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Mesa Cnx Note Holders Agreement

Lampshade

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In response to a recent regulatory inquiry regarding such exchange agreements, the Company has advised each of the parties to these agreements of its intent to rescind the same...No assurances can be given that the Company will be able to enter into agreements with such holders on terms similar to the previously announced exchange agreements or at all,
Sounds like JO's got some splain' to do the Fed's and the Note holders.
 

Lampshade

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Dimensional Fund Advisors (DFA)LP filed doucments today that it hold over 5% of Mesa now. This may be a bad omen:

So committed is DFA to passive investing that it hangs stock certificates of bankrupt companies it has ended up owning on the wall of a trading floor break room. When reporters call about any of the 500 companies in which the firm shows up as a 5 percent or greater shareholder, Wellington pleads ignorance.


 

squall line

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so could this mean that there is an investor who will be footing the bill so now they can pay with cash???

no idea how would be crazy enough to do that, but i've seen worse....

sl
 

rickair7777

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so could this mean that there is an investor who will be footing the bill so now they can pay with cash???

no idea how would be crazy enough to do that, but i've seen worse....

sl

It could also mean that OJ ran afoul (again) of the SEC...there is a hint of that in the press release.
 

crj567

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Prediction:

I think this is the "big one" as Fred Sanford would say....

I think these guys are going "BK" as General Lee would term the situation PDQ. These "convertible notes" are a form of security in which the holder is compensated by means of future stock shares, as well as interest-in many cases.

The only reason I can think that Mesa would be cancelling these things is that they are about to hit "BK" and the notes will be unavailable for conversion due to the stock becoming worthless.

There could be an alternate explanation, but I can't think of anything which would make sense given the poor condition of Mesa's finances!

DIE MESA DIE!!!!!!!
 

squall line

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Prediction:

I think this is the "big one" as Fred Sanford would say....

I think these guys are going "BK" as General Lee would term the situation PDQ. These "convertible notes" are a form of security in which the holder is compensated by means of future stock shares, as well as interest-in many cases.

The only reason I can think that Mesa would be cancelling these things is that they are about to hit "BK" and the notes will be unavailable for conversion due to the stock becoming worthless.

There could be an alternate explanation, but I can't think of anything which would make sense given the poor condition of Mesa's finances!

DIE MESA DIE!!!!!!!

wow, please tell us how you really feel......
 

labbats

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The only reason I can think that Mesa would be cancelling these things is that they are about to hit "BK" and the notes will be unavailable for conversion due to the stock becoming worthless.

Stocks worth $0.08 don't become worthless. They are worthless.

Let's not forget that everyone has been predicting the demise of Mesa and Great Lakes for years and years. Yet they still fly. Until the last plane makes for the graveyard in Tucson I'd hesitate to call Mesa dead.
 

TapitLight

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A sample from the filing, looks like these accounting changes may produce a net profit instead of a net loss for the last quarter?

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state
the reasons why a reasonable estimate of the results cannot be made.


The Company anticipates reporting consolidated net income for the quarter ended December 31, 2008 compared to
a net loss of $4.2 million for the quarter ended December 31, 2007. However, the Company is awaiting further
clarity on the accounting impact of the termination of the agreements on the Senior Convertible Notes and
anticipates that it will be able to file the Quarterly Report within the time period prescribed in Rule 12b-25(b)(2)(ii).
 

labbats

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If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state
the reasons why a reasonable estimate of the results cannot be made.

Assuming thus, prudent thought would dictate a financial endeavor of equal or greater magnitude of the current unresolved financial crisis befalling middle America.
 

Wesb737fo

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wow, please tell us how you really feel......

I don't know man.....If you have worked there a while you might understand. I worked there.

I don't wish bad things on the pilots there, but I wouldn't shed any tears if the SEC (or anyone else for that matter) did the financial equivalent of a
" Samuel Jackson, Ezekial 25-17 Path of the righteous man" speech on JO and his cronies.
 
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