Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[Large Green]

The MOORE PLAN COULD ADD Up To $9.00 a Share to JCPNQ

Because there is no unsecured debt due until 2023, using the credit card royalty revenue to significantly pay down and/or refinance the 1st lien debt makes sense, this plan makes cash interest an option of the company and/or pays off the debt at a discount.

https://seekingalpha.com/article/4371666-j-c-penney-1_48-billion-in-cash-and-over-300-million-in-credit-card-revenue-are-really

CONCLUSION:

The credit card royalty advance or securitization would be recouped from the royalties generated from the credit card portfolio. Any of these options raises $1-$3 Billion Dollars from an unencumbered asset that is listed at close to ZERO value by J.C. Penney. This revenue stream is mostly unaffected by COVID 19, which the debtors blame for devaluing all the other assets, and it has nothing to do with real estate appraisals and isn't connected to the survival of the brick and mortar retailer.

All this is contingent upon the equity committee becoming official and the Moore Plan or a variation of it is implemented.