Did Mesa get the votes?

[OK Bud!]

Anyone know the status of JO's bid to issue 900,000,000 more shares of stock? The vote was today and I can't find any info.
Disclaimer: We all know Mesa sucks. I am looking for some actual news.

 

[Raoul Duke]

since there are no facts, lets guess. I bet it failed

 

[CX880]

"Working as hard as we had, we tend to relax," the 53-yr-old captain told NTSB investigators in a recently released factual report on the incident by the agency. "We had gotten back on schedule [after a 30min departure delay due to a flight attendant scheduling issue], it was comfortable in the cockpit, the pressure was behind us. The warm Hawaiian sun was blaring in as we went eastbound. I just kind of closed my eyes for a minute, enjoying the warm sunshine, and dozed off."

http://www.flightglobal.com/article...-pilot-napped-regularly-in-mesa-cockpits.html

 

[A-V-8]

www.mesahub.com

No news yet but come join us.

 

[Rominato]

Bueller?

Anyone?

Frankly I'm surprised we haven't heard anythign yet. If they got the approval, you'd think it would be announced right away. Maybe they didn't get it and are scrambling?

Who knows.

 

[zawillif]

I've been monitoring Yahoo finance news all day and haven't seen a thing. It's very surprising, you figure there would be a report either way. The stock has been down at times today but currently trading at yesterday's closing price of $.28.

 

[Jack Mehoff]

I vote to throw JO down the well

 

[Andy Neill]

Lynn, who fielded my Investor Relations question, said the additional shares measure passed and that a press release was issued this afternoon.

 

[Rominato]

So...

Lynn, who fielded my Investor Relations question, said the additional shares measure passed and that a press release was issued this afternoon.

So, who wants to lay out exactly what this means for Mesa? They issue hundreds of millions of new shares to raise cash to cover debts outstanding? Is that right? What happens to their share price with ths issuance of so much new stock? When does this take place? Does this mean that those bonds coming due at the end of the month are now not a concern?

 

[ePilot22]

Andy is correct....


MESA gets the votes







eP.

 

[Andy Neill]

There has been absolutely no activity after hours and the price remains at $0.28 per share. Mesa's Book Value per share is $5.27 including $1.75 in cash as of the most recent quarter. They are bleeding heavily.

Additional shares, especially 900 million, should dilute the book value significantly since there are fewer than 28 million shares held now. The book value would be just under $0.16 per share.

 

[Raoul Duke]

This gives them leverage against the bond holders to force them to negotiate or get worthless stock. Even if the stock is issued they can fix the share price problem with a reverse split.

 

[Rominato]

so...

This gives them leverage against the bond holders to force them to negotiate or get worthless stock. Even if the stock is issued they can fix the share price problem with a reverse split.

So, basically, based on what you're saying, is Mesa home free again? No more turbulent times on the foreseeable horizon?

 

[DoinTime]

So, basically, based on what you're saying, is Mesa home free again? No more turbulent times on the foreseeable horizon?

Home free with at least 4 more years of the worst pilot contract by far in the industry. Great job Mesa pilots!

Seeing is that nobody has covered it yet.....MESA SUCKS!!!

 

[ePilot22]

So does this mean MESA is going to pay the bondholders with these additional shares or the public is supposed to buy the shares and MESA will pay the debt with cash?

I'm having a hard time believing that they can sell these additional shares, but I could see a bondholder accepting the shares instead of cash i.e. something is better than nothing.

Can someone explain what these additional share mean and how it helps MESA's financial position.

Thanks.









eP.