''if allco can pay back all the senior debt i would be happy to...

''if allco can pay back all the senior debt i would be happy to get a pro rata distribution of the aep shares in exchange for the notes because they are worth alot more than $1.80. ''

Thats actually not a bad idea, somthing i should of thought of :P.

The problem with the AEP investment is that Allco holds a substaintial amount of shares that cant be sold on market (just impossible, go look at AEP depth if you dont beleive me).

Instos will be after this subtaintial holding, either at a discount or premium. either way time will tell.

But why sell to an insto when you can just convert notes into AEP shares??

anyways thought id do the math on this one...

Allco own 34,662,261 shares in AEP

@ $2 per share = $69,324,522

$69,324,522/3,000,000 notes outstanding (is this figure right?)

= $23.108174 wroth of AEP shares per notes

OR 11.55 shares per note

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are noteholders here on HC happy for this sort of outcome??


only prob is that banks might want mcgrath nic to sell them for cash so that they can repay loans.