that's what makes me think that they will pay it off...between the 7mm lump, and the cash distributions from CCS, methinks that the payoff will happen. that will be very good news...even better news if they do it after the re-listing!
Agreed with wbart21's notes. It was nice to have the opportunity to chat with Heath Sampson after the close of the meeting. Unlike the Mike & Mark show, he does not show any sense of irrational optimism. He is sharp, focused, and humble. I like him, and personally, I am glad that he is the one who has righted the ship and got us back on course. One thing to mention: he said in our conversation that the debt is due on July 8th. I wonder if the company will have the cash to pay it off, or if there will be another "roll forward" with progressively worse terms?
BTW, it was great to meet both salterbay and autojett at the meeting, and to see janscott (or Belly, as we all prefer to call him). Bummed that synfuelsguy could not make it this time, but clearly his booming business needs all of his attention and focus. Perhaps next year. ;-)
what time is everyone arriving? My flight his scheduled to land on Tuesday at 4:25PM from SFO. It seems that there must be something big going on in Denver; I tried a couple rental car companies and they are completely booked. I am planning to take the rail into downtown Denver, and then take Uber to Highlands Ranch from there.
not sure that they will be able to book all of the $7 million as revenue...my guess is that a good chunk of that will be a deferred revenue liability. However, it IS still cash, and could be used to pay down the loan even more.
I expect core loss to be a bit higher than that -- $11-13 million. I am hoping that this is a "kitchen sink" quarter, get all the #$%$ out of the way, clear the decks for the rest of the year.
leap of faith? the Annual Meeting is scheduled and the invitations have been sent, I don't think that they will backtrack.
I am not surprised by the extension, but I agree that it should have been address before the deadline expired. I think it was overly optimistic to expect that they could have caught up on 2014 by the end of February, and only a month later have all of 2015 complete and filed.
My sincere hope is that April 20th has a lot of breathing room in it, and that in actuality the company files before that date. And honestly, I don't really care if the bottom line numbers for 2015 look bad; if we strip away all of the one-time costs, I believe that we will see a healthy underlying business.
I am also looking forward to an update on the spinout.
Could be many things...maybe they filled all of the positions (perhaps there was a hiring freeze during this debacle, but the freeze is lifted as of today with the impending release of up-to-date financials)...or perhaps a sale will be announced...
Sentiment: Strong Buy