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Posts by asdasd

Seems like it. Which is odd since they have months to pay it back.To me they entered into this "oppressive" contract with bad intentions. The intention being to declare bankruptcy rather than meet terms. Chapter 11 can't be used to protect yourself indefinitely from your main creditor can it?
The MDSA loan was non interest baring and no doubt Apple might have renegotiated the first payment due date if GT hasn't played silly buggers.
Ok here is the opening paragraph from the 10-Q. It's fairly honest. Since the Company's subsidiary, GTAT Corp. entered into the Master Development and Supply Agreement (“MDSA”), facility lease and related agreements with Apple Inc., on October 31, 2013, the Company has expended significant capital resources in order to fund the establishment of its sapphire growth and fabrication facility in Mesa, Arizona ("the facility"). During the three and six months ended June 28,...
As sog said there should have been a warning between August and now. Furthermore it was probably likely in august that they weren't getting this contract. The whole thing stinks.
Here's the 10-Q.http://investor.gtat.com/secfiling.cfm?filingID=1445305-14-3496&CIK=1394954It should warn about loss of revenue from Apple. I have not read it but I will.Using chapter 11 seems really unusual if you had a large bank balance. It shouldn't be used to get out if contracts but to stop predator creditors exploiting a cash flow problem. I doubt if Apple were calling in debts, it looks like they were just withholding money.
You must be right. It's a legal duty to produce accurate results and forecasts. Which they manifestly did not do. Both the CEO and the CFO should be investigated by the SEC and Justice.
It does seem like a political play. Apple didn't pay the last instalment and didn't use sapphire in its iPhones so they throw a hissy fit? Which creditors are they protecting themselves from? Apples cash was payment for equity and ownership of machinery. What other loans have they and how can you throw $400M away in a year. This place seems to have crazy management. If I were apple I would write it off. Get back in touch with the Gorrilla glass guys.
No. No TV. Refreshes only.
Well the 500M is exaggerated. That includes people who signed up for iTunes years ago and haven't touched a Apple product since.My guess is 10% of active users downloaded it.
You guys are crazy. It's a small event at HQ. nothing big. No new products but refreshes.
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