He stated an uncertainty in the documents from yesterday, but more as a hedge to the bad news. However, he addressed two things specially....the $300 million equity payment and what that actually meant (and it didn’t mean what many thought it did)...and the fact that there was nothing in the plan showing any return to common equity.
Those are facts. But he kinda set himself up for this with his overly optimistic view of the situation in this process. Reality hit him in the face yesterday.
Now...as to the hype and hope of what “could” happen....that is best left to the fertile imaginations of penny “investors”.
While that provides an opportunity for “traders” to do their thing...for those that understand this process know that there is next to no chance anything is coming to common equity.
It will be cancelled because both the propco and opco will have their own NEW equity issued.
But this is the OTC and this stock will trade right up to the point it is cancelled by FINRA.
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