Afternoon all,
I thought it might be fun to try and take the last three weeks and have a recap of the data and news surrounding RILY. I just searched this sub and news outlets and such for the last 3 weeks and took notes then fed them into an AI software asking it to summarize everything. In no way is this Financial Advice just a fun task.
"The financial landscape for B. Riley Financial, Inc. showcases a dynamic narrative of operational resilience and strategic positioning. The company's recent activities reflect a strategic focus on managing debt obligations effectively while optimizing business segments for sustainable growth. The strategic review process for Great American Group retail liquidation and appraisal businesses is progressing, indicating a commitment to enhancing operational efficiency and value creation.
In the earnings summary, a net loss of $51 million was reported, primarily driven by investment-related losses and professional services expenses. Despite these challenges, the company's strategic initiatives and operational performance remain robust, as highlighted in the earnings call. Executives Bryant Riley and Tom Kelleher emphasized the company's operational excellence and strategic direction, underscoring a commitment to shareholder value and sustainable growth. The company's strategic reviews and commitment to shareholder value remain steadfast amidst market volatility caused by short manipulation.
Furthermore, the full redemption of $25,000,000 aggregate principal amount of 6.75% Senior Notes due 2024 signifies a proactive approach to managing debt and strengthening the company's financial position. This strategic move aligns with the company's focus on optimizing its capital structure and enhancing financial flexibility.
Overall, B. Riley Financial's narrative is one of resilience, strategic foresight, and operational excellence in navigating market dynamics and challenges. The company's commitment to financial prudence, strategic reviews, and operational performance positions it well for sustained growth and value creation in the evolving financial landscape."
Below is the data the AI used to create the summary. Just copy and pasted from a very quick and crude gathering of information into a word doc. I also enjoyed the earnings summary the AI did. The last line made me feel happy thoughts. - In summary, B. Riley Financial's first-quarter 2024 results underscore its strong operational foundation and strategic foresight, positioning it well for future growth and shareholder value creation.
1. Cohodes being loud and classless examples
https://preview.redd.it/xymj94vp5f1d1.png?width=637&format=png&auto=webp&s=3d9f18f4f877f7fb518039bc78198e77e3fcd190
https://preview.redd.it/bxacg0bp5f1d1.png?width=975&format=png&auto=webp&s=9a4eba6a4a39457cc47661be5836008976b37fc6
https://preview.redd.it/q5kdr5qo5f1d1.png?width=975&format=png&auto=webp&s=14dcb5473ed7dcac4646eaba2b983806f32bd875
https://preview.redd.it/ky1hlc1o5f1d1.png?width=789&format=png&auto=webp&s=4c603719820d06ea91d9181ad3c41734a603b795
https://preview.redd.it/soco7bjn5f1d1.png?width=969&format=png&auto=webp&s=dfbcf20f984e391c51afcc89e46597d1d9dff6ad
https://preview.redd.it/pwbnnwwr5f1d1.png?width=975&format=png&auto=webp&s=fe06146b727540c291825eda8db5f33b11e9e992
2. Discussion about FUD and shorts deception
I see the shorts (Marc Cohoded and Co.) are still at it, trying to l use a fake psychological twist to cause doubt. Let's stick to the facts and let the price go where it will in the long term. Short thesis was and is there was fraud, both proven wrong by independent investigation and a clean independent audit if the 10-K and now 10-Q. You can slap that one around anyway you want, but both came up clean. First, they have stated their intentions of a sale of a carried undervalued asset (Great American) by a third party for a massive realized gain. Good for the investors and bond holders as they said they would use funds to deleveverage the balance sheet and buy back stock which already has very little float. Second, I have never seen a company that is paying dividends go under whith out, completely eliminating the dividends first (RILY still pays a dividend and baby bonds are all current--none are in any default). Third, business has been good with lots of new hires, new capital makets raises and fees and their business seems to be thriving. Shorts will try to mislead all of us with their lies and deciept but if we hold strong I believe that the stock will go to at least 50 ish in the short term where they did their secondary. I believe at that point, RILY may run into a bit of resistance. However, a squeeze could easily send us through that to new highs. Patience is the key as they have stated all this in their press releases in the recent past. If we al on this sitel just buy 100 to 1000 shares on Monday and hld through the 29th to get the dividends. this will rocket to new heights. This is not a recommendation, simply my thoughts. Do your own due diligence.
3.Stop lending shares=pain for shorts = short squeeze
If all longs can stop lending shares at least I believe we can cause shorts to cover. There is no valid short narrative, both longs and shorts know this. Now it’s purely who can hold out longer. Shorts have been very active as of late trying to push share price lower and with many of us loaning shares out we are actually helping the shorts hurt us. I believe if we stopped lending out shares borrow rate skyrockets and that added cost combined with dividend and gradual upward movement will force shorts to cover. Granted news release can help but we don’t need news we just need to stop lending and wait and see.
4. Smoking Gun: Thursday dropped because shorts borrowed and sold 724K shares (with 2MM total volume) and 447K on Wednesday (with 1.3MM total volume). They're trying to drive price down, induce panic, get folks to sell, and buy back shares at a super low price.
https://preview.redd.it/hopdxkbt5f1d1.png?width=975&format=png&auto=webp&s=3945adf69a00addb0c2da4ea0c26b2a4de2749b3
5. Article showing RILY coming back https://www.investmentnews.com/broker-dealers/news/b-riley-bouncing-back-after-tough-winter-253448
6. Rily - Day 3 of short attactks - There's a positive
Our favorite shorts cohodes&co is on overdrive releasing as much fake accusations as possible, they now have been adding a lot to their position at a higher price point with shares in the 30s, now the shorts cost basis has gotten worse for them. With more shares at a worst cost with dividends coming due as well as borrow fees , shorts have less wiggle room especially if stock goes to 40 again. Now at 40 I believe they will be losing money. With insiders hopefully buying soon and the company continuing their share buy back program , that can lead to upward movement in share price leading to the “squeeze “.
7. $RILY Earnings Summary
Not financial advice.
It was an interesting investor call, an almost boring call which was refreshing. The company had a net loss of $51m driven by non-cash items including $29m unrealized loss on investments and a $30m fair value adjustment on their loans.
Cash flows were pretty good, with operating cash flows of $135m and adjusted operating EBITDA of $66m.
Targus and American Freight contributed nothing this quarter, both companies are historically strong businesses but have been working through a business cycle post-COVID after many Americans bought the things they needed. Those companies should improve in the next year.
The company previously announced a potential sale of Great American Group. Q-1 earnings for that segment increased to $35m of EBITDA, so at 10-12x a potential sale is looking like $350-$420m. On the call they said that is expected by early Q3. They also mentioned possibly looking at a sale in their Brands division later this year with the goal of retiring their discounted debt, citing it as an opportunity.
The short thesis crumbled last month with a clean 10-K and two internal investigations which added an additional $7m in expense but presumably were quite thorough and completely debunked claims by bears.
There are no shares available to borrow per Fintel:
https://preview.redd.it/ukhk0tou5f1d1.png?width=975&format=png&auto=webp&s=0622973216e0293d7f2699c1b6eee3216824305e
And short interest remains at approximately 65% with 9 million shares short, though the retail float is thought to be much smaller, maybe 2m shares.
The company has $34m available at quarter end for buybacks from a previously approved program.
I see value here, and I liked what I heard on the call.
8. Misconceptions - Rily Share Structure
[THIS POST IS FOR EDUCATIONAL PURPOSES ONLY] mumen_rida
There seems to be a lot of confusion about the company’s share structure and I would like to use this post to help not only my own understanding but also help others. It’s a bit confusing but let’s tackle it together.
I got this information from marketwatch: Total Float = 30 million shares Public float = 16 million shares Shares sold short = 9 million shares % of public float sold short = 56.38%
According to fintel: Institutional ownership = 14.18 million shares
So let me get this straight, there is 16 million shares in the public float and institutions own 89% of that (14.18 million shares). So that would mean retail investors collectively only have about 1.82 million shares to trade around amongst ourselves. Let’s call that retail float.
So, retail float = 1.82 million shares.
Let’s wrap up all the most important information (imo) regarding the current share structure and please correct me if any of the information I presented here today is false:
Total float = 30m
Public float = 16m
Shares short = 9m
Retail float = 1.82m
Where I think it gets the most interesting is when you divide shares short by retail float. 9/1.82= 4.95 or 495% of retail float.
Hope this helps clear up any confusion regarding the share structure.
REPSONSE TO THIS BELOW
EnvironmentalBreak48
•3d ago
THIS RESPONSE IS FOR EDUCATIONAL PURPOSES ONLY. NFA. Do your own DD, make your own decisions.
Based on OP calculation.
1. Total Float: About 30 million shares.
2. Public Float: 16 million shares.
3. Shares Sold Short: 9 million shares.
4. % of Public Float Sold Short: 56.38%.
5. Institutional Ownership: 14.18 million shares.
6. Retail Float: 1.82 million shares (calculated as Public Float - Institutional Ownership).
Given this information:

