Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

The inital disposition of the stolen assets of UMC stock owned by SNDK was first published on SAT. Maybe you were ill and did't see it.

No one on thread including you brought up the subject of disposition of stolen stocks until today.

If I saw it SAT, I would let you know then not today.

Those stolen securities were sold by law firm employee who fled with the proceeds. SNDK received $20 M in cash, took $18 M writeoff and balance of $83 M cost of UMC shares is pledged by law firm to SNDK in notes payable and future services. What if law firm declares bankruptcy.

Get used to it SNDK has had potential writeoff of at least 5% of Book value. I just hope those stocks weren't pledged as colleteral by SNDK for new fabs overseas.

SNDK is not the a wonder stock anymore. It is still a good company like CREE NVDA or BRCM: high valuation and some blemishes.

PS I was big believer in SNDK going to $90 by year end; not any more.