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Sweeeeet! I love these numbers. Thank you for the DD Toogoodfella!
personally I only hold 600k common shares - but if the math is correct the $24.48B left over for the 689M common shares = $34 per share. can that be anywhere near a likely to happen? I was hoping for $1 - $3 per share.
Cheers and have a great weekend.
Hi Speakhim,
Is this healfast product identical to actipatch in the wiring system and electrical output?
cheers
Thank you Pegaso for the LEH Aurora update. Have a great weekend.
Good Morning Team Lehman,
What ever happened to that Colorado bank (Aurora?)that LEH owned?
Does that play into anything we are waiting on, or does it help later?
cheers all
we have a patch for that...
http://www.suntimes.com/13055608-419/ill-have-another-pulls-out-of-the-belmont.html
Hi Rich,
I heard that it's bratwurst day in the FDA cafeteria so the honorable Senator Mikulski decided that tomorrow is a good day to kick a little FDA butt...and feed her own!
cheers all
good open dialogue today guys...Didn't they basically RS the common and preferred shares when they cancelled them and created one big share and placed it in the Plan Trust?
Cheers
you forgot to mention that the products and technology are patented and they actually work extremely well...
It's not a scam company - I have personally visited the HQ 3 times and each time met with the CEO for 45+ minutes. I was just checking in on my INVESTMENT!
Andy is not a liar - just overzealous with his statements sometimes - we are all guilty of that...I know I am.
The stock may not be $.20 by the summer, but many believe it will be at the very least .50 - $1.00 someday.
Cheers and GLTA
Thanks Cotton, I'll submit to your expertise on this. what would be the reason why classes 10 A,B,& C would not be given the ability to vote on the POR - given the overall size of this class? from your example it appears CT class 10 AB&C is as valuable as Racers trust...
cheers
Hi Cottonisking,
If you wouldn't mind on your next revision (1.2), in addition to your racers trust math, please include LEHMQ commons (I realize it's not much). Due to the terrific info and smart folks, this board imo has become the defacto board for all good Lehman updates and relevant info. Your posts are one great example.
I know I would deeply appreciate it and I'm sure others would as well. Can't forget us common folk! we're rooting for all classes to be paid in full so that we get a little off the bone as well.
Thanks in advance for your consideration.
cheers,
Jim
Hi Simpsonly,
The alias was something like "stockrock" or something like that.
Cheers!
I hear ya. It's just that I really like this board. So many great submissions from smart folks that have great contributions to the intelligent conversation.
The pharma-mafia is hiring these boiler room stock basher dorks and also have the fda in their pocket. We can't let them win, and need to unmask these guys whenever we find one...like the one in question.
my vote is it would shrink and probably cure what ails you...I'm not saying actipatch is a cure-all but it does work for what it's intended use.
If I had a tumor, I would absolutely give it a whirl - without even telling my Dr., because he doesn't know either.
excellent question though...
cheers
I agree with you imrichbeotch, it is sick and sad.
I can't recall the company or brand name right now but there was at least one major incidence where FDA did not approve a drug that the rest of the world did approve...it turned out the fda was correct and the drug was later pulled from the world market.
I'm sure there is a bronze sculpture of this incredible worthy accomplishment in the plush and palatial fda campus to serve as a symbol of the remarkable single accomplishment of this bloated and crooked agency...
I can just hear them now when a jr. fda person comes running into the commissioners office with an approval request. "now just hold on there youngster, let me take a looksee. hmmm, naw I think we need more studies and piles of paper, I mean what if someone was taking a shower and forgot to take that electronic patch off there ankle? might cause the whole damn grid to go down, nope we really need more science and controls behind all this wacko new fangled stuff! get on back there to yer cubicle and delay this thing. oh yeah, do you have any more samples of them super-duper extra strength tylenols we just cleared for OTC and for children under the age of 3 months with toothaches? cuz my back is killing me..."
Thanks again hestheman...I appreciate the excellent clarification in your response and yes now I get it and yes it's still all very complicated, exactly the way they want it to be. have to pay for those MBA's somehow.
cheers
That makes sense. I hope all of you CT guys make a killing...then hopefully everything will trickle down to us lowly commons when LEH merges with a Chinese bank for the express purpose of turning every US citizen into an Archstone apartment dweller...just like in good ole Red China!
Please keep the great LEH posts going.
cheers
I hear ya, but Littledevils just said that his contact at LEH stated on the phone that the "hybrid" CT's were placed in a "trust".
which trust is that? onepigshare plan trust? or what? rather confusing and difficult to follow, isn't it?
I gotta run out for a couple hours and make some money so I can trade more stocks and loose money later...
cheers all.
I'm sure I speak for the board here that we look forward to hearing from you once you touch base with your LEH contact again for that answer to THE PLAN trust or some other trust.
one would assume that the CT's are in the PLAN trust since that has been approved by the BK court already. I don't recall any other trusts being established in the POR.
cheers
yes this makes perfect sense Littledevils! thanks for the good edumacation...I needed it!
cheers
Littledevils, from your phone call; did she say that CT's are in THE PLAN TRUST (one share pool) or in some other trust?
