RE:RE:RE:Allen!What is going on please god bring this stock back up!Pj1958 wrote: I meant 1st liens
Didn't read this before I posted. Yes, definitely, it is very hard to make a case for the equity having any value if $4B is ahead of it. Assets are not worth $4B. Last quarter had ~$1B in assets go poof with their writeoffs in both their N.American and UK drugs. It is obvious that even the unsecured debt is not fully covered by the bond trading. 22 cents on the dollar is absurd. When the bonds were trading at 12% yield last fall the shorts were going crazy and now they have a 50% yield