Replies to post #284 on Internap Corp fka INAPQ

[Bert_From_Accounting]

There is a ton of information here https://cases.primeclerk.com/inap/

In those documents you will see that there is a hearing on 4/14 (next Tuesday) and 5/4 scheduled. There is also a disclosure statement document that shows projected income statement, cash flows, and balance sheets for the next five years (embedded below). These are the numbers that the creditors used as basis for their agreement to the restructuring (shows projected positive EBIDTA and positive cash flows). These statements do not include tax loss carryovers, which are essentially assets to the company. If realized, they will substantially offset income tax expense for the new company for several years into the future.

The big *IF* still is that the judge has to approve the chapter 11 over full chapter 7 liquidation. It appears to me they have a very strong case including the fact that the company is still churning based on their social media activity and letter to customers on their website. So, in the next few weeks or months, the current common stock will cease trading, be converted to warrants, and you will be able to choose when you exercise the warrants for stock in the new company.