http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=7261643&SessionID=RRKjHSCVNXcyrl7 This link will discuss, in detail, how NOLs were preserved while canceling common shares. --My post previous to this stated that Six Flags retained $1.3 Billion of NOLs. --The link above discusses $2.1 Billion of NOLs and an ownership change. Therefore...Tricadia et al figured out how to save 62% of Six Flags NOLs...with an ownership change. Tricadia's largest holding? Six Flags