Your math does not apply in this situation. You have to add in forward loss, three part sale and the fact that this ship is sinking daily. If your going to use that math, you might want to adjust y our figures daily, you will be adjusting them right to $0
lol, you are not serious are you? the book value includes about 91M of inventory which they will be lucky to get 60M for. It also includes about 70M of fixed assets which could lose much of its value when they start closing stores. For the months of April, May and June they have been losing money hand over foot. The second they declared BK the value of the stock became worthless. It has been pointed out before, the book value of worldcom the day they stop trading was over $12.00 a share, the shareholders lost everything. These shares should be selling for under a penny, and will in a few days or weeks. Just like Enron or worldcom or others before them, some believe that a magic bullet will be found to save shareholder's equity. It aint going to happen. Within a few weeks they will stop trading and shareholders will lose eyerything.