Replies to post #3905 on Fibertower Corp fka FBBT

[Sonny_Crockett]

Here are the precise amounts taken from each of the 4 Bankruptcy Filings trying to get an overall view. There are inter-company payables that can confuse things but they net out in the end:

Secured Creditors $132,211,924
Debtors Cash Taken -$33,750,000(This came later)
Net Debtors Due $98,461,924

Allocated to Shareholders for Licenses $60,000,000(From Settlement Agreement)
Unsecured Creditors $42,649,999
Unsecured Creditors-Non Priority $158,709
Owed to Vendors $2,228,948
Capital Lease Obligations $3,533,435
Total $108,571,091

Grand Total $207,033,015

Almost fits to a T. An AT&T that is.

You have to wonder with the orginal Purchase Agreement occurring in January 2017.

Fahy and Levy Filings coming in during March and April 2017.

Then the Purchase Agreement gets amended in October 2017???

Could be that Fibertower and Solus were simply extracting more from AT&T after the Straightpath Sweepstakes and or Fahy and Levy's filings struck some nerves and concerns with AT&T and the FCC and thus they a retroactively going back and resurrecting some things and making them right.

[fatmojo]

3rd repost from Sandpaints

ELA - I've been away for a few hours doing chores etc., However, you asked a good question that might be answered in some ways.

Imagine you might intend to take some kids to a movie show, but you don't know for sure if the mechanic is going to have your car repaired in time or call back with the news that the car is ruined to the point that it won't be driven in the future. So you don't mention the movie because it might not happen, and if the car is actually ruined then you wouldn't be taking anyone to the movies for a long time due to financial problems.

So the kids are nagging you about the movie but you can't give them the full story of your troubles.

It's not a very good example, but again maybe anything said by AT&T at this point would be a potential commitment they don't want to make for just out and out unnecessary financial obligation reasons.

We all feel a bit bad about how this is going, but we have to wait. Meanwhile, Sonny has given us a picture of how the $207 million is part 1 of the deal - and I am satisfied that his calculations make a certain amount of sense. The $207 million got the machinery turning, but it could get sabotaged.

180 days following the announcement of the settlement agreement is deadline June 26th-28th, I think. There's still work to be done by FiberTower scoundrels, AT&T is helping out with reservations regarding a full disclosure, and Solus is a dark horse mystery but in the race pack somewhere.