Fibertower Corp fka FBBT

[hgabreal]

I have a theory:

1) With the assets > liabilities even with current valuation, creditors/management realize that there is no legal way to wipe out common shares without sustaining a class action lawsuit they would most likely lose (with their current valuation, the jury would be merciless).

So, another way they would do this is to keep share values low and buying out or have someone (Solus) buy out shares from disheartened shareholders. Various measures (including the mark-down of the spectrum value at $106 mil) are being used to keep the share values artificially LOW so they will be bought out from shareholders. I think Solus is using the 6 month extension to obtain as many shares as possible from shareholders until they come out of bankruptcy OR get bought out. At that point they would own almost all the common shares valued at > $5 WITHOUT having to cancel common and face a lawsuit.

The few shareholders that didn't sell would also get rewarded with the true share price.