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Kodak (EKDKQ.PK) files an emergence performance plan with a bankruptcy court in New York that...

Kodak (EKDKQ.PK) files an emergence performance plan with a bankruptcy court in New York that spells out potential compensation for its management team. At last look, the company had $574M in cash and was showing close to a $20M per month loss, although it has been cleared to sell patents and start the process of paying off creditors.
Comments (6)
  • The auction is nealy over...The buyers are placing their bids. A new Eastman Kodak to arise from the ashes of coating alleys destroyed...long live EK!!!
    11 Jul 2012, 01:21 PM Reply Like
  • Not sure where you are getting the $574M in cash? Note that the foreign subsidiaries of EK are not in bankruptcy - therefore monthly operating reports (if that is where you got your figures) filed with the Court only reflect the balance sheet and operations of domestic portion of the business. Kodak does however still file 10Qs and 10Ks with the SEC that have consolidated results. According to the last 10Q filed on April 27, 2012 for period ended March 31, 2012, the Company had $1.361 billion in cash and equivalents.
    11 Jul 2012, 01:34 PM Reply Like
  • Sorry state of affairs, If Kodak had so many great patents, why didn't they use some to grow the company into the future. Great on innovation,so poor on implementation!
    11 Jul 2012, 01:59 PM Reply Like
  • I agree with SSM that Kodak has more cash internationally than just the domestic cash on the books at the end of May but where are you getting the $20 million a month loss figure from. in Q1 the loss was $366 Million and for the following 2 months the loss from US operations totals just over $179.6 million or a loss of about $90 million a month.

     

    I know Kodak is saying they'll net about 3 billion for the patents that they have been trying to unload for some time now, assuming they get exactly what they think they'll get Kodak should flourish into 2013 :) of course not much of what Kodak has said is coming true so far.
    11 Jul 2012, 02:37 PM Reply Like
  • Has Apple finally given up on picking the bones of Kodak and its bondholders?

     

    How much will Kodak actually get for its patents?

     

    Is there any chance that stockholders will recover any cash?

     

    How are things looking for the bondholders at this point? Will they recover 50 cents on the dollar, or will it be less?
    11 Jul 2012, 03:34 PM Reply Like
  • If the patent sale goes as planned, the bondholders might get a recovery in the 50% range, the stockholders nothing.
    11 Jul 2012, 10:18 PM Reply Like
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