Single largest creditor Poof- gone! $2.8 Billion of Liabilities GONE!!!
$650 Million Kicked back to Kodak.
Licensing for other items including the Kodak name and who knows what other back and raw materials and such they will provide for the support of the businesses.
So lets do the Math $1.2 Billion in Cash, plus $650 Million, Plus How much of that exit financing do they get to keep, I think $460 million if I remember correctly. So thats $2.31 Billion in cash that they can use to pay down X.
Then lets start looking at the Balance sheet some more.
How many things have been carried on the balance sheet at $0?
3) Buildings at the price they were bought, some bought MANY years ago.
I am sure i am leaving some things out.
Anyway, you get the picture there, the numbers will change very quick, especially when you do proper valuation of assets.
Then on top of that you have $5.1 billion in NOLs.
Contrary to some Parrots here NOLs actually mean something to businesses that are actually going to be an ongoing business.
You see Enron, Worldcom, Nortel, they were full liquidations so that is not a fair comparison, but some people don't have the ability to see things in reality. GM, that was also a BS comparison as the Gov came in and said immediately we are bailing you out and we are wiping the common and the bonds.
We will be just fine guys, just fine, diluted, but fine.