363 will wash assets clean so Jackson doesn't have to worry about contingent liability from any parties. Crusader can still go after WHAI shell but what will be left. If anyone is still thinking that this company sold for 43 plus 37 debt and the stock is going to 80 cents then please explain why people aren't grabbing these discounted shares. People at WHAI and Jackson would have known of the deal and been able to give some warning to buy. It seems the only question is how does the 6 million left over get broken up? Is Jackson picking up the acquisition debts and how much does WHAI owe to process liquidation?
And asset sale means asset sale. The receivables are not going to be staying behind. Nor are the desks, chairs, telephones or filling cabinets. Anyone who thinks that Jackson paid 43 million for goodwill should quit playing the market and start playing the lottery. The company only had 60 million on the books for good will to start and I'm sure we would all consider that impaired by now.
I do wonder what happened to the 60 million number that was being kicked around. Company must have had more issues than thought to wind up going this cheap. Circus, whats your feeling now? Still feel confident that the company is in good hands and buying more shares?
Jack
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