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Ecotality, Inc. Message Board

marty_2514 6 posts  |  Last Activity: Sep 9, 2014 12:02 AM Member since: Mar 29, 2006
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  • marty_2514 marty_2514 Sep 9, 2014 12:02 AM Flag

    No. It will be DOH!

  • marty_2514 marty_2514 Aug 16, 2014 6:28 PM Flag

    P.S. IMHO, whatever the shareholders do to avoid BK, it will have to be conventional. If anything far- out is proposed, no serious money, which is required, will be interested. Furthermore, no monetary payoff which is less than the full amount will suffice for the note-holders. It is obvious at this point that the greed shown by issuance of notes instead of stock not only put the company at risk, but is interpreted as an idiocy which precludes any new money from entering on the long side unless the current board is gone.

  • marty_2514 marty_2514 Aug 16, 2014 5:46 PM Flag

    BINGO

    Previously from Twinkle: "What we all need to do is to find out how many shareholders DNDN has.. - Take the $640MM debt and divide it by all the shareholders... "

    YES. I can only add a few fine details, but that is where the devil is. This would be a rights offering to to all
    shareholders (one right per share). Each right entitles the owner to purchase one preferred share for $4,00 plus his common share, and to "over-subscribe" for any amount he chooses., through a tender offer. Then if the entire offer is under-subscribed, bankruptcy ensues, and all subscription money is returned, UNLESS the bondholders accept the collected amount as full payment for the debt.

    If it is oversubscribed, than the over-subscription amount (above that owed by the notes) is proportionately
    returned. The preferred stock is rigged to give a stock dividend of 25% for 10 years so the non-tendered stock loses relative value. You heard it second here, folks. We shouldn't feel bad, since we're simply paying back the cash what we borrowed. And we got a good rate.

    P.S. The company should administer this for us, since they asked us for ideas to avoid bankruptcy.

  • Reply to

    BINGO

    by marty_2514 Aug 15, 2014 1:13 AM
    marty_2514 marty_2514 Aug 15, 2014 1:42 PM Flag

    Twink - Thanks for your informative reply about the notes value of 60/dollar. This makes the proposed tender offer even more likely to succeed ever if it were somewhat under-subscribed. Please note this offer in simply a practical implementation of your idea.
    A closed-end fund Liberty All Star (NYSE ticker symbol USA) uses this technique to issue additional shares. They issue the rights as a "dividend" to buy additional shares at a slight discount fron NAV (Net Asset Value). Since the fund trading price is usually less than the NAV, exercising the rights seems like a good deal for the investor.

  • marty_2514 by marty_2514 Aug 15, 2014 1:13 AM Flag

    Previously from Twinkle: "What we all need to do is to find out how many shareholders DNDN has.. - Take the $640MM debt and divide it by all the shareholders... The shareholders will pay their share to get the company out of debt and we can go on from here to make billions with Provenge.. Now, all we need is to have someone contact all the shareholders and have everyone of them cough up their share... Otherwise, all the shareholders might be wiped out in 2016 or earlier... ANY COMMENTS OR TAKERS.?"

    YES. I can only add a few fine details, but that is where the devil is. This would be a rights offering to to all shareholders (one right per share). Each right entitles the owner to purchase one preferred share for $4,00 per (preferred share, and to "over-subscribe" for any amount he chooses., through a tender offer. Then if the entire offer is under-subscribed, bankruptcy ensues, and all subscription money is returned, UNLESS the bondholders accept the collected amount as full payment for the debt.

    If it is oversubscribed, than the over-subscription amount (above that owed by the notes) is proportionately returned. The preferred stock is rigged to give a stock dividend of 25% for 10 years so the non-exercised stock loses relative value. You heard it second here, folks. We shouldn't feel bad, since we're simply paying back what we borrowed. And we got a good rate.

    P.S. The company should administer this for us, since they asked us for ideas to avoid bankruptcy.

  • Reply to

    Another shorty myth DEBUNKED

    by quantbyte Aug 12, 2014 12:35 AM
    marty_2514 marty_2514 Aug 12, 2014 10:06 PM Flag

    " Sell some of it... pay off bondholders & bank some operating cash."
    IMHO, the reason this can not be done (as is) is because the bond debt is $4.00/share, but the stock value is only $1.40/share.
    However, in concept, a tender offer could be made to all share holders to simply tender the $4/share with unlimited over-subscription privilege, and if it completely subscribed, simply pay the bond holders. This results in no dilution. In short, give the longs a chance to put their money where their mouths are. P.S., this will probably wipe out the shorts. Rain-barrel, anyone?

ECTY
0.1240.000(0.00%)Sep 26 4:00 PMEDT

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