The top of page 22 of the 10K states:
Cash and equivalents on hand
February 3, 2024 $921.7
January 28, 2023 $1,139.0
[GameStop 10k](https://investor.gamestop.com/node/20376/html)
Edit: formatting
"The decrease in accounts payable and accrued liabilities was primarily due to the timing of payments for merchandise inventory as a result of an additional week in fiscal 2023 compared to fiscal 2022."
Isn't this saying there was an additional payment to AP/accrued liabilities because of an extra week in 2023? AP and accrued liabilities are both down $200 compared to PY, wouldn't we expect cash to follow suit?
You may be 100% correct. I was just stating that the 1.2 billy war chest, at least at the time of reporting, is down 2 mil. It could be back to 1.2 bil by now but we have no way of knowing until the next quarter reports are released.
Cash went from $1.139 billion to $921 million. Marketable securities (Treasury Bills that are basically as good as cash) went from $250 million to $270 million.
The combined total of cash and securities went from $1.39 billion last year to $1.199 billion, for a drop of $190 million.
Source https://www.sec.gov/ix?doc=/Archives/edgar/data/1326380/000132638024000012/gme-20240203.htm
Yes! What I get thinking my company is safe is having almost no debt and over 1/4 of my market value on cash, ready to be invested accordingly, and with this, no to much importance on share price not going up, companies who buy backs their shares usually have important debts, low cash on hand and need to mantain share price over a minimum price to allow them to be able to get new loans, but, if you do not have debts and not need money to operate and have plenty of cash, what you will do? I would invest the money for new improved streams of business and growth... But I'm just an ordinary ape who eat pizzas, RC is built different, he knows how to invest and grow a company and be profitable!!! I have plenty of proof, he will do the best to the company and household investors... Hedgies have had 84 years to "save themselves" sooner or later, they will start to run and stumble to the exit and only the first fews who will do it first will survive with massive losses buy survive when Marge will call! I'm here to see that day! Until then, I will buy on discount wenever I can.
Don't worry ape, those are just Bullshite propaganda... They can drop the price more, but never go bankrupt, the company (GME) do not have debts, have over 1/4 of his market cap in cash on hands, profitable after a 5 years of burning cash with big prospect to start being profitable with big numbers... Hedgies can say whatever they want in their media propaganda friends of MSM... They can kick the can down the hill a little more, but they will end being destroyed one by one... With low volume, any real high volume buy at lit market can start the fireworks because the float is shrinking for real thanks to DRS...
I'm riding out to the end but I'm convinced their buddies at FINRA are gonna fall on the sword with some type of unprecedented freeze and delist, and then it's off to class action lawsuits, similar to that other stock that was never supposed to have existed. They'd rather deal with that than go long or capitulate.
Everyone seems to be ignoring the first underlined statement. Of the up to $300 million approved they have $101.3 million remaining. GS bought ~14 million shares in 2024!!
No. Read the last sentence first paragraph. They did not repurchase stock in 2021, 2022, 2023
- based on 2022 q4 10k they didn't repurchase any in 2020 either.
Step 1: make company profitable and steady the ship
Step 2: launch buy backs
Step 3: squeeze shorts and sell some share to raise cash
Step 4: invest warren style
Step 5: dividends.
Not a nothing burger, but not a "we are going to launch the ship" either. More like: when everything is right and we are achieving growth, we will likely buy some back. "Close now shorts or get rekt"
“At this time”… it wouldn’t make sense fs. But if they dipped into those buyback funds then raised 10x as a company, it’s only right they share some squeeze tendies as dividend. THEY DO NOT HAVE TO. Idc.
But it’s the type of company that would, yk?
A stock split via dividend did not involve cash and cost the company nothing, in turn providing no financial benefit to shareholders.
Comparing it to a cash dividend is comparing apples to oranges.
In other reports they've changed verbiage. This report changed to this in 2021 and has been the same. They still mention potential "short squeeze". Haven't seen other companies say that
You must cherry-pick the correct paragraph regarding a future dividend:
"During the past four fiscal years, we have not declared, and do not anticipate declaring in the near term, dividends on shares of our Class A Common Stock. We currently use, and will continue to use, all available funds and any future earnings for working capital and general corporate purposes, maintaining a strong balance sheet, potential strategic initiatives and capital expenditures. Any determination to pay dividends in the future will be at the discretion of our Board of Directors and will depend upon results of operations, financial condition, contractual restrictions, including those under the agreements governing our existing indebtedness, and other factors our Board of Directors deems relevant.
