GT Advanced Technologies Inc fka GTAT

[beginendgame]

"Equity of existing holders can be canceled and new diluted equity can be issued."

This is a plain wrong statement. Old equity can (1) be cancelled entirely, OR (2) be diluted, OR (3) survive Chapter 11 intact (rare case). If old equity is cancelled, there is no such thing as "new diluted equity" since there will be no dilution.

You think the outcome will be either (1) or (2); I think it will be either (2) or (3). It would be futile to argue in the absence of concrete data. You believe what you want to believe; I believe what I want to believe.

Although probability in general favors your bet (I even know the ratio - it is actually about 7-3, historically for the past 5 years), I think this is a very special type of bankruptcy since there has been no defaults, bond maturities come at least after 3 years, Apple agreed to DIP priming, Apple agreed to cancel old agreement with minimal, limited payback conditions attached, there is a chance Apple may work out, all factory equipments are brand new and fetch high prices, there are many companies interested in GTAT, etc., etc.

So you take your bet and I take mine. Questions?