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drsandcrs

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drsandcrs

Re: Enterprising Investor post# 1905

Tuesday, 07/27/2010 9:12:13 PM

Tuesday, July 27, 2010 9:12:13 PM

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I wouldn't go anywhere near Legendary's offer ....

Major major dilution of equity .....

Takes equity liquidation value (worst case scenario) DOWN from $1.11 to something like 40 cents ...

and takes book value per share down from approx $2.40 to something like 87 cents per share ...

its a rotten deal for equity ... consider it dead on arrival .... it should not be allowed by the court ... motion DENIED!

if they would like to exchange their debt for equity then they need to do it near book value per share ....

just one person's view .....

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