Thank you! I have been following this CCTYQ BK daily. I am looking at a big hunk of money coming back to the shareholders. I was following CCTYQ before it went it to BK. I was shocked they filed BK.
If my numbers are correct, we could be looking at nearly .50 a share for shareholders. Yes, it is hard to believe, but that is my estimates.
Many claims were duplicate claims and many more were disputed. CCTYQ had an offshore Insurance Sub and is getting back nearly $16 million on that deal alone. Coupled with well over $300 million in duplicate claims. That is not including the claims that have been disputed, rejected, or resolved. Much more positive things happening in the BK filings.
The real big kicker, Salinas, the Mexican billionaire sitll owns all of his shares. Why is this important? Salinas and CCTYQ struck a deal that required him to sell majority of his position. He is required to sell them in the open market. He does not know who is purchasing them.
The real signifance of the deal; in the filing it distintcly states: Salinas will be the first to get paid. "he will recieve plus his commissions up to the price he paid for his stock". Guess what? His average price is around .20/share
It goes on to say, "any profits he makes from the sell of his stock will go to charity".
That in itself tells me we are going a lot higher than .011.
Just my opinion
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