Imax- Filing your financial statements is good for your stock price

Imax (IMAX) files restated financials for 2002-2005 and finally files it 2006 10-K and 2007 First Quarter 10-Q.

Results in the first quarter were slightly less dismal than expected. Stock price responds with nearly 10% gain. On the conference call Imax emphasized the prior 3 strong movie releases- 300, Spiderman, and Harry Potter. They also outlined some of the conversion to digital plans.

Bottom line, Imax has a great technology that continues to provide a meaningful boost for blockbuster type movies. They need to figure out how to make this work for them financially.

Notably over 17% of the float is short. 100 oz. Silver bars

Disclosure: I am long IMAX.