I guess since they are a hybrid stock - connected at the hip to $10B debt, that explains why they are still trading, given that debt is allowed to remain free to exchange between parties.
Thanks for all your terrific insight
thanks for the reply Littledevils...yeah the muddy waters are getting slightly more clear everyday.
I don't own any CT's, but if I did I would be calling someone at LEH to find out exactly where the CT's fall in this clusterf*@# of a BK. It's just weird that we all have great "IMO's" but a well placed phone call could clear all this up.
If the $10B worth of CT's are in the one big share pool party, then that's great...but then why are they still "trading"?
If they're not in the one share pool party then there must be a reason. I understand the hybrid issue, but it appears the CT's are out there in lala land...waiting for a docking station.
does the POR not say what the CT's are and if they are in line for a prorata payout if anything is left over?
cheers
Good post Little Devils,
I have a question for you and it may just be a big "duh"...
Couldn't it be that the reason LEHNQ is still trading "openly" is due to the on going unresolved litigation with JPM?
Once it gets resolved, CT's either get paid by JPM or wind up in the one big share pool party...
thoughts?
Cheers all
Thank you Hestheman and Cotton,
Please correct me if I'm wrong. Aren't the common shares already cancelled, but yet "protected" and "governed" by the Plan Trust Trustees in the one big share?
I'm hard headed but I can't follow how LEH can screw over commons when we have already been cancelled and yet preserved for the benefit of maximizing NOL's.
If there is $689M left over once all classes have been paid, then the 689M common shares are worth $1.00 each (theoretically of course).
The Plan Trust shall exercise
voting rights associated with the Plan Trust Stock in furtherance of the liquidation of the Debtors
and compliance with the provisions of the Plan. The sole purpose of the Plan Trust shall be to hold the Plan Trust Stock as provided in Section 4.17(b). The Plan Trust shall be governed, in accordance with the Plan Trust Agreement, by the Plan Trustees. Any distribution from assets
of LBHI that is made to the Plan Trust as holder of such share shall be for the benefit of the
holders of Equity Interests in accordance with Section 4.17(b).
4.17 LBHI Class 12 – Equity Interests in LBHI.
(b) Stock Exchange. On the Effective Date, all LBHI Stock shall be
cancelled and the Plan Trust Stock shall be issued to the Plan Trust which will hold such share for the benefit of the holders of such former LBHI Stock consistent with their former relative priority and economic entitlements; provided, however, that the Plan Trust may not exercise any voting rights appurtenant thereto in conflict with Article VII of the Plan. On or promptly after
the Effective Date, the Plan Administrator shall file with the Securities and Exchange Commission a Form 15 for the purpose of terminating the registration of any of LBHI’s publicly
traded securities.
Greetings Hestheman and thank you for this terrific update and analysis. It's now much much clearer for me and I'm sure the rest of the board agrees.
One question though as it pertains to LEHMQ common shareholders...
you often speak about the "miniscule" amount of new shares that LEH commons may receive in the future new company.
What is the basis for your "miniscule" comments? Shouldn't the future value of common shares be directly tied to how much money is left over once all classes are paid based on POR?
I realize the new LEH board is probably as slimy and greedy as the prior board, but they are now being watched very very closely. I would think they wouldn't/couldn't just throw us a miniscule bone if the value of newco is in fact much greater.
My point is, are we dealing in cold hard facts with real numbers or can the new board simply massage the numbers and give commons whatever THEY desire.
thanks again for all the great posts...I read everyone of them 3 times.
cheers all
Jim
Perfect. Thank you very much sidedraft!
cheers all
Greetings hestheman,
Do you have a copy of the final LEH plan of reorganization (POR) that you could email me or link to here on ihub?
I just checked my file folders and I apparently didn't save one for future reading. Also couldn't find a copy on line...at least not one readily accessible.
my email address is: jimzin2010@yahoo.com
Cheers!
sounds like the research triangle is well represented in BIEL! smart folks around here...I would say. We should plan a local BIEL chapter get together soon.
Cheers all
My guess is the BIEL/FDA direct contact person (if there is one) doesn't even know the news we just received about Canadian approval for Recovery RX.
And if there is an FDA contact person (whoever has the BIEL manilla folder on their desk) and if they did hear about the Canadian approval - what do you think they would do about it?
Can you see them walking this over to their boss (next cube over) and saying "man we had better hurry up with this"..."the Canadians are kicking our ass". I doubt it. Besides, what could he/she do about it...can't you see I'm on a coffee break right now.
Hmmm, that posting time seems very strange. I'm in Raleigh, NC...good ole USA.
The IG at the FDA has probably formed and "internal security task force" and has probably infiltrated and taken over the Ihub board (after hours) to get the correct information on BIEL products! Apparently the paper pushing clowns in the cubicle farms are not able to get it done.
Cheers all
Thanks Gman22, Supernova and the whole team BIEL. GLTA!
Thanks Supernova,
I'll call scottrade tomorrow. In your experience, can one open an account and only trade penny stocks?
