Post by Admin on May 17, 2013 17:02:14 GMT -5
1. write email to:
brian.masumoto@usdoj.gov
www.nysb.uscourts.gov/content/judge-allan-l-gropper
Judge Allan L. Gropper
Staff Information
One Bowling Green
New York, NY 10004-1408
Chambers: (212) 668-5629
Courtroom: 617
Courtroom Deputy: Jacqueline DePierola
(212) 284-4042
Law Clerk: Lorraine Echevarria
(212) 284-4024
Law Clerk: Jaime Leggett
(212) 284-4043
United States Trustee Kodak
Ms. Tracey Hope Davis
33 Whitehall St.
21st.Floor
New York N.Y.
10004
Tracy Hope Davis, United States Trustee for Region 2
33 Whitehall Street
21st Floor
New York, NY 10004
Fax: (212) 668-2255
Attn:Brian S. Masumoto
brian.masumoto@usdoj.gov
Come on people, put some heart and emotion into your letters!!!
But here is a recent letter that I sent to the trustee that I think touched on all points:
Good Morning Brian,
I hope this email finds you well and in good spirits.
Brian, I am a long term Kodak investor, and spend every spare minute of my life for over the last year and a half researching Kodak along with hundreds of other people at the message board- kodak.boards.net.
This is a group of people who have come together to look at EVERY court document that is released. Every news story, every detail about Kodak.
We have discovered some very serious improprieties in Kodak's accounting of their assets that amounts to FRAUD!
I will outline them:
1) Kodak owns somewhere between 20,000 and 30,000 patents, but in the POR the company says they own 7,500 patents. Here is just 1 link to some research done about this, there are other topics covering this too:
kodak.boards.net/index.cgi?board=general&action=display&thread=5375
2) Kodak owns hundreds of land parcels all over the world, and has ALL of them on their books at ZERO, link here where you can pull down PDF court document:
kodak.boards.net/index.cgi?board=general&action=display&thread=5422
How can this land be worth ZERO?
3) Kodak sold 1,100 patents, and NEVER released the details of this sale, and we demand to know if there is future revenue from the sale of these patents.
4) Kodak has 76% of their company Not In Chapter 11, what is the value of these foreign subsidiaries? It has to be in the billions.
5) Kodak just dropped 2.8 billion liability from their balance sheet when they settled the UK pensions. This sale will result in future revenue from Kodak continuing to sell goods and services to these 2 spin off divisions. We demand the details on this.
6) Unipixel deal worth about 2.6billion per year in gross revenue that Kodak is sharing with Unipixel, here is a topic discussing this deal on message board:
kodak.boards.net/index.cgi?board=general&action=display&thread=5357
7) JK Imaging Consumer products deal, this has also been sealed, and there is surely revenue being generated here.
8) Kodak NOLs and foreign tax credits. Kodak NOLs has a cash value of about 2.8 billion dollars. Kodak management put poison pill in place to protect these NOLs. They are trying to fraudulently preserve these NOLs by giving the company to qualified owners of debt and circumvent BK laws by doing this! THIS IS FRAUD!!!
Attached find a few relevant documents, one outlines the patents valuation, another is our objections to this POR, Kodaks hidden assets and our own POR.
We feel as though Kodak's BOD has breached their fiduciary responsibilities to their shareholders, and has committed fraud by releasing this document which is not an accurate and true reflection of the assets of this company.
We feel as though Kodak BOD has made a deal to give away the entire company to bankers and hedge funds for these loans. The one that is obviously the most corrupt and fraudulent is the 375 million 2nd lien loans, which for this amount of loan, they are being given 85% of the company! Kodak has on hand about 1.2 billion in cash! They can write a check for this amount, and keep the 85% stock they are giving away! They are also going to receive 848 million in new money for exit financing upon leaving bankruptcy. They will have almost 2 billion in cash!!!
Kodak says the Goodwill of the company is worth 200 million, when the real number should be well over 1 Billion if not 2 billion. For the amount of assets and resources this company has, and its future prospects to bring in good revenue once they leave chapter 11, there is no way they are only worth 200 million in Good Will.
Kodaks POR gives the company a multiple of 2 X ebitda, when this company should have at least a 10 x ebitda. Other similar companies are valued at 20-30 X ebitda, so how can they value Kodak coming out with a clean balance sheet 2 X ebitda? It is fraudulent, and not true!
You can NOT continue to turn the blind eye and allow this to happen to the shareholders, THE RIGHTFUL OWNERS OF THIS COMPANY!!!
If you do, you will have breached your responsibilities to protecting the shareholders.
Please do the right thing and bring to Honorable Judge Groppers attention the need for an EC presence for the shareholders and start a 3rd party valuation of ALL Kodaks assets.
