Thursday, May 26, 2011 3:59:17 PM
Preferred multiple gain 1000/36=28 times plus a 10% kicker in conversion
Present WAMUQ price is .118 * 28multiplier per preferred =$3.304 potential based on preferred multiplier.
1.7 Billion shares * 3.304 =5.616B residual estate!
Preferred get 5B plus estimated common 5.616 equals 10.616 new assets for company to work the deal.
I guess they have at least this or expect to have this eventually when the other assets are recovered.
The EC can not change the ownership since they are insiders! I am sure they wish they could!!!
You know but have no understanding of the value of the residual.
All should be happy but the actual residual upon exit may not have all the assets so the preferred will get a better shake at the expense of the unknown residual assets but in the totality of the deal it is neccessary to do it quickly.
My last message for today as 15 is maxed.
I do not wish to offend anybody and actually do not know the law and I guess you guys do know more then me but if Preferred are slighted then I would expect a Supreme Court ruling on this newfangled interpretation of English.
No derogatory intentions just facitiuos play. All my money is on the preferred as I like a safe play. I suspect the common residual will eventually be known and should come close to a few dollars for the common with the preferred being allowed to share in future recovery per the litigation trust.
The 10% kicker should have standing and may allow the waiver of appeal if the preferred shares agree to such a conversion.
GLTA
100% Preferred who just got very excited on the big board.
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