So help me understand what's going on here. As far as I know, the problems are that Smulyan might try to steal the company, and that the preferred holders might win the appeal. Is there anything else? Because ... I don't know. Say WRKS is worth $80MM. Emmis gets it back in 12 years. Discount that at 12% and you're looking at $0.50/share. For one asset. What am I not getting?