Prgx no BK back to $1 dollar.
This is the n/r this am that caused the stir.
Any price targets? Is $1 a reasonable short term target?
Any technical adive would be much appreciated...price is sitting just under .60 right now.
Thanks very much,
julia
Hi Julia,
Prgx dropped from $3 to .24c in one month,it looks like a BK company for its debts and 3rd quarter big loss,and Connell made a buyout offer for $3.43 a share in october but was rejected .following the S&P 600 small cap index replacing sells and Connell sells ,Prgx down to
31c on Friday. With today's news , once Prgx obtained financing ,it survived and wo'nt be delisting for Nasdaq. Prgx way oversold and will be quickly back to $1 range, and with the company's restructuring plan ,and California Medicare contract. Prgx should be trading to $3 dollar range in 06. I was lucky in last week and cash out 80% profit this morning and adding more at dip.
Pls go to Stockconsultant com for tecnical analysis.
Good Luck.
cc1120
cc1120
Whoo....HOO....!!! I bought PRGX yesterday @ 0.55 cents because of that attractive big volume ...Volume almost the same yesterday & today... i just sold @ 0.80.. 45.45% profit ;) happy trading guys ;)
Prgx heading to $1 dollar level confirmed
Strong buy in the next 10 days, from Nov.28th 2005 to Dec.7th,2005
buyhigh.net recommend: strong buy
Good luck!
cc1120, I seen your message when you posted a question about it on the SIRI Thread.
Nice inquiry about it, nice pick Applaud you...... ;)
Nice going Terlisa jumping in there with a trade of your own. Applaud the trade! ;)
But I was so busy with urgent matters that I had to get taken care, I did not get to join in.
Nice move for this after if fell like it did.Outstanding volume and a very nice % move on the price. ;D This thing just may gain some more.
Support @... 0.32...0.53
Resistance @... $1.49...1.84...2.20
Recent CandleStick Analysis
Bullish
Nov-25-2005 Bullish Harami
Technicals
Record Volume.... ;D
Most Actives
Percentage Gainer... ;D
Last Price Quote is:
85.29%above 13-day EMA ...... ;)
-40.96%below 50-day EMA
RS Rating: 1
Fundamentals
Key Data:
Market Cap (M): $19.31
P/E Ratio: NA
PEG Ratio: -0.28
Next Earnings: 03/09/2006
Last Analyst Rating: Sector Outperform ..... ;)
Hi Setravis,
Thank you very much for your analysis on Prgx.
Good luck to all.
Prgx up 25% pre market $1.07 volume 1007571
Great holder.
Prgx 150% profit in 3days. ;D
swing trader should be exit this morning,take profit and buy back in a few days.
Good lock to all.
Quote from: Terlisa on November 29, 2005, 02:26:35 PM
Whoo....HOO....!!! I bought PRGX yesterday @ 0.55 cents because of that attractive big volume ...Volume almost the same yesterday & today... i just sold @ 0.80.. 45.45% profit ;) happy trading guys ;)
Hi Terlisa,
How did you monitor intraday volume and how do you measure what is attractive or not (e.g. 10% higher than the stock's average daily volume? etc).
Thanks in advance.
Prgx 8-K is out after hours
Show all filings for PRG SCHULTZ INTERNATIONAL INC | Request a Trial to NEW EDGAR Online Pro
Form 8-K for PRG SCHULTZ INTERNATIONAL INC
--------------------------------------------------------------------------------
30-Nov-2005
Entry into Material Agreement, Material Modifications, Financial St
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
In order to provide Blum Capital Partners, L.P. and its affiliates with the ability to increase their ownership of the registrant's outstanding 4 3/4% Convertible Subordinated Notes due 2006 without their violating the provisions of their Standstill Agreement with the registrant or becoming an "Acquiring Person" under the registrant's Shareholder Protection Rights Agreement, and as otherwise described below, on November 23, 2005, effective November 14, 2005, the registrant amended the Standstill Agreement, and on November 24, 2005, effective November 14, 2005, the registrant amended the Rights Agreement.
STANDSTILL AGREEMENT
1. The definition of "Voting Stock" contained in Section 1 of the Standstill Agreement has been amended to exclude the Convertible Notes.
2. The registrant's requirement to amend the Rights Plan contained in Section 2 of the Standstill Agreement has been revised to reflect the amendments described below as well as a previous amendment to the Rights Agreement providing that members of the ad hoc committee of the Convertible Noteholders would not be deemed to be Acquiring Persons under the Rights Agreement solely due to their membership on the committee. (See the registrant's Report on Form 8-K filed with the Securities and Exchange Commission on November 14, 2005).
3. The prohibitions on purchasing Voting Stock of the registrant contained in
Section 5 of the Standstill Agreement have been amended to exclude any shares acquired upon conversion of Convertible Notes.
4. The provisions of Section 7 of the Standstill Agreement, providing for suspension of the standstill provisions of Section 5, have been amended to add two new suspension events:
a. the public announcement by the registrant that it has accepted an offer from any party, other than one accepted and endorsed by the ad hoc committee of the holders of the registrant's Convertible Notes, for any business combination, sale or similar extraordinary transaction involving the registrant or all or substantially all of its assets; and
b. the filing by the registrant, or commencement against the registrant, of any petition for relief under Title 11 of the United States Code.
5. Section 8, regarding confidentiality, has been deleted. Blum Capital Partners, L.P. and its affiliates have agreed to be bound by the same confidentiality terms as all other members of the ad hoc committee.
RIGHTS AGREEMENT
Section 1.1 of the Rights Agreement has been revised to exclude any Convertible Notes (or shares acquired upon conversion thereof) acquired after the date of the amendment from the beneficial ownership of Blum Capital Partners, L.P. and its affiliates in determining whether or not they are an "Acquiring Person" under the Rights Agreement.
See Exhibits 4.1 and 99.1 hereto, the contents of which are incorporated by reference herein. The Rights Agent, Wachovia Bank, National Association, also serves as the Transfer Agent for the registrant's Common Stock. Blum Capital Partners, L.P. and certain of its affiliates are holders of the registrant's common stock and Convertible Notes, and they have the right to designate a member of the registrant's Board of Directors and to have an observer present at all Board meetings.
ITEM 3.03 MATERIAL MODIFICATION TO RIGHTS OF SECURITY HOLDERS.
Please see the disclosure set forth under Item 1.01, which is incorporated by reference into this Item 3.03.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements.
(b) Pro Forma Financial Information.
(c) Exhibits.
Exhibit Number Description
-------------- -----------
4.1 Fourth amendment to Shareholder Protection Rights
Agreement, dated as of November 14, 2005, between
Registrant and Rights Agent, entered into on
November 24, 2005.
99.1 Amended and Restated Standstill Agreement, dated
as of November 14, 2005, between Registrant and
Blum Capital Partners, L.P. and certain of its
affiliates, entered into on November 23, 2005.
Add PRGX to Portfolio Set Alert Email to a Friend
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for PRGX - All Recent SEC Filings
Congratulations to all you happy traders, cc1120 ,rurouni,Terlisa, gmarc66,
I applaud you all !! Nice trade, way to do it... ;) Get some !
High of the day $1.15, Low of the day 0.91, closed at the low of the day , traders must have taken profits.
Volume: 26,725,313 .... ;D
Avg Vol (3m): 2,225,650
Support @ 0.33...0.65
Resistance @ $1.48...1.84...2.20
MACD is Bearish
Stochastic is Bearish
Technicals
Record Volume
Most Actives
Last Price Quote is:
72.76%above 13-day EMA
-37.24%below 50-day EMA
RS Rating: 1
Fundamentals
Key Data:
Market Cap (M): $19.31
P/E Ratio: NA
PEG Ratio: -0.456
Next Earnings: 03/09/2006
Last Analyst Rating: Sector Outperform
Prgx in the next couple of days very bearish.
support at 72c first target to be back in,
support at 59c second target to be back in.
