Flo has an excellent point worthy of discussion!
Flo said the following, “Not just a forensic accountant, experience with bankruptcy cases too. And a CPA too, got help from PJS to 1000s of hours spent on asset analysis and recovery, to get a 50mm company? May be commons are getting a lion’s share thru LTI and EC agreed for 25% of the newco imho.”
If one just wants to say “more fraud/collusion” then the discussion ends before it starts. I have learned about bankruptcy cases in Delaware from other cases and their “modus operandi” is the same with the principle meaning hide, under value, zero out equity and issue new equity to certain select people in the NEWCO start. This not only enriches certain people all the way through the process, including bankruptcy sanctioned insider trading and other nefarious acts to bring the business of bankruptcy to Delaware. All people make out in this process except, of course the people who owned the company called Shareowners.
It is also hard to believe that with all of the actions the EC brought to light such as sealed documents, Nelson’s infamous thirty billion, chambers meeting that turned people white and a all of the billing by PJS, Maxwell and others that they settled for what appears to be on the surface a seventy five million dollar organization without any known future. This is what we now know and to me all of this just does not add up in total. I am not ready to support Flo’s twenty billion dollar belief, but I DO support in total there is much more here than meets the CURRENT eye.
I also do NOT subscribe to TPS, TPSC and Art ALL OF A SUDDEN deciding within two to four business days to let’s hurry now and sign as we have not other options. This belief is naïve to say the least. I will stand on this, one can almost bet anything with the players currently involved that there will be MUCH more value to come whether this is through undervalued/hidden assets, bogus claims that do not get anything or very little which has been known to certain people and/or a plan that supports a huge capital raise to bring a very tiny organization to a multibillion dollar organization within six to fifteen months from the post chapter 11 effective date! Happy Easter everybody and enjoy the day.
