GREY:STPJF - Post by User
Comment by
monzieon May 30, 2014 8:00pm
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Post# 22617184
RE:RE:who is shorting there position?
RE:RE:who is shorting there position?
Nike, by reminding people you sold makes you an even bigger ass :). I don't think the commons are dead in the water here tho. I don't see how an offer of 20 cents or the company deeming that the commons are worth only 20 cents is possible. The closest debt due is 2 years from now for the debentures, 4 years for the senior notes, and 5 years for the new loan, and they have roughly 70 million in the bank. Not to mention that the company would need two thirds of the vote, and I highly doubt that the parties involved with the "project retail investor screwover" own 270 million of the outstanding shares. And the shares traded today are a long ways away from 270 million shares.
Heck even Yellow Pages was deemed to be one of the biggest shareholder shafts for a non bankrupt company and that stock has now quadrupled from when the restructuring was announced plus the bonus warrants. And the major difference is that STP has the ability to increase production and revenues/profits - Yellow Pages doesn't. It may not be the 50 cents I was hoping for but I'm convinced I will still profit nicely from whatever comes about next week - if in fact anything does. For all we know this could all just have been an end of month more than normal reshuffling of portfolios etc and the company is no closer to ending the strategic review than they were yesterday.