GLTA.
http://www.stockta.com/cgi-bin/analysis.pl?symb=PRGX&num1=1&cobrand=&mode=stock
Prgx news New Star Analyst Rankings for PRG-SCHULTZ INTL
http://finance.yahoo.com/q/sa?s=prgx
Prgx this morning trading between 77c to 89c , I think that's the base there.
79 to 80c is still cheap for Prgx now,next week a lot of action for Prgx
I think its time to be back in today.
Per the lender agreement effective 3 December, the Lender can begin buying the stock. Based on their later $4.50 options they are going to want to buy big time beginning next week. We'll see on Monday.
GLTA
http://www.knobias.com/clipreport
California medicare contract
http://biz.yahoo.com/e/051109/prgx10-q.html
Sorry, the 2 links re post again.
http://www.knobias.com/individual/public/news.htm?eid=3.1.a8384111f7f0d06cf9eab3dcf8dd81e03b63599eaa7913a40600d554daf59b3b
Audit Contract for State of California Medicare
On March 29, 2005, the Company announced that the Centers for Medicare & Medicaid Services (CMS), the federal agency that administers the Medicare program, has awarded the Company a contract to provide recovery audit services for the State of California's Medicare spending. California spends over $23 billion on Medicare disbursements annually. The three-year contract was effective on March 28, 2005. To fully address the range of payment recovery opportunities, the Company has sub-contracted with Concentra Preferred Systems, the nation's largest provider of specialized cost containment services for the healthcare industry, which will add its clinical experience to the Company's expertise in recovery audit services.
The contract was awarded as part of a pilot program by CMS to recover overpayments on behalf of taxpayers through the use of recovery auditing. The Company began to incur capital expenditures and employee compensation costs related to this contract in the first nine months of 2005. Such capital expenditures and employee compensation costs will continue to be incurred in advance of the first revenues to be earned from the contract. The Company believes this contract represents a large opportunity to solidify its presence in the growing healthcare recovery audit sector and will prove to be beneficial to future earnings.
Medicare is the second largest Federal benefit program and represents over $250 billion in annual benefit outlays. Combined with Medicaid, the two programs constitute the largest single purchaser of healthcare in the world and 33 cents of every dollar spent on healthcare in the United States. A provision in the Medicare Prescription Drug Improvement, and Modernization Act of 2003 (MMA, P.L. 108-173) required the Department of Health and Human Services (HHS) to conduct a demonstration project to evaluate the use of recovery audit contractors in identifying Medicare underpayments and overpayments and to recoup overpayments. The section allows HHS to pay the recovery audit contractors on a contingency basis.
Bought 10,000 @ .75. I think PRGX will make another run over 1.00 soon. Theres been a lot of volume, it has a lot of attention. cc1120 applaud for a good pick, looks like some of you made out pretty good on it.
31k @ .70 Prgx hopefully second run next week and this time she will stay above 1 dollar.
GLTA and have a nice weekend.
Prgx new 8-K
http://biz.yahoo.com/e/051202/prgx8-k.html
Prgx tecnical analysis, 12/02/2005
BULLISH Probability - Intermediate trend bullish, Unsustainable downtrend, may turn sideways.
Probability - 1 Day Price change extreme down, may pause/reverse
Probability - Extreme Oversold, odds definitely favor long trades.
Probability - Short term strong pullback, pullback may start to slow.
Confirmation - Extreme 3 day distribution, but when the stock is oversold this is considered bullish.
Confirmation - Extreme bearish 1 day moneyflow, on an strong-extreme pullback is considered bullish.
BEARISH Confirmation - Strong bearish 3 day chart pattern.
Confirmation - CONFIRMED breakdown below 0.74, no support in area just below.
SUMMARY 4 bullish probability indicators. 3,
2 bullish confirmation indicators. Very Mild Outperform, short term (1-6 wks)
---- 65%, Bullish
2 bearish confirmation indicators. 35%, Bearish
GLTA
Prgx should be doubled up another 100 % next week, because of this news:
(Sunday 12/04/2005) StarMine 11:40am
http://finance.yahoo.com/q/h?s=PRGX
GLTA
Quote from: cc1120 on December 04, 2005, 12:41:34 PM
Prgx should be doubled up another 100 % next week, because of this news:
(Sunday 12/04/2005) StarMine 11:40am
http://finance.yahoo.com/q/h?s=PRGX
GLTA
Low volume in the past 2 trading days i'll consider it a profit taking.. (always buy @ the pullback) ;) well, i guess we will it see tomorrow what PRGX can bring.. ;)
Terlisa
Here's some more from starmine
Stock Research Top Analysts for
Research Summary All Periods Earnings History Recommendations PRGX Commercial Services &...
PRGX: Prg-Shultz Intl Inc (Commercial Services & Supplies) Research Summary
Estimates Summary (FQ 12-05)
Consensus $ 0.03
SmartEstimate® $ 0.06
Predicted Surprise > +30.0%
Low : High $-0.01 : $0.06
Total Analysts 2
Expected Report Date 01-Mar-06
What are SmartEstimates?
Analyst Revisions Summary
30 day consensus change + 50.0%
0 out of 2 Estimates are New or Revised
Since Last 30 Days
There is no recent RevisionCluster for this security
What is a RevisionCluster?
Earnings Estimates Trends
Interpreting StarMine Charts
Recent Bold Estimates by 5-Star Analysts
There are no recent bold estimates for this security.
What is a Bold Estimate?
gives investors detailed, analyst-by-analyst estimates for stocks, alongside each analyst's track record.
See Sample Screen from StarMine Professional Learn more
Estimate Summary (All Periods)
This
Quarter Next
Quarter This
Year Next
Year
Surprise/Revision Predicted
Recent Bold Estimates by 5-Star Analysts
Recent Analyst Revisions
30 day Consensus Change + 50.0% - + 11.1% -33.3%
7 day Consensus Change 0.0% - 0.0% 0.0%
Earnings Growth
Last
5 Yrs
This Yr
Next Yr Next
5 Yrs This Yr
P/E This Yr
P/E/G F12M
P/E F12M
P/E/G
SmartEstimate — NA NA — NM NM 6.1 0.45
Consensus -9% NA NA 14% NM NM 12.3 0.90
Top Analysts — Earnings Accuracy
Analyst Broker Rating
Thompson, Thatcher CIBC World Markets Corp.
Swindle, Patrick Avondale Partners LLC
View full list
Prgx hopefully on Monday we could see it like this
http://www.candlestickchart.com/indicators/2126.html
With the SEC. Form:SC 13D, Received: 11/30/2005. Read (2.AMENDMENT TO RIGHTS PLAN) it allows the lenders to buy up to 5,784,675 share on the open market. The agreement will be signed in the next few days but no latter than 12/9/05. As of right now no insider is allowed to buy the stock. But because they gave the company the bridge loan the company is allowing them to buy up to 5,784,675 shares. The lender Blum and Associates already own 9,287,073 of common stock and Convertible Notes that equal 4,651,939 share of common stock and are part of the AD HOC COMMITTEE. The agreement also state the lenders cannot use this stock for a buyout of the company. When they start buying I believe this stock will go over TWO DOLLARS!
GLTA
Prgx up 20% in first 15mins after opening market. Go! Go!
