Interesting, look at UAUA Balance sheet and I found that a stock trading at $23 per share or market cap of $3.85 billion has a negative shareholder net worth of $2.8 billion
Dal has a shareholder equity of $245 million and a market cap of $9 billion
So I guess Mesa having a negative shareholder net worth seems to be not that unusual.
Further, Once all debt is recognized, balance sheet assets are in line with current business needs and the company can make $11 million plus per month, or $130 million or so per year, I think we can emmerge with shareholders in tact as long as the debtors agree to a payment plan over time in which they can recover payment in full.
This would be a win-win for everyone. The only reason to wipe out shareholders would be to try and not pay the debtors in full. This does not seem reasonable for the debtors to agree on given that they could recover full payment so quickly.
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