Understanding Short Interest

· Shares Sold Short: About 9 million shares.
· Retail Float: 1.82 million shares.
· Short Interest as a Percentage of Retail Float: 9 million shares/1.82 million shares≈495%
This high percentage indicates that the short interest is nearly five times the available retail float, which could lead to a short squeeze if investors hold onto their shares and/or demand increases.

Days to Cover (Short Interest Ratio)

The Days to Cover metric gives an estimate of how many days it would take for short sellers to cover their positions based on the average daily trading volume. Here’s how to calculate it:
1. Determine the average daily trading volume (ADTV): This information is usually available on financial websites like MarketWatch or Yahoo Finance. Let’s assume the ADTV is 1,000,000 shares (this is an example, you should use the actual ADTV for a more precise calculation).
2. Days to Cover: Shares Sold Short/ADTV
Using our example ADTV: Days to Cover=9,000,000 (short shares)/1,000,000(Avg. Daily Volume)=9 days Days to Cover

Potential Implications

· High Short Interest Ratio: A high Days to Cover ratio suggests it would take a significant amount of time for shorts to cover their positions, which can lead to increased volatility.
· Potential for a Short Squeeze: With a high percentage of the retail float sold short, if retail investors decided to hold their shares and the stock price rises, short sellers may be forced to buy back shares at higher prices, leading to a potential short squeeze.
· Limited Retail Float: With only 1.82 million shares available for retail trading, any significant buying pressure from institutional investors and/or retail investors it could quickly drive up the stock price.
9. Why Even the Joker Thinks You’d Be a _____ For Not Taking A Look at RILY Stock
Batman here. You might know me as the Dark Knight, the Caped Crusader, or the guy who really, really, really wants to own a spaceship. Today, straight from the Batcave, lets talk about something as exciting as racing the Batmobile or the return of Roaring Kitty—RILY stock.
First off, let’s talk numbers, because even a superhero knows the importance of a strong financial foundation. RILY has been buying back shares like Alfred buys Bat-gadgets—strategically and frequently. This move isn’t just a nifty trick; IMO it’s a signal that RILY is confident in its value. When a company buys back its own shares, it’s like Batman investing in more Batarangs—it’s a smart play that shows belief in future performance.
But that’s not all, folks. The recent buzz around RILY isn’t just cat signals in the sky—it’s grounded in solid developments. RILY had to work hard to file their 10K after all the mudslinging from the shorts, but got it done. The first big catalyst domino to fall.
Now, let’s get to the juicy part—earnings and dividends. RILY’s about to drop their Q1 earnings tomorrow, and you know what that means? Dividends! That’s right, folks. RILY is likely to declare a dividend, that our short friends will be paying. Dividends are like the Batmobile’s turbo boost—an extra kick that gets you excited and propels you forward. Plus, once they file their Q, a few days later insiders should be able to start buying again. Form 4s anyone?
Here’s where it gets really interesting: meme stocks are back with a vengeance, wow talk about a left jab, and shorts are on their heels. The RILY squeeze might start very soon or it might not, but with shorts potentially facing margin calls due to price movements in various holdings, and especially if they’ve been shorting RILY all the way down it has not been a good week for the shorts so far. Just look how RILY stock popped this morning on about 200k in volume.
To add insult to injury, to date, NONE of the short thesis has come to fruition or has been confirmed by independent information. They’re in quicksand, and it’s time to gas up the rocket. There are still several catalysts that may come into play here:
Q1 Earnings Release: Scheduled to be filed tomorrow, providing insights into the company's recent performance. The deal flow on their website was up YoY.
Dividend Announcements: Anticipated dividends right around the corner.
Insider Buying: Once the Q1 earnings are filed, insiders should be able to buy stock again, expect to see some Form 4s in very short order.
Sale of Great America Division: If RILY sales Great American, they have said the proceeds from this sale are expected to be used to reduce debt and fund further stock buybacks, potentially enhancing shareholder value.
Low Float: With a limited number of shares available for trading, increased demand can lead to significant price movements.
Buybacks: Ongoing buybacks can continue to support the stock price.
Meme Stock Momentum: With meme stocks making a comeback, there's increased interest and activity in stocks that are short and that could drive up RILY’s stock price.
Short Squeeze Potential: Low public float, company buybacks, insider buying…mix that up and you have the recipe for a potential squeeze.
Roaring Kitty's Return: The return of Roaring Kitty, a key figure in the meme stock movement, brings renewed attention and excitement to the stock market in general.
And, guess who just chimed in on RILY earlier today? That's right—JeffAmazon from the GameStop meme trade and Netflix documentary! He made a little tweet tweet on $RILY
Additional Catalysts: What do you all think…..
Stay vigilant, stay smart, and just my thoughts—do your own due diligence and make your own decisions. NFA.
10. FAKE ARTICLE BULLSHIT FUD…………
Well, IMO even Stevie Wonder can see that the latest article on FRG is just another hatchet job. IMO the problem with creating a narrative is that the facts can’t keep up, and boy, did they fall behind here.
