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Re: chickenvestor post# 28

Monday, 04/12/2010 9:27:02 AM

Monday, April 12, 2010 9:27:02 AM

Post# of 912
I haven't followed MESAQ closely in a while but I will look at it again tonight. At the time that stock broke into the "Q" land I had a nice position and it began to run like crazy during a time that TRXAQ was getting extremely attractive and I opted to shift funds to Tronox.

The issue I couldn't get my arms around regarding MESAQ is some estimate the final lease rejection claims number. There are/were $1.6 Billion in off balance sheet leases and it was unclear to me, at that time, as to the dollar amount that would come onto the balance sheet as "liabilities subject to compromise". I will look to see if there is more clarity on that at this point. One thing is for sure, that stock has tremendous retail support.

We should be getting close to seeing some 13f-hr and other institutional holding reports that will be "as of" some date that is beyond the bankruptcy petition date. Any of those holding reports that have an "as of" date that is prior to the bk filing will be of little use or value. I want to see who held through that date, what amount did they hold and who acquired post petition. My guess is that not many held through that date because the entire float turned over about 125% in the 7-10 days following the petition date.

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