You are correct. I don't expect to see any REAL news (PR, IR, filings) until the time is right. Operate in the shadows of the non-reporting world.
The way I see it, wall st doesnt keep secrets but they can use proxies buys in say Dish, S, Tmus, VZ, etc to hedge.
I don't see anyone really buying in large volumes of BLIAQ/BLIBQ until an appeal is made.
Not many people would risk buying the first chapter 7 that has emerged with the common shares intacted.
Icahn, will certainly make use of the NOLs. You can't cancel the shares without cancelling the NOLs that are attached to them.
There is nothing the law can do. Everything that is about to go down is COMPLETELY LEGAL
The launch of overseas is a great narrative because of the disassociation with all the shells in play. It creates an illusion that there is no association with BLIAQ or the original Blockbuster brand.
My final point. Since the trustee has been discharged and we are out of BK, the next legal steps is for FINRA to dissolve/cancel our shares within the 21 days of June 29. That is by law. The only next step to make sure that doesnt happen is an APPEAL.
If an APPEAL happens (which will be announced soon), I am not sure what happens next. I am no BK expert but Id imagine somewhere in BK law there are next steps to reporting and I can imagine there will be DELAYS in reporting. They will report as little as possible.
So, I dont think they can hide in the dark much longer without wall st catching on.
Let me know your thoughts.
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