evening, the company released promising secondary endpoint results from the Phase 2 trial of a new drug targeting interstitial cystitis (IC), a painful bladder condition.

    "The encouraging effect of AQX-1125 observed on the primary endpoint of reduction in pain together with several statistically significant secondary endpoints, underscore the potential of AQX-1125 as a once daily, oral therapy for this debilitating disease," said CEO David Main in a press release.

    Earlier in Monday's session, Aquinox shares reached $55.75, an astounding 3,000 percent rise since Thursday's close of $1.79. Along the way, Nanex reported there were nine circuit breaker halts in the first three hours of trading.

    Related Link: Visualize Aquinox's 9 Circuit Breaker Halts In The First 3 Hours Of Trading

    Jefferies analyst Biren Amin told Benzinga that the medication, if eventually approved by the FDA, could serve up to 400,000 patients with moderate to severe IC. Assuming 25 percent market penetration, the drug would generate about $600 million in annual revenue for the company by 2025, he said.

    Talking With A Specialist

    Dr. Scott Sircus, a partner at the Michigan Institute of Urology, delved into this issue further.

    An obvious question: What is the status of current drugs on the market that are being used to treat the disease and its side effects?

    One drug currently on the market is Elmiron, an oral tablet that reduces discomfort from IC. Sircus said it was likely the only effective pharmacological treatment available for the disease. He admitted that the treatment "doesn't work great for everyone," suggesting that Aquinox's developing medication may have a significant role to play.

    Elmiron is also "very expensive," he said, "and you typically have to stay on it for a long time." Sircus also highlighted the utilization of neuromodulation therapies, which seek to placate the symptoms via electrical impulses sent to the nerve fibers in the bladder. "It's kind of like a pacemaker of sorts," he explained. "And that's really where the interest of urologists lies currently."

  • Reply to

    Mobile order growth 195%

    by fedrally001 Aug 10, 2015 9:19 PM
    getintoh20 getintoh20 Aug 10, 2015 10:20 PM Flag

    Big deal it's still 74% better then last year qt.

  • Reply to


    by lee.carda Aug 10, 2015 5:11 PM
    getintoh20 getintoh20 Aug 10, 2015 5:24 PM Flag

    LEEICANTSPELL: I think you have made your point, your a mindless uneducated moron. Please spare us any more mindless post.

  • Reply to

    Margins Expanding - Same Story as AMAZON

    by fedrally001 Aug 10, 2015 4:25 PM
    getintoh20 getintoh20 Aug 10, 2015 5:15 PM Flag

    And this mindless statement coming from the idiot who can't spell OPTIMISM. Your such a clueless, mindless idiot.

  • getintoh20 getintoh20 Aug 10, 2015 4:47 PM Flag

    You must have the same idiot brain cells as Hawkthemolester, he's as clueless as u are.

  • Reply to

    I don't like the unaudited part.

    by hawkster654 Aug 10, 2015 4:15 PM
    getintoh20 getintoh20 Aug 10, 2015 4:18 PM Flag

    You idiot all qt earning reports are unaudited. Get a life fool!

  • Seriously does anyone know what this new drug is worth if approve? Anyone???

  • getintoh20 getintoh20 Aug 10, 2015 9:26 AM Flag

    You the man! How's that's trade working out for you? LOL.... time to crawl back under your rock.

  • The company has a $10.7 billion debt load and continual losses quarter after quarter. Case in point was a loss of $263 million in the second quarter of 2015 on $455 million of revenue.

    There are a few alarming numbers in last quarter's report besides the loss. First is that marketing and administration costs were $259 million, more than two and a half times the $103 million gross margin the company generated. On top of that, interest expense was $146 million, again more than gross margin.

    With losses mounting and debt piling up, the only way for SunEdison to get out from under the pressure is to build more projects even faster with even more debt. It's the only path to potential profitability, but it's fraught with risk if interest rates rise or competitors with better technology begin winning projects. Given First Solar and SunPower's profitable results over the last two weeks, I think that second concern is bigger than SunEdison wants to admit.

    I give Sune les then 2 years before it folds.

26.31+1.63(+6.60%)Oct 2 4:02 PMEDT