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KIT digital, Inc. Message Board

jdive17 39 posts  |  Last Activity: May 16, 2016 12:32 PM Member since: Apr 2, 2008
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  • 1. SIGA, with an asset at one time valued in the billions, raises $300M in funding and makes a buyout offer to PIP at more than 100% premium to its current market value. Entities merge, NOLs preserved, SIGA's thorn in its side is taken out once and for all and it picks up PIP pipeline. (This appears far better than just raising funds to payoff the judgment in my opinion).
    2. PIP makes a buyout offer to SIGA for $100M at more than 100% premium to its current market value. Deal is financed with SIGA cash on hand/receivables and due to PIP per the DSC judgment. Entities merge, NOLs preserved, PIP's thorn in its side is taken out once and for all, and it has operation control over an asset at one time valued in the billions. Even if it is rejected, the SP of SIGA jumps significantly and makes it easier for them to raise funds with less dilution (i.e. PIP helps PIP get PAID).
    3. Others?

    Either way, a combined market value for these entities at less than $200M seems laughable, assuming ST-246 still has potential in the U.S. and abroad.

    Sentiment: Strong Buy

  • jdive17 jdive17 Apr 26, 2016 5:47 PM Flag

    Pancakes, shame and disappointment.

    Sentiment: Strong Sell

  • jdive17 jdive17 Apr 7, 2016 4:01 PM Flag

    Interesting how you disappeared and do not want to discuss the new 52 week highs being set. Don't worry, there are more to come.

  • Reply to

    google

    by jacat62 Apr 6, 2016 9:56 AM
    jdive17 jdive17 Apr 6, 2016 10:46 AM Flag

    Yawn. Maybe I'll post an article from the Gulf War in 1990 that talks about Anthrax... comparable in relevance to this rubbish. I get that you think you are the vicar against tyrannical permabulls, waging financial jihad via a Yahoo message board (comparable to commie leftist celebrities fighting social injustices against the downtrodden, from their multi-million dollar palatial estates within gated communities to keep those some folks out, 140 characters at a time via Twitter), but you are really starting to make yourself look really foolish (as the stock is fresh off all-time highs).

    Sentiment: Strong Buy

  • Law360, New York (April 5, 2016, 12:43 PM ET) -- A New York bankruptcy judge said Tuesday he would approve SIGA Technologies Inc.’s restructuring plan, clearing the pharmaceutical company's path to emerge from Chapter 11 and move on from a $205 million judgment stemming from a failed merger with PharmAthene Inc.

    The U.S. Bankruptcy Court for the Southern District of New York indicated Tuesday that it would confirm SIGA Technologies' second amended Chapter 11 plan, following the resolution of three outstanding objections from stakeholders. (Credit: Getty) U.S. District Judge Sean H. Lane said during a court...

    Sentiment: Strong Buy

  • The best things come to those who wait. The wait is almost over.

    Sentiment: Strong Buy

  • Reply to

    Contingency Attorney Fees on Award

    by jdive17 Mar 11, 2016 11:00 AM
    jdive17 jdive17 Mar 11, 2016 2:01 PM Flag

    1. I am just asking the question, and as I said, I would love for it to be a billable hour arrangement.

    2. No, contingency fee work is not just for "ambulance chasers" it is common for all litigation work, including corporate, securities, insurance, etc. It is typically 1/3 if settled prior to trial, 40% if it goes to trial, 50% if it is appealed. It is a viable compensation structure when litigation is speculative. If PIP had lost, it would be looking like a good move at this point. It clearly would not be a fiduciary duty violation.

    3. There is a reason the market is not valuing the company comparable to what everybody on here claims, and no, it is not due to some short seller conspiracy theory.

    4. I have more shares than I should already and have no interest in buying more at this time. I am so tired of people on these boards thinking that any comment that is not a glowing endorsement of the untapped value in a stock is a short seller, looking to pick up cheap shares, etc. Get over yourself, this is a Yahoo message board... not exactly the primary source for fund managers and institutional investors.

    Sentiment: Buy

  • Reply to

    Contingency Attorney Fees on Award

    by jdive17 Mar 11, 2016 11:00 AM
    jdive17 jdive17 Mar 11, 2016 11:49 AM Flag

    I would be thrilled if they were on an hourly rate basis, but the above does not conclude that a contingency does not exist, it is just the attorney fees calculated for purposes of determining SIGAQ's contribution requirement. That is, if PIP had a 40% contingency on $200M, the Court would not impose a fee of 40% of the contingency, because a good portion of a contingency fee is the risk of losing element rather than services rendered. When imposing fees, the Court will look at the fees incurred on a billable hour basis, even if that is not how PIP is compensating its outside counsel.

    Sentiment: Buy

  • Does anybody know whether, and if so what percentage, a contingency fee exists for PIP's outside counsel with respect to the SIQAQ award? If it is 40%-50%, which is common if a case goes to appeal, that could explain why the stock is trading where it is.

    Sentiment: Buy

  • Quick summary: Judge, please help. We as shareholders know that as soon as this plan is confirmed, our stock is going to be worthless due to the subsequent acts of the company's directors and officers!

    Objection to Debtor's Proposed Plan filed by SIGA Shrhldr Esopus Creek Value Fund - Para.1 (Prelim. Stmt.)