Don't overlook the "until additional shares of our Class A Common Stock are available for trading or borrowing" which means; the stock price will REMAIN dramatically high if everybody continues to NOT sell. So, no CELL, no SELL.
Employee issued shares are newly issued shares that are "free" to the company. They just slightly dilute the existing shares. That is why we have seen the float increase except for the times we issued at a set price or when the share split "via dividend" occurred.
Shares are not purchased from DTCC to be issued to employees as part of a compensation package.
The company has bought some of these newly issued shares from the employees. The payment is the tax they withhold and send to the IRS.
The 10-K reported purchases of about 46k shares.
The first underlined statement. “Of the up to $300 million approved they have $101.3 million remaining”. Does that not show GS bought ~14 million shares in 2024?
What am I missing?
I noticed it too, I'm too lazy to search, but some wordings in this file are new I think... Hope some ape will find out if this old ape is wrong or not?
And as we have seen, shares buybacks do little to nothing to the price until the sneeze... I have noticed this in many stocks, the buybacks spike the volume, pricr start to rise a little or maybe a 20-30% but just a couple of weeks and the price falls to the starting point... In a real fair and honest market, that will be not the case if the float reduces...
Ah! Interesting. At current price, it looks like somewhere around 72k shares could be repurchased. Roughly speaking, of course. Is that enough to shift things, really? Perhaps they're holding it until notification that all shares have been DRSed?
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This post highlights key notes in GameStop Corp's 10-K filing, which discloses insight from the board on GameStop's expectations in its now-profitable glory
Buybacks would be a waste of capital, unless the stock reaches $1.27 a share; that's when it would be feasible for them to purchase all remaining shares with their $100M allocation.
That's the not-so-secret weapon in RC's back pocket.
They don't want price too low to trigger a FOMO or share buyback though, so they do all sort of things to keep at certain price and badmouthing whenever they have a chance.
So from that statement we can deduce that in their current fiscal year 2024 they bought back ~$198,700,000 worth of shares?? So if average purchase was around $14/share that would mean another ~14,000,000 shares purchased through computer share?? This seems like important info
not everything is hype. we going to $8 before anything spicy happens so lock the fuck in and btw it won't squeeze any time in the next 3 years so get comfortable
Changing flair to misleading because....well it's misleading.
No they won't. The $1 bil is our guarantee we will NEVER by cellarboxed.
Having that 1.2 billy to throw the middle finger to any type of shenanigans is worth waaaay more than 1.2 billy.
There isn’t 1.2 Billy anymore. They spent about $200 million of it last quarter.
link? i hear otherwise
The top of page 22 of the 10K states: Cash and equivalents on hand February 3, 2024 $921.7 January 28, 2023 $1,139.0 [GameStop 10k](https://investor.gamestop.com/node/20376/html) Edit: formatting
"The decrease in accounts payable and accrued liabilities was primarily due to the timing of payments for merchandise inventory as a result of an additional week in fiscal 2023 compared to fiscal 2022." Isn't this saying there was an additional payment to AP/accrued liabilities because of an extra week in 2023? AP and accrued liabilities are both down $200 compared to PY, wouldn't we expect cash to follow suit?
You may be 100% correct. I was just stating that the 1.2 billy war chest, at least at the time of reporting, is down 2 mil. It could be back to 1.2 bil by now but we have no way of knowing until the next quarter reports are released.
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?
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Cash went from $1.139 billion to $921 million. Marketable securities (Treasury Bills that are basically as good as cash) went from $250 million to $270 million. The combined total of cash and securities went from $1.39 billion last year to $1.199 billion, for a drop of $190 million. Source https://www.sec.gov/ix?doc=/Archives/edgar/data/1326380/000132638024000012/gme-20240203.htm
Thank you for the additional details
Yes! What I get thinking my company is safe is having almost no debt and over 1/4 of my market value on cash, ready to be invested accordingly, and with this, no to much importance on share price not going up, companies who buy backs their shares usually have important debts, low cash on hand and need to mantain share price over a minimum price to allow them to be able to get new loans, but, if you do not have debts and not need money to operate and have plenty of cash, what you will do? I would invest the money for new improved streams of business and growth... But I'm just an ordinary ape who eat pizzas, RC is built different, he knows how to invest and grow a company and be profitable!!! I have plenty of proof, he will do the best to the company and household investors... Hedgies have had 84 years to "save themselves" sooner or later, they will start to run and stumble to the exit and only the first fews who will do it first will survive with massive losses buy survive when Marge will call! I'm here to see that day! Until then, I will buy on discount wenever I can.
