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BlasterMan

BlasterMan
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  • Microsoft Hopes Its New Plans Will Improve Its Stock And PC Sales [View article]
    Wow, smagnone is clearly a Microsoft employee. I look at your posting history and it is NOTHING but comments defending Microsoft.

    The Xbox One is going to be a failure and Windows 8 has been one of the worst selling Windows OS's in years. That's why Sinofsky was fired and Don Mattrick is leaving the game's division, Mr "If you don't have good Internet just go buy an Xbox 360 you poor loser" himself.
    Jul 3 11:49 AM | 1 Like Like |Link to Comment
  • THQ Is In Technical Default On Credit Facility [View article]
    A bunch of folks jumped into the stock last week after Tuesday and Wednesday's declines. I imagine many of these same people took losses today. They haven't been with THQ long enough to know that something was coming. People that have been holding a long time knew something was coming though most were hoping it was information on a buyout. This is the way THQ's management has been doing things for quite some time and I think it came as a huge surprise to many of the new shareholders.
    Nov 12 06:09 PM | Likes Like |Link to Comment
  • THQ Is In Technical Default On Credit Facility [View article]
    Here's my assumptions on the value of the studios and what's currently in development. I don't think anyone is going to buy Volition and value Red Faction at much of anything. The next Saint's Row game has already had a lot of cost sunk into it so it won't be a huge money sink for a buyer and I would say it's safe to assume that any buyer would go in thinking that it would match the sales of Saint's Row 3. So 5 million Saint's Row 4 sold. About half of them at $60 each, then of the remaining 2.5 million copies, half sold at 40 and the other 1.25 sold in the 20-30 range.

    So lets round up and say that a purchaser will assume SR4 will generate 250M revenue (plus they have the cost of development for the next 9 months).
    South Park, you can probably assume 2 million sold in about 5 months so that would be pretty valuable since most of the development will be done.
    Company of Heroes I'd assume would sale 500k.
    Metro Last Light 1.5 million copies sold.

    SO lets go with those assumptions, how much do you value the company at if you're the buyer?
    Nov 11 04:04 PM | Likes Like |Link to Comment
  • THQ Is In Technical Default On Credit Facility [View article]
    THQ spends a lot on advertising. In the last quarter they spent 36 million on product packaging + advertising. Most of that would have been spent on Darksiders 2. It's not unreasonable to assume they spent the same on WWE13 which recently came out + there is the ramp up in packaged products for the holidays which would add a lot of expenses. I wouldn't be in the least bit surprised if THQ blew through 40 or 50 million on product and advertising in the month of October between WWE13 and the holiday costs.

    While I think the expenses are much higher than you're guessing, I do think they're also hoarding cash to some extent.
    Nov 11 09:33 AM | Likes Like |Link to Comment
  • THQ Is In Technical Default On Credit Facility [View article]
    One thing is for certain, this (5 year) turn around is almost over. I'm ready for this to be done and over with. THQ has become an unhealthy obsession for me after investing in it. Even now that I"m out (for now), I still can't let it go entirely. I want this thing to move to resolution and luckily it's going to happen soon.
    Nov 10 07:04 PM | Likes Like |Link to Comment
  • Evaluating THQ's Financial Position And Enterprise Value [View article]
    THQ defaulted on it's 50MM line of credit with Wells Fargo. Look at the 10-Q filed today: http://bit.ly/Zg0QHw
    Anyone wish to speculate what's next? I love how they did this on a three day weekend.
    Nov 9 08:15 PM | 1 Like Like |Link to Comment
  • Tremendous Upside Potential On A THQ Bet [View article]
    I was kind of hoping you'd come back with some feedback and opinion on the default as to it's impact on shareholders...
    Nov 9 08:05 PM | Likes Like |Link to Comment
  • Tremendous Upside Potential On A THQ Bet [View article]
    What's your opinion of the default?
    Nov 9 07:19 PM | Likes Like |Link to Comment
  • Tremendous Upside Potential On A THQ Bet [View article]
    BTW, you're talking about the bonds. That's not what they defaulted on, it was the 50MM Wells Fargo credit line. They used too much of it to run the company.
    Nov 9 06:53 PM | Likes Like |Link to Comment
  • Tremendous Upside Potential On A THQ Bet [View article]
    I wish everyone the best. I was quite depressed when I sold for an 80% loss but god knows what will happen now.
    Nov 9 06:50 PM | Likes Like |Link to Comment
  • Tremendous Upside Potential On A THQ Bet [View article]
    It's in the 10-Q dated today.
    http://bit.ly/Zg0QHw
    Nov 9 06:48 PM | Likes Like |Link to Comment
  • Tremendous Upside Potential On A THQ Bet [View article]
    Sorry guy, they just defaulted on their loan with Wells Fargo.
    Nov 9 06:30 PM | Likes Like |Link to Comment
  • Tremendous Upside Potential On A THQ Bet [View article]
    Defaulted on their loan. The debt was more of an issue I guess.
    Nov 9 06:29 PM | Likes Like |Link to Comment
  • Tremendous Upside Potential On A THQ Bet [View article]
    Piccaso, how do you think THQ pays the debt + recapitalizes? I understand gambling on a buyout but I don't see how they continue operations without recapitalizing when Rubin said that the delays would cause a cash crunch.
    Nov 8 07:33 AM | Likes Like |Link to Comment
  • Tremendous Upside Potential On A THQ Bet [View article]
    You neglect to mention the possibility of a debt to equity conversion diluting the current shares then the company recapitalizing with a new credit line. Go back and listen to the call. Brian specifically said they were taking care of the debt. Buyout, bankruptcy, conversion. How else do they deal with the debt? They don't have the cash to fund operations without additional capital. Unless there is a buyout, I don't see how you can suggest this is a good deal right now since there are few ways to recapitalize the company and deal with the debt in one stroke. Go buy the bonds, they are trading at 24% of face value.
    Nov 8 07:13 AM | 1 Like Like |Link to Comment
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