Octave Specialty Group Inc (OSG)

[hondaboost]

Seems huge bad: Ambac’s loss was ($256.7) million or ($0.85) per share in 2012.

Cash Flows . Net cash (used in) provided by operating activities was ($613.9) million and $3.6 million during 2012 and 2011,

Total Assets: $27 Billion
Total Liabilities: $30 Billion
Net assets: -$3 Billion.

Accumulated deficits: $6.2 Billion.

The company states:

"If our Reorganization Plan is consummated, our existing common stock will be cancelled and extinguished and the holders thereof would not be entitled to receive, and would not receive or retain, any property or interest in property on account of such equity interests. Amounts invested by such holders in our outstanding equity securities will not be recoverable. As such, our currently outstanding equity securities likely have no value."

WAMUQ, THMRQ,... ALL commons were cancelled and wiped out.

Does NOT look good, Feeling very risky now.