if thisanus had all these skills that he talks about why is he on this board everyday...doesn't thisanus have a job to go 2..also if hes such a reading guru, why cant he read the instructions the doc gave him on his itchianus prescription
Jose..im down 9 grand...no fun...I only have a few grand left so I just keep it to harass folks like u and flank..i do know how to read financial statements.but u apparently don't know how to read the instructions on your itchyanus cream...did u follow the instructions uanus?
I own the unsecured bonds,,my average cost basis is 15 cents...all bonds trade at par when issued at 100 cents..i bought these bonds when they were trading at distressed levels..i fear that I may not get the full 15 cents..but for you guys to get even 1 penny, I need to get 100 cents and that's almost an impossibnility
there is currently 500 million of unsecured debts ahead of the common...based on the close today the total market cap of that 500 million is 27 million...but the total market cap of the common equity is 18 million..
basically the market is behaving like even though the unsecured claims will not even recover 6% of theIr TOTA;L value, the equity will get almost 20 million....i have news for all you equity holders...YOU WILL BE TOTALLY COMPLETELY UNEQUIVOCALLY AND UNRECOGNIZABLY WIPED OUT
No judge in this country will give 1 penny to you guys unless our group recoevers almost 20 times where those unsecured claims are trading for now..and i have news for u..thats an impossibility
beetle..exactly...our group(unsecured creditors) would have to recover 500 million..thats almost a virtual impossibilty...the shareholders on this board are in for a very rude awakening and it will be alot sooner that they rea;ize
If SG doesnt get the go ahead, the risk is so great due to the massive suits they will be facing etc etc...and they wont get their gem..the newco RSH....there wont be any delays .Monday is do or die as 16 million is rent is due on the first
doubtful...there is a trio that is behind the new offer...the 4 or so liquidation companies..and salus..my feeling is that these liquidation companies dont have the capital to front for the offer so they have cut a deal with salus, promising them double their money if they front the cash...lets be honest about this...salus isnt interested in getting their loans paid back as they are saying they are..they want to make a big profit off this...thats what is going on here
this is big news as if it is a genuine offer, then radioshack will be liquidated..recall that yesterday the unsecured creditors committee supported the SG bid...that is extremely significant as that means the committees claims MUST HAVE BEEN settled with both the insurance carriers of SG and RSH..there is most likley 200 million of insuarance coverge...If the court rules in favor of Salus...then the SG offer goes away and thus the litigation to reciover damages against RSH and SG IS BACK on the table..long story short...this would be a nightmare for all those hedge funds..they dont get the new company and instead are now facing massive lawsuits that may drag on for a long time..I predict that SG WILL COME BACK WITH A SUPERIOR OFFER..why???THEY HAVE TOO MUCH TO LOSE
between this price action today and the upcoming NCAA games this weekend, Jose'sanus might just give way..hot spicey chicken wings, ice cold beer and a fear that locm corpse may do a dead cat bounce will have jose running to the pharamacy for that iychianus cream...
If Shanno doesnt decide Monday, then RSH will just get stuck with these payments..payments it does not have..such that they will just be added to the 500 plus million dollars of unsecured debts
caveat..why did these hedge funds lose over 140 million that our group could have recovered..?? when they made the loans in the fall of 2014, all the signs pointed to an eventual insolvency..RSH was already losing over 1 million a day..yet they loaned them money..and then 4 months later still had to file bk...so that delay of 4 months those 8 hedge funds by delaying the inevitable were compensated40 million in financing fees to close a loan deal and proximately caused the continuing loss of 1 million per day until bk was filed 4 months later..or a total of 140 million..i am certain that these funds have been approached and threatened with massive bad faith suits unless their ins carriers settle...stay tuned i still am predicting a small recovery for our group
good question...SG also owns unsecured bonds...what happens to those? they paid about 20 million for those shares...SG will have to live with the facts...the shares will be worthkess
they have 190 million in the bank now...they could use 100 of that to take out way under par bonds totalling 150 milllion...the shares would jump by 2 dollars overnight...as much as i couldnt stand the last team, at least they did these voluntary buybacks....these new guys are way worse
the wall street journal is now reporting that the unsecured creditors committee has backed the SG deal..that can only mean one thing..radioshack and all the hedge funds have settled or at least signaled asettlement .with the unsecured bind holders.....talks are now continuing to get salus on board..SG's counsel has said that there is enough money to pay sdalus in full, so salus's point is moot..still predicting that the unsecured bonds will get 15-25 cents and the shares will get wiped out
True..but salus has said that 129 million of its 271 million , that is already in the hands of standard general, needs to be disgorged and paid over to salus....that wont happen
with that said......I am still standing behind my prediction that the secured creditors will be paid in full..the unsecured bonds will get 15-25 cents,(out of 100 cents of course) and new shares will be issued to the auction winner-Standard General,....and the CURRENT shares held by folks on this BOARD WILL GET COMPLETELY WIPED OUT