SEC Digest
Stay up to date on what's going on in the world of SEC Filings with our daily SEC Digest.

MedBox Inc., Baupost Group, Discover Financial: Filings Digest for February 11, 2013

February 11, 2013

In today’s SEC filings digest, Medbox Inc. shows record EBITDA in 4th Quarter 2012 financials, Baupost Group reveals Idenix Pharmaceuticals stake, and Discover Financial reports fewer uncollectible loans in January.

MedBox shows significant growth in both revenue and earnings

According to the fourth quarter’s results filed by MedBox, the company’s income increased to $4.5M in 2012. Earnings before interest, tax, depreciation, and amortization reached $310K, meaning that the company achieved over 35% EBITDA margin for 2012. There was a jump in company’s retained earnings from $123K as of January 1, 2012 to over $1M as of December 31, 2012. In January 2013, the company generated over $900K revenue – a record month fed mainly by the marijuana industry, in which Medbox operates. The company provides consulting and technology to medical marijuana dispensaries making them more transparent and adherent to state and local laws. The company expects to file Form 10 (for Registration of Securities) by March. There will be an update of its OTC Markets filing page with the information by week’s end at: www.otcmarkets.com/stock/MDBX/filings

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Dell Inc., Firsthand Technology, Hornbeck Offshore: Filings Digest for February 8, 2013

February 8, 2013

In today’s SEC filings digest, Michael Dell puts $750M cash towards buyout, Firsthand Technology Value Fund discloses top portfolio holdings, and Hornbeck Offshore Services CEO discusses Q4 results.

Dell Inc.: The largest private equity-backed buyout since the financial crisis

Michael Dell, along with his investment firm, are expected to cough up $750M cash for the buyout of Dell Inc. Five hundred million dollars will be contributed by Michael Dell while MSD Capital will contribute the remaining $250M. According to a recent filing made by the company, $7.4B of cash parked abroad will also be tapped to make sure the deal is realized. Obviously, a hefty amount of tax would be levied on this transaction. The business world is abuzz with the news of this buyout and all eyes are now waiting for a potential Michael Dell miracle. However, there is potential resistance from various corners including shareholder Frederick “Shad” Rowe of Greenbrier Partners, who says that the deal lacks specifics. Rowe also cites a potential conflict of interest with Michael Dell being the single largest shareholder.

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McDonald’s, Yahoo, Vince: Filings Digest for January 29, 2013

January 29, 2013

In today’s SEC filings digest, analysis of McDonald’s impressive net profit margin performance, conference call with new Yahoo CEO details fourth quarter results, and owners of apparel brand Vince show interest in taking the company public.

McDonald’s Stays Ahead of the Curve

Eric Sprague on Seekingalpha.com gives an overview of McDonald’s (MCD) profit margin increases over the last 28 years, with comparisons against data from competitors during the last 10 years. The article praises McDonald’s for the net profit margin increases, and states that the company’s unique franchising system, brand, and real estate system are some of the reasons for its success.

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Google, Annie’s, Arena Pharmaceuticals: McDonald’s, Yahoo, Vince: Filings Digest for January 23, 2013

January 23, 2013

In today’s SEC filings digest, Google 4th Qtr. up 36% over last year, Annie’s initiates voluntary pizza recall, Arena Pharmaceuticals awaiting EU approval of diet product.

Google 8-K Shows Strong 4th Quarter

In its latest 8-K filing, founder Larry Page says “Revenues were up 36% year-on-year, and 8% quarter-on-quarter.” The year over year increase amounts to consolidated revenues of $14.42B with traffic acquisition costs (TAC) of $3.08B or 25% of advertising income. The filing states that revenues would have been $15.24 billion had Motorola Home business segment been included.

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Ashford Hospitality, The Travelers Companies, Angie’s List: McDonald’s, Yahoo, Vince: Filings Digest for January 22, 2013

January 22, 2013

In today’s SEC filings digest, Ashford Hospitality projects continued growth, Travelers 8-K reflects impact of Sandy, Angie’s List Hires a new COO.

Ashford Hospitality Trust 8-K Projects Growth

Ashford Hospitality Trust (AHT) filed an Economic & Industry Overview presentation in an 8-K today. Ashford Hospitality operates upper-mid-to-luxury hotel properties including Crowne Plaza, Hilton, and Hyatt. The form 8-K projects that a trend growth in demand outpacing supply that began in 2010 will continue until at least 2015. The report also projects revenue per available room to grow between 3.5% and almost 9% per year through 2016.

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Apollo Group, Carlyle Group, AmSurg: McDonald’s, Yahoo, Vince: Filings Digest for January 21, 2013

January 21, 2013

In today’s SEC filings digest, Apollo Group has a change in leadership, Carlyle Group issues notes, AmSurg announces new Executive VP of Operations.

University of Phoenix Parent – Apollo Group – Announces Retirement

Footnoted.com reports that Apollo Group (APOL), which is best known for the for-profit online University of Phoenix, announced in a 8-K filing that Executive Chairman and founder Dr. John Sperling would be retiring to the position of Chairman Emeritus. Sperling’s retirement package includes a $5 million special retirement bonus and lifetime annuity of $71K per month and the transfer of two automobiles.

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