GLTA
Prgx tecnical analysis 12/05/2005
http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=prgx#ttop
Blum buying shares today?
If so,this is a good indicator that there will be a PR within the next week or so that will suddenly gap PRGX straight past $1 again into the $1 - 2 range. I hope so.
http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=7083630&tid=prgx&sid=7083630&mid=9212
GLTA
Any guesses as to where this will bottom out?
I got in at .72 - probably a bit too early.
I'll watch tomorrow to see if it's worth selling now and buying back at a lower price.
???
12/05/2005
For PRGX, the charts and moving averages are all out of whack, It can only be speculation right now and the Pr coming out any time, I just hold my 31K @70, because CDRG covered at 66c twice , Friday and today. Friday and today's action are pretty smilar.I don't think Prgx will
drop any further but should be doubled up another 100% very soon.
GLTA
Adding 21K @.61 ,there is no reason Prgx drop lower than 60c .
waiting for PR coming out anytime.
GLTA
prgx getting lower,but volume drying up,
reaches 10MA,more buyers at the last hour.
Time to reload.
>:D
12/07/2005
I think Blum is still buying , look what they did on Friday,Mon,Tue and today
We will see a Pr tomorrow or Friday as soon as Blum fininish buying.
GLTA
On Friday
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=PRGX&range=0&mgp=20051202&i=3&hdate=20051202&x=8&y=9
On Monday
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=PRGX&mgp=20051205&i=3&hdate=20051205&x=11&y=15
On Tuesday
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=PRGX&mgp=20051206&i=3&hdate=20051206&x=14&y=8
Today
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=PRGX&mgp=20051206&i=3&hdate=20051206&x=14&y=8
Hello cc1120!
Can you tell me what the connection is between PRG and Blum?
And how is it possible that Blum knows when a PR will be released?
Thank you!
Jasssie
Hi Jassie, here is my answer for you.
With the SEC. Form:SC 13D, Received: 11/30/2005. Read (2.AMENDMENT TO RIGHTS PLAN) it allows the lenders to buy up to 5,784,675 share on the open market. The agreement will be signed in the next few days but no latter than 12/9/05. As of right now no insider is allowed to buy the stock. But because they gave the company the bridge loan the company is allowing them to buy up to 5,784,675 shares. The lender Blum and Associates already own 9,287,073 of common stock and Convertible Notes that equal 4,651,939 share of common stock and are part of the AD HOC COMMITTEE. The agreement also state the lenders cannot use this stock for a buyout of the company. I think Blum started buying on Monday already.
Please read this again
http://www.knobias.com/individual/public/news.htm?eid=3.1.a8384111f7f0d06cf9eab3dcf8dd81e03b63599eaa7913a40600d554daf59b3b
http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=7083630&tid=prgx&sid=7083630&mid=9212
Goodl luck!
high:0.66 low:0.59 high-low only $ 0.07 ???
volume2.91m
will decide where to go pretty soon
12/08/2005
Prgx closed @.62 today nice support .For four days, it didn't break .60. I think Prgx should turn around from here .Tomorrow is D-day for Prgx.
If someone is still looking for Prgx @.60 range ,it's already Gone With the Wind.Prgx head office is in Atlanta George.They must stay there running business for us. Please remember what she said:" After all, tomorrow is another day."
GLTA
http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=prgx#ttop
I guess if there's no bad or good news announced,it 'll go up tomorrow,but not a lot.
if good news,hehe...... ;)
12/09/2005
Nice accumulation this morning, Prgx news will be out anytime.
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=PRGX&range=0&mgp=0&i=3&hdate=&x=18&y=12
:-\
breaks 13MA
charts don't look good
If there's no good news coming out,the bag holders might lose patience
so next Mondsy gotta watch carefully
Why PRGX worth $3.43 a share?
Why Cannell's offer $3.43 a share rejected?
Please read the following:
http://today.reuters.com/stocks/ResearchReports.aspx?ticker=PRGX
GLTA
Anyone know how long NASDAQ takes to issue its delistment warnings? PRGX has closed under $1 for a month now. A great entry point would be after the panic selloff prompted by the delistment warning ... unless we get good news first >:D
12/10/2005
PRGX Q-10 they put a date of 12/13/05 as the 30 days, we will know what actions PRGX
would take on 12/12/05 or 12/13/05 and it must be good news for PRGX for sure.
This game is really excited , isn't it?
"On October 28, 2005, our common stock, listed on the Nasdaq National Market, closed below $1.00 per share for the first time. Should the closing bid price of our common stock continue to remain below $1.00 for 30 consecutive trading days (December 13, 2005), then we expect Nasdaq would initiate the delisting process. Such process provides for an 180-day period to cure the $1.00 minimum bid default. Our common stock would have to maintain a closing bid of at least $1.00 for 10 consecutive trading days during the 180-day period to cure such default."
GLTA
12/12/2005
Good news for PRGX ,obtained 2 more million loan total 10 million now.
More good news coming by 12/15/2005
http://biz.yahoo.com/e/051212/prgx8-k.html
12/12/2005 8:45 pst
PRGX up 25% in first 2 hours trading , great!
PRGX should be back to $1 dollar level and stay there within this week.
GLTA
12/12/2005 10:55 PST
PRGX the cheapest Nasdaq stock on CNBC again this morning.
72c is really cheap for PRGX now ,see u $1 dollar above this week.
GLTA
Bouncing off a 61.8% Fibonacci retracement.
Plus news out that cc1120 posted.
Got in on this dip @ 0.55
Applaud this pick again cc1120.... Great job you did...!!!
12/12/2005 13:30 PST
Congrats Setravis and those who bought PRGX @ dip 50s, 60s,and even 70s ! Very strong close today! PRGX should be gap up tomorrow and back to $1 dollar level and by Turkey Day 2006, we could see PRGX @ 5 dollars. PRGX is a really gold mine.
GLTA
PRGX 13 D 12/12/2005
http://edgar.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=4068053&Type=ORIG
12/12/2005 14:05 PST
PRGX new financing works, more good news coming ! >:D
GLTA
Whew, what a relief. I was sweating bullets this past week but now I'm happy I didn't bail.
cc1120 and setravis,
Thanks for the pick, update and info. In at $0.70.
Any idea how high PRGX could go up this time?
All comments kindly appreciated.
GLTA,
Gielda
12/12/2005 22:20 PST
Hi Gielda, Congratulations you are one of the Prgx lucky holder.
Today Prgx breakout @0.79 already. resistance above is 1.01 , 1.46, 1.83 ...
strong support @0.66 . I don't think Prgx can go back to .50s again this time
if there is pullback, because of today's news that the traders ,investors obtained more
confidence on Prgx and more good news will be out by 12/15/2005 when Prgx finicining
deal finalized. So I'll play it like this : stop loss @ 0.68 ,sell half position when it touch $1.0 again and let the profit run for the rest.
http://www.stockta.com/cgi-bin/analysis.pl?symb=PRGX&num1=1&cobrand=&mode=stock
Good luck !
12/13/2005 7:50 PST
I'm out @78 take profit 30% ;D ,will be back in later
GLTA
12/13/2005 8:05 PST
PRGX over bought. 85% bearish. check it out
http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=prgx#ttop
GLTA
cc1120,
Doesn't look like a lot chance to get it back
i'm still holding the bag
8)
Thanks cc,
I was out at $0.75 and then back in at $0.76 and $0.73.
IMHO we will retest the $0.8 .
GLTA,
Gielda
Quote from: cc1120 on December 13, 2005, 10:50:14 AM
12/13/2005 7:50 PST
I'm out @78 take profit 30% ;D ,will be back in later
GLTA
]
But you've been touting great news on December 15th!
