P's are worth $1000 at FV, so $2000 is not much of a stretch when one looks at WAMU's last 10Q and other FDIC docs. Either way I said this figure was "more likely", not that we were guaranteed to receive this sum.
No Rockie101, $2000 per P is not ridiculous, using Dr. A numbers and wording in the Original P agreements allows the company to convert the P shares into Common shares if the common share price is above $21 thus making the Preferred valued north of $2000 per share and common roughly $18. Again this is using Dr. A’s and Original valuations. Just an Opinion.
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