RILY conducted not one, but two independent investigations and found zilch issues with its FRG investment or loans made to Kahn. And guess what? No connection with Prophecy either. FRG did their own investigation and also found no connection with Prophecy. So, to call the relationship between RILY and FRG controversial is like calling a puppy dangerous—laughable.
In RILY's 10k, they marked up their FRG investment FMV $281 million to $286 million…
FRG's FY23 financials are public, and the attached table shows the maturities of their debt. In 2024, about $10.5 million in debt is maturing. Big deal. Looming debt? Hardly. The real kicker is in 2026 when about $1.5 billion of debt matures—not this year, not next. LOL.
The FRG financials clearly state they were in full compliance with their debt covenants in FY23 and fully expect to be in compliance in FY24. Yet, "the people" say FRG is down double digits in Q1. Funny timing with RILY's Q1 financials coming out on Wednesday, huh? And by the way, FRG's adjusted EBITDA for Q1 FY23 was $66 million, not the $62 million the article claims. Why not use the actual FRG public company number? Maybe because when you're rushing to write a hit piece, you just pick random numbers.
https://www.globenewswire.com/en/news-release/2023/05/10/2665414/0/en/Franchise-Group-Inc-Announces-First-Quarter-Fiscal-Year-2023-Financial-Results.html
So, according to the article, FRG is down 63% in revenue ($66 million vs. the alleged $25 million).
Sure, FRG sold Badcock and Sylvan Learning, so they might be down YoY, but down 63%?
FRG sold in FY24 Q1 Sylvan for $185 Million cash….and they’re worried about paying $10.5 million in long term debt due this year. Got it.
https://www.franchisetimes.com/franchise_mergers_and_acquisitions/unleashed-brands-buys-sylvan-learning/article_a568813e-d4c7-11ee-bb32-1f85230cfdda.html
https://preview.redd.it/lry689p16f1d1.png?width=975&format=png&auto=webp&s=0714b3b378abb528f0abb470ade0deb3d34c2d39
•5 days ago
BleepBlimpBop
NT-10Q mirrors the press release about the 5-day delay on the 10Q. It's the formal document for the SEC. It also includes estimated earnings.
13F-HR lists their investment holdings as of 3/31.
"Estimated results of operations for the three months ended March 31, 2024 are summarized as follows:Cash and cash equivalents is expected to be approximately $191 million at March 31, 2024, a decrease of $41 million from $232 million at December 31, 2023. Total debt is expected to be approximately $2.19 billion, a decrease of approximately $170 million from $2.36 billion at December 31, 2023. This reflects the early redemption of approximately $115 million of senior notes during the three months ended March 31, 2024. Net loss available to common shareholders is expected to be approximately $51 million during the three months ended March 31, 2024 compared to net income available to common shareholders of $15 million in the prior year. The net loss is due to non-cash items which includes unrealized losses on investments and fair value adjustments on loans of approximately $59 million; in addition to incremental expenses of approximately $7 million incurred for professional fees relating to the filing of our 10-K and outside counsel review and subsequent independent investigation conducted as part of the previously disclosed investigation of the Audit Committee of the Company’s Board of Directors."
12. Friendly PSA: Manage your emotions
•5 days ago
BleepBlimpBop
I'm optimistic that the shorts' game will begin to fully unravel this week. This is a PSA to please manage your emotions, set your strategy intelligently, and don't get carried away by emotion.
For many longs, the past months have had a lot of negative emotion. Especially for long-time holders, who watched the full show:
· Initial short attacks
· Months of tailspin
· Months of trading sideways like an EKG
· A run up to $40
· A swift retrace -25%
· Endless vicious attacks on the company, its clients, its employees, its auditors, and on any individual who publicly states they see value in the company (including personal attacks on people on this sub)
Whether you got in years ago, and stayed for the growing business, fat dividends, and diversification...or got in last week because the short ratio is astronomical...
The recovery to fair value, whatever path it takes (squeeze, or gradual) will provoke a varied and wide range of emotions. The emotional component of investing is the hardest part.
Personally, I think it's a deep value play, and I'm not anxious to jump off the train. It's a company where insiders are huge owners, and their interests are truly aligned with shareholders. Because they're the biggest individual holders. The huge extra profit sharing dividends of 2021+ were impressive; this company rewards shareholders.
Please manage your emotions. Please invest intelligently. Please be nice to other nice people.
This isn't financial advice, but it is life advice. Manage your emotions, and make intelligent decisions.
13. RILY RS Article 76 to 83
https://www.investors.com/ibd-data-stories/b-riley-financial-shows-rising-price-performance-with-jump-to-83-rs-rating/
B. Riley Financial (RILY) saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 76 to 83.
IBD's proprietary rating tracks share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they begin their biggest climbs.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to form a base and break out.
The company showed 0% EPS growth last quarter. Revenue rose -9%. The company is expected to report its latest earnings and sales numbers on or around May 15.
The company earns the No. 24 rank among its peers in the Finance-Investment Banking/Brokers industry group. Interactive Brokers (IBKR), Piper Sandler (PIPR) and Ameriprise Financial (AMP) are among the top 5 highly rated stocks within the group.