    "The Plan proposed by the Debtor is not a confirmable plan of reorganization; it is
    a bid to use the benefits of the Bankruptcy Code while ignoring its safeguards. Under the Plan,
    the Debtor exits bankruptcy granting broad releases to directors and officers, while leaving the
    treatment of creditors and shareholders TBD: the treatment of all significant constituencies
    under the Plan will be determined at a later date by the directors and officers in their sole
    discretion. The TBD Plan makes a mockery of the bankruptcy process at great financial expense
    to all constituents. Post-confirmation, and without any further review of this Court whatsoever,
    the Plan purports to grant the directors and officers and a single creditor powers that are far
    beyond what are available both in bankruptcy or under Delaware corporate law. Indeed, at its
    option, the directors and officers can hand all the equity to one creditor, PharmAthene, without a
    valuation or further review of this Court. In effect, the fate of Esopus and its fellow shareholders
    is left to the whim of the directors and officers-all of whom are released and exculpated under
    the Plan from all accountability or legal consequence. Adding insult to injury, this grant of
    immunity is accomplished without a single determination by this Court on the treatment of
    PharmAthene or equity interests and without so much as a vote by shareholders. The
    shareholder constituents are entitled to the confirmation protections that are fundamental to the
    bankruptcy process."

    Sentiment: Strong Sell

  • jdive17 jdive17 Jan 27, 2016 1:32 PM Flag

    Justice did prevail. Did you not see the most recent Delaware Supreme Court decision?

    Sentiment: Strong Buy

  • jdive17 jdive17 Jan 13, 2016 12:01 PM Flag

    Hmmmmm. Glad I didn't take his advice on this sure thing of an investment!

  • jdive17 jdive17 Jan 7, 2016 2:05 PM Flag

    So if the stock jumps to $5/share, the fact that you own a right to buy shares at $1.42/share has no value?

    Are you seriously this dense, or are you being sarcastic?

    Sentiment: Strong Sell

  • jdive17 jdive17 Jan 7, 2016 2:03 PM Flag

    So, according to your rationale, not being listed on an exchange = no value. SMH

    You know there are plenty of investments that are made privately, right?

    Sentiment: Strong Sell

  • jdive17 jdive17 Jan 7, 2016 12:39 PM Flag

    Your missing the forest for the trees.
    The warrants contain valuable rights. Each unit is comprised of two valuable rights. 1. a share and 2. a warrant. The value of 1 plus the value of 2 = $1.10; ergo, the value of 1 is less than $1.10 unless you claim the warrant has no value. If that is the case, I will gladly take 50M warrants to purchase stock for $1.42/share for the next 5 years. Don't worry, you'll get it eventually. Keep trying little fella.

    Sentiment: Strong Sell

  • jdive17 jdive17 Jan 7, 2016 11:28 AM Flag

    This is nonsensical.

    First, you are claiming that the right to purchase in the future not only has no value currently, but that it actually has a negative value? Seriously?

    You must value the two elements of the unit. The first element is a share of stock. The second element is a right to purchase .6 of share of stock @ $1.42 per share for up to five years. This is akin to a 5 year option with a $1.42 strike price (the difference being that an option is for issued shares bought from a shareholder v. a warrant being newly issued stock bought from the corporation). You need to value the warrant first and then back into the imputed stock price. Claiming that "the per share price of todays [sic] offering is... $1.22" when the purchase price per unit is $1.10 is idiotic.

    These bag holders thumbing up this "calculation" are just as idiotic. Ya'll should have gotten out with the "Dream Team" scandal... that was the writing on the wall.

    Sentiment: Strong Sell

  • jdive17 jdive17 Jan 6, 2016 10:33 AM Flag

    The empty bag is that management and M&F will do all they can to look out for their best interests. The need for the additional $ to pay PIP will lead to a significantly dilutive private offering to one or more institutional investors and current common will own little to nothing of SIGA.

  • Reply to

    Did Siga do a reverse split effective today?

    by math291hall Jan 4, 2016 10:34 AM
    jdive17 jdive17 Jan 4, 2016 10:51 AM Flag

    The bankruptcy plan requires a 1-15 stock split, but the plan has not been approved, so that should have no bearing on today's move. I think today's move is just hollow optimism on a small number of shares. I expect the existing common to be all but wiped out by a M&F funding to satisfy the PIP judgment, which will be used to justify obtaining a substantially increased equity position.

    Sentiment: Strong Sell

  • jdive17 by jdive17 Dec 30, 2015 2:19 PM Flag

    $194M judgment against SIGA Technologies affirmed by the Delaware Supreme Court before Christmas but the market hasn't accounted for it yet. After interest, PIP is likely owed $220M and will get paid out within 210 days under the bankruptcy exit plan for SIGA, or else all existing SIGA shares get cancelled and PIP becomes the sole shareholder of SIGA, which owns a smallpox vaccine valued in the billions and has already obtained a $400M+ contract from BARDA... Despite $220M owed, PIP market cap is currently around $125M... do your own due diligence, but huge upside over the next 7 months for PIP!

    Sentiment: Hold

  • Reply to

    Can we take a poll?

    by calculatedriskiv Dec 29, 2015 9:25 AM
    jdive17 jdive17 Dec 29, 2015 10:27 AM Flag

    I anticipate today's announcement being that M&F is financing the payoff to the detriment of the existing shareholders. I would not hold SIGAQ today.

    Sentiment: Strong Buy