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whoever buying this won't get the chance for the cash and new wamu stock i believe....$6M "market cap" sure is a hefty price on a lottery ticket, imo! thought for sure this thing would be a penny after people lost the chance to receive the opt-in distribution.
i thought that was just for wamuq/the preferreds for wamu, but could be wrong...
This ticker looks familiar----has awesompennystocks promoted this before??
Ok, thanks....yes, it will be interesting to see what the new equity trades at valuation wise; i.e. at what value those NOLs are valued at initially.
what about a bunch of small 51/49% acquisitions bundled up though?
A lot of companies would be willing to "merge" into a shell in order to pay no taxes at all = higher valuation, more money to distribute to shareholders, etc. as long as they had control/power in the new entity.
WOW!! I was told by one of the lawyers involved $2.5B+ nowhere near that ballpark. $6B is huge!!
FINAL NOLss? Does anyone know how much the net operating losses the reorganized company will start with?
DOES ANYONE KNOW THE FINAL, ACTUAL VALUE OF THE NET OPERATING LOSS CARRYFORWARDS? TIA!
"So I added the $ 888 M to the $ 3.2 M = $ 4.1 M (approx.)"
how do you add $888M to $3.2M to get $4.1M? Did you mean $888,000?
And right now, the claim 12 value is worth $5.8M; if there is an additional $888,000 as you posted above, then it would be worth $4.9M. You forgot to add the value of the claim 12 to the value of the new equity. You used the $190M value for the newco equity, which I could debate is too low, but either way its about .037 in value newco equity and then the class 12 claim which as it stands now is worth about .05; .05 + .037 = .087 in value per DIMEQ. I will be shocked if DIMEQ's payouts don't end up being closer to .11 a few months down the road after the newco is trading.
The key value determinant in the newco is how much in loss carryforwards they have----does anyone have the final value? I have heard $2.5B+ in NOLs.
"an Allowed General Unsecured Claim (as such term is defined in the Seventh Amended
Plan) in Class 12 in the aggregate amount of Nine Million Dollars ($9,000,000.00) (the
“Allowed General Unsecured Portion”); provided, however, that the Fees and Expenses,
to the extent allowed pursuant to an order of the Bankruptcy Court, upon notice and
hearing, shall be paid from the initial distributions to be made to LTW Holders with
respect to the Allowed General Unsecured Portion; and, provided, further, that, to the
extent the Fees and Expenses are equal to or less than Three Million Two Hundred
Thousand Dollars ($3,200,000.00), the Debtors and the Creditors’ Committee shall not
oppose any such application;"
Its actually $5.8M in class 12, $10m in (worthless barring a miracle) class 18 and then 8.77% of the common stocks' portion of the newco---which I hear is now 25% of newco, so 8.77% X 25% = .02195 of the new company, which is what I had posted.
http://www.kccllc.net/documents/0812229/0812229120115000000000002.pdf
i thought it was ~$5M(after paying legal expenses)cash + ~8.77% of the cut of the common shareholders' cut in the newco(which was slated to be 30%, now appears to be 25%), which equals about 2.2% of the newco
.0877X.25=.021925
BTW, the WAMUQ board is saying that equity holders are now getting 25% of the new company vs. 30%, as TPS has agreed to drop their complaints. Unfortunately that dilutes what we get.
5.77% of common equity? where did you get that figure?
We still get ~$5M in cash and then the equity, correct? This is just giving you an option to convert that portion of the $5M in cash into either notes or equity is how I understood it after talking with my broker.... agreed??
Hi Fio and all, what time does the hearing start? Any ideas on when it will completed, i.e. we'll know whether the plan is confirmed or not?
Thanks for your help!!
Hi Remmy,
One situation I've contemplated...
What if someone buys DIMEQ say three weeks from now and holds them until they expire----but they were perhaps too late to vote----do they get nothing? Is it past the cut off date to buy and vote to accept the proposed distribution to DIMEQ?
