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Comdisco Holding Company, Inc. Message Board

  • bbmrly bbmrly Sep 5, 2008 1:04 PM Flag

    paying CDCOR holders 2.8 cents

    CDCO is paying CDCOR holders 2.8 cents 9/25.

    Liability to CDCOR holders listed 6/30/08 = 16.8M/148.4M = 11.3 cents (doesn't include 2.8 cent payment).

    Liability is probably understated as book equity on 6/30 is more like 64.9M without CDCOR liability (also doesn't include 2.8 cent payment).
    Knock off 10M for windup expenses (which seems awfully high) and you end up with 55M * 37% = 20M or 13.7 cents.

    Any win in the litigation trust is a bonus as CDCO must pay 59% of any win to CDCOR holders. The lit trust is suing for over 80M, but unlikely to realize any more than 10% of that or so after all expenses. Every 5M payout would mean a 2 cent bonus for CDCOR.

    So buy CDCOR today for 10 cents, get 2.8 back in a month, and double your money from there in a year or two.

    Conversly CDCO is probably a sale with 35M over 4M shares with the small risk of a big lit trust liability.

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    • I received the .0225 dividend in my AMTD account this am, but not the .006 payment. Now we are back to pre-divvy levels. Who said markets were efficient?

      (Btw, full disclosure; I posted the preceeding as bbmrly - I couldn't get access to my old sign in).