14. Announcement of 2024 Annual Meeting June 21st
https://www.sec.gov/ix?doc=/Archives/edgadata/0001464790/000121390024041725/ea0205510-01.htm
15. Repost: $RILY DD: The real price potential...when the stock is a solid/growing company (not just a squeeze).
9 days ago
BleepBlimpBop
In response to multiple requests, reposting my DD on price potential from 2 months ago. Will hopefully facilitate intelligent thought about price potential.
--------
Many have been speculating about the squeeze price potential (75.72% of free float shorted per Fintel). Lots of posts discussing "how high" and "how soon." As others have observed, correctly, no one knows.
However, I think we can look at financials, and past price, to get a good indication of a reasonable range, after any "squeeze dust settles."
Let's recognize a few things:
A) It's a growing, and historically very profitable business. It's not GME (dying company with obsolete business model).
B) It rewards its shareholders with regular dividends, and large special dividends when profits are high.
C) It spent a year (early 2021 to early 2022) around $70/share. Plus or minus $20. High of $90.
D) July 2023 $100MM share offering was at $55, with lots of institutional interest, and lots of employee interest (7% of the new shares). It was only a small discount to the $60 stock price at the time (often, the offerings are at a much greater discount to induce institutions to invest).
· Institutions do their due diligence - they don't buy unless they think it's a good deal.
· Same with employees!
E) It didn't tank because their business model is obsolete (i.e., GME issue). It tanked because of:
· Short seller reports spewing fear, uncertainty, and doubt.
· Rampant flimsy speculation
· Poor earnings during a crappy time for investment banking (their main business), and some unfavorable mark-to-market of some of their investments.
· Note that RILY makes a business of supporting and investing in companies in distress. When they provide financial options, they also actively help the company right the business. That process takes time, so there's often interim volatility in the value of their assets. But their historical investment returns and recovery rates seem to be very good. Profitable, but can create volatility in the books as it plays out.
· Character assassinations.
F) From the looks of it, now that Reg Sho is in place, a concerted group using naked short selling, spoofing bid/ask, keeping a cash account to sell shares and manipulate low volume (all speculations, but notice the radical difference in how it trades now that there's regulator scrutiny and forced settlement - as well as observant people here and on Twitter calling out the egregious observable issues in the trading action)
G) It's continued to grow since 2021/2022 (look at the investor presentation in December). They've continued to disclose deal flow and make acquisitions since.
What does that all mean?
A) $70-90 would be a reasonable steady-state price if the shorts moved on, profitability returns to normal levels, and the company was the same size as 2021-2022.
B) Significantly higher than $70-90 would be a reasonable steady-state, given growth in the company, and a return to historical scale of profitability.
· You can also bet-your-bottom-dollar they're going to make sure their balance sheet is IRONCLAD go forward, and they do a better job of explaining their business.
· Management owns a huge chunk of the business, and they'll **never** want to be susceptible to this crap again.
C) A squeeze could have one of two impacts:
· Return the business to a reasonable steady-state price (e.g., $70-100+)
· Accelerate the company well above a steady-state price, where it could remain for an extended period, or return to a normal steady-state price.
D) A squeeze isn't necessary to return this to a steady-state price. Just time... Company executes, shorts pay high borrow fees, shorts hedged positions decay.
How do I think about it?
· I'd love to see the slightly-slower-road to steady-state.
· I'd love love to see the fast road back to steady-state.
· I'd love love love to see this thing shoot well beyond any reasonable steady-state, and bankrupt the most vocal short sellers. By all appearances, they rank among the more degenerate of their species.
· For those that sell early, they'll be sad watching from the sidelines. The road may not be linear, but I think it's paved with gold.
These are my thoughts. Not financial advice. To the moon, baby.
16. $RILY- “They can win by doing nothing
12 days ago
Outrageous_Appeal_89 “
Whitebrook capital assessment addressing cohodes&co BS at the peak of their false accusations and in a polite way stating short funds were making things up (misinformation & manipulation ). It seems $RILY is executing on some of the recommendations Whitebrook capital had - share buy back and bond buy back has been executed and continues to be executed on. Whether you invest in $RILY for the long term prospects or the short squeeze that can be triggered any day as lie after lie is exposed. Bottom line is the fair value of $RILY is a lot higher then where it currently trades. We will get a better idea whether share prices deserves to be in the 50s or 60s as we get an update on GAG valuation. Seems many here forget that $RILY creates value by turning companies around and then monetize, this process takes time , they have been able to do this successfully, repeatedly over the years.
https://preview.redd.it/uiisruq36f1d1.png?width=792&format=png&auto=webp&s=e6c32c04877ae21b51cb8a99cee0aef17cdb32c4
17. 3 Videos from Value Don’t Lie on Youtube talking about Financials of RILY and overall company valuation
https://www.youtube.com/watch?v=kRenvff8duE&t=1s
https://www.youtube.com/watch?v=EoaCZw7AmpA&t
https://www.youtube.com/watch?v=7_Ayoox3fvM
18. Getting around the NBBO and Longing the Box
So let this sink in… the market opens and in 5 minutes we rally to $34.42, then over the next 15 minutes we drop to $28.80 at which point SSR was triggered and sell volume slows WAY the hell down. That drop was ALL short sellers and NO longs selling shares (otherwise the sell-off wouldnt have stopped literally minutes after SSR triggered). NOW, what the scumbag shorts are doing is going Long Against The Box.
19. Steve Cohen and Point 72 buy 24,917 shares long on May 15th
https://preview.redd.it/fhdhyco46f1d1.png?width=975&format=png&auto=webp&s=6600f6a9a3f0bc5bc8823cddb5f52defdf282063
20. Summarize this earnings call and keep pertinent quotes and data in the summary.
https://filecache.investorroom.com/mr5ir_briley2/925/RILY_1Q24_Earnings_Release_vFINAL.pdf
Chat GPT Summary of the full report below
B. Riley Financial, Inc. (NASDAQ: RILY) reported its first-quarter 2024 financial results, showcasing resilience and operational strength despite facing challenging market conditions and unique internal events. Here's a summary with a positive outlook:

