Also in the event of a "363 Asset-sale" the secured lenders are only entitled to collateral($19M). The relief canyon is a lucrative mine and serious profits have been made in the past. In the event of a sale(possible bidding War) the mine will most likely be sold for alot more then $19M & share-holders will realize value.
MR. HARRIS: Your Honor, we have approximately 40, 50-million-dollar NOL that we want to preserve, and there is benefit for the creditors as far as money -- THE COURT: So, you’re going to use their net operating losses? MR. HARRIS: No, no. We’re going to -- we’re going to merge -- our goal is to merge with Dura Rock or have Dura Rock acquire us or we’ll acquire Dura Rock, which will then infuse -- THE COURT: The successor gets to utilize the NOL’s. MR. HARRIS: Right. And then we’ll have some infusion of monies so we can -- you know, the goal is to pay the employee wage claims, to issue stock to the other accounts payable creditors, and to have something in it for shareholders if the code allows for it.
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