Say we get to October 15 and no TOL. If Mt Kellett don't want to be mates about this thing, basically we've got a VWAP situation for the next X number of days and then the debt is converted to shares. I am not a proponent of conspiracy theories but there has been plenty of discussion here (much of it total bull) about stock manipulation etc.
Now our CEO will take a call from Morgan Stanley. He won't take my call or (presumably) yours. THis is just the way of the world.
So if you are Morgan Stanley or one of teh other major holders and 200 bars is about to become equity, well you're not going to let them go cheap. Actually you would be dumb in my opinion to let this happen. So there is only one way I know of to NOT let a load of debt be converted cheaply.
Do a wikipedia search on "Green Shoe". It's sort of what I may or may not be talking about.
JUST TRYING TO ADD VALUE DEAR POSTERS. VALUE.
LYC Price at posting:
76.0¢ Sentiment: None Disclosure: Held
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