Note: These are directly copied from Adam Aron’s Twitter page and can be found here.
July 30, 2021 at 11:34 AM:
(1): “Many of you continue to be concerned about the AMC share count. In early June, we announced an all-inclusive share count total of 513,330,240 legally issued shares. Precisely zero new shares have been issued by AMC since then.”
(2): “As to the existence of so-called fake or synthetic shares, or the naked short selling of AMC shares, we are unaware of any information validating these theories. Also, we are unable to make any comment on the considerable trading of puts/calls derivatives.”
Although this is not legal nor financial advice, I figure I would post this to share my opinion regarding the AA’s selection of words. I am no lawyer, although given the legal implications of what AA can (and cannot) say, it seems to be like he’s telling us to read between the lines (like everyone has said).
I am no lawyer, however, as a law student, I find a few portions of the first tweet to jump out at me, as if I was told by an attorney/boss what I can and can’t say.
“[We] announced . . . total count . . . [legally] issued shares.” is something that smells like lawyers. We being AMC as an entity, announcing the total count of legally issued shares still could likely leave the door open for some other kind of shares. (Hint).
Further, “zero new shares have been issued by AMC since then”, includes the additional shares AMC offered via the ATM, however, AA doesn’t definitely state that there are not shares being “issued” by entities outside of AMC.
Although this is speculative, I’d be curious to see what anyone else thinks regarding AA’s careful selection of words, and if anyone else thinks there’s something more to be read out of these Tweets if you understand what AA can/cannot say to the public.
One last thing, make sure you submit your questions to be answered during the earnings call next week!
If you want to see the question’s I’ve submitted and/or upvote them feel free. Will upload links once my questions have been approved.
Question 1: Would AMC consider looking into strategic alternatives such as offering an NFT Platform for movie memorabilia/tickets/etc.?
Question 2: Would AMC consider looking into acquiring certain streaming platforms as either a partnership or vertical buy-out/acquisition?
Question 3: Is AMC having any issues related to voter count and/or tracking voting results related to any ongoing investigations, potential future litigation, or issues currently being looking at by AMC’s legal counsel?