This is a class action on behalf of purchasers of the common stock of Mobile Telecommunications Technologies Corp. The defendants' scheme included a series of false statements about Mtel's "much hyped" SkyTel 2-way paging product and Mtel's financial condition and inflated Mtel's stock price, resulting in substantial injury to purchasers of Mtel stock during the Class Period. Mtel provides remote mobile paging services through a service dubbed SkyTel. Prior to the Class Period, Mtel and other paging companies utilized 1-way alphanumeric paging whereby the person wearing the pager would receive a very short text message or phone number to call but was unable to communicate via the pager and the sender was not able to determine if the message had been received.
Ultra completed three horizontal wells in the third quarter, but production results were disappointing.
The company does not expect to resume its horizontal drilling program until Ultra has reduced its drilling rig count to three from four and lowered its production guidance for The lower commodity prices and cash flow from operations will reduce Ultra's financial flexibility and delay development of its reserves.
If EBITDA generation does not improve, the company may be required to seek an amendment to its leverage financial covenant in In OctoberUltra announced an agreement with holders of its senior unsecured notes, in which it would exchange a portion of each of its senior unsecured notes due and for new second lien senior secured notes and new warrants of the company.
However, the agreement is subject to approval by at least a majority of Ultra's lenders under its revolving credit facility and term loan, which Ultra has yet to receive. Notwithstanding the potential benefits that would be provided by the exchange, Ultra would still have a heavy debt load relative to its cash flows, and correspondingly weak leverage metrics.
Ultra's Caa1 CFR reflects its poor cash flow metrics, high leverage and moderate scale as measured by expected production volumes Bcfe for per company guidance following the third quarter. Leverage, as measured by the debt to PV value of proved reserves ratio of 1x as of year-endwas high.
The recent slowdown in development of reserves with three rigs operating will result in lower growth in production volumes and less improvement in unit costs. Ultra's large, contiguous position in the Pinedale Field in Wyoming provides a deep drilling inventory with significant future development opportunities and meaningful proved developed PD reserves value.
The rating is constrained by the geographic concentration of reserves that are principally in a single basin and natural gas production focus.
The volatility of Ultra's cash flows, which are highly levered to weak and range-bound natural gas prices, is dampened by an active hedging program.
Ultra's SGL-4 rating reflects weak liquidity as lower realized natural gas prices and a decrease in development activity will lead to worsening financial covenant ratios and potentially reduce the revolver's borrowing base in Liquidity is supported by availability under its reserves-based revolving credit facility and operating cash flows.
Persistently low natural gas prices and high basis differentials compared to Henry Hub prices for Ultra's natural gas sales may pressure the borrowing base when it is re-determined in April Ultra had full availability under the revolver as of September 30,which should allow the company to modestly outspend cash flow from operations throughshould it choose to do so.
Moody's expects drilling activity to be funded with internally generated cash flows, and for debt balances to remain relatively flat. Substantially all of the company's assets are pledged as security under the credit facility, which limits the extent to which asset sales could provide a source of liquidity.
The negative outlook reflects uncertainty over Ultra's development activity, natural gas selling prices that will remain low at least until additional pipeline infrastructure improves basis differentials and cash flows that could lead to a deterioration in the company's credit metrics.
The principal methodology used in these ratings was Independent Exploration and Production Industry published in May Please see the Rating Methodologies page on www. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating.
For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating.
For any affected securities or rated entities receiving direct credit support from the primary entity ies of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity.
Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity. Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.Summarizing our profit metrics, GAAP net loss for the third quarter was $ million or $ per share compared to a net loss of $ million or $ per share in the comparable prior year quarter.
May 06, · Accounting please help? Ahron Company makes 80, units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows: How much of the unit product cost of $ is relevant in the decision of whether to make or buy the part?
a. $ b. $ c. $ d. $ Status: Resolved. Question: (TCO D) Fouch Company makes 30, units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows. Direct Materials $ During the year it ordered an additional $ of supplies received (and paid for in cash) $ of supplies and consumed $ of ashio-midori.comse:Scenario CInvestment gains and losses may have to be accounted for differently in nonexpendable than in expendable ashio-midori.com McCracken County Humane Society (MCHS) which is part of a.
C) save $6. and the company may be able to rent the facility previously used for manufacturing the plugs per unit units per year of a part it uses in the products it manufactures. all of the direct labor cost of the part would be avoided of the fixed manufacturing overhead cost being applied to the part would continue even if the part.
(TCO D) Fouch Company makes 30, units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows. Direct Materials $