Hey, JT could be right and I certainly do not claim to have any better insight into the future than he does. Then, again, the company's own PR says the stock is worth 10 cents and will be cancelled with all the equity being transferred to the Tier 2 noteholders. One thing that JT is absolutely correct about is that this won't take long to be determined.
One way to look at it is that the noteholders already won, courtesy of the sweetheart deals management cut them with these ridiculous, high loan % financing deals, and the first in line asset preferences that were given out at the frivolous (?) expense of shareholder value which the B-o-D is supposed to be watching out for. Another way to look at it is that management already won in the sense that this reeks of a "set up" that has matured as a plan over a span of years and the current plan-of-the-day hints at management standing on the brink on a huge chunk of shares in the new, debt-free ROHI worth, perhaps, as much as ten times the 26 million shares about to be cancelled for shareholders for around $2.6 million.
There are a bunch of other options, but few offer a great deal of promise for shareholders, here, IMO. The plan put forward gives EVERYTHING to financiers, creditors and management and virtually NOTHING to shareholders. That's not much different from many other BK's, is it? Why is that unfair? Maybe those stupid shareholders deserve to get screwed and should be happy to take a lousy dime for their shares, even if they rode this piggie down from $4 of even loftier heights in the bygone era when management ran a business venture in HME, not a patronage for cronies and insiders... if that is really what transpired?
I guess I really don't know. After all, I'm just a throwback to the era when people invested in stocks with real fundamentals and workable business plans and didn't trade in the nano-second in gambits that stink of fraud and manipulation and on-the-edge flirtation with illegal rape of shareholders in violation of SEC laws.
All, IMO.
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