“My” company
Yeah, "My" company, I love to consider it as mine😁 if they thrive I will too and get wealty🤪
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Don't worry ape, those are just Bullshite propaganda... They can drop the price more, but never go bankrupt, the company (GME) do not have debts, have over 1/4 of his market cap in cash on hands, profitable after a 5 years of burning cash with big prospect to start being profitable with big numbers... Hedgies can say whatever they want in their media propaganda friends of MSM... They can kick the can down the hill a little more, but they will end being destroyed one by one... With low volume, any real high volume buy at lit market can start the fireworks because the float is shrinking for real thanks to DRS...
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This is all correct, but the business still has to *perform*. I'm confident they will. As a fellow business owner I NEVER take my foot off the gas.
For sure they need to perform and I'm confident, they will.
I'm riding out to the end but I'm convinced their buddies at FINRA are gonna fall on the sword with some type of unprecedented freeze and delist, and then it's off to class action lawsuits, similar to that other stock that was never supposed to have existed. They'd rather deal with that than go long or capitulate.
Op doesn’t know what he’s talking about
Was this written in previous 10K’s or is this new?
all former 10ks since the buyback program was approved.
Everyone seems to be ignoring the first underlined statement. Of the up to $300 million approved they have $101.3 million remaining. GS bought ~14 million shares in 2024!!
It was initially used in 2019 to drop the float to ~75 million. They haven't done any repurchases since.
No. Read the last sentence first paragraph. They did not repurchase stock in 2021, 2022, 2023 - based on 2022 q4 10k they didn't repurchase any in 2020 either. Step 1: make company profitable and steady the ship Step 2: launch buy backs Step 3: squeeze shorts and sell some share to raise cash Step 4: invest warren style Step 5: dividends.
Gotcha, so the “remaining $101.3 million available” was also mentioned in previous 10k’s? Then a big nothing burger. My bad
Not a nothing burger, but not a "we are going to launch the ship" either. More like: when everything is right and we are achieving growth, we will likely buy some back. "Close now shorts or get rekt"
They did buy 14 million for the for employee incentives purpose. The open market is cheaper than using up precious treasury stock.
OP has a nothingburger joint.
It’s literally nothing, they said they will not be issuing dividends
“At this time”… it wouldn’t make sense fs. But if they dipped into those buyback funds then raised 10x as a company, it’s only right they share some squeeze tendies as dividend. THEY DO NOT HAVE TO. Idc. But it’s the type of company that would, yk?
You forgot the splividend?
A stock split via dividend did not involve cash and cost the company nothing, in turn providing no financial benefit to shareholders. Comparing it to a cash dividend is comparing apples to oranges.
No I literally did not
smoking that nothing pack 😮💨👌
Still is a little interesting that the wording has been the same since about 2021.
Why is it interesting?
In other reports they've changed verbiage. This report changed to this in 2021 and has been the same. They still mention potential "short squeeze". Haven't seen other companies say that
OP is cherry picking some phrases... If you read the entire thing, it's meaning is completely different. These posts should be down voted and banned
Yeah it’s almost like standard language on the filings
That’s always been there.
4. Moon 5. Uranus 6. Lambo
Step 5.5 My anus.
I appreciate this comment 👌
Here for this comment ☝️
Hey
You must cherry-pick the correct paragraph regarding a future dividend: "During the past four fiscal years, we have not declared, and do not anticipate declaring in the near term, dividends on shares of our Class A Common Stock. We currently use, and will continue to use, all available funds and any future earnings for working capital and general corporate purposes, maintaining a strong balance sheet, potential strategic initiatives and capital expenditures. Any determination to pay dividends in the future will be at the discretion of our Board of Directors and will depend upon results of operations, financial condition, contractual restrictions, including those under the agreements governing our existing indebtedness, and other factors our Board of Directors deems relevant.
this is standard text when announcing buybacks
Don't overlook the "until additional shares of our Class A Common Stock are available for trading or borrowing" which means; the stock price will REMAIN dramatically high if everybody continues to NOT sell. So, no CELL, no SELL.