With all due respect and well wishes
Read more: kodak.boards.net/index.cgi?action=userrecentposts&user=admin#ixzz2Tada0dEP
SBG
brian.masumoto@usdoj.gov
www.nysb.uscourts.gov/content/judge-allan-l-gropper
Judge Allan L. Gropper
Staff Information
One Bowling Green
New York, NY 10004-1408
Chambers: (212) 668-5629
Courtroom: 617
Courtroom Deputy: Jacqueline DePierola
(212) 284-4042
Law Clerk: Lorraine Echevarria
(212) 284-4024
Law Clerk: Jaime Leggett
(212) 284-4043
United States Trustee Kodak
Ms. Tracey Hope Davis
33 Whitehall St.
21st.Floor
New York N.Y.
10004
Tracy Hope Davis, United States Trustee for Region 2
33 Whitehall Street
21st Floor
New York, NY 10004
Fax: (212) 668-2255
Attn:Brian S. Masumoto
brian.masumoto@usdoj.gov
Come on people, put some heart and emotion into your letters!!!
But here is a recent letter that I sent to the trustee that I think touched on all points:
Good Morning Brian,
I hope this email finds you well and in good spirits.
Brian, I am a long term Kodak investor, and spend every spare minute of my life for over the last year and a half researching Kodak along with hundreds of other people at the message board- kodak.boards.net.
This is a group of people who have come together to look at EVERY court document that is released. Every news story, every detail about Kodak.
We have discovered some very serious improprieties in Kodak's accounting of their assets that amounts to FRAUD!
I will outline them:
1) Kodak owns somewhere between 20,000 and 30,000 patents, but in the POR the company says they own 7,500 patents. Here is just 1 link to some research done about this, there are other topics covering this too:
kodak.boards.net/index.cgi?board=general&action=display&thread=5375
2) Kodak owns hundreds of land parcels all over the world, and has ALL of them on their books at ZERO, link here where you can pull down PDF court document:
kodak.boards.net/index.cgi?board=general&action=display&thread=5422
How can this land be worth ZERO?
3) Kodak sold 1,100 patents, and NEVER released the details of this sale, and we demand to know if there is future revenue from the sale of these patents.
4) Kodak has 76% of their company Not In Chapter 11, what is the value of these foreign subsidiaries? It has to be in the billions.
5) Kodak just dropped 2.8 billion liability from their balance sheet when they settled the UK pensions. This sale will result in future revenue from Kodak continuing to sell goods and services to these 2 spin off divisions. We demand the details on this.
6) Unipixel deal worth about 2.6billion per year in gross revenue that Kodak is sharing with Unipixel, here is a topic discussing this deal on message board:
kodak.boards.net/index.cgi?board=general&action=display&thread=5357
7) JK Imaging Consumer products deal, this has also been sealed, and there is surely revenue being generated here.
8) Kodak NOLs and foreign tax credits. Kodak NOLs has a cash value of about 2.8 billion dollars. Kodak management put poison pill in place to protect these NOLs. They are trying to fraudulently preserve these NOLs by giving the company to qualified owners of debt and circumvent BK laws by doing this! THIS IS FRAUD!!!
Attached find a few relevant documents, one outlines the patents valuation, another is our objections to this POR, Kodaks hidden assets and our own POR.
We feel as though Kodak's BOD has breached their fiduciary responsibilities to their shareholders, and has committed fraud by releasing this document which is not an accurate and true reflection of the assets of this company.
We feel as though Kodak BOD has made a deal to give away the entire company to bankers and hedge funds for these loans. The one that is obviously the most corrupt and fraudulent is the 375 million 2nd lien loans, which for this amount of loan, they are being given 85% of the company! Kodak has on hand about 1.2 billion in cash! They can write a check for this amount, and keep the 85% stock they are giving away! They are also going to receive 848 million in new money for exit financing upon leaving bankruptcy. They will have almost 2 billion in cash!!!
Kodak says the Goodwill of the company is worth 200 million, when the real number should be well over 1 Billion if not 2 billion. For the amount of assets and resources this company has, and its future prospects to bring in good revenue once they leave chapter 11, there is no way they are only worth 200 million in Good Will.
Kodaks POR gives the company a multiple of 2 X ebitda, when this company should have at least a 10 x ebitda. Other similar companies are valued at 20-30 X ebitda, so how can they value Kodak coming out with a clean balance sheet 2 X ebitda? It is fraudulent, and not true!
You can NOT continue to turn the blind eye and allow this to happen to the shareholders, THE RIGHTFUL OWNERS OF THIS COMPANY!!!
If you do, you will have breached your responsibilities to protecting the shareholders.
Please do the right thing and bring to Honorable Judge Groppers attention the need for an EC presence for the shareholders and start a 3rd party valuation of ALL Kodaks assets.
With all due respect and well wishes
Read more: kodak.boards.net/index.cgi?action=userrecentposts&user=admin#ixzz2Tada0dEP
SBG