Coming up with cash? Are you serious? They have $166 million in cash sitting there since they did a convertible note placement months and months ago. CEO has been patiently pursuing the right deployment of this cash, and now he's done it, with lots left over. There isn't any financing needed here.
Sentiment: Strong Buy
$51million in deferred tax asset is worth $2/shr on top of tangible book value. As the Fed begins to raise rates, PBIB will earn its way up, tax free! Very important for 'invisible' value here.
How can one know for sure if the conversion factor is still valid? The original MOU expired in Oct 2014, subject to extension, and now the PT asset sale has closed... The MOU had been a contractual certainty on conversion; what exists today to deliver that certainty? Is there even a timeline to share class simplification?
3.5million shares crossed the tape pre-market at $15.25/shr. This no doubt was part of the selling shareholders' 10million+ shrs recently approved for sale. So some broker takes a big haircut from the seller, and we all get hosed? Hold on to your positions, price surely will recover, because it's just a liquidity bump. Not new shares being issued by the company.
Since they no longer are a 5% shareholder, will we no longer see their additional sales if they are working down the remaining 3.8% stake in JOEZ?
On Dec. 10, the company issued a press release about capital transactions that ended as follows:
Assuming the fair value of the Series E and F Shares to be equal to the aggregate $10.5 million liquidation preference of those shares, then upon shareholder approval the Exchange would improve common stockholders’ deficit from approximately $9.0 million as reported at September 30, 2014 to common stockholders’ equity of approximately $26.2 million and would decrease preferred stockholders’ equity from approximately $38.3 million as reported at September 30, 2014 to approximately $10.5 million. This results in a pro forma tangible book value of $0.99 per common share as of September 30, 2014.
So I ask: how can this stock possibly be trading down after such an announcement? What am I missing?
Could someone please enlighten me as to what's going on with XOOM today? Volume is somewhat elevated, but given the huge% increase there must be news / rumor??
Is today's early action based on this coverage initiation? What is the price target they're giving?
Today Dunkin Donuts had news about its testing of polypropylene cups in select markets, with a national rollout if successful in these tests. I see from Berry's investor presentation on its website that Dunkin Donuts is Phase II of its Versalite cup. Does anyone know whether testing Dunkin Donuts is only testing Berry's cup, or if there are several manufacturers' cups their testing?
What do you know? Please share!
Attracting new customers is a problem, when you feel you have a "product relevancy problem"! I am surprised that the stock recovered from its premarket lows.