Woulfe, not sure you have read the HERO filings, other public analysis and opinion. When HERO files, it would be pre-packaged and the essence is to get legal authority to effect the transaction. For your information, current shareholders are getting 3.1 percent of the company. With shareholders' equity valued at $471,902,000, the value of the 3.1 percent is $14,628,962. That translates into about $0.10 per share. In addition, shareholders would get warrants to purchase shares of the new company at a determined value. Some analysts have placed a value of anywhere between $0.08 to $0.13 on those warrants. Further and very importantly, the lenders would infuse about $450 million into the new company. That amount will also increase the shareholders equity and, at least two analysts have placed additional value of $0.09 to shareholders equity. So, you are looking at Present equity plus warrants value plus additional capital translating into some $0.27 through $0.31 per share. And this deal is all but done, as of June 16, 67 percent of bondholders have subscribed to it. And HERO mgmt in a previous filing has indicated that if they did not have support, they'd file for bk on July 8, but if they had the support, they'd wait till August. So, as we enter August tomorrow, note that someone is offering you something that is worth $0.31 for less that $0.10 today. I have bought some 179,000 in addition to the 11000 I owned at higher prices.
Thank you.
AI
