Sir, Do you happen to know any other public companies that are an MLM model? I dont do Options at the moment.
So what will happen to the stock pumpers and marketers that still owned shares?
She said once all the claims were settled and paid out there would be nothing left over for the common share holders and they would be cancelled.
Item 2.01. Completion of Acquisition or Disposition of Assets.
On April 26, 2011, Blockbuster Inc. (the "Company") completed its previously announced sale of substantially all of its assets to DISH Network Corporation
("DISH") pursuant to an amended and restated asset purchase agreement dated April 20, 2011 (the "Asset Purchase Agreement"), in a sale conducted under
the provisions of Section 363 of the U.S. Bankruptcy Code and approved by the U.S. Bankruptcy Court for the Southern District of New York (the
"Bankruptcy Court") on April 7, 2011 (the "363 Sale").
Pursuant to the terms of the Asset Purchase Agreement, DISH paid $320.6 million. The Blockbuster estate will receive approximately $226 million in net
proceeds, after certain purchase price adjustments and subject to a post-closing reconciliation of cash and inventory, which will be used to satisfy the claims
of the Company's creditors in the manner previously approved by the Bankruptcy Court.
The Company anticipates that there will be no remaining proceeds from the 363 Sale available for distribution to any classes of the Company's preferred or
common stockholders and that all classes of stock will be cancelled in connection with winding down and dissolution of the Company.
Netflix Raising prices; Blockbuster entering the stage with free trials; Netflix trying to get content licenses; Blockbuster already has this; its gonna be some great competition!!
I think Blockbuster will win!
The stock should go to around 10 a share now that BBI will obtain customer defection and marketshare.They were just late to the show.
Bankruptcy Auction = cleaned the books
DISH = Technology Platform
Stock = current stock infrastructure will be kept and re listed to Naqdaq
Anyone in now looks to gain a small fortune
Blockbuster is a huge name and license contracts to DISH
everyone will know the name once DISH gets the marketing started.
Blockbuster division = 10 dollar stock one day...