Replies to post #5098 on Dime Bancorp Inc (fka DIMEQ)

[CDrucker]

Jarad,

Why does the proper conversion rate, as stated in the warrant agreements no longer apply???

We get converted to common based on the 30 day average price of the common. Even the UCC attorney speaking against us at out trial's most recent closing arguments said this is how our claim should be calculated, using WAMUQ's closing prices.

So, based on an assumed 7 cents wamuq 30 day price, that gives us 337MM / .07 = 4.8BB common shares. Considering there are currently 1.7BB common shares outstanding, we get 4.8/(4.8+1.7) or 74% of the common equity pot (which is values at $57MM worth of newco) , or $42MM. Divide into into 113MM LTW = $.37 / LTW.

(This is of course, assuming we lost our adversary proceeding and were deemed equity.)