the filing says that preferred stock will be issued if shareholder exceeds 5%. don't know if this is self-dealing by debtors or mgmt trying to protect themselves or what.
there might be manipulation, but so what if there is? it's not hard to manipulate a stock if you control all of the debt and the fate of the company. there is no way to win win the other guy is the dealer and can see your cards.
I said the company will survive, not that the stock will survive. The lenders could issue themselves 100m shares in exchange for some of the debt. That would leave the shareholders holding the bag, as the saying goes. And I was right about 40c, have you looked at the stock price?
probably will get delisted, which isn't a big deal. I haven't noticed that listing/delisting ever does much for a stock. it all depends on what the lenders do. UNTK is worth more alive than dead (in order to keep the DTV contract, UNTK has to stay out of default), so it probably will survive, depends how much bad the terms are. Basically a coin flip at this point.
WOW: Debt capital markets revenue was nil in the second quarter 2014
strategic advisory revenue was $400k. that doesn't even pay for the taxi bill.
expenses up 25% and revenues up 14%. there was lots of (probably sandbagged) investment income, but invest income shouldn't increase expenses. and even with all that investment income, tangible book increased by a nickel. embarrassing.
it's one thing to be a disaster, it's another to crash and burn after things started to look a little better. total catastrophe.
AMD wiffs massively, stock drops on huge volume, and the market soaks it up like a dry sponge? This is the must bullish action imaginable. Chart is indestructible.
that's the best the shorts can do? once market realizes doom is not imminent, will march back over $4. the bull case is intact because the pc business is not the past. sellers & shorts are in the past.
the chart hasn't broken. it's still at the old support. if it holds the support this week on this massive volume, that would be bullish, not bearish. the stock wasn't going to turn around in one quarter. yeah, the old business sucked. but everybody knows that business sucks. the sooner it dies the better. this stock trades on the new businesses, not the old business.
this is painful. not only was I right about zipr and didn't make a dime, I also managed to lose money. oh well. I'm quite amazed management managed to do such a big deal without anything leaking. and there must have been more than one bidder or else the price wouldn't have been quite so rich.