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I'm rather surprised this isn't getting more attention, which is fine because I'm adding to my position in anticipation of suddenly rocketing higher prices. Here's what I'm expecting in terms of the timeline that they've been forecasting.

1. Tomorrow, I am expecting a 10-K.

Schmidt added: “Our Annual Report on Form 10-K for the 2011 fiscal year will be filed with the SEC on or about December 9. Since the refinancing process will not be complete by that time, we expect KPMG LLP’s opinion on our consolidated financial statements will be modified to contain going concern qualifying language. We also expect KPMG will re-evaluate the need for such qualifying language in the audit opinion upon our emergence from Chapter 11 proceedings.”

2. I am expecting Lee (NYSE:LEE) to break $1 with the assistance of the January effect by January 7th 2012. $1 is a milestone because it gets the NYSE off their backs.

He said the refinancing process also is not expected to affect the trading of Lee Common Stock on the New York Stock Exchange in light of the expected meaningful continuing equity value to be retained by current common equity holders. Lee is currently operating under an NYSE-approved plan, which is subject to periodic reassessment by the NYSE, to address non-compliance issues, including the need to increase the average closing price to $1 per share in accordance with NYSE requirements.

3. As of their last press release (pdf), I am expecting the company to come out of Chapter 11 by the end of January.

"We expect to complete the restructuring process quickly and without disruption to our business, likely in 60 days or less.”

4. Back in 2009, it took 4 months after Lee first broke through $1 to break through $2. I expect this upcoming run to be eerily similar.

Disclosure: I am long LEE.

Source: Lee Enterprises Should Top $2 Within 180 Days