First Quarter

2024 Highlights:

1. Quarterly Dividend Declaration:

• B. Riley declared a quarterly dividend of $0.50 per share, reflecting the company's commitment to returning value to shareholders. The dividend will be paid on or about June 11, 2024, to shareholders of record as of May 27, 2024.

2. Operational Performance:

• Despite reporting a net loss of $51 million, the company's core operating businesses demonstrated solid performance. This loss was primarily due to non-cash, unrealized investment losses.
• Total revenues for the quarter were $343 million. Operating revenues, excluding investment-related impacts, were $379 million, showcasing the underlying strength of the company's operations.

3. Strategic Debt Management:

• B. Riley successfully retired $115 million of its 6.75% 2024 Senior Notes and repaid $57 million of bank debt facilities and notes payable. This strategic move highlights the company's focus on strengthening its balance sheet and reducing interest expenses.

4. Cash and Investments:

• As of March 31, 2024, the company had total cash and cash equivalents of $191 million and total cash and investments of $1.61 billion, providing a robust liquidity position to support ongoing operations and future investments.

5. Segment Performance:

• B. Riley Advisory Services: Delivered its strongest first-quarter results in the firm's history, driven by increased demand for appraisals, bankruptcy restructuring, litigation consulting, and real estate services.
• B. Riley Securities: Benefited from a steady dealmaking environment, generating higher fee income despite a decrease in overall capital markets segment revenues.
• Wealth Management: Continued to improve operating margins and managed $25.8 billion in assets by quarter-end.
• Communications: Provided steady cash flow, contributing to the platform's stability.
• Consumer Products (Targus): While facing macro headwinds in the PC market, Targus remains a leader in its sector, poised for growth as the market stabilizes.

Leadership Insights:

• Bryant Riley, Chairman and Co-CEO, emphasized the company's operational stability and strategic focus amidst challenging conditions. The firm's resilience is attributed to the dedication of its employees and robust core business performance.
• Tom Kelleher, Co-CEO, highlighted the impressive performance of B. Riley Advisory Services and the steady contributions from B. Riley Securities and Wealth Management. He expressed optimism about Targus's potential recovery and the company's strategic investments.

Looking Ahead:

B. Riley's strategic initiatives, such as debt reduction and selective investments, position the company for continued success. The ongoing strategic review of its Great American Group retail liquidation and appraisal businesses indicates a proactive approach to optimizing its portfolio. The firm remains committed to delivering value to its shareholders through dividends and operational excellence.
In summary, B. Riley Financial's first-quarter 2024 results underscore its strong operational foundation and strategic foresight, positioning it well for future growth and shareholder value creation.
20. State of the Stock
15 days ago
UF_Secret_Account
Not financial advice, do your own research. Don't take advice from the internet, consult a professional financial advisor.
On April 19th, the stock closed at $19.99. Today, it is over 50% higher after a positive 10-K clearing the company of fraud allegations.
The stock touched $40 on April 26 and 29, a 100% gain from a week prior.
The short interest has remained relatively consistent during the move, with 10-11 million shares still short. However, given the time lapsed, I think it's safe to assume that most of those shares were covered and re-shorted in the last two weeks. For future research, we should assume they have an average $35 entry on their short positions.
1st quarter earnings are coming soon. Like many of you, I am a little curious that it hasn't been announced yet, but I have no concerns with everything the company has on its plate. 10-Q's are unaudited and it's very unlikely there is anything to be concerned about, in my opinion.
The company could be coming to the end of their strategic review for GAG. That will eventually result in some additional financial statement adjustments for presentation.
I would expect 1st quarter earnings to be good based on their deal flow and reported transactions.
In November 2023, the board approved $50m for stock buybacks. The company repurchased 728,330 shares at an average price of $21.85, but mainly bought shares in November. That's $16 million spent, and means the company had $34 million approved to buy back stock at year end. The program continues through October 2024. At our current price, that would be 1.1 million shares (3.3% of the outstanding stock).
That is significant for a stock with this many outstanding shares, but more significant for the number of freely traded shares which is far less. How many times have we seen huge price moves on small blocks of shares? If the company adds $10-15 million to that program, that's another 300,000-500,000 shares. Again, it doesn't sound like a huge number but it would add pressure to what will become a dire situation for the shorts.
The shorts may decide not to cover, or to continue the strategy of taking their losses and re-shorting, but their ability to influence the stock back to a level where they truly profit is nonexistent in my opinion, particularly when volume dies between market-moving events.
I am eyeing the $50-$55 range as my price target in the next move up.
21. NOTE on FRG Independent Auditor’s Report
One of the positive things I see IMO was for the billion dollar loan that matures in 2026. “On July 2, 2021, the Company repaid $182.1 million of principal of the First Lien Term Loan using cash proceeds from the sale of the Liberty Tax business. The prepayment also satisfied the requirements for the quarterly principal payments so no additional principal payments with respect to the First Lien Term Loans (excluding the Incremental First Lien Term Loan) are due until the First Lien Term Loan maturity date.” To me this gives them some flexibility for their cash as there isn’t much long term debt due in 2024 or 2025.
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22. on May 3rd Cohodes or someone else got media to report 4th quarter from last year as q1 earnings this year. Which was a lie and FUD
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23. B. Riley Financial Announces Full Redemption of 6.75% SR Notes Due 2024
17 days ago Wolfiger
LOS ANGELES, May 1, 2024 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today announced that it has called for the full redemption equal to $25,000,000 aggregate principal amount of its 6.75% Senior Notes due 2024 (the "Notes") on May 31, 2024 (the "Redemption Date").
The redemption price is equal to 100% of the aggregate principal amount, plus any accrued and unpaid interest up to, but excluding, the Redemption Date, as set forth in each notice of redemption delivered to noteholders on May 1, 2024.
https://ir.brileyfin.com/2024-05-01-B-Riley-Financial-Announces-Full-Redemption-of-6-75-Senior-Notes-due-2024
24. 8k filed May 1st for Nasdaq Compliance
25. Found management bonus if above 136 by October. Did anybody else know that a part of managements comp was in the form of Performance-based Restricted Stocks Units with a vesting date of 10/27/24 AND A HURDLE PRICE OF $135?!?
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new revision method dropped

