Increasing authorized shares isn't really a negative. Neither issuing outstanding. Take a look at all the secondaries BXMT has done in the last year or so continuing to recapitalize itself and increasing market cap. If business prospects are good with solid outlook ipos might be a good way to achieve size. But we still don't know if this is the case here. Sales need to get traction.
Giving credit to a bank for assessing the situation and giving them more money is the kind of wrong DD that takes you nowhere. For all we know, the company could have presented optimistic or even unrealistic projections. In other words, as far as DD goes this means nothing. It will take 2 to 4 quarters to see how management executes. Banks, lenders, bond issuers, and us investors we all make mistakes.
I still think this management means business. Great margins and going direct is harder but a more effective strategy. Now, if in 2 quarters sales team doesn't produce Houston has a problem.
From 8k- 9/4/2012
"The holders of Preferred Stock remain entitled to convert their shares of Preferred Stock into shares of Class A Common Stock at a rate of 2.44 shares of Class A Common Stock for each share of Preferred Stock at any time at the option of the holder." Conversion price of $20.495 per share of Preferred Stock,
The preferred shares have been reclassified as permanent equity. Diluted net income counts the converted preferred shares series A. Last 10Q states $46.4 million of Preferred Stock liquidation preference.
Last year they bought some at
In spite of the headlines last quarter was not a catastrophe.
Two things to note: a) guidance was stable with a glimmer of hope in that production and revs may increase due to potential pent-up demand, b) winding and idling the Illinois basin operations is a good move. NAPP coal is superior to Illinois basin and today's spot prices are markedly different $68.65 vs $46.65.
In general, despite poor pricing business appears stable if not solid.
It may not run this year but with a little GDP pick up later this year the stock might start to move. There is also the potential to bring in some additional cash from asset sales (3 mill approx from CC). Nothing in the cards appears to be saying imminent bankruptcy. I will continue to buy this totally boring stock while the company is still losing money.
Remember too. Warren Buffet's railroad purchase relies to a great extent in coal transportation. Coal will simply not disappear and usage may have reached a bottom last year.
I don't obsess about price too much unless it runs hard out of the comfort zone. I started lower but even on Friday I added 5k. I have 85k shares and will keep buying as good news or more information percolates. Even if it goes lower I may buy more. I would like to get to 120k to 150k shares. I always buy an initial stake and sit on it. Then, if I feel the time is right and numbers support my view I scale in. But it may take days, weeks or even months. Then, I sit on my hands.
I believe in the procedures these medical gadgets are for. My mother died recently of C1/C2 cancer and I became familiar with spinal decompression, fusion and related minimal invasion interventions. Talked to many doctors in the US and her own country.
BAXS is a tiny player with much larger competitors. However, in a growing segment there is a chance that benefits trickle-down. Given their size there is risk here. But I do not mind making mistakes. I shoot to avoid making too many altogether.
Do you mean Cummings selling 28,984 shares out of 6,429.2398 he owns? Or Smulyan selling 49,300 out of 8,441.4075 he owns? Or Loewen exercising and selling some stock options? Looks like peanuts. Maybe paying for taxes.
Thanks. They report Tue. We'll see. I am tempted to buy more but will wait confirmation after the CC. The lack of demand worries me a bit. I like BAXS. Bought a bunch at around $1.36.
Emmis is forecasting a 12% to 15% increase in health-care advertising this year, and up to 20% of that is expected to come from ACA-related advertising from insurers, hospitals and state-government agencies, Patrick Walsh, chief financial officer at Emmis, said in an interview.
The Indianapolis-based company's two biggest markets are New York and California, both states that have rolled out health exchanges. Mr. Walsh said Emmis's biggest radio stations are the hip-hop-music Power 106 and Hot 97, which target young, urban minorities. "Our audience is an attractive target for the exchanges," he noted.
"The surge in demand for coal from U.S. power plants is pushing up coal prices, and coal is by far the biggest cargo carried on U.S. rails, accounting for 41% of all rail tonnage and 21% of rail gross revenue; J.P Morgan argues that at some point, coal should provide a positive catalyst for railroad company stocks since it accounts for so much of their revenue."
Should the recovery in thermal coal prices prove to be sustainable there is the chance that a white knight may show up and align itself with equity. It's a big gamble but we will know soon. The closer we get to an industry turnaround the lesser the chances this will go belly up.
First, they need to survive.
Second, any capital infusion may have to leave equity in a good spot. There are ways.
Third, any advance in coal prices must be sustainable.
Fourth, for longer term appreciation reinstatement of dividends must be realistic.
I'd say if in the next few quarters bankruptcy is off the table the price could jump. But forget about a 20 bagger for a long time. Perhaps, forever.
I don't own anr. I own oxf which has 19 sites in northern and central appalachian and is a low cost thermal producer.