Member Info for mountainous

FunInvestor- If Polygon thought that the price of CINE was going to decrease further, they wouldn’t be decreasing their short. They are taking profits now. The same applies inversely to long-term investors. If they believe that the price of CINE was going to decrease, they would take profits now too.

In addition to that, describing shorting CINE as ‘smart investing’ has me slightly concerned lol. I am very intrigued to see how you call yourself an ‘impartial and balanced’ CINE investor when you think that the people actively investing against it are achieving so-called ‘smart investing’.

FunInvestor if they were sitting comfortably they wouldn’t be reducing…

No AMC earnings tonight it would appear, but Cinemark is presenting this Friday before the market opens

They operate in a slightly different area to us, but I believe it will still be useful information nonetheless.

They’ve reduced about 0.3% with Thursday’s and Friday’s combined reduction.

What really is quite strange is how there was such a large movement of shares on Friday at 8:45 with very minimal movement to the share price. My feeling is that a market maker decided to deploy additional shares out into the market at the exact same time (so-called ‘liquidity’), so that it would not cause a surge in demand.

There is a limited number of shares these market makers hold, the sooner shorters leave the better it is for them. If they leave it too late they will have to directly put the order out into the open market with the surge in demand and the sp coming with it.

Interesting BlueBuxton, I must have not heard that part.

I must apologise I have now stopped listening to it, because 1) I must protect myself from losing my sanity, and 2) I have some work I need to do lol, I will be popping in and out, I would like to hear what Mr Mark has to say haha

What the actual fudge, so Ms Rosenthal is saying that a minor departure from ordinary course isn’t of significance and that it needs to have a material effect.

What in the heck isn’t material about delaying payments for 100+ days when it was half of that before in many cases (from what I remember).

I have lost a considerable amount of brain cells listening to Ms Rosenthal today, more than usual.

This has now been probably over 20 minutes she has been talking about how we went into a pandemic. Yes, we know we had a pandemic, the problem is that cineplex was paying back debt whilst everyone else was increasing it. I have no idea how she stands there and says that cineplex didn’t stray from ordinary course.

By the looks of things, these closing statements are essentially a last ditch attempt. So when cineplex is done (I’m praying it’s by the end of today) then we will come on with our counsel and lay out our side of the story. The best part is that we are coming last, so we can not only defend ourselves but also knock down some of cineplex’s baseless claims.

Honestly, I wish we could get the recording of the court proceedings after the case is over

If cineworld could show it in their cinemas too I’d be first in line for it, best comedic piece of the year.

I did not BlueBuxton, but I’m listening for the rest of the evening XD

I don’t blame the judge for saying she was confused lol

Ms Rosenthal: ‘A material adverse event is an event which is materially adverse’

You learn something new every day.

Thanks for the update, watching it now

Mr Mark is saying that any reasonable businessman would begin to draw on debt and to defer payables. So then why was Cineplex paying back debt back in March if ‘any reasonable businessman’ would draw on debt?

What was the schedule like? And what is the justice doing right now? Asking questions regarding their side of the case?

It’s a good question Stanley, I don’t quite know why either…

BlueBuxton I’m running straight to it at 3!

Hopefully he keeps his gob shut for the first hour XD

Spot on antmoss, there were people here who said that they had sold at 60s and then the week after the price went straight up to 80s. It’s also an element of missing out and also the fact that I have genuine faith for the company.

Our day will come soon imo :)

Thank you BlueBuxton, excited to see Mr Mark again after over 2 weeks haha

I’m busy until 3 unfortunately but after 3 i’m straight on there lol, keep us updated please :)

What happened back in January in the US stock market with GME and AMC was black and white proof that short sellers, market makers and other entities conspire and converge together for their own benefit. They don’t give a flying fu*k about retail investors. They think of us as obstructions to their goals and as people who dilute their power within the stock market, and that’s exactly what we are.

Let alone the fact that we have the highest short interest of any stock in the UK. CINE is a festering point for short sellers. There is one thing that stands in their way, and that is us. The holders of 24.1% of the entire outstanding stock of CINE. Our actual influence is much higher than what you may think. We retail investors and the short sellers are all competing for the same stock.

For retail investors, the only available stock is the free float. From the ownership breakdown ( https://uk.finance.yahoo.com/news/kind-investors-own-most-cineworld-091007372.html ), I see retail investors hold about 331,342,034 shares of CINE. With a float of 902.6M, that means we own 36.7% of the free float. That is a substantial proportion. With the vast majority of other stockholders being large institutional investors it leaves very little room for short sellers to cover. This, combined with the low daily volume and an improving outlook for the company, means short sellers are in a critical position.

They want to shake you out. It is for their own good. We all know the intrinsic value of CINE and we all know what we came here for. We didn’t come to exit our position at a large loss, and we didn’t come to help the short sellers out, just as they haven’t come to help us. There is an intense competition for your shares and the constantly low daily volume is showing that nobody is selling up for them.

The box office is recovering.
The debt is manageable for now.
The court case is nearing completion.
The COVID cases are decreasing.

No institutional selling.
No executive selling.
No selling from mountainous either.

*not financial advice

Have yourselves a great day, lovely to see a nice green sp as well, as antmoss likes to say ‘green is green’ :)

AMC Earnings up tomorrow, but thought i’d share some highlights from the IMAX earnings on Thursday.

- IMAX reaches turning point at global box office -- breaking record for highest grossing month of October, delivering September grosses above 2019, and generating $142 million (+100% YoY) in Global Box Office for the Third Quarter

- The Company delivers strongest Global Box Office, Revenue, and Gross Margin since 2019, with blockbusters and consumers returning to cinemas in force and studios recommitting to exclusive theatrical releases

- IMAX expects accelerating pipeline of blockbusters set for exclusive theatrical release to further build consumer momentum worldwide, with a wealth of franchise tentpole films slated in Q4 of 2021 and 2022

Total revenue is also up 51.9% from this time last year, and their net loss is down by 82.3%.

Roll on AMC earnings and CINE earnings in March…

For those wondering what time the AMC earnings will be, I couldn’t find a specific time but looking back at their previous earning reports they hold a conference call at about 4pm CDT, which is after market close. So my assumption would be that it gets released tomorrow after market closes.

In terms of the $2.1bn amount that CP are suing for, I think it is a solid and proven fact that $2.1bn is not coming. Even if you put the big points of contention aside like the ordinary course clause and the debt etc, you cannot deny that the claim for synergies is a lot of nonsense.

Cineplex wanted to claim quite a few millions for their so-called ‘loss of synergies’, even though it would be the purchaser (CINE) that would claim the synergies because we would consolidate Cineplex’s operations into our own. Mr Carlucci brought this up during his testimony and Cineplex counsel tried to counterbalance it but it was a complete shipwreck, they couldn’t defend it at all.

So based on the synergies alone, you can see that $2.1bn is not coming no matter how you look at it imo. That excludes the fact that (again imo) Cineplex strayed well afar from the ordinary course as we saw from their debt repayments back last March when everyone was accumulating more debt. Cineplex was deferring payments and then paying back debt and they want us to somehow believe that everything was ordinary course? If they had the money to pay back debt, then why did they not pay the suppliers and the landlords instead of deferring it? I would even say they intended for us to take that deferral and to pay it on their behalf later, as the acquisition deadline was only about 3 months away.

Anyways, we will leave it for the lawyers and the judge. Everything has been laid out in black and white, so now we have their closing statements. I am really hoping that the judge can give us an approximate date for when we can expect her judgement. Fingers crossed :)

No worries PW, glad it helped :)