from what i see the shares are supposedly going to be cancelled but no confirmation? or is it confirmed?
also I doubt getting a lawyer will be worth investing in further? You're going against a company that has a firm backing their case and I would assume their lawyers would have done the homework prior to allowing the company to cancel shareholder shares? Thus it most likely would be a waste of your money to invest further in a effort to sue? just a thought.
I really don't understand this too much. It is that Kodak is going to "delete" our shares and give us whatever value in cash at the time of deletion? Why can't Kodak honor our stocks when they issue new shares? I don't know much about the subject, but I've owned Kodak stock since 2004 and held on to them believing the Company would recover, and now this... MM
We can see that reporters know nothing about security values. This guy thinks New Kodak's value will be equal to the market value of current common shares.
I can't blame him. Kodak BOD thinks that $441M 2013 book value after re-organization will be the value of New Kodak.Of course, they do that on purpose. I don't think they are that stupid.
What will that new Kodak stock be worth?
Here is the section from the article....
The first three months of 2013, Kodak shares averaged 20 cents apiece. With 271 million shares outstanding, that gave the company a market cap of about $54 million.
Kodak will issue 40 million new shares to pay back its various creditors. So that market cap divided by 40 million means it wouldn’t be unreasonable to expect Kodak shares to trade, at least initially, at around $1.35.
Post by mistermiracle on May 3, 2013 14:50:06 GMT -5
Today, Friday May 3rd, at the "How to Invest" tab of the Kodak Investor Center Page at Kodak's website, the Company is inviting public to invest in CURRENT Kodak stock and gives the public information on current stock value....
There is no information or warning that current stock might be cleared out soon...