Seanoise you know a lot..lther are two things i dont understand.:. one is why go to the bother of writing down the NOLS any way? Does it cost to keep them on their books ? What difference did it make for them...(they put effort into this for sure). Secondly i dont understand why Paulson would as far as engaging in illegal share parking when her transferred shares to his lawyers? He knew shares were going to be cancelled ....why not just sell the lot on the open market ?
New Message board formatting on PC is challenging. I am wrting from phone.Yes in fact we are getting some traction but a solution is not necessarily iminent or certain.
Did they discovery an error because they do not have taxable income ? Surely the NOLS are what they are even if the company does not have taxable income . Why go to the trouble of " discovering" an error in the year 2010? Also their account would have been audited a few times since 2010.
in the later part of form 8K files 12/06/12 lender discussion material, financial overview, page 18. How about that ?
Davephili 10 I think you have a good point.
Try writing to the US TRUSTEES about this. It will not cost you any thing and who knows. The confirmation hearing is on Friday next week so time is running out for the shareholders, Give it a shot.
In the cited filing DEX MEDIA announces they have detected an tax accounting error for fiscal year ending 2010 and claim inability to file 10K.
In the subsequent disclosure for joint prepackaged plan dated May 2nd they estimate their NOLS as being only $317M when in September 2015 they stated NOLS were $875M.
Any ideas to why the NOLS have been written down by $558M ?
I wonder why the company would go to the trouble of discovering an error from 2010 and then.... disclose the mistake.... I thought they would be too busy looking after the existing business.
see the "DISCLOSURE STATEMENT FOR JOINT PREPACKAGED CHAPTER 11 PLAN OF REORGANIZATION OF DEX MEDIA, INC. AND ITS DEBTOR AFFILIATES" page 2 on the introduction , 3rd paragraph:
As of December 31, 2015, the Debtors were in breach of their covenants under two of their secured credit facilities. As described below, however, the Debtors entered into a forbearance agreement with their Term Loan Lenders regarding such breaches, as well as the breach arising from the Debtors’ decision not to make the October 2015 interest payment under the Subordinated Notes.
Good question. They don't say which covenants are breached and neither on which silos. Have faith !!! You can read that a breach occurred in the introduction in the disclosure for the prepackaged plan date May 2nd. I like how the we shareholders are getting wiped and we don't even have any details...
What are the minimum financial requirements DXM has to meet it's financial obligations and comply with covenants ?
What are the specified financial ratios and agreements governing DXM's indebtedness ?
Do you know where these can be found and referenced and so that an investor can put into perspective and evaluate the probability and risk of a breach ?
When did DXM advise the first time a there was a risk of a covenant breach ? When the shares where at $ 0,30 ?
What is usefulness and purpose of investor presentations reporting at performance at company level when the risk of covenant breach is at silo level ?
How could an investor understand if there was asymmetry in silo performance when investor presentations where at company level ?