"So I added the $ 888 M to the $ 3.2 M = $ 4.1 M (approx.)"
how do you add $888M to $3.2M to get $4.1M? Did you mean $888,000?
And right now, the claim 12 value is worth $5.8M; if there is an additional $888,000 as you posted above, then it would be worth $4.9M. You forgot to add the value of the claim 12 to the value of the new equity. You used the $190M value for the newco equity, which I could debate is too low, but either way its about .037 in value newco equity and then the class 12 claim which as it stands now is worth about .05; .05 + .037 = .087 in value per DIMEQ. I will be shocked if DIMEQ's payouts don't end up being closer to .11 a few months down the road after the newco is trading.
The key value determinant in the newco is how much in loss carryforwards they have----does anyone have the final value? I have heard $2.5B+ in NOLs.
"an Allowed General Unsecured Claim (as such term is defined in the Seventh Amended
Plan) in Class 12 in the aggregate amount of Nine Million Dollars ($9,000,000.00) (the
“Allowed General Unsecured Portion”); provided, however, that the Fees and Expenses,
to the extent allowed pursuant to an order of the Bankruptcy Court, upon notice and
hearing, shall be paid from the initial distributions to be made to LTW Holders with
respect to the Allowed General Unsecured Portion; and, provided, further, that, to the
extent the Fees and Expenses are equal to or less than Three Million Two Hundred
Thousand Dollars ($3,200,000.00), the Debtors and the Creditors’ Committee shall not
oppose any such application;"
If you need to get ahold of me, shoot me an email as I'm no longer a paying member.
