Lehman Preferred Series "J" Preferred (fka LEHJQ)

[pinda]

But I think you just missed the point of my post. Whether the balance sheet is dated 10 years ago, today, tomorrow, or 5 years from now is irrelevant to the position they are taking with equity.

A balance sheet is a snapshot in time. What does that mean to us when they are canceling the shares and going to redistribute funds once they figure out if assets > liabilities.

So even if the balance sheet is old and shows that Liabilites are greater, or if the balance sheet is current and shows that Assets are greater, we still don't see our share til everybody is paid out. Hence it not mattering what balance sheet they use. We only care about the final one they produce before they close up the bankruptcy for good and put the final nail into Lehman.

What a current balance sheet would do is give us peace of mind on whether or not we will see any money or get nothing, but that's about it. It won't change the schedule of events and what is to happen.

What worries me more is that LAMCO is being created to recover more money for creditors, well if Assets were greater than Liabilities, why would they need to create this new company to try to recover more and generate more revenue.