Replies to post #6366 on TerreStar Corporation (fka TSTRQ)

[trader111]

No, the Corporation holds TerreStar Networks...so all the money which will be paid goes to the Terrestar Corporation! So only the Liabilities of the TerreStar Corporation are relevant, dont get that wrong...

[TSMoney]

I can answer this one for you. The notes owed to TSC from TSN were unsecured. TSC will recover $4M of this debt according to TSN’s motion on 7/6. The 89.3% equity TSC owned in TSN is worthless, they can’t even pay all of the unsecured creditors so it’s irrelevant whether TSC owed common or preferred shares (see page 36 of the following link for details):

TSN creditor repayment plan: http://terrestarinfo.com/pdflib/662_15446.pdf

And before anyone says that doesn’t matter since TSC has positive shareholder value of $246.4M, I’d go back and look at their May MOR carefully. Notice how much of their assets are tied to TSN. The $63.7M in “Notes due from Terrestar Networks” will disappear when the sale is complete and TSC will show an extra $4M in revenue that month. We also don’t know which affiliates owe the $162.6M to TSC. My guess is that at least $59.5M of that was from TSN since they showed $116.4M ($52.7M + $63.7M) in debt owed to TSC on their own May MOR. TSC only filed a claim for $56.9M of this for some reason. And this doesn’t even address the $322.4M in “Equity investments in affiliated companies.”

TSC May MOR: http://terrestarcorprestructuring.com/pdflib/116_10612.pdf

TSN May MOR: http://terrestarinfo.com/pdflib/636_15446.pdf

The DD around here, and I use the term “DD” loosely, has been downright laughable. At least some people like db_s99 and bkstock08 are starting to move in the right direction. The pie in the sky predictions have to stop though. There is currently a sticky with scenarios where TSTRQ is worth $6.29 and $11.22. If you believe that then I’ve got some beachfront property in Arizona to sell you. Lol

Folks, there’s a reason this stock is at 2 cents and it has nothing to do with manipulation. I’m sure I’ll be labeled a basher, but I’m nothing of the sort. I’m speaking verifiable facts here. This isn’t some stinky pinky where you have no idea what the company actually does. In some way these bankruptcy plays are the easiest. The info is all there, you just have to know what you’re looking at. Maybe if I get some time later I’ll put together a real DD summary.