Update:
New filing on PRGX's website today
http://phx.corporate-ir.net/phoenix.zhtml?c=85608&p=irol-sec
Thanks Khan,
What that about?I couldn't connect to it.
12/13/2005 13:10 PST
Last minute back in 32k @ 0.74 about 50% position and will add more if there is dip tomorrow.
Be patient, big news will be out by 12/15/2005
GLTA
12/13/2005 23:36 PST
SC 13D Filing by person(s) reporting owned shares of common stock in a public company >5%
http://www.investorshub.com/boards/quotes.asp?ticker=PRGX&qm_page=59192&qm_symbol=PRGX
12/14/2005 6:53 PST
Added 36k @ 68 , news will be out any minute now. See u @ $1.50 weekend
GLTA
We are beginning to move
Let's see
12/15/2005 11:10 PST
Nice accumulation this morning ! Great news be out any minute now !
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=PRGX&range=0&mgp=0&i=3&hdate=&x=17&y=12
GLTA
I,m back in with 15000 at $0.66.
Ok, let's wait for the NEWS. :)
GLTA,
Gielda
The Deadline is today - December 15, 2005
Thanks tollsname from yahoo MB.
13D forms updated ontime
by: tollsname
Long-Term Sentiment: Strong Buy 12/15/05 04:51 pm
Msg: 12166 of 12166
That is very very important indication that the bondholders and the company is very actively working on the $10 Mil loan.
Dear Mr. McCurry:
Reference is made to (i) the commitment letter, dated as of November 28, 2005 (the "COMMITMENT LETTER"), addressed to PRG-Schultz International, Inc. (the "PARENT") by each of Petrus Securities L.P. ("Petrus"), Parkcentral Global Hub Limited (together with Petrus, collectively, the "PETRUS ENTITIES"), Blum Strategic Partners II GmbH & Co. KG. ("BLUM") and Blum Strategic Partners II, L.P. (together with Blum, collectively, the "BLUM ENTITIES" and, together with the Petrus Entities, each a "LENDER" and collectively, the "LENDERS") and (ii) the Term Sheet (as defined in the Commitment Letter). Capitalized terms used herein shall have the meanings set forth in the Commitment Letter.
The Parent and the Lenders desire to amend the Commitment Letter and the Term Sheet to (i) extend the effectiveness of the Lenders' commitment until December 15, 2005 and (ii) increase the aggregate principal amount of the Financing Facility under the Commitment Letter from $8,000,000 to $10,000,000 (the "INCREASED FACILITY AMOUNT"), and the Lenders have agreed to extend the commitment period and increase the Financing Facility, upon, and subject to, the terms and conditions hereinafter set forth.
GLTA,
Gielda
Since the deadline is today, is there any chance the other news will ever come out tomorrow?
Quote from: peter333 on December 15, 2005, 06:14:40 PM
Since the deadline is today, is there any chance the other news will ever come out tomorrow?
I hope we'll get the GOOD news tomorrow or Monday. And I hope the market won't overreact to this notice, seeing how everyone should have seen this coming.
Quote from: peter333 on December 15, 2005, 06:14:40 PM
Since the deadline is today, is there any chance the other news will ever come out tomorrow?
The Delisting Notice by itself may scare some people ,but IMHO it should recover.
I'm not sure if they will have to post the news (new bridge loan or lack of it) tonight, but I believe this news should be out tonight or by tomorrow morning.
GLTA,
Gielda
12/15/2005 17:15 PST
Thanks for the update post, Folks.
Nothing to worry about this delisting notice. Folks, everybody knew it .
PRGX could be back to $1 level within a hour, if any good news released .
I believe the Bridge finanicing deal finalized already today.
This great news should be out in premarket tomorrow morning.
GLTA
12/16/2005 5:25 PST
8k is out, good news for PRGX. Just give them 2 more business days before PRGX complete
the Bridge financing deal.
Amendment to Extend Financing Commitment
On December 15, 2005 PRG-Schultz International, Inc. (the "Company") entered into an amendment to the financing commitment letter dated November 28, 2005 with Petrus Securities L.P. and Parkcentral Global Hub Limited (the "Petrus Entities") and Blum Strategic Partners II GmbH & Co. KG. and Blum Strategic Partners II, L.P. (the "Blum Entities") that extended the commitment to December 19, 2005.
The Blum Entities are beneficial owners of the Company's common stock and 4 3/4% Convertible Subordinated Notes due 2006 (the "Convertible Notes"), and they have the right to designate a member of the Company's Board of Directors and to have an observer present at all Board meetings. The Petrus Entities are beneficial owners of the Company's common stock and Convertible Notes. The Petrus entities and affiliated entities of the Blum Entities serve on the Ad Hoc Committee of holders of the Convertible Notes to consider strategic alternatives relating to the Company.
http://biz.yahoo.com/e/051216/prgx8-k.html
GLTA
Thanks cc,
Looking at the AH and pre market not much movement. The 8K helped to control the "panic".
What is your take on today's trading?
GLTY,
Gielda
*DJ PRG-Schultz Gets Extension For Financing To Dec. 19
12/16/2005
Dow Jones News Services
(Copyright © 2005 Dow Jones & Company, Inc.)
(MORE TO FOLLOW) Dow Jones Newswires
12-16-05 0640ET
Copyright (c) 2005 Dow Jones & Company, Inc.
DJ PRG-Schultz Gets Extension For Financing To Dec 19 >PRGX
- WASHINGTON (Dow Jones)--PRG-Schultz International Inc. (PRGX) said it entered into an amendment to its financing commitment letter with Petrus Securities L.P., Parkcentral Global Hub Ltd., Blum Strategic Partners II GmbH & Co. KG. and Blum Strategic Partners II L.P. that extends financing to Dec. 19 from Thursday.
According to a regulatory filing with the Securities and Exchange Commission Friday, the Atlanta-based provider of recovery audit services said the Blum entities are beneficial owners of PRG-Schultz International's common stock and 4.75% convertible subordinated notes due 2006.
Also, PRG-Schultz International said the Blum entities have the right to designate a member of the company's board and have an observer present at all board meetings.
The company said Petrus Securities and Parkcentral Global Hub are beneficial owners of PRG-Schultz's common stock and convertible notes.
PRG-Schultz said Petrus Securities, Parkcentral Global Hub and affiliated entities of the Blum entities serve on the ad hoc committee of holders of the company's convertible notes to consider strategic alternatives relating to PRG-Schultz International.
-By Gee L. Lee, Dow Jones Newswires; 202-862-1346
(END) Dow Jones Newswires
12-16-05 0734ET
Copyright (c) 2005 Dow Jones & Company, Inc.
MarketWatch
Copyright © 2005 MarketWatch, Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
News provided by Dow Jones NewswiresSM, PR News Wire™ and Business Wire™. Dow Jones Newswires is a service mark of Dow Jones & Company. PR News Wire is a Trademark of PR Newswire Association, Inc. Business Wire is a registered trademark and service mark of Business Wire.
GLTA,
Gielda
12/16/2005 6:20 PST
Morning qielda,
Thanks for your post, regarding today's movement of PRGX.
I think there is strong support @ 0.60 and from here we should going up to 0.70 or so
before any good news released.
GLTA
Thanks cc and GLT all PRGX investors. :)
Gielda
12/16/2005 7:45 PST
Folks,
Next Monday or Tuesday ,we'll get our early Christmas gift from PRGX.
Thanks Gielda and everyone who plays PRGX with me.
Have a nice weekend ! ;)
GLTA
Whats going on here had nice run pull back, ready to go again?
whats the christmas gift?
