-Will get much MORE cash over next few months form 3 sources: 1. Selling bank subsidiary: Don't banks go for equity capital or a multiple of their equity capital? Equity capital is $44 million. http://finance.yahoo.com/news/First-Marb... If this is not the case then fold the bank and return the equity capital to the parent. 2. TERI reorganization plan. Even TERI thinks they will pay FMD something. TERI says $14 million, FMD says $80 + million. I don't want to predict a number but I think we will know the final settlement before New Year. 3. NOL carryback. I received confirmation that this bill would apply to FMD.
So in a shirt time FMD should have OVER $500 MILLION CASH , net cash over $3 / share.
-On conference call said they are in "final stages" of agreement with a major bank for student loan business. -Goldman Sachs invested at $5 in 2008.
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