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BRS stock crashing

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BRS stock crashing

Old 7th Mar 2019, 16:26
  #181 (permalink)  
 
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Don't get involved guys this thing is going to zero. There is simply no reason to buy or for anyone to buy it. The business Bristow are engaged in require no brand, there is clearly no goodwill left in the enterprise and who wants to step in to take on the debt, legacy contracts and any human resource liabilities?

The equity price merely reflects a claim on all future cash flows. At the moment BRS has a market cap of a couple of reasonably spec'd helicopters proving the market effectively thinks this thing is dead.
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Old 7th Mar 2019, 17:59
  #182 (permalink)  
 
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I see that BRS has desended below $1 today. Is that not a trigger point to delist or head to a new exchange ?
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Old 7th Mar 2019, 21:45
  #183 (permalink)  
 
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I heard today that Eastern has been sold (or given?!!!) back to the original owners?

Might be nonsense.
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Old 7th Mar 2019, 22:05
  #184 (permalink)  
 
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Originally Posted by SICKorSKI View Post
I see that BRS has desended below $1 today. Is that not a trigger point to delist or head to a new exchange ?
Doesn't it have to be below $1 for 30 days to be de-listed? That's what I thought, could very easily be wrong on that though.
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Old 8th Mar 2019, 16:52
  #185 (permalink)  
 
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Deficiency notice
If a company is in violation of the continued listing standards for a period of 30 consecutive days, the NASDAQ sends a "deficiency notice." The most common reasons for a deficiency notice are a share price that falls below $1.00 or a market cap that falls below the stated minimum (as low as $5 million if other requirements are satisfied).Once a deficiency notice has been sent, the company has 90 days to comply with the continued listing standards, or 180 days if the violation was for a sub-$1.00 share price. In order to be compliant, the company's share price or market cap must rise above the minimum for at least 10 consecutive days in the 90-day (or 180-day) period.
If the company fails to comply
If the conditions that triggered the deficiency notice are not met in time, the NASDAQ will then send the company a delisting letter, which must be disclosed to the public within four business days.There is an appeal procedure that a company can use, if it feels that it doesn't deserve to be delisted or if it can regain compliance in a reasonable amount of time. Once the company receives the delisting letter, it has seven days to request a hearing with the NASDAQ listing qualification panel to present its case, which postpones the delisting process until the panel makes a decision.Unless an appeal is filed, the company's stock is halted, and then delisted after seven days. If the appeal is rejected, the company also has the option to appeal to the SEC or in federal court. The NASDAQ gives the company an additional 15 days to do so, but begins its final delisting procedures during that time.
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Old 12th Mar 2019, 18:15
  #186 (permalink)  

Nigerian In Law
 
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I heard the price sank below $1 ? Things are pretty grim. Sad to see a once great company sink to such depths.

NEO

Last edited by Nigerian Expat Outlaw; 12th Mar 2019 at 18:15. Reason: Is it sank or sunk ?
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Old 13th Mar 2019, 02:44
  #187 (permalink)  
 
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NEO,

You’re correct, it’s sank, the past tense. Sunk is an adjective or a past participle.

i thoroughly agree that it’s very sad to see a once-great company fall so far. It seems to happen to so many companies when bean counters with no experience of anything but balance sheets or making up all sorts of acronyms like EBITDA are allowed unfettered control and all must bow down before their financial altar. Accountants should stick to auditing businesses, not running them. And don’t even get me started on the proliferation of human remains ‘professionals’ in companies.

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Old 13th Mar 2019, 13:41
  #188 (permalink)  
 
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What's the score these days with the UK company ? It always had a majority ownership by EU companies/nationals for AOC purposes although BRS called the business shots. Back in the day it was Caledonia Investments and a patsy individual who voted with the US to give effective control over there. IIRC, Caledonia took a reciprocal large minority ownership in BRS when it listed on the NYSE. Not sure what the current shareholdings are.

Given the large slice of overall BRS revenues flowing through there and a substantial HM Government contract I presume there would be a sale of BHL group as a Going Concern to UK based investors ?
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Old 13th Mar 2019, 15:33
  #189 (permalink)  
 
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If I remember, the Bristow UK Company is Bristow Aviation Holdings. Caledonia sold most of its shares in 2017 for a loss (about $12 per share). A quick check shows Caledonia has about 1.4m shares left so it only has about $1.5m of value in BRS which is rocketing up to $1.06 as I am typing!
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Old 13th Mar 2019, 16:41
  #190 (permalink)  
RMK
 
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Originally Posted by Phone Wind View Post
making up all sorts of acronyms like EBITDA
The “E” in EBITDA stands for Earnings. Regardless of how great it was to have a beer with Alan Bristow in years past, please tell us more about how earnings don’t matter to a business.