I'll try that simpsonly...
are you saying that you currently pay the extra $200 in your BIEL trades?
Cheers
Hi Team BIEL, how do we fix the issue below? This is wrong on so many levels. Is this something that BioE needs to repair internally? Millions more shares could be traded if we can fix this.
The symbol you are attempting to trade has been recently deemed Non-DTC eligible. What this means is that the company is not eligible for electronic clearing and settlement, therefore, trades need to be settled with physical certificates which carries with it a substantial cost. Zecco is currently only accepting orders for these symbols via phone at 877-700-7862. We apologize for the inconvenience, but this is done to ensure you are fully aware of the fees (approximately $200-$700 assessed by the market entities) associated with settling trades by way of physical delivery.
Restricted stock sales...
This is a great board with many terrific thoughts. So glad I'm done with Yahoo boards.
I feel our next to largest issue besides the pending FDA approval is the lack of ability to purchase BIEL at major firms.
Just for disclosure purposes I own 2M shares split between BOA/ Merrill Lynch and ZECCO.
Both firms used to allow trading of BIEL but will not allow any more purchases...I would have easily loaded up with another 1-2M shares. I couldn't even transfer my BIEL shares to another firm.
I opened an ETrade account for the sole purpose of buying BIEL and as soon as it opened they said NOOO you can't just buy penny stocks...need to have a certain balance, etc...
This is a major stumbling block for all of us and not sure what can be done.
Any ideas guys?
Cheers
Thanks again Hestheman,
My biggest simple question is this...
Has Lehman or is Lehman using the common shareholder in our current form to secure the use of the +/- $50B NOL?
Meaning, through the common shareholders very existence, did LEH benefit to the tune of +/- $50 NOL?
If the answer to that is yes (I assume it is yes) and then if LEH cancels us when we are no longer "needed"...
well let me just say, Hell would be a kind and gentle place compared to my sword on those MF's!
Please fill it any holes where I am misguided.
Cheers
This is like playing the ultimate real live chess game, complete with all the various levels of players...with me and many others being common share "pawns".
I completely understand how we are paid dead last in this chess game - that's easy...but I absolutely do not understand how we get wiped out completely (legally speaking).
The LEH company has emerged from bankruptcy. They are paying off their agreed upon pay-out of $65B. The remainder of any and all assets belong to the current shareholders in our one big lovely pool of shares (1 share).
This is fun and exciting to watch and debate about the outcome...and I sincerely enjoy reading the "hestheman" posts.
I hope CT's are paid out or share swapped at +110%....and all other shareholders stock is valued at whatever the NEW company is worth.
If new company is worth $20B then take the remaining shares and do the simple math...that's they way it should work. If it doesn't work out that way, then it truly is just a rigged game and I for one will have my day in court...
It's understandable that in the behind the scenes world of bankruptcy, many deals are made and there's alot of give and take. Post bankruptcy is supposed to start with a clean slate. lets see if these incredibly smart Wall Street MBA's will do do the right thing or continue to create yet another "complex financial instrument" to screw over the common person. for there sake they had better walk the straight line.
cheers all
Thanks fuente. I'm not the sharpest knife in the drawer...are general off the shelf electric heating pads considered medical devices at the grand ole FDA? are they "FDA cleared"? I've owned several over the years and my ex-wife always curled up to one and applied it on her abdomen during her monthly raging hormonal PMS cycles! the crazy Beeotch...gee I hope she doesn't die from that or anything. LOL.
Just wondering then if Biel could sell the patches as "heating pads" for back, foot, shoulder, ankle, knee and PMS...and then print on the boxes the usual blah blah blah..."this product is not cleared by the FDA and is not intended to treat or cure any specific alignment or disease", as well as explain to the consumer you won't feel the heat...
are medical devices specifically disallowed from doing this?[/b] vitamins and homeopathic meds have been doing it since the FDA was formed.
This approach would not be as effective as FDA approval but once you're on the shelf you could make a big splash about getting FDA approval when that time comes...you know in 2025 after the patent runs out.
At least BIEL can say the patches are "Patented". Consumers also know that the FDA is a scamming government wastengcy!
could work, you never know.
Cheers
Hi Hestheman,
thanks again for all your posts. Please tell me how a potential newly formed LEH company could or would use the "preferred shares" as the 51% threshold as equity. How does that happen when common shares still exist and are part of the ownership?
Commons = 690M shares. Since these shares still exist, how can any other formula be used to determine equity ownership?
unless I'm wrong...maybe all shares have already been cancelled and now the one share pool determines retained equity ownership.
if that's the case, then we are all paid out based on our former priority...
Pay off all the claims @ $65B. Merge with Bank of China (???).
Pay off the CT's from the NOL merger proceeds, then issue stock in the new company to all preferred shares and common stock holders.
am I getting close?
cheers,
Jim
Hi toogoodfella,
Are you saying that common shares (in the one big share pool) have a face value of $.001? Is that our starting point if common shares are to receive any value in the future new company?
cheers