12/20/2005 6:05 PST
8K is out, good news for PRGX
PRGX Bridge Financing extended to tomorrow 12/21/2005
http://biz.yahoo.com/e/051220/prgx8-k.html
GLTA
Hi cc,
Another extension and only until tommorrow? There could be bigger things on their plate. Buyout by Blum?
Any comments?
GLTY,
Gielda
12/20/2005 7:20 PST
Buyout? could be. Connell offered @3.43 rejected and with California Medicare Contract
updated news today, Prgx worth more than $3.43. I hope they could make the buyout
deal and let us have some easy money for Christmas.
GLTA
cc,
with current price of $0.59, should I load more? Thanks.
Quote from: peter333 on December 20, 2005, 11:55:05 AM
cc,
with current price of $0.59, should I load more? Thanks.
Hi peter,
I'm still in (15000 shares at $0.66). I will hold to find out the new financing. I hope for the upside, but it is a stock market. You have to look at the Risk/Reward ratio and then decide.
GLTY,
Gielda
Sorry peter,
I did't notice that it was addressed to cc. ;)
GLTY,
Gielda
It is ok. Thanks for your reply.
???
Hi,cc
It IS good news for PRGX,but the market reaction is negative......break out 0.60....
probably we gotta pull out first?
12/20/2005 11:03 PST
Hi Peter,
All I can say at this moment is Prgx @0.59, risk is lower than I got it @0.74 and 0.68.
Anyway I 'm very optimistic and confident for Prgx since I played it in early November 2005.
Good luck!
12/20/2005 11:20 PST
Hi Brucey,
News are good for Prgx this morning, but most important for Prgx now is financing loan or
possble Buyout deal could be made, that's the news we are waiting for.
Regarding the market performance today , I think Prgx still @support 0.60 + - 0.03
Be patient!
GLTA
Quote from: cc1120 on December 20, 2005, 02:21:58 PM
12/20/2005 11:20 PST
Hi Brucey,
News are good for Prgx this morning, but most important for Prgx now is financing loan or
possble Buyout deal could be made, that's the news we are waiting for.
Regarding the market performance today , I think Prgx still @support 0.60 + - 0.03
Be patient!
GLTA
i got lucky, i got out into this with 40% profit ;D
12/20/2005 11:56 PST
Hi Tellisa,
It' good for you 40% profit from Prgx, but I think we could gain more from Prgx in the
next couple of days.
GLTA
I couldn't help it. I just added 8000 at $0.59 :) :) :).
I don't know what's wrong with me. ;)
GLTA,
Gielda
12/20/2005 12:55 PST
Hi Gielda,
Don't worry, body.
We'll be back to winning track !
GLTA
Hi,cc
Finally closed @0.60,so I'll keep my position.
Will see tomorrow.
12/20/2005 13:22 PST
Good luck to you Brucey and all Prgx bagholders !
cc.
PRGX.....Is breaking out. Could we finally be getting the good news? :)
Hope so :)
It's been accumulating at $0.59-0.60 for a few days already.
GLTA,
Gielda
12/21/2005 11:26 PST
It's a very good sign for Prgx now, I believe the great news will be out very soon.
GLTA
News. The one we are waiting for is still to come!
Form 8-K for PRG SCHULTZ INTERNATIONAL INC
21-Dec-2005
Entry into Material Agreement, Change in Directors or Principal Off
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On December 15, 2005, the Compensation Committee of the Board of Directors of PRG-Schultz International, Inc. (the "Company") authorized the immediate vesting of all outstanding unvested time vesting options that have option prices that are out of the money as of such date (the "underwater" stock options). This action accelerated the vesting of 2,355,116 options of the 10,861,918 options outstanding as of November 30, 2005. The accelerated options have option prices that range from $3.16 per share to $17.25 per share and a weighted average option price per share of $4.97. The optionees whose options were accelerated included (among others) the non-executive Chairman of the Board, David Cole (150,000 options) and the following executive officers: James McCurry (500,000 options), James Moylan (375,000 options) and James Benjamin (75,000 options).
The Board's decision to accelerate the vesting of these "underwater" stock options was made primarily to avoid recognizing compensation expense associated with these stock options in future financial statements upon the Company's adoption of Statement of SFAS No. 123R, "Share Based Payment."
There are no previously unreported material relationships with any of the foregoing executive officers or directors of the Company.
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
On December 20, 2005, the Company's principal accounting officer, Michael D. Picchi, resigned effective February 3, 2006 as Senior Vice President - Finance and Corporate Controller to accept a senior finance position with another company.
http://biz.yahoo.com/e/051221/prgx8-k.html
GLTA,
Gielda
Once again, not the news we are looking forward to.
AM news about the loan, please?
12/21/2005 18:18 PST
All right, folks !
All Prgx bagholders should get up early tomorrow morning,and line up @ 5:00 am PST or
8:00 am EST.watch Prgx running up again @ pre-market.
I believe the deal is done today, no more extension this time and some people knew it already ,so they started buying this afternoon.
See u @ pre-market tomorrow morning.
GLTA
cc.
Crossed your finger... if this thing goes up (smile) :)
If price goes down (forget the stock) goodluck!!! ;)
By the way, CC120 are you one of bagholders of PRGX?
cc,
I believe you are right. Looking at today's action, heavy accumulation at $0.59 to $0.60, and the EOD rally to $0.71 show a glimse of a great things to come.
Hopefully, tomorrow morning we will get THE NEWS, and hope it's a GOOD ONE ;)
GLTA,
Gielda PRGX bagholder.
12/21/2005 20:08 PST
Hi Tellisa,
Thanks for the charts you post, it looks really good.
you asked me if I 'm one of the Prgx bagholders?
You'd better read my post.
All I can tell you now is :
Prgx is my first pick in 3 stocks on fire and the day when I received the 3 stocks on fire T-shirt
on November 30,2005 I made 150% profit from Prgx already. I bought it before Turkey Day
and sold it @1.11 ;D
I believe we could gain more from Prgx in the next couple of days.
GLTA PRGXBAGHOLDERS
12/21/2005 20:16 PST
Hi Gielda,
I believe we are on the winning track already !
See u @ pre-market tomorrow.
GLTY
cc
12/22/2005 5:52 PST
Morning all,
Watching Prgx flying again today!
PRGX BAGHOLDER
cc
Still no news, how do you guys think?
12/22/2005 6:10 PST
Be patient!
GLTA
The loan bridge extension expired yesterday. They have to issue a PR what's next.
Still hoping and waiting. Waiting patiently....
GLTA,
Gielda
Another extension to Dec. 23, 2005.
GLTA,
Gielda
12/22/2005 6:20 PST
We got the news , extended to 23rd.
http://phx.corporate-ir.net/phoenix.zhtml?c=85608&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9Mzg1MjAyNCZkb2M9MCZhdHRhY2g9b24=
GLTA
12/22/2005 7:30 PST
Watch Prgx flying again!
GLTA
I wonder how high it is going today? :) :) :)
GLTA,
Gielda
12/22/2005 7:48 PST
Gielda,
It's very good action for Prgx this morning, its just beginning, to gain 20% to 30 % from Prgx is nothing to us. The first resistant will be @1.19 and after that is the sky high.
GLTA PRGXBAGHOLDERS
Thanks cc,
Holding strong! :)
GLTY,
Gielda
12/22/2005 8:28 PST
Gielda,
One more thing I remind you is :
Prgx is not a pink with 2 employees running business out of a garage, right?
GLTA
cc
It would make a great Christmas present to have PRGX bought out by Blum. ;)
Let's enjoy and wait.
