Member Info for Hexam

"@magmanus - Just ignore the haters and keep sharing your knowledge!"

What knowledge? The clown keeps regurgitating the half-year results and claiming CINE was in profit. Anybody with even the slightest knowledge of CINE knows that is untrue. Many other false or misleading statements in his non-stop ramping are a danger to any unsuspecting newbie but at least anybody else shouldn't be fooled.

Things for CINE do look a lot more encouraging now with the clearing of funding hurdle but there is still a lot of risk.

Wolf - see, it’s not easy to ignore his nonsense :)

As well as not being profitable in H1 they are also now publishing monthly accounts for the business excluding ROW , with the latest (September) showing a $120m loss after tax.

Should make a profit though in November and December with Black Panther and Avatar but they don’t expect to make consistent monthly profits until at least well into 2023. All ‘verified and verifiable’.

Because of the losses, and the debt this meant it could no longer service, they went into Chapter 11. They have now secured the funding to cover the expected losses until June next year so let’s hope it’s sufficient and they can find a way out of this with the lenders that doesn’t harm existing shareholders too much. All to play for.

"Block de-rampers, as ball is with the longs now."

I am a long. Just one that can read basic accounts and understands the problem they're in. I'm still very hopeful the sp can rise which I think it will do unless they can't escape C11 or only with a very penal D4E. If the D4E is much more favourable, or if one is not needed at all, then the rise should be substantial.

Unfortunately though this share has attracted a load of short-term gamblers, pump and dump merchants and trolls. GL to all the sensible posters though who are trying to see through the dross and decide what best to do - especially the LTHs (like me) still far underwater.

"idiot
operating profit is positive too! do you need glasses! bugger off."

Yes operating profit is positive and I said so - is it you that needs glasses?

Overall though they made a loss before tax in H1 2022, once allowing for ALL income and ALL costs, of $364.9m. So they are not profitable. Why is that so difficult to understand?

Thanks Wolf - and as to not bothering with magmanus, I can ignore his mindless ramping for the most part but when he posts a whole bunch of financials without any clue what they mean and comes up with the ridiculous conclusion that CINE has been making money this year it's just too much. That post got 9 upticks too so clearly there are plenty being misled by his nonsense - but if they still believe him after seeing the correct information or not doing their own research then fine, that's their prerogative and problem.

Quite clearly magamanus you can't read accounts. Yes EBITDA is positive and so is operating profit but both of these exclude a bundle of costs. Once you allow for all the other costs (including those for both rent and interest) H1 was a loss of $364.9m.

If CINE was profitable this year and cash flow generative it wouldn't be in this mess. It can hopefully get out of it but it won't do it any the quicker whatever misleading or outright false information that you post. And there seems to have been plenty of that from you today.

“Now a profitable business with good turn over. “

No it isn’t. It made a loss before tax of $364.9m in H1 2022 and by its own forecast doesn’t expect to be cash flow positive until at least the second half of 2023.

The only thing ‘clear here’ is that you keep posting nonsense. Endlessly.

Hi AllKap - I don't see any issue coming out of bankruptcy if cash flow is still negative so long as the expectations of all the key players is that it is short term and there is enough at that time by way of existing funds to cover any expected further losses. The bigger question is around what price is going to be paid for all this support from lenders as I can't see them being happy for CINE to exit Ch 11 with them still holding around $6bn debt. So would expect at least some to be swapped for equity or some other dilutive action taken (or a sale of some sort).

Why? What's it going to say that the market doesn't already know?

"Will they even issue one? X;) should be next Tuesday……"

Their quarterly accounts are also due soon (came out on this day last year)...may be a read through the fingers job!

Sorry AB but I've probably put the kiss of death on CLSK as I've just invested too and my timing sucks. Already in HUT, and CLSK seem to be the opposite end of the spectrum - so hopefully at least one of them will come good.

'Being real' there are no strong sources saying the Chapter 11 is going to be cleared up. An agreement was reached to clear an important hurdle (the debt refinancing) but it is still very early in the process and all options are still possible. If in any doubt see the reports which also say Cineworld 'also agreed to explore a potential sale of the business and allow creditor input on its business plan.' So a long way from knowing what exactly that plan is and what the impact on shareholders will be - hence the still depressed sp.

"I believe I read somewhere that 60-70% of the shares held are insiders and IIs."

That was based on dodgy info. Somebody posted a much more credible list (@patiencebringsit?) which showed it to be a lot less and that excluded the spurious entry for HSBC, the entry for Polaris (as now exited), HL (retail money held by PIs) and others.

"We have not had any confirmations of the media reports"

Yes, we have. Court doc 676. Just not heard it from CINE (as always).

Hi mountainous - I don't think there has been any actual 'settlement' yet, just agreement of the DIP financing and some other things. The court doc runs to 96 pages which I haven't read in full and probably wouldn't understand if I did given legalese in which it is written. It would be good to have a plain English version via an RNS although the updated financial plan at the end is useful in itself.

So I think all the options like a full/partial sale, D4E etc. are still in play but if you or anybody else has the stomach to plough through the whole document and suggest otherwise then would be happy to be corrected.

Trevorgerald is just yet another one of those turning up and talking their own book, or rather shouting it. Loudly and incoherently...and, in Mags case, incessantly as well.

Indeed @Tegop but 'considering' and 'acting' are very different. Agree though - just my view.

"Like others, I think some of the new releases should see some good levels of cash roll in."

Steward1- Yes, there are some big movies coming up but just be aware that from their own financial projections (at the end of docket 676) they expect to be cash flow negative as a whole up to June 2023 (only positive months expected are November, December and next June) hence the need for the additional working capital (was just over $500m now $664m).

The longer term prospects as cinema recovers look a lot better but even with Avatar, Black Panther and other blockbusters they don't expect to be profitable for a while (there's just not enough product yet to support the blockbusters).

As to any sale I really don't know but even if it does take place there is no guarantee of much benefit to shareholders. Any buyer of the whole lot would be taking on around $6bn of debt (including the DIP financing) plus I agree, I don't think it is something Mooky is keen on.

@bullsbears

Certainly not a silly question and wish I could answer it with confidence but it's a very complex situation with many obstacles to navigate and a host possible outcomes. What those obstacles are is anybody's guess but yes, it includes CP and whether the new working capital will be sufficient.

In my view this was a crucial step and clearly the market thought so too hence the sp rise yesterday. But obviously if CINE were already 'out of the woods' then it would have risen a whole lot more.

I think a lot still comes down to the DIP lenders. If they are confident that with this funding CINE could prosper enough to not only make decent profit but enough to service all the debt then it's just possible CINE and its shareholders emerge unscathed and today's sp just looks silly in hindsight. But personally it's hard to see that and I expect a D4E to still hit as the price for the bail out. If this happens I still think 7p is cheap but it all depends on the terms of course. And obviously there is still the chance it could not exit C11 at all and we lose everything. A sale is also possible but again the terms will dictate the benefit for shareholders.

So plenty of unknowns and everybody just has to take their position. The flood of idiotic rampers and malicious trolls on this board over the last few days and weeks clearly shows there are plenty that have already done so.

“$1bn to refinance the priming facility more than start of year”

This is NOT new money. It’s new loans paying old loans - and pushing those lenders to the top of the priority ladder.