Connie,thanks for posting. I see you have been in for awhile. The most important piece of information is we have is no BK. That is an admission from the company that A>L. So, the question is by how much. Second piece on information is included in their last 10Q posted on 9/25/2009 which includes $150MM in NOL's (net operating loss) for the year 2009. At a 35% tax rate that equals a value of $50MM. They can go back over the last 3 years and get a tax refund or merge into a new company and give them the break. Good news here is CORS commons must accompany the NOL's for them to be effective. Lastly, we have uncovered 3 properties which escaped FDIC seizure. They were in escrow or held by a third party at time of seizure. They are worth around $200MM. Some is in cash the rest real estate. At a discount say $150MM. So, we have a total value of $200MM that equals $4/s. As to when something will take place, I see it like this. Somebody, I call him Mr. Big has bought a tremendous amount of shares on the open market. You will recall all those days in August and September when the bid was rock solid. Millions upon million of shares were dumped (Glickman) and the bid didn't change. Whoever own's CORS will want to capitalize ASAP. That is what Michael Minnaugh said in his 11/10/2009 10Q delay filing; "We are working on various possibilities." If they were broke there would be no possibilities. They could merge or re-invent themselves. Only time will tell. The silence is hard, especially with so many paid bashers, but the end result should be very rewarding.
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