I don't know if we will see the ACTUAL amount. Only insiders will see it. What we will see is the March numbers come Mid May. Most of the debt has been pretty much resolved in the claims. The balance will reflect pretty close to what we can expect as far as shareholders are concerned, plus the sale of the IP, plus the rev from the Sub whichs is about $20 million. There will be a few tax credits added in there too.
Now, if they do another GAAP accounting in March, we could see even more in our favor.
In the 8-k numbers, they had $20 million set aside to address the real estate claims which were mostly for November. Most other real estate leases had been paid in full each month with the LOC.
End of Feb., we were looking @ $47 million, plus the $20 million set aside for the leases. The bank also had $60 million still in the bank for the creditors.
It is safe to say, the $47 million plus the $20 million sub gives us us about $67 million. I am expecting about $20 million from the sale of the IP. That is about $87 million.
I come up with about .50 x 168 million shares, gives us $84 million.
If they announce they are going to pay off the commons, they will most likley announce that with a given share price. If they announce a PR without announcing a share price, then a $1.00 a share is not out of the question. Especially if the shorts are still shorting it.
How do I know there is going to be any money left over at all? I am seeing these late claims rolling in. I am betting a few folks were to lazy to file the neccessary paperwork because they thought there would be nothing left over. Well, CCTYQ sent out last month and new revised Reorg plan to all of their creditors. They were obligated to send them out to even the creditors that didn't file any claims. Now those scragglers are getting rejected by the courts which means even more money for DA LONGS! We are not privy to the new Reorg plan. If it is the DOC I am thinking it is; we will be privy to it the end of June.
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