- this bankruptcy is not the same as last one. simple layman way to look at : 80% more assets than liabilities when they filed. last bk, more liabilities than assets. it is hard for a company to gobble up 80% assets.
- eu assets are not part of bk and thus belong to the estate and thus to shareholders. when i first posted this, everyone thought i was nuts and kept questioning me. the eu book value alone is 950 million as per the docket. it is true and in writing. senior noteholders tried to take 65% of netherlands assets as collateral (and collateral does not mean it is gone). the unsecured creditors are fighting for the legality of this stake. senior creditors tried to lay their hands on eu assets going around the system. i look at glass half full, so still 35% is left. i thought i saw in one of the dockets that board members may be in some trouble but not sure, thought i saw some legal bill that eluded so. not sure.
- nol's need shareholders to be alive and well , otherwise the benefit of nol is extingusihed. it is all under irs rules. look it up. the buyer or the creditors will need to keep us alive to use them.
- use dcf method: looking excellent with all the positive i posted. too juch money on the table.
- reversal of loss reserves is more of a fountain of cash
- merger is full of money for shareholders , nol's, nol's. nol is real money that they paid as tax in good times and now time to reverse it. warren buffet tried to buy dta's of fannie freddie, goldman sachs tried to buy them too. real money on the table.
- my valaution of $35. don't know what will happen but know what should happen. we all know valuation is an art and creditors have the money, best accountants, lawyrers to massage these numbers to their benefit. i am confident equity committee will be approved though the creditors will continue with their shark tactics.
- ad hoc commitee shold take every word in the very last filing of incresaing sales numbers, lower lead cose, lower sg&a, improvemnets, new products, new processes and so on and build our case. it is irrefutable, it is in sec filing. we then need the best lawyer, posted few names, to get to $35 value.
