Did the 131M bid come as an effort to simply obstruct the JCI deal and kick this thing further down the court? Even if they would have threw out a number like 400M, would the results be the same at this point: BK Auction? If so, I suppose we could regard that 131M bid as irrelevant. I really don't know how to make sense of them going from 465M to 131M. I know little; I'm just postulating here.
Who knows their stuff well enough to weigh in on the questions below? What's your guess?
1) How deep is the debt including all debtors, ceo bonuses, bk costs, break up fees and what about compensation to DOE for grant money already collected if China takes it? 400M/425M/450M/475M/500M more/less? The most educated guess I've heard so far is 438M plus BK costs.
2)What's the value of the assets? (is the 100M+ unpaid grant from DOE included in their clamied asset value? if so, what happens to this if US Gov objects?) 360M/410M/460M/510M? more/less? 511M seems to be the latest number.
3)How many common shares are out there? 315M/320M/330M/340M more/less?
Worst case with a 500M bid that flies: 500M bid - 450M debt/340M sh = .147 pps
The big question in my head is how much are the chinese going to have to compensate the US Gov in order to get this through? That's a wild card.
Peace, Cold Mountain
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