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Saturday, 06/13/2020 9:32:03 AM

Saturday, June 13, 2020 9:32:03 AM

Post# of 43522
JCPNQ SOLVENT ASSETS $8,568,659,386.00 DEBT $4,918,000,000.00 SHAREHOLDER EQUITY $3,650,659,386.00


***Page 14 of 16***

https://img1.wsimg.com/blobby/go/e52e137b-92af-4273-a367-58417f136f9d/downloads/Shareholders_Objection_Petition_Docket_Final.pdf?ver=1591920095315

1) Total residual shareholders assets = $4.46B

2) Total unsecured obligation = $1.318B (Docket 25, page 38)

3) Value of NOLs @ 30% tax rate on $2.2B = $0.66B

4) Thus net residual shareholder equity in the current JC Penney holding = $3.802B i.e. $11.85 / share. *










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