Firedog, they gave it away.....Sat on it too long. Less than $1 million...... Ouch! Firedog was one the cards I thought they would play where they were going to try to spin it off some fashion or another and use the shell to do so. Too much legal wrangling. Who knows. They dropped the ball on it IMO. It was one of the last assets they had to sell except for real estate.
Like I said,
1. August, Less than $50 million on the books
2. September, over $300 million on the books now. That is $300 million cash, in the bank!
3. another $73 million this month.
Now they are sitting on well over $376 million in cahs.
That is why I jumped back in.
Is it going to be enough is th the big question.
Where did all this money come from? Why was it not included in accounts receivables on that hteir balance sheets?
How much more money is going to hit the books in CCTYQ's favor?
For those who are reading the balance sheets, don't accept the fact all the liabilities need ot be covered in full. Remember they are in Chapter 11.
Many of those debts have already been negotiated for @ .20/dollar.
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