Doesn't that go to secured holders of debt ? What is left for commons shareholders and why do you longs think you will get anything. There is about 125 million shares outstanding ? If they have 700 million in debt that would be $5.60 a share to just pay off debt. Can we do the math without bashing ( yeah right ). If it has been done already excuse me. Let's do it again. Thanks
unless they complete the transaction. Meaning they HAVE to buy the shares and deliver or the value they have built uo in their accounts is just a number (credit ) but not accessible. They have to buy it to get their profit. That said the stock and company ultimately ( like Enron even not yet ) can been deemed worthless, but that takes years. The bottom line is the stock will have to be bought back by shorts and that in itself will create demand notwithstanding the financial condition of the company.
yes I sold at a loss back at $4. Can't win them all. Will try to recoup some of the losses now. We will see. Not saying you should or shouldn't. Just what I did. Good luck to all. Maybe we'll get some pennies back :)