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Andrew Shapiro  

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  • Willbros Group - Opportunity Strikes In This Beaten-Down $2 Oil Stock [View article]
    What we eventually receive in value for this company is completely mutually exclusive of what we may have paid for it.
    May 22, 2015. 01:33 PM | Likes Like |Link to Comment
  • Small Cinema's Antitrust Win: Big Implications For Large Exhibitor Chains [View article]
    So the case in my old article above was a Cal Appellate decision that sent disposition back to the trial court. I would have thought the matter would be done by now but I revisited in light of the new compelling suit against AMC in Texas. The wheels of justice are indeed slow. I am trying to pin someone down to discuss status and remaining issues.
    May 7, 2015. 03:52 PM | Likes Like |Link to Comment
  • Small Cinema's Antitrust Win: Big Implications For Large Exhibitor Chains [View article]
    $RGC $AMC $CNK $CKEC Clearances going away? - DOJ probes major theater chains over antitrust claims http://bit.ly/1Ps17iW

    Elimination of clearances would be good for mid-size exhibitors like $RDI $MCS
    May 7, 2015. 01:43 PM | Likes Like |Link to Comment
  • Amazon: The Situation Worsens [View article]
    Doesn't anyone read threads correctly here? Upatnite, I made the same point as you. And that point was in response to my questioning the author who contended in the article that additional debt would be issued, increasing interest expense and lowering profits further.
    Apr 29, 2015. 04:47 AM | 2 Likes Like |Link to Comment
  • Amazon: The Situation Worsens [View article]
    You miss the point to which I was responding. It was asserted that debt would be issued because to issue new shares would cause the stock price of AMZN to drop.
    Apr 28, 2015. 05:37 PM | 2 Likes Like |Link to Comment
  • Taser, Digital Ally rally following Baltimore riots [View news story]
    What is being missed is all the pepper spray and tear gas being CONSUMED both on the protest/riot lines and in increased police training. $MACE Mace Security International remains totally under investors radar vs. $TASR and $DGLY which makes one-time sale of a camera.
    Apr 28, 2015. 05:34 PM | Likes Like |Link to Comment
  • Amazon: The Situation Worsens [View article]
    AMZN shares are at risk of falling any given day. To issue stock at these levels is far far lower cost of capital than to issue more debt that would further increase losses. These same very losses you separately argue that should take the shares down on their own.
    Apr 28, 2015. 04:03 AM | 2 Likes Like |Link to Comment
  • Amazon: The Situation Worsens [View article]
    Bill,
    You state "As Amazon's balance sheet continues to worsen, the company will probably take on more debt rather than sell shares."

    Why? Especially with valuation multiple where it is, why wouldn't $AMZN improve its balance sheet with and equity issuance or lower expense convertible debt issue?
    Apr 27, 2015. 10:27 AM | 2 Likes Like |Link to Comment
  • Bottom Of The Barrel: Is It Time To Go Bargain Hunting In The Oil Patch? [View article]
    Nice article.
    Apr 27, 2015. 10:19 AM | 1 Like Like |Link to Comment
  • Willbros Group - Opportunity Strikes In This Beaten-Down $2 Oil Stock [View article]
    Guess your sentiment is what WG mgmt and KKR hoping for
    Apr 23, 2015. 10:32 AM | 3 Likes Like |Link to Comment
  • Small Cinema's Antitrust Win: Big Implications For Large Exhibitor Chains [View article]
    Here's a new suit along the same lines involving AMC in Texas

    http://bit.ly/1J7wikR
    Apr 21, 2015. 03:02 PM | Likes Like |Link to Comment
  • Willbros Group - Opportunity Strikes In This Beaten-Down $2 Oil Stock [View article]
    You are absolutely right. 16.6% of the company without a dime of new money or elimination of principal payment owed (conversion) was a clear giveaway. This form of payment for covenant relief has the effect of further positioning management, the WG board and KKR for eventual take-UNDER of this company when the cycle turns back up.

    BTW it wasn't even clear the current covenant was in current violation. The company's updated reduced projections showed a likely breach during the coming year. The issue was stated that auditors didn't have a full year's visibility that a covenant wouldn't get breached so a going concern opinion would have been issued (admittedly not good for a long-term pipeline construction concern to get NEW business). But just shy of 20% of stock issued (effectively 16.6% POST-issuance) was clearly to also avoid shareholder vote at upcoming June 9 annual meeting.

    WG mgmt and board has very little, if any, credibility with Auditors, lenders and investors right now.
    Apr 18, 2015. 01:43 PM | 2 Likes Like |Link to Comment
  • Willbros Group - Opportunity Strikes In This Beaten-Down $2 Oil Stock [View article]
    The author is greatly mistaken to draw any inference of a new equity investment in the company. Over 10.1 Million shares (just shy of 20% pre-issuance) comprising almost 17% of Willbros Group were GIVEN AWAY to KKR Lending solely for providing loan covenant relief and for only 1 year.

    WG's board and new management only set these loan covenants a few months earlier, bragging how great it was to have KKR as lender. Now they brag about KKR as equity partner. But the fact remains KKR has a senior claim to our equity and was given all the equity they may want for an LBO take-UNDER in the future.

    This situation is crazy out of control
    Apr 15, 2015. 05:59 PM | 11 Likes Like |Link to Comment
  • Bought 2 Gastar Exploration 8.625% Senior Secured Bonds Maturing In May 2018 [View article]
    I am not sure you have accounted for the higher tax rates associated with market discount rule which requires recognition as ordinary interest income the amortized value of purchase price below 100 par.
    Apr 14, 2015. 10:10 PM | Likes Like |Link to Comment
  • Premier Exhibitions: Worth A Look After 62% Share Price Decline Over The Last Year [View article]
    I hope we get 8-k with disclosure of material documents. If the new loan was drawn on to pay out Pentwater on 3/31, technically the details are long past due on EDGAR.
    Apr 8, 2015. 09:10 AM | Likes Like |Link to Comment
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