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sidekick robin

07/30/11 11:05 PM

#89 RE: Madclown #88

shocked that the results of the auction are not public yet.

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Around The Clock

08/01/11 1:51 PM

#91 RE: Madclown #88

Can you simplify why HEARQ went up today lol? Also how did you find out about it -- was it through their filings?
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mrholty

08/01/11 11:55 PM

#108 RE: Madclown #88

Looks good. Congratulations. Best article I think I have found.

http://www.bizjournals.com/southflorida/news/2011/08/01/siemens-wins-bidding-for-hearusa.html?page=all

Total Value of $129.3

Cash in the amount of $66.8 million, including the repayment of a $10 million loan from William Demant Holdings that HearUSA used to fund its operations during the bankruptcy.
A credit bid of $30.7 million based on Siemens’ secured claim against the debtor.
Assumption of liabilities and court costs of about $11.7 million.
Waiving the distribution of its ownership of HearUSA stock, which is worth $6 million to $7 million.

Adding this up gets me to $116.2 short of the $129.3. But lets use that. Using only the cash less the $10M DIP gets you to $56.8M. Subtracting out the value of Siemens 6.4M shares from the 45M outstanding shares gets me to about $1.47/share.
$56.8M/38.6 = $1.47

Any thoughts on how my math looks?