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Old 14th Mar 2019, 01:42
  #191 (permalink)  
 
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RMK,

Back in the good old days of having a beer with Alan Bristow, profit was what counted, not earnings and yes, I’m well aware of what the E in EBITDA stands for, having been sent on courses by the bean counters to be able to decipher their TLAs and FLAs. However, I also learned that it is a very poor and misleading mechanism if it is used to get an idea of the cash flow of a public company because:

1. It excludes taxes and interest, which are real cash items and not at all optional—a company must obviously pay its taxes and loans.

2. On the other hand, it does not exclude all non-cash items, only depreciation and amortization. Among the non-cash items not adjusted for in EBITDA are bad-debt allowances, inventory write-downs, and the cost of stock options granted.

3. Unlike proper measures of cash flow, it ignores changes in working capital. Additional investments in working capital consume cash.

4. Finally, the main flaw of it is in the E (Earnings). If a public company has over- or under-reserved for warranty costs, restructuring expenses, or bad-debt allowances, its earnings will be skewed and its EBITDA misleading. If it has recognized revenue prematurely or disguised ordinary costs as capital investments, its numbers are suspect. If it has inflated revenue through round-trip asset trades, the E is of no informational value.

I’m just a poor old retired dinosaur, but my other half is involved in investigating fraudulent bean counters and when I mentioned this to her, she told me that a lot of failing businesses focus on highlighting EBITDA because it minimizes the impact of factors outside of their scope of control and focuses only on what can be controlled.



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Old 14th Mar 2019, 13:49
  #192 (permalink)  
 
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I agree with Phone Wind. What the hell happened to "I earn X, so I spend Y". 2 of the biggest helicopter operators in the world have trashed their finances during a time over the last 15 years when it was not difficult to make a profit. Granted the last few years have been hard but where did all that money go that was earned while the sun was shining?
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Old 14th Mar 2019, 13:57
  #193 (permalink)  
 
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Originally Posted by Phone Wind View Post

I’m just a poor old retired dinosaur, but my other half is involved in investigating fraudulent bean counters and when I mentioned this to her, she told me that a lot of failing businesses focus on highlighting EBITDA because it minimizes the impact of factors outside of their scope of control and focuses only on what can be controlled.
That's true and compounded with the fixation on ROCE. I remember being at Houston Towers budget planning sessions back in about 2004. It came in with BC and whoever his CFO was at the time (can't remember). I generally got on well with BC and had a lot of time for him but that was one that caused me some pain. The easiest way to get a high ROCE is to keep the CE down by leasing (then not recognised on Balance Sheets) or flogging on old 332L's & S61's rather than investing in new tech.

Ironically, by the time the rates supported the new tech that new strategy backfired by keeping more expensive assets on the B/S than our major competitor who took advantage at the downturn and EC225 groundings through Ch11 lease walk-aways.
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Old 28th Mar 2019, 14:14
  #194 (permalink)  
 
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Old 28th Mar 2019, 14:39
  #195 (permalink)  
 
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Someone is being a very naughty boy!



Shame there is no "Like" feature. here at Rotorheads!


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Old 28th Mar 2019, 15:31
  #196 (permalink)  
 
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Originally Posted by Non-Driver View Post
If there is a turnround to happen, you could make a killing at the current price.....

on the other hand....
150% return in 13 days for anyone brave/foolish enough
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Old 28th Mar 2019, 15:33
  #197 (permalink)  
 
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So the new CEO used to work at Enron - what could possibly go wrong.
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Old 3rd Apr 2019, 13:21
  #198 (permalink)  
 
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Originally Posted by DOUBLE BOGEY View Post
I agree with Phone Wind. What the hell happened to "I earn X, so I spend Y". 2 of the biggest helicopter operators in the world have trashed their finances during a time over the last 15 years when it was not difficult to make a profit. Granted the last few years have been hard but where did all that money go that was earned while the sun was shining?
We need a LIKE button on here!
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Old 3rd Apr 2019, 14:13
  #199 (permalink)  
 
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Originally Posted by DOUBLE BOGEY View Post
I agree with Phone Wind. What the hell happened to "I earn X, so I spend Y". 2 of the biggest helicopter operators in the world have trashed their finances during a time over the last 15 years when it was not difficult to make a profit. Granted the last few years have been hard but where did all that money go that was earned while the sun was shining?
The hugely expensive and opulent corporate office in Houston would certainly have accounted for a fair proportion of Bristow's revenue.
Senior management seem to think that Bristow was a multi billion $ international airline and spent accordingly.
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Old 16th Apr 2019, 07:44
  #200 (permalink)  
 
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I see the stock plunged again after trading finished yesterday to around 70 cents after the latest update on their filing.

Looks grim, legal firms appointed to assist ‘turnaround’ etc non payment of interest on unsecured bonds. Surely suppliers must be getting twitchy now?

Wonder how much of a battering it will take today?
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