Did a little research, the company has 127,500,000 shares outstanding, the market cap at halt of 7.9 gives it a value of 1billion. it sold futures brokerage for 780 million. i dont know how else to value it. who is a reorg expert here.
Thats what i did and came up with a $6 ish max theoretical value. I have no idea if this is right but it makes sense. However I wouldnt be surprised if they figured it out in a way to completely fuck the shareholders.
RFX has over $1 billion in debt which needs to be paid off first. The equity is worthless. Probably open somewhere in the $1 range, as shorts cover and people try to buy it for a quick flip.
is also interested the company gets to keep I believe 20percent. I just heard on squawk box that others are contesting and looking for a chance to bid. Any idea if and when it will open and where? My other concern is that once opened a lot of traders will sell to cut losses which could drive the stock lower... Me I am caught "big time" a few dollars won't make any difference here so I am going to wait and see where it goes.. w
delphi is up 100% from its pink sheet lows and gm is now 30 from 24.40, so there is value somewhere for this company, just dont know where yet.