Replies to post #21370 on GT Advanced Technologies Inc fka GTAT

[XenaLives]

Pretty stupid when he has no statutory right to be involved in the EC (it's the top 5 shareholders). Would only make sense if he was fronting for one of the top 5. IMO - GTAT did right by demanding discovery from this jerk.

[XenaLives]

This creep wants 7% of equity WITH A STRIKE PRICE OF $1 for 5 years.

But he thinks a few million dollars to bump compensation of GTAT employees/managers is a rip off!!!


I THINK I'M GONNA PUKE. RG MAKES ME SICK!

[XenaLives]

RG is the scum of the earth - read it:

Page 10

The actions of the Equity Committee in fulfilling their Declared Priorities will necessitate the significant investment of time by the Volunteers on the Committee and by third party professionals recruited to provide Legal and Other Counsel and Services.
The Budget Request of the Petitioning Group is as follows, A $2,000,000 cash stipend to be paid within four days of the Appointment of an Official Committee of Equity Security Holders, A $2,000,000 cash stipend paid on the First of February, and on the first of each month during which these Debtors' Estate is tied up in these entangling legal proceedings,
The Cash Stipend is for the compensation of Legal Counsel, Consultants and Experts, and service providers contributing to the aims of the Petitioning Group of Equity Security Holders in the pursuit of their Declared Priorities.
The Petitioning Group of Equity Security Holders shall return any remaining monies from the Official Equity Committee's Cash Stipend to the estate of GT Advanced Technologies' at the conclusion of these Chapter 11 proceedings.
Paragraph 12 This Budget Request proposes the necessity of an Equity Bounty (described below),
An Equity Bounty given the successful preservation of existing the Equity Security (regardless of impairment) in the Final Plan of Reorganization and exit from Chapter 11 to be awarded to the members of the Petitioning Group of Equity Committee Volunteers.

Page 11

A reasonable bounty for the Volunteers of the Equity Committee aligns the interests of the members of the Official Committee of Equity Security Holders who have volunteered their time and input as involved owners of the Company on behalf of the $54.19M of Owner's Capital at-risk. Please note that the Equity Interest's value — appropriately analyzed as the right to the future cashflows of GT Advanced Technologies — is significantly depressed due to the uncertainty inherent in the present legal proceedings. The present book value of GT Advanced Technologies in the case of immediate liquidation is estimated to exceed $2 per share or $273.3M, for comparison's sake of the value of the Debtors' Estate.
Paragraph 13 The proposed terms of the Equity Security Holders' Bounty as presented below are designed to incentivize the Members of the Official Committee during circumstances which are likely to be at times disheartening and stressful as we face-off with our own Company's Managers who have reason to make it difficult for us to bring certain important information to light in our role as Watch Dogs of the Firm during these proceedings..
An Equity Bounty for the successful outcome related to the contributions of the Commtitee's Members consisting of an Lot of Stock Warrants which vest immediately after the Firm's exit of Chapter 11 numbering 7% of the outstanding (successfully preserved) public shares of equity stock with a strike price of $1.00 and a duration of 5 years.
Paragraph 14

Page 12

The 7% share of equity is to be assigned to the volunteers of the Official Committee of Equity Security Holders weighted according to their expected contribution of time on behalf of Equity Security Holders:
Schedule of Equity Bounty in the Case of Successful Preservation of Equity
Chad Cooper 1.5% of 7%
Nathan Cottrell 1.5% of 7%
T. Richard Faloh 2.5% of 7%
The Honorable Douglas K. Southard 1.5% of 7%

Perfunctory details of the Budget Request Contract and Order omitted.
Paragraph 15
Summary of Budget Reauest
The financial capital of toy gamic of equity investors around the world is invested in the Debtors' common stock issuance. The Petitioning Group of Equity Security Holders who are taking initiative and action on behalf of the great number of common stock shareholders are not the Carl 'calms, or Koch Brothers of the world, nor are we employees of large funds. Rather, we are everyday participants in the American financial markets who have taken up the responsibility of their role as risk-bearing equity owners of which the American and International financial markets rely on in order to function properly.
Paragraph 16 Investors have the rightful claim to a significant Budget which substantially bridges the gap between the resources that the adversarial GTAT Management

[wall_street61]

That's the funniest sh!t I've read in a long time