gw, i agree but to be honest i'm looking at kry in a whole new light at these levels.
putting history and everything else aside i'm toying with the idea of gambling a few bucks again. not much, but something.
i figure the arb case is strong and believe if it were to go to award $750mil for investment/interest is pretty likely...if they actually recieved lost profits it would be much higher.
last i saw the kry bonds were selling for .68 (figure 68mil)... market cap is 42mil= $110mil current value for shareholders/noteholders. plus the equipment is worth something.
i figure in a simple buyout someone could pay off the noteholders, give the shareholders a 50% gain over todays PPS and finance arbitration for about $150mil. after selling the equipment maybe they're only in it $130mil.
at $130mil they're looking at a pretty solid risk/reward imo...likely 6x thier money in 5 years. if lost profits play in then they're fat hogs. to put it in perspective, would you gamble $150 for a excellent chance to get $750 in 5 years and a smaller chance to get $3,000??? i would. unfortunately, i dont have $150mil to gamble with.
i know .15sh is'nt too exciting but i think this SHOULD be worst case which beats BK. we may end up seeing an investor take over the notes and we just go along for the ride but it's hard to imagine how the arb case would be worth less than this imo.
kry seems like a good takeover/buy for someone to me... i would hope fung would be marketing kry this way (at least as a plan B) for shareholders sake. even if he's not, i'm guessing the sharks are watching kry very closely. i expect some major suprises down the road.
