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Friar, what is hilarious is that a lawyer is trying to disprove a KPMG financial guy and trying to disprove with her rudeness

Thank you very much LPD for your valuable inputs.

KPMG witness is very good at numbers so let's see how low he will reduce the CP numbers.

Also some who think big funds do not watch the court case and wait only for the end outcome, let me give an example. Oil investors daily watch shipment movements to assess the amount of oil that is offloaded and based on that they assess, how much oil a company produces and the numbers they get almost matches with the actual numbers from a company update! Likewise, with Tesla and other car companies, investors/analysts look at the sales of their cars across the region and comes up with a reasonable estimate that most of the times closely matches with the actual numbers from the company.

Likewise, investors/analysts in CINE watch BO and the court case and make a reasonable assessment of the outcome. We have Polaris who must have reviewed the proceedings of the court case and they increased their stake by 6M and we know what happened after that. SP gone up to 84p! Why would they increase their stake? Of course 6M cannot hold the fort. We have a blue rise today unlike the red we see on opening most of the days and that is good enough.

Fantastic post LPD, RM22 and all others.

KPMG Senior guy clearly showed all the evidence including how they underspend during the interim period compared to the past practice period attempting to keep the debt in limits to not to breach. He also showed how AMC and Cinemark spent in Q1 and Q2 compared to what CP did. It definitely is straying out of the ordinary course and that is what KPMG Senior concluded too.

Yup, based on y'day evening's court session, I expect a minimum 10% rise. KPMG Senior vice president gave the testimony on how CP breached their debt limit all in black & white. The only way they can defend is covid reasons, which cannot be considered as per the agreement.

am just loving the way he is describing how bloody criminals deviated and breached their debt limit!
10% rise minimum please tomorrow!

game on!

Few big trades went through! Off the book trade for £74k at 68.13

idiots will keep talking down about CINE. They were doing the same before the 30% rise just couple of weeks back from 60s to 84p! All those who were waiting for lower entries missed the rise to 84p.

There will be another rise to 80s soon due to the plenty of catalysts that I previously listed and the latest catalyst to consider is the trading update.

Trading update in November most likely, which is just 1 month time away. This will be an update for Q3 and we know, this update will be the best of all since covid! Big box offices from F9, BW, Shang-Chi and updates on Bond, Venom and others too!

The Office for National Statistics (ONS) said the services sector made the biggest contribution to economic growth in the first full month after all Covid restrictions were lifted in England.

It said arts, entertainment and recreation grew 9%, boosted by sports clubs, amusement parks and festivals.

You can bet that even Cinema revenues as well grew due to the staycations.

Checking the calendar in 2018 and 2017, there was TU in November mid. In 2019, TU was in Dec.
I guess we will see a trading update in November.

Tweeting almost every day and people tweeting back saying they are enjoying the cinemas -

First time back at the cinema in a very long time . I’ve missed it so much.

#JamesBond @cineworld

Booked @VenomMovie
for Sunday at @cineworld
#Basildon. Two cinema visits in two weeks and the eldest wants to see @dunemovie
too - them doing film studies is a great excuse! ??

No matter how CP see it or the judge or CINE, the litigation arised because of COVID. COVID is having a detrimental affect on everyone and awarding the case in someone's favour is just unfair. Judge will also need to consider the impact of completing the deal as closing the deal would immediately lead to bankruptcy of both Cineplex and Cineworld.

In good faith, CINE made an offer removing any god's event and Cineplex are forgetting this and they are now retaliating that CINE did not act in good faith in terminating the deal. It is just outrageous!

If this litigation araised when there is no covid at all then, yes, by all means let's examine every detail with a fine tooth comb.

