RE:RE:RE:Rad10: You seem confident in what you're saying....So much silly talk - let's wait til the q4 comes out see how much cash they have left and take it from there. Sure i wrote Off 50 k on the common stock - but would have lost 300 if i hadnt bailed when I did. It was a paired trade that was short valeant so not quite as painful as some would like. I sincerely wish people well. - just call things the way they are and stop BSing.
Thanks to Lattice, veritas and Cohodes for helping me preserve the bulk of the position.
fact 1 as i have always consistently stated - there is "no deal". Fact 2 the sweet spot if you wish to speculate is the unsecured notes - because they are in default there is no interest prepayment and you can pick up 100 k face value for a few cents on the dollar. You may recover 15 - 20k plus the accumulated interest, or you may fare even better with newly issued common stock post recap (not the current shares). Fact 3 - if you wish to grow your wealth the secured notes is the best place to be on the ship Concordia. Steady 10 - 11% yield and secured status with adequate asset coverage.
to each their own and good luck.