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“We must all hang together or we shall all hang separately.”
Thus quipped Benjamin Franklin as the American colonies joined against the tyranny of George III, the phrase hangs heavy in the imaginations of today’s political opposition. Laden with fears of violence, Chairman Osro Cobb of the Progressive-Federalist National Committee announced the cancellation of the party’s presidential primaries and the formal acquiescence of the party to the Committee for the Preservation of the Republic’s call for a joint presidential nominating convention with the American Liberty League. Yet, with the organization’s President Thomas Schall, once seen as the nearly prohibitive favorite for the nomination, dying in an unforeseen car accident and populist contender Eduardo Chibas taking his own life on live radio, the attempt to unite the opposition must find a candidate able to carry both banners in the face of Philip La Follette’s campaign for a third term.
Clare Boothe Luce speaking against the President's support for a moderate socialist government in Indonesia.
Leading Candidates:
The following candidates are seen as frontrunners for the nomination.
Clare Boothe Luce: 49 year old Clare Boothe Luce of Connecticut rose to prominence as Henry Luce’s scandal-ridden yet massively popular First Lady, whose charisma would lead to a popular joke that every Luce voter wished they had voted for Clare despite widely known allegations of mutual marital infidelity. Marrying Henry after divorcing her first husband and entering high society as the author of an all-female play, Luce would become First Lady at the young age of 38 and soon emerge as a face of the American home front amidst the Third Pacific War. Describing the nation as having become a “dictatorial bumbledom,” Luce has echoed the anti-New State ethos of the party and is seen as the candidate of establishment conservatives. Criticizing the very slogan of President La Follette, she has argued that the United States cannot “win the peace” as it has not truly won the war until the defeat of international communism. Clare has supported the Zionist project in Alaska, a unified military command to replace the Department of Peace, and the creation of a defense pact among American allies in the Pacific as the centerpiece of an aggressively interventionist foreign policy declaring “if we are no longer willing to fight for it, our Christian democracy is finished." Yet, Luce has also opposed the creation of a stronger international United Nations to replace the powerless Parliament of Nations.
Driven to Catholicism in 1946 following the death of her daughter, even as her ex-president husband gallivanted about with a girlfriend a thousand miles from his wife’s baptism, Luce has emerged as a changed woman, reportedly abandoning her affairs and entering a career in electoral politics with her 1946 election to the Senate. Though Aaron Burr Houston maintained a private devotion to the Church of Rome, Clare has taken her faith with a zeal heretofore unseen in American politics, using the Senate as a pulpit to preach against “materialism” and a spiritual decline as the root of both communism and fascism, slyly suggesting that the rise of the Pentecostal, Immannuelite, and Mormon faiths has come hand-in-hand with the nation’s fascist surge as she has publicly wished that “the whole world would be Catholic.” Despite defenses from Presbyterian former President Luce, Clare’s faith has weakened her amongst convention delegates fearing the alienation of firmly Protestant voters. Yet her charm, wealth, and ability to attract millions in funding from backers such as Henry Ford II while winning key endorsements such as that of Richard Nixon has catapulted her to the front of the field.
A candid photo of the nation's leading Texan with a fried chicken dinner. Had you asked an observer in 1940 whether Pappy O'Daniel might one day be President the answer would almost certainly be yes, yet many wonder whether the dynamic country singer has waited past his turn.
W. Lee O’Daniel: 62 year old Senator W. Lee O’Daniel, better known as Pappy, rose to prominence in his late 20s as an architect of domestic policy during Aaron Burr Houston’s third term, being largely credited with the introduction of an old age pension system funded by a consumption tax. After making his way to the fore of Texas politics on his own through the integration of musical numbers and a widely popular radio show with his political antics, O’Daniel would turn from an upset gubernatorial defeat in the 1938 midterms to organizing Aaron Burr Houston’s campaign for a fourth term in the White House as the nation’s last hope against Charles Lindbergh. Accused by critics of puppeteering a dementia ridden 86 year old out of his own lust for power, O’Daniel would serve as Secretary of the Treasury for a year before being unceremoniously removed from the cabinet by Henry Luce for his critique of the American attack on Pearl Harbor and opposition to the draft, leaving him in political isolation as the Texan distinguished himself by demanding the execution of striking laborers as crucial to the war effort over his radio show.
A steadfast isolationist, O’Daniel’s foreign policy views have made him a favorite among Liberty League libertarians. Depicting himself as nearly as conservative as Luce on domestic issues with an isolationist foreign policy able to appeal to the Midwest, O’Daniel has emphasized ties to the legendary ABH and anti-alcohol views he claims can over the rural South. O’Daniel has also sought to use Luce’s Catholicism into an issue, seeking the support of Ben Gitlow through their shared membership in the Evangelical Christian Right. Yet, O’Daniel has been seen as the least committed among the candidates to the Committee’s pro-democracy ideals, while others question his fitness for office based on his eccentric manners as a cabinet Secretary and Senator, with Eleanor B. Roosevelt’s 1936 running mate Dan Moody remarking that “Pappy is as lost at the Treasury as I would be in a circus trapeze.”
Lucius D. Clay as an Administrator during the post-war occupation of Korea.
