The money you smell has been in the cat litter box for 16 years. Maybe a cat dug it up in 2010 at $4 then reburied it. What a great return management has given to shareholders $4 to .46. Low float!? 264 MILLION shares outstanding and it trade over 2 MILLION shares a day. Growing? Growing what? Mold? Revs have been on a continual decline and they haven't made any substantial money during any qtr. Leveraged up their balance sheet and refuse to believe that changes need to be made. Just another Kodak moment by CEO.
CEO is an accountant not M&A guy. If he had any vision, he would have sold the tape business a long time ago when he could have gotten something for it instead of loading up the balance sheet. Starboard tried to get him to do that instead he's just watching it go to 0. By the way, under his watch, what has been the return to shareholders?
new CFO with restructuring/merger experience now get rid of CEO and sell off old no growth assets then maybe this POS will go up.
you'll hear the same thing as the last 20 conf calls, investing to grow revs, margins will improve, 20xx will be a growth year leading to profitability, new business opportunities will lead to accelerating growth...etc all the while they'll never earn a nickle and the stock will languish while mgt collect their paychecks. Don't believe me, go back and listen to the archived conf calls. All B.S.
the other 14 mil shares are held in family trusts... Includes 10,167,100 shares held directly by Investment Hunter, LLC, 4,000,000 shares held directly by Evans Equities LP, and 15,800 shares held as custodian for his children. It also includes 8,888 common stock purchase warrants at an exercise price of $2.25, 107,142 common stock purchase warrants at an exercise price of $0.01, 352,000 common stock purchase options at an exercise price of $18.91 per share, 1,000,000 common stock purchase options at an exercise price of $1.96, 1,000,000 common stock purchase options at an exercise price of $.90, 850,000 common stock purchase options at an exercise price of $1.65, 333,333 common stock purchase options at an exercise price of $1.15 and 400,000 common stock purchase options at an exercise price of $0.98. Gary C. Evans is the manager of Investment Hunter, LLC and the general partner of Evans Equities LP and his children are the beneficial owners of each.
section 363 sale must only be approved by the bankruptcy court and can occur at any time during the chapter 11 process. most section 363 sales are done by public auction. It is a competitive bidding process designed to generate the highest price possible.
Shrink shares to about 7.5 mil outstanding reducing liquidity and IF they get approval, massive short squeeze.
only positives I can find....not that'll make a difference
Mr. Edgecomb possesses more than 20 years of experience advising companies through cash management and cost reduction, capital structure refinancing, crisis management and business plan development for restructuring purposes. He has participated in more than 50 successful turnaround engagements in a variety of industries including food and agribusiness, retail, textiles, healthcare, engineering and construction, energy, transportation, and industrial manufacturing.
Garrison on hook for +100mil debt if they dont support company. "We appreciate the support of all our stakeholders, in particular our lenders who have provided additional funding to the Company and who have now provided this forbearance agreement which enables us to work towards enhanced financial flexibility and a brighter future.”
Revenues not a problem..its operational costs that have to come under control.
Lots of NOLs
No more big holders to dump stock after delisting
If they go bankrupt, you can take a nice tax loss for 2016 keeping income low enough to get Obamacare credits.