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wie das beispielsweise bei AMR der Fall war, ist stark vom Einzelfall abhängig - und da sehe ich Local Corp finanziell sogar noch in einer sehr viel besseren Position. Allerdings halte ich den CFO Ken Cragun von Local Corp für jemanden, der einem ein Ohr abschneiden kann und dann darauf hinweist, dass man am Kopf blute. Wie das letztendlich ausgeht, hängt auch von Konkursrichter Judge Clarkson ab, der nach meinen Internetrecherchen clever und frei von Tadel ist. Daher ist meine Prognose. dass der CFO, der eigentlich die Interessen der Aktionäre vertreten müsste, sie aber meiner Ansicht nach beklauen möchte, gerade soviel an die Aktionäre herausrückt, dass Judge Clarkson seine Zusimmung nicht verweigert und der CFO nicht zum Zellengenossen von Madoff wird. Das Zehnfache des momentanen Pennystockniveaus stelle ich mir da mindestens vor, vielleicht wird es auch sehr viel mehr .- und da ich die Wahrscheinlichkeit für eine solches Ereignis für sehr viel höher halte als 10%, bin ich halt nach wie vor in der Aktie drin.
At the time of the filing AMR Corp had $29.5B liabilities compared to only $24.7B Assets, a shortfall of $4.8B.
This situation is by Local Corp a lot better, because the assets was a lot higher than the debts of less than 20 million, when Local Corp filed Chapter 11. The assets of Local Corp was at 03/31/2015 with 37 million about 12 million bigger than the debts of about 25 million - a rare situation by a filing of Chapter 11. General Motors had for example the 3-fold of debts than assets, as they filed Chapter 11.
Read additional on Bloomberg, where Local Corp announced: "The debtor listed its assets of $36.07 million and liabilities of $8.84 million." from 23/06/15. That is a lot better than I thought, but we must add about 10-12 million additional to the liabilities (convertible bonds, maybe bank-credit). On the other site are no patent capitalized and for a lot of other assets were the prices by a sale a lot higher than the book values. If you enter Google with "The debtor listed its assets of $36.07 million and liabilities of $8.84 million.", you will find the Bloomberg-text at once.
But now the biggest surprise for you: The value of the high valuable 14 patents of Local Corp is not part of this 37 million, because they were near all developed with the money of the existing shareholders of Local Corp . By such self-developed patents can the company decide, if this patents were counted as assets or not - and Local Corp don't count the self developed patents with high value as assets. Local Corp had never done a capitalization of development costs for the14 valuable patents.
If Local Corp had done such a capitalization, the difference between assets and debts would be a lot higher than the amount of 12 million from the first lines. If the patents were capitalized, too, the difference between assets and debts would be between 50 and 100 million or higher.
At the time of the filing AMR Corp had $29.5B liabilities compared to only $24.7B Assets, a shortfall of $4.8B.
This situation is by Local Corp a lot better, because the assets was a lot higher than the debts of less than 20 million, when Local Corp filed Chapter 11. The assets of Local Corp was at 03/31/2015 with 37 million about 12 million bigger than the debts of about 25 million - a rare situation by a filing of Chapter 11. General Motors had for example the 3-fold of debts than assets, as they filed Chapter 11.
Read additional on Bloomberg, where Local Corp announced: "The debtor listed its assets of $36.07 million and liabilities of $8.84 million." from 23/06/15. That is a lot better than I thought, but we must add about 10-12 million additional to the liabilities (convertible bonds, maybe bank-credit). On the other site are no patent capitalized and for a lot of other assets were the prices by a sale a lot higher than the book values. If you enter Google with "The debtor listed its assets of $36.07 million and liabilities of $8.84 million.", you will find the Bloomberg-text at once.
But now the biggest surprise for you: The value of the high valuable 14 patents of Local Corp is not part of this 37 million, because they were near all developed with the money of the existing shareholders of Local Corp . By such self-developed patents can the company decide, if this patents were counted as assets or not - and Local Corp don't count the self developed patents with high value as assets. Local Corp had never done a capitalization of development costs for the14 valuable patents.
If Local Corp had done such a capitalization, the difference between assets and debts would be a lot higher than the amount of 12 million from the first lines. If the patents were capitalized, too, the difference between assets and debts would be between 50 and 100 million or higher.
