Sunedison Inc. (fka SUNEQ)

[FEED_THE_FOXES]

The Balance Sheet accompanying the May 2016 MOR is meaningless. The operative term in MOR is “Operating” performance. Only the Income Statement and Cash Flows matter since they provide the Court with a quantitative summary of how SUNE is doing compared to its forecasts. The B/S is a concoction. Assets suddenly increased $7.4 billion due to a new line item called “Intercompany Receivables”. There should be a net account on the other side of the ledger called “Intercompany Payables”. Paid-In-Capital increased $4 billion since 9/30/15. Did SUNE do a new stock issue since 9/30/15? The “Accumulated Deficit” declined by $678 million. Did SUNE suddenly become profitable since its last 10Q filing? There is really nothing significant in the MOR cash flows that were not picked up for the period reported in the 6/6/16 SEC filing.