This case should clearly end in 0-0

HNS, I agree KPMG guy became weak and came under pressure. These bloody lawyers can put anyone under pressure and can even teach some technicals to Elon Musk as well and even Elon Musk might crumble or in the end may show the middle finger. Their lawyer Julie was also trying to prove the point that CINE deferred the payments as part of "ordinary course" of action due to covid and so they did the same so there is no deviation from the ordinary course, which sounds correct but if covid is to be considered when making a decision, Barbara should look in the same angle on CINE. If Covid wasn't there, CINE would have completed the deal.

MoneyP1t, you made a good point. They deferred the payments in March itself. If I rememver Cohen was saying that they were deferring some of the payments since 2019 or in the first 2 months of 2020?
Cohen was also saying that no one envisaged covid situation in March to be a long covid causing cinemas to close for such a long period. In fact Cinemas opened in July briefly and the talk of opening in Summer was on the cards much before July and that is why Cohen was sticking to the story that CINE was always in committment to close the deal as long as they don't breach!

KPMG guy did say that deferring payments is not part of ordinary course and he did say that adding those would increase the debt and exceeds the $725M limit. But due to CVOID, if CP claims that deferring payments is part of ordinary course, that is an excuse. It doesn't matter if there isn't any specific covenant for the deferred payments in the agreement. The fact is those deferred payments will add to the debt and by adding that, debt amount exceeds $725M.

If the ruling is to be done by legal terms then legally they strayed out of the ordinary course and exceeded the debt limit.

Mark is accussing a KPMG Professional that is he is wrong when the KPMG guy who has so many professional qualifications.

Basically both Julie and Mark are both trying to defend that it is OK to defer the payments and KPMG guy clearly says any such deferred payments will still be part of the debt! So that means if we include CP's deferrred payments then clearly breached the debt limit! No point how many ways CP defend that, they have breached the deal conditions!

I'm loving the way Cohen is responding back to the questions. I'm just surprised that the Judge is just allowing the CP lawyer to continue asking same questions again and again. Our lawyer should object as well but because Cohen is handling so well, there is no need for us to interfere. All that questioning is just pure speculation on CP side, there is nothing to prove.

Spot on G-Money1!

The court case is not any fraud or any other malicious things. It was logged by Cineplex who claims they incurred loss because we did not acquire them! It is totally laughable for logging a case like that! They are just desparate for money and are trying to get something out of the case.

Have you heard of a company logging a court case because they were not acquired? There was one and it was judged in favour of the acquirer like CINE! So many acquisitions and deals fell off but are they all going to court because they are not acquired? It is total ****.

Excellent post Mountainous.

When many companies with no revenue last year had to do rights issue but Mooky did a great job to sail CINE through the covid without one! It is pure scaremongering talking about one. We heard from Mooky about US listing and that listing is for paying off debt so Mooky already thought of options on how to reduce the debt.

It is expected that cinemas will be getting back to 80-90% of 2019 levels from next year. Cine made revenue of $4,370m in 2019!!! It will be more when we get back to normal trading conditions due to the increased prices.

One of our next big catalyst is the outcome of the court case. We are also going to see big box office revenue for October and big movies to come in November that has big long weekend - ThanksGiving.

Market did not ignore the Bond potential so we saw the rise to 84p likewise cannot ignore the big box office revenue for October and for the coming months. September month gross was $366,956,906 in US and now we are still not past half way in October and revenue is already $268M so you can see the consistent increase in revenue and for the demand for cinemas.

PMO was being shorted to death by a fund and they were fined by FCA but it was a paltry fine, which didn't help PMO SHs as they had done the damage and was taken over by HBR. I'm still invested in HBR although small amount and waiting to get out of it to add here.

Emailing FCA is all useless. Only Cohen/Mooky's can do something. If you see the court session, there were several emails from investors screaming last year about price going down. CINE BOD watches the SP and so are the all big funds that are both long and short. One big investor called Barclays ****ers as they said to Mooky that they were not selling but behind his back sold last year when covid started. JPM and BoA were the other buggers that sold last year.

Good thing is that we have Polaris recently increased the stake. I'm expecting more institutions to join once we clear the court case.