EVOQ Properties Inc.(fka EVOQ)

[drsandcrs]

Glad you pointed that out ....

Thanks for pointing out my "sold at 50%" discount error .....

that was important as i can take another opportunity to emphasize whats really important here .... which btw you seem to have fully and completely missed .....

the critical element of the post isnt 50% or 29.2% discount as IMO thats totally irrelevant ......

what IS really important is that MMPI has reached another settlement agreement ... thats IMPORTANT

and i made a big mistake in my post .... after your post i went back and reread the settlement agreement ...

The settlement involves $15.2 million in debt ...

The agreement calls for the following ...

$9.0 million at 4% interest only all due in 5 years.

$6.2 million paid as follows

1. either 50% cash payment in full satisfaction

or

2. $6.2 million at 1% fully amortized over 5 yrs, pd qtrly

this means the weighted avg interest to be paid by MMPI is lower than my prior post ... savings goes to equity holders ... no additional legal fees ... all good

and pay attention ... MMPI is moving forward in reaching agreements with secured and unsecured creditors in advance of voting on a POR ... there's been so many ive lost count, from the biggest MMPI creditor to the lowest creditor

I labeled it a "divide and conquer" POR .... and its happening .... they have reached a significant number of agreements with a material $$$ amount of its secured lenders

RM is also now letting existing equity holders to participate in a post BK MMPI ...

Keep your eye on the right target ....

good luck to all ...