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Imagineer66

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Imagineer66

Re: StockItOut post# 1126

Tuesday, 09/06/2016 1:17:52 AM

Tuesday, September 06, 2016 1:17:52 AM

Post# of 1227
I was not confused as to what those numbers meant. I was using the numbers as names.

100% of Senior Notes plus ... plus accrued but unpaid interest get 90% of stock. Since the the "unpaid interest" is before the "get", I was suggesting that the combined asset of the bond value AND unpaid interest would be exchanged for the stock. In mathematical terms:

Redeem side -> receive side
BV + UI -> stock

Since the UI isn't on the receive side of the equation, it doesn't appear that it will be paid. It will be something given up for the stock.
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