.......FNBCQ can only 'sell' the NOL/tax credit for about 30% of face value................call it $108mm, net to DEBTOR..............
....then FNBCQ has to pay out priority BK claimans = $60mm...........that leaves...............$48mm..........divided by 20mm shares outstanding and shareholders get $2.40 p/s................in 3 years.................
....only problem is.........there are strict BK rules for payout (510b - subordination agreements)....................and the IRS has rules for NOL sales............(no change of ownership, etc.)..................
.....and the FDIC has to bless all of this.......FIRST.......which it ain't doin'...........IMO..........
.......so it's either.............$2.40 per.........or $0.00...........pick a curtain............aimho............