I've only had a chance to scan through the DS, but it seems that we have an overall better chance of a non-zero recovery in most scenarios.
It seems that the absolute worst case would be to have DIMEQ deemed Class 18, which means that we have 0% recovery.
If we are deemed equity, then I think (emphasize think) that we will be converted based upon our formula, which would dilute the heck out of commons (since it's estimated that commons are getting ~54 million in value in the reorganized company).
If we are deemed Class 12, then it looks like we get 97-100% recovery, plus it seems that all creditors are getting sufficient additional funds to cover any potential tax liability.
Moreover, it seems that, if we are deemed Class 12, we can opt for (1) cash, (2) common stock, and (3) a debenture. I don't know much about (3), but I am interested in this part as well.
Of course, just taking my cash and going home doesn't sound too bad either.
Overall, it seems that this helped clarify a few things, but nothing materially different from before... still waiting on the good judge!
I'm very interested in other people's reading of the POR/DS.
Best,
Jared