GLTA,
Gielda
12/22/2005 21:25 PST
Charts looks good and candle stick confirmed BUY.
http://www.stockta.com/cgi-bin/analysis.pl?symb=PRGX&num1=1&cobrand=&mode=stock
http://americanbulls.com/StockPage.asp?CompanyTicker=PRGX&MarketTicker=NASD&TYP=S
GLTA
12/23/2005 8:38 PST
Folks,
I don't think we can get any PR before Xmas. The market will be closed on Monday.
Hopefully Prgx could take off on Tuesday morning just like what it did after Turkey Day.
Prgx movement not bad this morning,even if there is some sell off by day traders and some profit takers this Friday afternoon. I think Prgx got strong support @0.66 to 0.70.
Be patient,the information for Prgx out there says to me HOLD and RIDE.
Happy holidays everyone and Good luck to all Prgx bagholders!
cc
Hi cc,
I still have 10 000 shares of PRGX. :)
I sold the rest (13 000) :( and I will reload at ~$0.66 or when it will start to move to the upside.
This morning we were not able to take the yesterday's high, thats the reason for my actions.
Waiting for the news.
GLTA,
Gielda
:D
Merry Xmas ,everybody!
brucey
Merry Christmas to all PRGX bagholders!
See you all Tuesday, unless there is a News before... ;).
GLTA,
Gielda PRGX bagholder
12/27/2005 5:58 PST
Great news ! WE got it finally
http://biz.yahoo.com/bw/051227/20051227005102.html?.v=1
GLTA
12/27/2005 5:05 PST
HAPPY HOLIDAYS TO ALL PRGX BAGHOLDERS !
PRGX SHOULD BE ONCNBC AGAIN PREMARKET!
CONGRATS ALL !
CC
12/27/2005 5:10 PST
PRGX up 15% in 10mins trading premarket !
cc
cc,
Happy holiday.
This is great news.
What should be the target?
12/27/2005 5:18 PST
Morning Peter, Congrats to you!
My first target will be @1.19 after that will be much high, How high ? $2.00 +
GLTA
12/27/2005 5:30 PST
Prgx up 31% vol 289K in 30mins trading premarket and on CNBC again !
Enjoy the ride !
cc
Active in the pre-market....Very nice to see this, this morning....enjoy !! ;D
PRG-SCHULTZ INTL (NasdaqNM:PRGX) Delayed quote data
Pre-Market (RT-ECN): 0.87 0.15 (20.83%)....Volume @........471,199
Last Trade: 0.72
Trade Time: Dec 23
Change: 0.00 (0.00%)
Prev Close: 0.72
Open: N/A
Bid: 0.89 x 400
Ask: 0.89 x 3700
1y Target Est: 3.50
Day's Range: N/A - N/A
52wk Range: 0.24 - 5.79
Volume: 418,219
Avg Vol (3m): 4,118,180
Market Cap: 48.93M
P/E (ttm): N/A
EPS (ttm): -1.72
Div & Yield: N/A (N/A)
12/27/2005 6:15 PST
Where is Gielda? Congrats to you , Buddy!
cc
I just opened the computer - Holidays, eh!
It's a great news!
Congrats to all who held :) :) :).
Gielda
12/27/2005 7:40 PST
One more good news for Prgx just hit the wire. HOLD and RIDE!
http://biz.yahoo.com/ap/051227/prg_schultz_restructuring.html?.v=1
GLTA
cc
Good job to those who made profit on the gap up today.
I am still holding but am obviously disappointed with the action thus far.
This one has been on the naked short list for a bit. I am sure they drove this down after premarket with a vengance. It would be nice if a high volume of increasing bids would get them to cover ;) (Cough)
Looks like today's news is not that good. Now the stock price is going red. I not quite understand it. Will somebody explain its behavior, and predict that of days beyond? Thanks.
Well I would say it is in the hands of the bears now. Once it started to dip from profit taking the shorts started flowing.
12/27/2005 12:45 PST
Many people selling @ news and its over bought. Prgx support @0.70 and 0.63.
http://biz.yahoo.com/ap/051227/prg_schultz_restructuring.html?.v=1
Maybe I' ll be out today. Its hard to play with day traders and MM.
GLTA
Whoa walked away and took a hit. I weasled out @ about 3:59:99. Maybe I will be back!
Good luck to holders
I'm out with the rest of the profit takers 29% profits , and away from the manipulators.... ;D
Buy on rumor sell on news - still true!
Looking at all the profit taking this morning, I sold @ $0.85 :).
But, I bought back $0.68 at EOD. I'll take my chances and wait for tomorrow.
Hope for some $$$. ;)
GLTA,
Gielda
Applaud all those who took profits...happy new year!!!
Quote from: Terlisa on December 27, 2005, 06:41:00 PM
Applaud all those who took profits...happy new year!!!
Thank you Terlisa.
Is still anybody else in PRGX?
GLTA,
Gielda
From StockTA.com:
http://www.stockta.com/cgi-bin/analysis.pl?symb=PRGX&num1=3&cobrand=&mode=stock
Support/Resistance
Type Value Conf.
resist. 3.45 2
resist. 3.28 8
resist. 2.95 8
resist. 2.77 2
resist. 1.83 2
resist. 1.46 2
resist. 1.03 3
supp 0.67 12
supp 0.32 8
Chart Indicators
Ind. short Inter Long
EMA VBu Be VBe
MACD VBu Be N
RSI Be
TDD Bu
Fibs Be VBe VBe
Highs VBe N N
Lows VBu Be VBu
Trends Bu Bu N
Stoch. N
VBu=Very Bullish, Bu=Bullish
N=Neutral
Be=Bearish, VBe=Very Bearish
GLTA,
Gielda
12/27/2005 20:18 PST
All right, Folks !
Congrats all Prgx profit takers and good luck all Prgx holders !( Long term play Prgx still good.)
I'm done with Prgx today and won't touch it again for a while.
I 've made 195% profit from Prgx since I bought it before Turkey Day, and I was 100%
invested in it, because I read most of information about this company and finally made a
decision Prgx would not BK and there's no sign for BK. The decision I made to buy Prgx was on November 16th,2005. That's the beauty of Prgx. I bought it @ BK price but the company won't be BK !(Even if the company BK, the stock still worth 0.30s min.)
Prgx is my first pick in 3 stocks on fire and I'm very lucky and very happy to be successful.
Profit report : earings from Prgx by 12/27/2005 (market closed.)
( from Nov.28th, 2005 to Nov.30th 2005 ...... 150% profit )
( from Dec. 1st 2005 to Dec. 27th, 2005 ....... 45% profit )
Thanks all the folks who played this stock with me, and good luck to all !
Prgx's head office is in Atlanta Georgia, USA. that's the home of Gone With The Wind. I still remember what she said: "After all, tomorrow is another day."
I'll be going on in another direction.
Happy Holidays !
Happy New Year !
cc
>:D
Applaud,Cc
Thanks a lot !
Give us another good one,and tell us before u buy,hehe..
Good luck,and Happy New Year,folks!
Quote from: gielda2003 on December 27, 2005, 09:09:45 PM
Quote from: Terlisa on December 27, 2005, 06:41:00 PM
Applaud all those who took profits...happy new year!!!
Thank you Terlisa.
Is still anybody else in PRGX?
GLTA,
Gielda
Stupid me still holding the PRGX. I am new to the stock market. Always react a little slower than your guys. Don't really know when is the good time for profit-taking.