Lucius D. Clay: A distant relative of former President Henry Clay, 54 year old General of the Army turned banker Lucius D. Clay of Georgia has been the subject of a draft movement seeking to secure a candidate with the allure of a war hero after an attack on right wing generals such as Harold George, “some of whom are my own classmates,” accusing them of leading the party astray with the nomination of the ultra-conservative Benjamin Gitlow. Clay has portrayed himself as the candidate of order, supporting, as the others do, the prosecution of Blackshirts and the freeing of prosecuted opposition politicians. However, Clay, a former administrator of Lindbergh-era public works programs, is the only candidate to stop short of supporting the abolition of the New State, with backers instead focusing on the renowned administrative talent that led Douglas MacArthur to quip that Clay “could run General Motors or General Bradley’s army.” Despite his reticence to campaign at the convention, Clay’s moderation, vague platform, connections, and war hero status have won over a significant segment of delegates.
John Sampson Cooper on the cover of Henry Luce's Time magazine.
John Sampson Cooper: Named for martyred Admiral William T. Sampson not long after the First Pacific War dramatically ended with the Second Battle of Hawai’i, 50 year old Kentucky Senator John Sampson Cooper has led an underdog campaign of moderate liberals led by young activists Mark Hatfield and Chuck Mathias and Tannenbaum territorial delegate Jacob Javits. Returning home from Yale to find his father on his deathbed and his beloved Pulaski County burned to the ground amidst the Revolution, Cooper would be elected to county leadership at age 24, famously responding to a legal requirement that he evict the impoverished by personally paying their debts, earning the moniker “the poor man’s judge” as he emerged as a major figure in post-Revolutionary reconciliation in Kentucky. Returning home once more from service as a military attache in the Third Pacific War, Cooper would oust incumbent Farmer-Laborite Jerry Spencer in a 1944 upset, delaying taking his seat to serve as a legal advisor to hundreds of thousands of displaced Indonesians before emerging as a Senate leader in bringing the United States closer to India and other nations newly liberated from colonialism.
While eschewing the isolationism of O’Daniel, Cooper has demonstrated a far more relaxed stand on foreign policy than Luce, opposing aggressive anti-communism abroad while depicting the United States as a great mediator of peace in situations such as the violence in Palestine or partition of India. The reported favorite of Fulgencio Batista despite Cooper’s criticism of Batista as insufficiently committed to democracy, the Kentuckian has managed to maintain a widespread popularity with labor that has led many to speculate that Cooper would be the only candidate able to win the endorsement of organized labor and an imprisoned John L. Lewis. Lacking the celebrity draw of Senator Luce, Cooper has countered with a far more detailed platform, calling for the opening of American borders to the world’s refugees, massively increased federal aid to education, and, in stances that have left him anathema to many party conservatives, support for universal health insurance, coal subsidies, and public housing. A self admitted “truly terrible public speaker," Cooper’s political independence has won him the support of Will Rogers Jr. and made him a favorite of the modern liberal wing of the Liberty League.
Luis A. Ferre's El Dia newspaper, later renamed El Nuevo Dia.
Other Candidates:
The following are seen as major contenders for the nomination, but lag behind the frontrunner candidates.
Luis A. Ferre: Among the most grim results of the 1948 elections emerged from the Caribbean, where states once considered the most loyally anti-Farmer-Labor in America crossed the aisle for the first time in history. With strategists seeing the path to the presidency running through the island states, many among the electorally minded have flocked to 48 year old Puerto Rico Senator Luis A. Ferre, publisher of the nation’s largest Spanish language newspaper, El Nuevo Dia. A classically trained pianist who has focused his senatorial career on securing funding for the arts, Ferre has referred to the United States as the “moral summit of the world,” while aligning himself in the middle on economic policy, calling for “addressing the inequalities of society” by selling off public land at a low price and supporting federal public housing with an emphasis on rural revitalization, in addition to a call for a 4% Christmas bonus on the grounds of the Jesus Amendment.
James A. Rhodes: "Every time I take a position on an issue, I lose two percent of the people. If I do that 50 times, I have everybody mad at me," the quip encapsulates the philosophy of 43 year old Ohio Governor James A. “Jim” Rhodes and his backers. Emerging as the favorite of many convention delegates who have argued that the best path forward for a united campaign is a steadfast focus on bread and butter issues, Rhodes has remarked that “there are only three issues in this campaign: jobs, jobs, and jobs,” and has argued that to win the power necessary to destroy the New State and its legacies, any anti-La Follette campaign must focus on people’s lives and the economy, not vague notions of democracy and American ideals. Born in the hills of Appalachia, Rhodes would be forced out of college after failing every class, only to work his way into the Mayoralty of Columbus, before unexpectedly catapulting himself to the Ohio Governorship before the age of 40, where he has governed with a moderate conservatism focused on local issues such as water rights and a program to "put a college education within 25 miles of every boy and girl” that has been praised as a national model.
The King of Country.
Write-In Candidates:
The following candidates can win the nomination, but are either presently supporting other candidates and thus only subject to draft movements rather than an active campaign or lack adequate first ballot support.
