BTW, anybody has a thought on the LEHMQ POR? something similar might happen in Wamuq that new share will be issued and common and PQ/KQ will convert into one big pool?
Some info about NOLs also
"
Practically, it can be very difficult to avoid an ownership change under Section 382. If a corporation needs new equity to survive, the bargaining position of the parties contributing that capital may be so strong that it is impossible to prevent them from obtaining a majority equity stake, triggering a 50% ownership change. In addition, at the time that a new equity party is brought into a company, various creditors may have the right or may be forced to convert their debt
to equity, and in combination, an ownership change may be triggered. Furthermore, because the test is performed over a rolling three-year testing period, a corporation that may have had a prior equity offering within that three-year testing period may find that in combination with the current equity round, an ownership change can not be avoided."
That's why they might not want to cancel the common in Wamuq as well to keep the NOLs.Otherwise all the settlement talk might collapse.