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EASTMAN KODAK CO Message Board

kodakbond 17 posts  |  Last Activity: Jul 4, 2014 4:10 PM Member since: Dec 22, 2012
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  • Reply to

    everyone needs to relax. especially starteam

    by stockking64 Jun 30, 2014 9:03 PM
    kodakbond kodakbond Jul 4, 2014 4:10 PM Flag

    Gamida Cell and Insightec both have Phase III trials recommended in 2013 by the FDA, to be completed by 2016. Plaza Center and other RE projects to begin in 2015. There is no doubt that there is substantial value in a few years. Unless Gamida Cell receives another buyout offer,.......

  • Reply to

    GREAT NEWS FROM EMITF...INSIGHTEC!!!

    by starteam003 Jun 29, 2014 12:15 PM
    kodakbond kodakbond Jun 30, 2014 10:45 AM Flag

    York Capital owns about 19.7 % EMITF.

  • Reply to

    Two issues with NEWL that need to be addressed

    by chessguru100 Jun 26, 2014 10:35 PM
    kodakbond kodakbond Jun 26, 2014 10:50 PM Flag

    1. "false and misleading disclosures" ----- don't see any major discrepancies as far as the PR on June 18 is compared with the PR on June 26, although an amended 6-K was also filed on June 26 with slightly revised numbers.

    2. Requirements of $ 1 share price and $ 50 M market cap ----- canbe fixed in any number of ways, especially after MGP/ Hanover is taken care of and then the new ships and coal mines.

    So my impression is NASDAQ targeting NEWL for reasons unspecified on the PRs. Could it be, for example, the number of RS embarrasing NASDAQ?

    Otherwise, NEWL can probably appeal for another extension.

  • Reply to

    Estimation of Short Interest with the OBV

    by kodakbond Jun 20, 2014 10:42 PM
    kodakbond kodakbond Jun 21, 2014 3:24 PM Flag

    According to the 6-K filed on June 18, MGP/ Hanover can sell no more than the greater of (i) 20 % of worldwide daily volume, or (ii) $ 295 K worth of shares daily. And their aggregate holding be no more than 9.99 % of the outstanding shares.

    So MGP/ Hanover must sell down to no more than 9.99 % of the outstanding shares, which was probably done before the T12 halt.

  • Reply to

    Estimation of Short Interest with the OBV

    by kodakbond Jun 20, 2014 10:42 PM
    kodakbond kodakbond Jun 21, 2014 3:20 PM Flag

    Please read the "Adjustment" below.

  • Reply to

    Estimation of Short Interest with the OBV

    by kodakbond Jun 20, 2014 10:42 PM
    kodakbond kodakbond Jun 21, 2014 4:42 AM Flag

    Adjustment:

    According to the 6-K filed on June 18, MGP/ Hanover can sell no more than the greater of (i) 20 % of worldwide daily volume, or (ii) $ 295 K worth of shares daily. And their aggregate holding be no more than 9.99 % of the outstanding shares.

    So MGP/ Hanover has sold about 46-30 M shares instead, which leaves another about 141-157 M shares of Net Sell Volume for the last 20 trading days. With this adjustment, Short Interest is probably still well over 100 M shares, mainly Naked Shorts, waiting to be covered.

    This is enough pent-up demand to support 2 trading days at record volume of short covering, once trading resume, as also supported by the volume of more than 11 M shares traded in about 9 minutes on June 18, before the T12 halt.

  • OBV, On Balance Volume, is a running summation, where the daily volume is assigned as Positive Buy Volume when the daily close is up, and assigned as Negative Sell Volume when the daily close is down.

    Between May 20, the intraday peak at $ 4.79 and June 18, the T12 halt at $ 0.4955, when the price trend was predominately down, the OBV dropped by about 187 M shares.

    So the Net Sell Volume is about 187 M shares for the last 20 trading days, where no more than about 5.5 M shares could have been sold by MGP/ Hanover, since they can only sell no more than $ 295 K worth of shares daily, as restricted by agreement.

    Based on the above, Short Interest is probably close to 150 M shares, about the Entire Outstanding Shares of Naked Shorts, waiting to be covered. And MGP/ Hanover is still holding the majority of their 46 M shares.