Roy Acuff: 49 year old Roy Acuff of Tennessee was christened “The King of Country Music” for smash hits such as Wabash Cannonball, leading fellow musician Hank Williams to quip “book him and you don’t worry about crowds…for drawing power in the South, it’s Roy Acuff, then God.” Yet, after a rumor that Governor Buford Elington had labeled his music “disgraceful,” Acuff would embrace the label “king of the Hillbillies” in the 1948 election cycle to trade his acoustic throne for the Governor’s chair. Declaring that “any business must be put on a business plan, and so must a state government,” Acuff has cut the budget while requiring the Ten Commandments to be posted in government buildings, increasing state pensions, instituting a free school textbook program, cooperating with the La Follette Administration on the hydroelectric Tennessee Valley Authority, and has controversially called for additional restrictions on firearm ownership. Widely considered a possible frontrunner for his celebrity status if a primary were to have been held, Acuff has supported O’Daniel at the convention, yet has evasively refused to disavow a draft movement arising from his pro-union sympathies that many suspect could bring Fulgencio Batista into the fold alongside John L. Lewis, Jimmy Hoffa, and the opposition Farmer-Laborites.
Joseph H. Jackson: A Mississippi farm boy who taught himself reading and mathematics, 52 year old Joseph H. Jackson, President of the largest predominantly black church in America, the American Baptist Convention, has emerged as the favorite of former Gitlow ally Billy J. Hargis for his right-wing populist views and claim to be able to win millions of black voters back from President La Follette. Calling to “save the nation, in order to save the individual citizen, and the race," Jackson has focused his attacks on La Follette for violating “civil order,” and extended this critique to opposition protests. Making the radical proposal to not merely denationalize the General Trades Union, but to destroy it entirely, Jackson has called for the severing of diplomatic recognition to all communist nations and international intervention to spread “the liberating power of our federal constitution and the supreme law of the land, the American ideals of freedom and democracy.” However, Jackson has fallen from major candidate status after an investigation by the Labor Department into allegedly abusing unpaid labor at a daycare and using church donations to buy himself a mansion and a sports car.
America's chief penny pincher speaks.
Henry S. Breckinridge: The only member of the Liberty League at the fore of presidential consideration, 66 year old New York Congressman Henry Skillman Breckinridge ran alongside Al Capone in 1936 in the campaign that doomed the Commonwealth alliance, but has reinvented his career since by working to ally Federalist and Liberty League causes against La Follette and serving as the organization’s House leader. Advocating a heavily internationalist vision in line somewhere between that of Cooper and Luce, Breckinridge’s commitment to small government classical liberalism and a strict construction of the constitution has made him the favorite of Liberty League loyalists and some party conservatives. However, it is considered unlikely for a Liberty League member to win outright due to Progressive-Federalists comprising a majority of convention delegates.
Eleanor Butler Roosevelt: 63 year old former President Eleanor Butler Roosevelt was promoted for the nomination for months by her former counsel turned the “voice of impeachment,” Richard Nixon, who has noted that her re-election would have stopped the rise of fascism in its tracks. However, content with retirement, the writing of her memoirs, and the promotion of Nixon’s career, Roosevelt has categorically refused to seek the presidency. Nonetheless, she is expected to receive votes on the convention’s opening ballot from admirers.
Benjamin Muse: 54 year old former Virginia Governor Benjamin Muse won an upset victory in 1945 to be elected Governor against the campaigning of President La Follette. An establishment Federalist and charismatic writer, Muse received significant support as a candidate but has declined to contest the convention and worked to promote the nomination of Clare Boothe Luce after a meeting with Henry Luce.
H.R. Gross: 53 year old Iowa Governor and 1948 Progressive vice presidential nominee Harold Royce Gross has gained renown for his steadfast economic conservatism, vetoing every proposed state budget increase throughout his tenure and calling for a complete end to foreign aid in addition to the dismantling of the New State; avoiding moral arguments, Gross has opposed atomic bombings and war on the grounds that both are too financially costly. A hero of the party right, Gross has declined to seek the presidency himself, citing his refusal to attend fundraising parties rather than watch Iowa football games, and is expected to support Pappy O’Daniel or Jim Rhodes on the convention floor.
46 year old Samuel Ichiye Hayakawa has been elected interim Chairman of the Convention.
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Leading with the good news, the final title has been decided on!
I originally was going to name it Not Another Dino Dating Sim because I thought the acronym "NADDS" was funny, but with all these other games folks are making I thought I should have something that stands out a little more, so from here on Al and Carolyn will be starring in:
First pass Logo
As for the game itself, I've found myself running into a slight snag.
I sent out a few posts on different platforms a while back asking for volunteers to join the project as I had greatly underestimated the work I was subjecting myself to, but I only brought on a handful of people considering this is the first time I've found myself leading any sort of team, as a result I ended up bringing only three extra artists on board.
This was a mistake as once I laid out the different ideas I had for cgs I found that 6 out of the 15 chapters will end up having cgs, and this is before taking into account the endings. With multiple team members taking on multiple projects at once and still having the script and coding to take care of myself, I don't see development progressing as fast as I'd like.
So I am once again coming to you all asking for artist volunteers to help me give Carolyn and Al the stage they need to tell their story. If you're interested in joining the team feel free to shoot me a dm, I'll be sure to respond as soon as possible.
All the positivity y'all have been giving my little dino game has done absolute wonders for my motivation to continue this project, and I cannot thank any of you enough. I hope to have a mostly-polished demo out for y'all to experience by august at the absolute latest. Stay Tuned Snootbros