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Solazyme, Inc. Message Board

mikemint1 4 posts  |  Last Activity: Feb 26, 2014 9:29 AM Member since: Mar 28, 2012
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  • Reply to

    CASH POSITION

    by sixfoot_flat Feb 26, 2014 4:27 AM
    mikemint1 mikemint1 Feb 26, 2014 9:29 AM Flag

    I don´t know if it can happen. But for sure, we know the have more potential available cash on those restricted to sell claims so not sold yet (the first sales came from dutch auctions, so I think it is possible to read on the news about it). Its difficult to believe they sold 7B without reporting it.

  • Reply to

    CASH POSITION

    by sixfoot_flat Feb 26, 2014 4:27 AM
    mikemint1 mikemint1 Feb 26, 2014 5:36 AM Flag

    Maybe a lower stake, but from docket 38955, May 2013, BS

    "In May 2013, the Company announced that it intended to explore monetization opportunities related to its general unsecured claims against LBI (“GUC”). In a series of three sale transactions in May and June 2013, the Company sold approximately $7.1 billion face amount of its GUC (approximately half of the Company’s GUC) for total proceeds of approximately $3.2 billion. In connection with these transactions, the Company has agreed not to transfer, assign or participate any of its remaining general unsecured claims against LBI prior to December 15, 2013 and at least $2.5 billion of such claims for eighteen (18) months from the closing of the transaction."

    So, it seems there are pending liquid assets to sell. 18 months mean untill Aug 2014. So, we can see a 6th distribution.

  • Reply to

    CASH POSITION

    by sixfoot_flat Feb 26, 2014 4:27 AM
    mikemint1 mikemint1 Feb 26, 2014 5:21 AM Flag

    What did happen with the almost 10B pending on claims against LBI? I think it wasn´t already sold..They did sell lower priority claims at 50% value on 2013, but there was a restriction about this till december.

  • mikemint1 by mikemint1 Jan 31, 2014 10:10 AM Flag

    Is there any news expected?

SZYM
11.21-0.23(-2.01%)Apr 17 4:00 PMEDT

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