close to breakout?, page-2

IMO Recent volume is because of the VRL proposal with the prefs and the related speculation that VRL will do something with AEO.

Huge asset sitting on the VRL books being used as a cash cow (not a very good one at that) for VRL.

Saw comments from a couple of brokers that in order to fund the buy back, VRL might have to offload assets.
Maybe AEO?????

Those that purchased AEO in the IPO are underwater just like those that bought the prefs at $3.60 in the IPO....

Big question for pref holders is do they sell now and get the cash up front or wait and take the 25 cents cash and the note.

Market is saying the "$1.25" offer is only worth $1.06. The note is only worth 81 cents which discounts the note back to its present value at a discount rate of 10% WITHOUT any interest at all.

Means to me that they think the income on the note is worthless.

Also if approved, I think you would see VRL in the market buying as many notes as it could at the discount from par.....