Welcome to Flightinfo.com

  • Register now and join the discussion
  • Friendliest aviation Ccmmunity on the web
  • Modern site for PC's, Phones, Tablets - no 3rd party apps required
  • Ask questions, help others, promote aviation
  • Share the passion for aviation
  • Invite everyone to Flightinfo.com and let's have fun

Mesa Cnx Note Holders Agreement

Welcome to Flightinfo.com

  • Register now and join the discussion
  • Modern secure site, no 3rd party apps required
  • Invite your friends
  • Share the passion of aviation
  • Friendliest aviation community on the web
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......
 
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.
 
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).
 
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.
 
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.
 

Latest resources

Back
Top