I guess this is weird because there's no "ex-dividend" date and to get newco, you have to vote to accept the plan. I unfortunately could see people who buy in the last few days of DIMEQ trading ending up with nothing?? I.e. essentially as of what date did/do you have to be a DIMEQ holder of record to have the right to vote and receive newco shares?
Hi philip,
Sorry I've quite busy this week and unable to follow up on all the posts. Do you mind expanding on where things are now? As I understood it, the 2/1 hearing was to hear objections, which it sounds like the judge didn't accept, so we either take the deal proposed to us, or vote against it at the risk of receiving nothing, correct?
Thanks for your help!
Hi Muga, Thanks for the response. I called them at like 530 eastern on Friday and they said I'd have to check back with them Monday a.m. as their stock transfer dept. had already closed, so they were unsure if they would be able to do it.
Have you transferred certs. on a penny into them before?
OT: thanks for the PM!
HELP PLEASE!WITH PENNY STOCK PHYSICAL CERTIFICATES:
Since this board trades a ton of penny stocks, do you know any brokerages who will accept physical stock certificates and trade them?
Ameritrade, E*Trade, Scottrade etc. won't accept them....does anyone know who will?? I have unrestricted stock in an OTCQB stock that I want to sell and no broker will take it :(
Thanks!!
Matt
HELP PLEASE!WITH PENNY STOCK PHYSICAL CERTIFICATES:
Since this board trades a ton of penny stocks, do you know any brokerages who will accept physical stock certificates and trade them?
Ameritrade, E*Trade, Scottrade etc. won't accept them....does anyone know who will?? I have unrestricted stock in an OTCQB stock that I want to sell and no broker will take it :(
Thanks!!
Matt
Anyone else buy into IVOB on Friday? I bought at an avg. in the mid .02s----not sure if its a penny thats going to go for a multi-bagger or one where its going to drift back down on low volume. Any thoughts would be appreciated!
i spoke with him too....if we make an objection and lose though, we are left with being treated just as common stock, and the value for DIMEQ is probably less than .01, correct???
You guys can call Art. He will talk to you and explain the settlement was better than being treated as equity. Also, no one wanted to step up and fund future legal fees so he said he took the best deal he could make.
any update on when they are going to file their financials?
won't newco get to carry forward those $2.5B in NOLs? I think that's where the value is understated...everyone is valuing the newco at less than $200M, but it could be worth well north of $400M; value the NOLs at 10 cents on the dollar for a merger/acquisition candidate and then $150M for the operating company. Not a huge help to DIMEQ, but its better than what I thought DIMEQ would get when told its equity equivalent. Either way its a damned shame it ended up this way.
ok, thanks!!
fair value for the 30% equity portion of the newco...what are some fair values?
If you add up WAMKQ, WAMUQ, and WAMPQ's current market cap you get 145M. That seems waaaaayyyy too high as its value the whole new company at $483M. 145m = 30% so 100% = 483.3M
Thoughts?
are there for sure 114M "shares" of DIMEQ out there?
i'm new here and its clear no one knows but the cash portion due is $9M, but not sure if we have to pay lawyers fees and expenses out of that, then there is a $10m class 18 claim which is worthless and then about 2.61% of the new company's common stock coming.
so class 18s are worthless but could receive a future payout dependent on what??? tia.
how many dimeq are outstanding? thanks!
how many shares/warrants are there outstanding? i.e. at .09 what is the total value of all of DIMEQ?
Thanks!
i also called them and they said they don't give out O/S totals anymore.
already did weeks ago with no response
The CEO says the O/S is still ~340M----why the discrepancy?
I should be the 800th! It said 799 followers and I just clicked add to favorites but it hasn't updated yet.
Hey bro! long time!! this caught my eye and I've been loading up on BOCX in the .044s(didn't see it until then but oh well). Hoping it has a hard run here EOD and sees .06 or .07 tomorrow. What do you think?
DID NO ONE ELSE READ THE NEWS OUT TODAY? Laywers don't have any dibbs on the $205M!! if you read the court's decision, the judge sounded quite affirmitive/gave little room for doubt. JMO!! Hopefully this screams tomorrow!