    There will likely be one hell of short covering, once trading resume.

  • Reply to

    F-1/A form filed yesterday (found on Edgar)

    by rutger0 Jun 12, 2014 8:05 AM
    kodakbond kodakbond Jun 12, 2014 3:57 PM Flag

    "options to purchase an aggregate of 1,125,447 ordinary shares at a weighted average exercise price of approximately NIS 11.0 per share, with the latest expiration date of these options being December 31, 2015"

    NIS 11.0~ $ 3.29. There is a lot of headroom.

  • kodakbond kodakbond Jun 5, 2014 4:25 PM Flag

    Speculation: Layoff was negotiated as part of the requirements for an extension of the covenant, to be announced soon.

  • Reply to

    Elbit Imaging Q1

    by ofir_menkes May 30, 2014 11:33 AM
    kodakbond kodakbond Jun 3, 2014 9:50 PM Flag

    With the one-time gain from debt restructure taken away, and the financial expenses adjusted for the reduced debt after restructure, the company lost about $ 15 M for the quarter, an improvement of about $ 24 M as compared to 1Q2013, where about $ 13 M of the improvement come from the redeuced financial expenses and about $ 11 M of the improvement come from operations and others. There is probably more shuffle in the management after the former debtholders have become majority owners. And hopefully further improvement in operations, progress in RE developments, and sale of assets.

  • Reply to

    Equity with the Plaza Centers = $0.77 per share

    by anos1o May 19, 2014 11:58 AM
    kodakbond kodakbond May 20, 2014 1:14 PM Flag

    According to the press releases, for example on March 27, the Amended Plan for debt restructure at Plaza Center, is contingent to an infusion of 20M Euro or $ 27M; 13.5 % of the shares would also be issued to the unsecured debtholders; an increase of annual interest rate by 1.5 %; plus some other terms; in exchange for a 3-year deferral of the repayment of the principle of the unsecured debt.

    1.135 comes from the 13.5 % of the Plaza Center shares to be issued to the unsecured debtholders.

    All subjected to a vote in June.

  • Reply to

    Equity with the Plaza Centers = $0.77 per share

    by anos1o May 19, 2014 11:58 AM
    kodakbond kodakbond May 19, 2014 5:52 PM Flag

    Form 20-F, 2013, Press Releases on February 20, 24, March 27, etc.

  • Reply to

    Equity with the Plaza Centers = $0.77 per share

    by anos1o May 19, 2014 11:58 AM
    kodakbond kodakbond May 19, 2014 12:59 PM Flag

    Thanks for your message. The Plaza Center deal is still subjected to a vote in June, which is contingent to an infusion of 20 M Euro or $ 27 M. And 13.5 % of the shares would also be issued to the unsecured debtholders.
    So upon approval in June (if), the Elbit non-controlling interests at Plaza Center would become,
    $ (180/ 1.135)- 27 M= $ 132 M or,
    $ 132/ 553= $ 0.24 per share.
    The total equity including Plaza center would become $ 0.44+ 0.24= $ 0.68 per share.
    Please also notice that $ 0.68 per share, is fairly close to the gap in February.

  • Reply to

    Equity= $0.44 per share

    by kodakbond May 18, 2014 8:27 PM
    kodakbond kodakbond May 18, 2014 8:37 PM Flag

    So the debtholders wrote off $ 544 M debt in exchange for (553- 25) M= 528 M shares, at $ 1.03 per share, where equity after debt restructure, is $ 0.44 per share.

    There is every incentive for them to monetize the assets and increase equity beyond $ 0.44 per share.

  • As of 12/ 31/ 2013, per Form 20F, Equity= - $ 298 M.

    News release on 02/ 24/ 2014, after debt restructure, improvement on Equity= $ 544 M.

    Total number of shares after debt restructure= 553 M.

    Equity= $ (-298+ 544)/ 553= $ 0.44 per share.

  • kodakbond by kodakbond May 8, 2014 12:05 PM Flag

    This is as close to an expirationless call option as it canbe. Gamida, InSightec, Plaza Center, hotel, land,....... should worth something above cash.

  • kodakbond by kodakbond May 7, 2014 12:15 PM Flag

    Would some poster elaborate on this deal? Thanks.

EKDKQ
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