Dime Bancorp Inc (fka DIMEQ)

[bottomfeeder]

My two cents worth - updated anlaysis of dimez.

In reading the court papers we know DIMEZ prevailed on expectancy claims and we are now awaiting on damages. Alternative theories as posted previously and filed in their 2003 8-k were ruled against which is favorable to DIMEZ as the initial claim of $970M now stands. So there are two risks currently – the value of the award and timing of the award. The latter I won’t get into as it is a matter of cost of capital and individuals have different valuations.

Given current trading range between .13 to .14 the break even award would be around $60M. So ask yourself, in light of the $970M claim and prior awards given to other plaintiffs what are the odds of landing an award exceending this amount?

As the award increases, the equivalent Dimez PPS goes up exponentially. That’s because the cost of the ligiation is fixed (I used $30M) so anything above this is gravy to DIMEZ holders, less income tax (I used .45 tax rate). The bottom line? Here are my calculation on Dimez value vs. amt awarded:

.29/$100M; .50/$150; .71/$200….1.96/$500; $2.38/$600. and if $970 is awarded - $3.92. The last amount is different form the $6 to $7 posted earlier that’s because initially DIMEZ had other claims which have since been ruled against.

Of course if 0 awarded Dimez is worth a zip. The above are all my educated guesses. Anyone know what was filed last year? My gueses are based on the court decisions and papers in 2003 so if DIMEZ has updated their damages above is moot. Do your own DD> the above is just my two cents worth.

Lastly, how long do these things take? it's been 10 years since the intial claim.

I've been accumlaing in the .11 to .14 range. i'll likely pick up a few more if it falls below .13.