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First Crown Research

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First Crown Research

Re: None

Wednesday, 10/31/2012 1:52:55 PM

Wednesday, October 31, 2012 1:52:55 PM

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It's surprising that no one has posted on this board in two years. A lot of progress has been made on the case since then.

A plan of reorganization was filed back in July which leaves the equity unimpaired. The confirmation date was pushed back to December 3rd, with objections due on November 26th.

In the Castle Union letter to partners last quarter, they mentioned a bankruptcy investment that they wouldn't identify because they were still buying in the open market. Yet, they gave enough details to figure out it was STRZQ. Since that letter was made public, the shares have gone from .86 to 1.37 today. My speculation is that they'd still buy at this market value of 4.40m, since they calculated equity at 11m.
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