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  • nogoodpete nogoodpete Mar 28, 2013 1:11 PM Flag

    Someone please explain what value the common will have after emergence from chpt 11


    Have not seen this discussed. I've heard figures ranging from around $2 up to as much as $4. Please someone explain.

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    • Value? That's a joke, right?

      Sentiment: Strong Sell

    • $5 to $10 per share, depending on what they get for all the patents and assets.

    • ZERO!

      Shareholders equity is derived from having assets/cash flow that is greater than liabilities/ service liabilities

      Kodak's liabilities EXCEED assets by appx. $2 BILLION!!!

      Therefore, there is NEGATIVE equity, which means that creditors do NOT even get close to having their valid claims satisfied.

      Because Kodak can NOT satisfy creditor claims in FULL, there is NOTHING, NADA, ZERO, left over for current shareholders.

      Current shares will be CANCELLED!

      New shares will be issued to satisfy UN secured creditor claims....

      UN secured claims are trading at 12 to 13, indicating that current shareholders are OUT of the money, by OVER $1 BILLION.

      Retail boneheads around the world are trading Kodak shares because they do NOT understand the basics of BK.

      Your question is PROOF positive that the average person has ZERO understanding... and if they hold Kodak shares, will ultimately get ZERO.

      • 1 Reply to viclobserver
      • EXACTLY... when the unsecured bonds are trading at .13 on the dollar which get paid before any shareholder equity, there is no shareholder equity. NADA. Recent SEC filing clearly state that current common shareholders are unlikely to receive anything. I don't know why retailers are so blinded sometimes- I guess they all dream of "getting rich quick" and get lost in wild fantasies rather than digesting the facts. Today's action simply sucks in more naive buyers who will certainly lose 100% unless they gambled at .25 and sold at .30-.45.

        Long term holders waiting for the reorganized kodak are toast.

    • tripods Mar 28, 2013 2:23 PM Flag

      The super longs preach many dollars. Many others say it will go to zero. Both stances have been mentioned for the last 2 years. Since nobody really knows the price varies radically. I have in my IRA a stock that the 500 shares are worth zero. It was like a Kodak type "turnaround" of 14 years ago. I purposely leave this 1000 buck mistake on y statement to remind me that "turnarounds and bankruptcies" sometimes fail. The super longs still worship the CEO Perez. Under his helm Kodak's stock has dropped about 130 X. Its dividend was cut to zero. He was being flow to Spain on private jets while the company lost money. Still many worship his rear end while he has ruined an icon.