Great pick by the way CC! I played it twice in 6 trading days for a total of 25% gain. Greedy me would have been close to 60% in 6 days if I sold off at open. Oh well live and learn(although I am not learning that part all to well ;).
cc,
Thank you for a great pick. I applaud you for all the support. :) :) :)
I'm still in. But just looking for a few buks on the open ;).
Looking forward to play with you in the near future.
Thanks again and GLTA,
Gielda
Out @ $0.7
GLTA,
Gielda
Bought 20k @ .61, looks like it may have found it's bottom for now. Any opinions, anyone still in? Good luck and have the happiest new year. ;D
12/30/2005 11:18 PST
Prgx's situation now is too much unknow things for shareholders and I found this guy's opinion
is very important and worth reading.
http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=7083630&tid=prgx&sid=7083630&mid=15063
I wouldn't touch Prgx again until middle of Jan. I think.
Today I found out ARTX ready to play for the coming new year, and heay accumulatied by
institutions today.
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=ARTX&range=0&mgp=0&i=3&hdate=&x=14&y=19
GLTA and Happy New Year !
cc
01/05/2006 9:58 PST
Prgx ready to play, it's bottomed back in 40k @0.58
GL
cc
01/05/2006 10:00 PST
Nice accumulation !
http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=PRGX&range=7&mgp=0&i=3&hdate=&x=7&y=18
cc
01/05/2006 11:39 PST
Charts bullish , target 1 @0.73
http://www.stockconsultant.com/consultnow/basicplus.cgi?ID=sample&symbol=PRGX&62710#ttop
GL
cc
I'm still holding, looks like it's formed a nice base.
01/06/2006 11:00 PST
Prgx start moveing to the target 1 @ 0.72 resistance @ 0.65
GL
cc
01/07/2006 10:05 PST
Prgx confirmed BUY!
http://americanbulls.com/StockPage.asp?CompanyTicker=PRGX&MarketTicker=NASD&TYP=S
GL
cc
01/09/2006 11:28 PST
Prgx chart looks bearish. I'm out @ 0.64, 10% gain .
http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=prgx#ttop
GL
PRGX is up 30% in after hours trading due to this:
http://biz.yahoo.com/bw/060201/20060201006207.html?.v=1
Keep it on your radar tomorrow morning. ;)
QuotePRG-Schultz International, Inc. Announces Commencement of Exchange Offer for $125 Million Convertible Notes
Wednesday February 1, 6:05 pm ET
Company Also Secures Commitment for $45 Million of New Financing Subject to Successful Completion of the Exchange Offer
ATLANTA--(BUSINESS WIRE)--Feb. 1, 2006--PRG-Schultz International, Inc. (Nasdaq: PRGX - News) announced today that it has commenced an exchange offer for its outstanding 4.75% Convertible Subordinated Notes due 2006 in conjunction with the company's previously announced comprehensive financial restructuring of its capital structure. The company is offering to exchange the $125 million of Convertible Notes for approximately $125 million of new securities consisting of $50 million of new 11% senior notes due 2011 (together with an additional principal amount equal to accrued and unpaid interest on the Convertible Notes through the date of consummation of the exchange offer), $60 million of new 10% senior convertible notes due 2011, and new series A convertible participating preferred stock having an aggregate liquidation preference of $15 million. Holders of approximately 54.6% of the outstanding Convertible Notes have committed to tender their Convertible Notes in the exchange offer and to otherwise support the restructuring.
Under the terms of the exchange offer, the company will issue in exchange for each $1,000 in principal amount of Convertible Notes properly tendered and accepted for exchange (i) $400 principal amount of new 11% senior notes due 2011 (together with an additional principal amount equal to accrued and unpaid interest due on the tendered Convertible Notes to the closing date of the exchange offer), (ii) $480 principal amount of new 10% senior convertible notes due 2011 and (iii) one share, $120 liquidation preference, of the new series A convertible participating preferred. The new senior convertible notes and new series A convertible preferred stock will, under certain circumstances, be convertible into our common stock at the election of the holder.
The exchange offer will expire at 5:00 p.m., New York City time, on Thursday, March 2, 2006, unless extended by the company. The exchange offer is subject to a 99% minimum acceptance level of the Convertible Notes in the exchange offer, the refinancing of the company's existing senior secured credit facility and bridge loan, and certain other conditions. The company reserves the right to waive any condition, but it also has the right to terminate the exchange offer if any condition is not satisfied.
The company also announced that it has secured a financing commitment from Ableco Finance LLC to provide a new $45 million senior secured credit facility that will be used to refinance the company's existing senior secured credit facility and $10 bridge loan and to fund the company's general working capital needs. The new credit facility will consist of a $25 million term loan and a $20 million revolving credit facility, availability under which will be determined under an agreed borrowing base formula. Funding of the new credit facility is subject to a number of conditions, including the successful consummation of the exchange offer.
Immediately after completion of the restructuring, existing common shareholders will own approximately 54.1% of the equity of the company (without giving effect to conversion of the new senior convertible notes and the new management incentive plan to be implemented in connection with the restructuring). If all of the new senior convertible notes offered were converted into common stock following completion of the restructuring, existing common shareholders would own approximately 30% of the equity of the company (27% after dilution for the new management incentive plan, assuming that all of the shares reserved under the plan are granted and vested).
An offering circular and a related letter of transmittal are being distributed to holders of the Convertible Notes today in which the terms of the exchange offer are described in detail.
I don't know if this is going to hold, but the pre-market looks like this.
PRG-SCHULTZ INTL (NasdaqNM:PRGX) Delayed quote data
Pre-Market (RT-ECN): 0.65 0.1669 (34.55%)
This one looks like it wants to move with strong volume ..................
Nice breakout today with news of completing the refinancing:
(http://img462.imageshack.us/img462/984/sc5in.png)
QuotePRG-Schultz Completes Refinancing
Monday March 20, 10:02 am ET
PRG-Schultz Completes Refinancing With New Notes, Credit Facility
ATLANTA (AP) -- PRG-Schultz International Inc., a provider of recovery audit services, said Monday that it finished restructuring its debt to keep the company liquid while it turns itself around.
Shares of PRG-Schultz rose 8 cents, to 15 percent, to 61 cents in morning trading on the Nasdaq. Over the past year, shares have traded in a band of 24 cents to $5.15.
The company tendered $124.5 million, or 99.6 percent, of its 4.75 percent convertible subordinated notes due 2006, with $470,000 remaining outstanding. The company announced it would restructure its debt in December.
PRG-Schultz issued $51.6 million in 11 percent senior notes due 2011, $59.8 million in 10 percent senior convertible notes due 2011, and nearly 125,000 of 9 percent senior series A convertible participating preferred stock with a liquidation value of $14.9 million.
The company also secured a new credit facility with Ableco Finance and CIT/Group/Business Credit. The facility has a $25 million long term loan and up to $20 million in revolving loan borrowings. The company will use the facility to pay of about $1.6 million in borrowings from Bank of America, and $10.1 million in existing notes.
i bought some in pre market at .63 this usualy runs for a few days after news. i think this is good news this time.
Looks strong, maybe this will finally take it back over a dollar. Bought 15000.
Hey, Dennis + Stocks2watch2, are you both holding PRGX still ??? Good day to add to today ! ;D
i sold it yestrday at .68 i thought it would go higher this time.if it stabilizes around .60 i might buy again.
Alot of speculation about the crazy volume and no movement today.
This link is floating around the Yahoo MB as a possible reason why.
http://finance.myway.com/jsp/nw/nwdt_ge.jsp?news_id=dji-00084120060323&feed=dji&
QuoteTraders might bid 0.4814 for a stock offered at 0.4800, for instance.
That characterizes PRGX trading perfectly.
