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WithCatz

08/22/12 9:14 PM

#374955 RE: iPrelude #374954

rubennaiz - I agree, philosophically. However, the OL still requires revenue and is time limited. For most companies, the OL is a smaller amount, and may be "doable" to be realized in a relatively short time period.


Here, while the number is quite large (potentially) the reality is - and the BoD has basically said so - there is little that can be done to generate billions of revenue to write off OL against -- it's just not possible/practicle to execute a "revenue" that doesn't also cause the Change in Ownership that kills off the rest of the NOLs.

The move to bring in Blackstone further, IMHO, telegraphs that they are after (as the 10-Q alludes) to the longer term NOLs, with the understanding that the short-term OLs may likely not be realized.

The factual basis seems to be that you can't, in the quantity of billions we're talking about, go after the OLs without killing off the NOLs.