Member Info for WolfofWarks

Hi Elvis - I guess that would depend on how much a sale achieves and how much of the debt it clears, the dilution then may possibly occur by giving the lenders a stake in what's left in order to satisfy the rest of the debt.

Although I was playing around with the idea that if a sale removed the lenders from the books and CW goes forward with the ROW business they could raise capital by issuing shares (the dilution) in order to start building up the company again by making strategic acquisitions in a more considered fashion than last time.

'I think the judge was wrong when he says it looks like the company/industry is in a state of flux that would have happened sooner or later with or without covid'

Cinema attendances have been on a two decade downtrend and there is now fierce competition from streaming, but also the home technology has come on leaps and bounds. Not to say that you can beat the experience but you can have a decent go at home now.

I think it's films in general that are not as loved, mainly due to the advent of the box set but also due to lack of originality on the part of the film producers. Are folk really getting excited in large about another Marvel film or Mission Impossible, etc, etc?

Avtar 2 was the first time I've been excited about going to the Cinema since The Force Awakens.

Apple ....

Spltting my sides here.

I'll entertain you Ian, what on earth would Apple want with 1000 cinemas?

From a financial standpoint they are one of the best run companies in the world.

Trust me you can’t

'All the signs are here to support this theory.'

Such as?

'Cruis - why would they not want it?'

Because they've thrown all their eggs into the streaming basket.

I'd love to have Disney's troubles ...

They've still got billions of FCF.

I did of course mean $2bn earlier not $200m.

The standard of journalism at times cracks me up. They've managed to miss off £200m of the debt.

£75m wont get them very far either although you would obviously expect any deal to be financed.

I'm not too sure it would be wise for them to buy CW anyway if they are now financial stable. I could understand making an other for certain strategic sites but surely they would be buying competing sites and would inevitably have to close a lot of them down.

Hi LTH

The link is at the bottom of the left hand side of the Kroll site - it's down for maintenance at the moment though.

It ends rather abruptly for some reason but it accompanies one of the audios as I believe it was presented to the court.

I started listening to the audio but it'a quite bad quality so gave up on it in the end.

What about the illegal $1bn loan?

What about that weekend when you said 'papers' where being signed and it was being announced the following Monday?

What about HSBC and Bank of Israel owning most of the debt, despite them not even being in the ad hoc group?

That's just off the top of my head, I'm sure there are more beauties with a bit of a dig.

'They do need to transfer any shares! The move the jurisdiction of company and then relist on another market! Dev is right uk in recent years has become very corrupt and the old freedoms have gone'

You cannot just move the jurisdiction of a company. You would need to create a new company and then the assets of the existing company would need transferring - which is never going to happen under sanctions.

'Wolf, I'm afraid the opposite is true. The Jan 4th presentation highlighted that revenues so far are well behind expectations, especially for November and December. Hopefully the increase we are seeing in the number of releases will help to reverse that.'

Just caught this presentation, not too sure how that managed to pass me by. It looks like they have managed the cash well during the slump although it also points to a lot of payment deferrals and instalment plans being put in place on pre petition balances so kicking into the long grass and building up more debt and liabilities on the balance sheet.

The best way is to put your eggs in enough baskets that you don’t have to worry if one goes pop or not.

Aye if only more actually did it.

The one thing I would give Ian in being wrong is he’s very consistent :)

It will be interesting to see revenues vs forecast in the next six months that’s for sure. If the DIP forecast was produced on a worse case scenario then it might well be that expectations are surpassed.

Cineworld are telling you this they have forecasted revenue out till the end of the C11.

They wont be able to transfer the shares from the UK Plc to a new entity while under sanctions.

Agree Stanley. I can see both scenarios. Don’t think it’s clear cut. While ROW is excluded from C11 it’s still one of the assets of the Plc and can still be sold.

The ROW was initially excluded due to the number of countries in the group and the cross border complexities involved in including them in the C11, but this could have also been an ideal cover if Mooky’s plan was to walk away with that part of the business.

If you look at the accounts EBITDaL is the best measure to look at the cash generated from the main operations.

Don’t forget to come up with a decent idea of a valuation in todays money they need to be pretty heavily discounted to take into account the current inflationary environment.