There was an insane amount of volume today!(http://img104.imageshack.us/img104/6012/sc1bp.png)
Stock is in an uptrend, still looks good. No need to worry, imho.
probably moves up today...;
PRG SCHULTZ INTERNATIONAL INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Termination of a Materi
EDGAR Online (Thu 5:16pm)
• PRG SCHULTZ INTERNATIONAL INC Files SEC form 10-K, Annual Report
EDGAR Online (Thu 4:07pm)
go read the links...seems to be good .. ::)
Stock to watch monday morning ----> PRGX will come HOT @ opening bell, looks like I can make a quick $$$ out of this he he he... ;D ;D
FRIDAY CLOSE: 0.61 up 0.04 (7.02%)
AFTER HOURS: 0.96 up 0.35 (57.38%)
--- PRGX touched the 8 SMA
I believe that the AH price was a mistake and its up .05 now on pre market. It is due to run, get on before it happens !!
Any thought about PRGX now ??? ???
I own some PRGX and it has been down lately even with quite large volume. Anyone know what to make of this one? It's pissing me off.
Some conversions are going on now, so I would HOLD on the PRGX.
I see retest the 50-dma
I think Manipulation, put behind this conversion and the stock will be free.
I do not have any holdings in this.
Support @ 0.52
Resistance @ 0.82...1.03...3.14
Up 10% now ;D
Holding 12% up now with no news. This could breakout soon. Someone knows something. Maybe some AH news on a Friday can lift my spirits after AIDO killed me earlier this week.
Hey!! ;D ;D ;D
In with you guys at .65--
What's up today?
(http://img45.imageshack.us/img45/4900/scju2.png)
The only thing I can think of is that tomorrow is the end of their 20 days as PRGXD. Tomorrow they gp back to PRGX. Not sure why such a spike though.
Strong close to an already big day; nothing remarkable about the volume though.
(http://img63.imageshack.us/img63/6664/scyc6.png)
Agreed, the volume is low but it is much higher than it has been in the past couple of weeks. Tomorrow will be interesting.
Hello guys,
PRGX , after re-gainig Nasdaq Compliance, and after having made a split after 0.3...!
is doing better :
http://finance.yahoo.com/q?s=prgx
After the split (3.5), ... pps comes down to 2.6...then going North, today hits 5.11 $ (MA 50 - MA 200 broken )
have a look on stockcharts : http://stockcharts.com/h-sc/ui?s=PRGX&p=D&b=5&g=0&id=p
:)
Best,
Id.
:)
this is an interesting one..
in the radar again!
Anyone watching this sleeper? It's at almost $6 now. Only gone up this week.
interesting to see all recently Insider buys ...
http://finance.yahoo.com/q/it?s=PRGX
....watch volumes last days....better...better
....'m curious to see where PRGX is going...but it seems to be well gone !
:)
Id...
Hi,
PRG-Schultz Announces Third Quarter 2006 Financial Results
Tuesday November 7, 6:00 am ET
ATLANTA--(BUSINESS WIRE)--PRG-Schultz International, Inc. (Nasdaq: PRGX - News), the world's largest recovery audit firm, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2006.
Highlights of Financial Results
Net loss for the 2006 third quarter was $4.2 million or ($.69) per basic and diluted share, including a loss on discontinued operations of $0.2 million, a charge of $2.0 million related to grants under the recently adopted management incentive plan for the Company's senior executives, a charge of $1.7 million associated with the voluntary surrender and cancellation of stock options by the Company's chief executive officer, $0.4 million of other stock-based compensation charges, and a charge of $0.2 million for severance related to the Company's operational restructuring which began in the third quarter of 2005. This compares to a net loss of $20.8 million, or ($3.35) per basic and diluted share for the same period in 2005, which included a loss from discontinued operations of $1.1 million, and a charge of $7.9 million for severance and other charges related to the previously mentioned operational restructuring.
Adjusted EBITDA for the 2006 third quarter was $8.7 million compared to a negative adjusted EBITDA of ($5.4 million) for the same period in 2005. The 2006 third quarter adjusted EBITDA is earnings (loss) from continuing operations before interest, taxes, depreciation and amortization (EBITDA) excluding the $1.7 million charge related to the cancellation of the CEO's options, the $2.4 million of charges related to other stock-based compensation, and the $0.2 million charge for severance associated with the operational restructuring. The negative adjusted EBITDA for the third quarter of 2005 is EBITDA for the period excluding the $7.9 million operational restructuring charge and $0.1 million of stock-based compensation charges. (Schedule 3 attached to this press release provides a reconciliation of net earnings (loss) to each of EBITDA and adjusted EBITDA.)
Consolidated revenue for the third quarter of 2006 was $64.7 million, a decline of 2.6% compared to $66.4 million for the same period in 2005. Cost of Revenue and SG&A expenses combined were $62.7 million for the third quarter, a decrease of $12.7 million, or 16.8%, compared to the same period in 2005.
Net loss for the first nine months of 2006 was $18.2 million or ($2.95) per basic and diluted share, including a non-cash charge of $10 million resulting from the Company's financial restructuring which was completed in March of this year, a loss on discontinued operations of $0.9 million, a charge of $1.7 million related to the cancellation of stock options, charges of $3.1 million related to other stock-based compensation, and a charge of $2.1 million for severance and other charges related to the operational restructuring. This compares to a net loss of $32.0 million, or ($5.16) per basic and diluted share for the same period in 2005, which included a loss on discontinued operations of $1.2 million, the $7.9 million charge related to the operational restructuring, $0.3 million of stock-based compensation charges, and accruals of $3.5 million for the retirement benefits of the Company's former chairman and CEO, John Cook, and its former vice chairman, Jack Toma.
Adjusted EBITDA for the first nine months of 2006 was $21.8 million compared to negative adjusted EBITDA of ($0.3 million) in the first nine months of 2005. Adjusted EBITDA for the 2006 nine-month period excludes a $1.7 million charge related to the cancellation of stock options, $3.1 million of charges related to other stock-based compensation, and a $2.1 million charge for severance and other charges associated with the operational restructuring. The negative adjusted EBITDA for the first nine months of 2005 is EBITDA for the period excluding the $3.5 million retirement accrual for Messrs. Cook and Toma, the $7.9 million operational restructuring charge, and $0.3 million of stock-based compensation charges.
Consolidated revenue for the first nine months of 2006 was $195.6 million, a decline of 11.0% compared to $219.7 million for the first nine months of 2005. Cost of Revenue and SG&A expenses combined were $186.9 million for the 2006 nine-month period, a decrease of $48.0 million, or 20.4%, compared to the same period in 2005.
http://finance.yahoo.com/q?s=prgx
(http://\\assurancetourix\xavier.bastin$\mes%20images\prgx.jpg)
Id...
PRGX
Bullish signs :
MA 50 crossed over MA 200...
EMA 200 is broken
(http://\\assurancetourix\culture.la-gb1$\mes%20images\sans%20titre.jpg)
Id...
PRGX still climbing ...
(http://C:%5CDocuments%20and%20Settings%5CRaymond%5CMes%20documents%5CMes%20images%5CSans%20titre.JPG)
olalalalaaaa...
(http://\\assurancetourix\culture.la-gb1$\mes%20images\sans%20titre.jpg)
Hi,
the bear stock of the day...all comments are on chart
strategy:
sell at 14
stop-loss at 15
target at 12
reward/risk ratio of 16.6 / 7.14 = 2....
watch out PRGX
"PRGX" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;)
All history on a stock pick in 1 thread is awesome. ;)
Thank You....and good luck with all your trades....make some $$$ ;D