WAMPQs are the best deal right now.
I was doing some calculations this morning. Based on yesterday's closing prices (and today's current prices, for that matter), the WAMPQs are the best deal. These are the numbers I used under a scenario of purchasing shares with $1000 at last night's closing prices and POR7:
TOTAL 200,000,000 shares in the reorganized company
PREFERREDS are getting 70% of the company (140,000,000 shares)
COMMONS are getting 30% of the company (60,000,000 shares)
Assume you were spending $1000 to purchase at yesterday's closing prices.
WAMUQ = $0.073
1.7 billion shares
WAMPQ = $26.50
3 million shares
WAMKQ = $1.00
20,000,000 shares
REITS = ?, however, Total Preferreds Value = $7.5 billion
BEST VALUE IN ORDER
WAMPQ
owns 40% of 70% preferred allotment (28% of new company)
40% of 140,000,000 = 56,000,000 shares
56,000,000 / 3,000,000 = conversion rate of 18.5 shares
$1000 / $26.5 = 37.5 shares at yesterday's close
37.5 * 18.5 shares = 694 reorganized shares
WAMUQ
owns 30% of the new company = 60,000,000 shares
60,000,000 / 1,700,000,000 = conversion rate of 0.035 shares
$1000 buys you 13,698.5 shares
13,698.5 * 0.035 = 489 reorganized shares
WAMKQ
owns 6.5% of 70% preferred allotment (4.5% of new company)
6.5% of 140,000,000 = 9,100,000 shares
9,100,000 / 20,000,000 = conversion rate of 0.45 shares
$1000 buys you 1000 shares
1000 * 0.45 = 450 reorganized shares
(I rounded all numbers to the nearest half percent with the exception of WAMUQ conversion rate, so these are not exact. Someone please check my math!!)
