Robohogs

Haven't We Heard this Market Song Before?

The 8-K today lists pro forma book at 8 cents per share (and it had the wrong new share count - off by a million shares - too low). Figure is closer to 6 cents. These shares are massively over-priced.

Jon

Haven't We Heard this Market Song Before?

Where did you come from? The notes are not prepayable and if the shareholders vote no, they give up the rights to the collateral backing the Over-ride Agreement (somewhere near $7 billion of value less $5.8 billion of debt plus any upside from remarking the assets back up). That would take book value to close to zero and the 18% interest would skin the company alive. You do not know how to read debt deals, do you?

Jon