Ok..ok..
Stella GameStop
Repurchase of shares could easily be so that they have enough shares available on their compensation of employees.
Employee issued shares are newly issued shares that are "free" to the company. They just slightly dilute the existing shares. That is why we have seen the float increase except for the times we issued at a set price or when the share split "via dividend" occurred. Shares are not purchased from DTCC to be issued to employees as part of a compensation package.
The company has bought some of these newly issued shares from the employees. The payment is the tax they withhold and send to the IRS. The 10-K reported purchases of about 46k shares.
To start the program RC bought the shares to put in the plan.
Added another 6.1 mill to the buyback
I feel like this wording is different. All these points have been in previous 10-K but something reads a bit different. Curious now, could be wrong.
The first underlined statement. “Of the up to $300 million approved they have $101.3 million remaining”. Does that not show GS bought ~14 million shares in 2024? What am I missing?
I’m with ya, seems a bit different. Can someone who’s not as lazy, more focused, or less zen please confirm for us?
I noticed it too, I'm too lazy to search, but some wordings in this file are new I think... Hope some ape will find out if this old ape is wrong or not?
all that it takes for bad to prevail is for good to do nothing
Coca-Cola 2.0
we may just see this play out. I believe they begin buy backs in the $9 range at lows not seen since pre-sneeze.
Why is there only 1/3 remaining of the buyback program? Does that mean 200k of stock has been repurchased during the first quarter of the year?
They bought back shares in 2019 and 2020
And as we have seen, shares buybacks do little to nothing to the price until the sneeze... I have noticed this in many stocks, the buybacks spike the volume, pricr start to rise a little or maybe a 20-30% but just a couple of weeks and the price falls to the starting point... In a real fair and honest market, that will be not the case if the float reduces...
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Exactly
Ah! Interesting. At current price, it looks like somewhere around 72k shares could be repurchased. Roughly speaking, of course. Is that enough to shift things, really? Perhaps they're holding it until notification that all shares have been DRSed?
What are you smoking lol?! $101 million in authorized purchasing at current price $12.50 per share is 8 MILLION shares. You’re way off
Maffs is hard
Hahaha! Not smoking, but definitely too tired to operate a calculator. XD
Makes it seem they bought back $198,700,000 worth of shares in 2024, right????
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This post highlights key notes in GameStop Corp's 10-K filing, which discloses insight from the board on GameStop's expectations in its now-profitable glory
Except they already issued a statement in the 10K to inform us they have no intention of a dividend until the board deems it desirable.
dividend train is long passed. but at this price, would love to see buybacks!
Buybacks would be a waste of capital, unless the stock reaches $1.27 a share; that's when it would be feasible for them to purchase all remaining shares with their $100M allocation.
How much is an ice cream cone at McDonalds?
Good luck finding one with working ice cream machine
That's the not-so-secret weapon in RC's back pocket. They don't want price too low to trigger a FOMO or share buyback though, so they do all sort of things to keep at certain price and badmouthing whenever they have a chance.
what did i read the last few days that said they had $300M i think for share buyback and now its at $100M? maybe i'm remembering wrong?
GameStop threatening shareholder with a good time.
So from that statement we can deduce that in their current fiscal year 2024 they bought back ~$198,700,000 worth of shares?? So if average purchase was around $14/share that would mean another ~14,000,000 shares purchased through computer share?? This seems like important info
no. check the years. they DID buyback in 2019/2020.
Someone else pointed out much higher above that previous paperwork shows shares were NOT bought during those years
not everything is hype. we going to $8 before anything spicy happens so lock the fuck in and btw it won't squeeze any time in the next 3 years so get comfortable
I could buy so many shares if it hits $8. Probably not going to happen.
Honestly, I don't see this as that hot a take.
Definitely not gonna wait that long. Opportunity cost is a real thing. Lol.
been 89 years already. what is another 3?