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Non-Tech : National Vision Inc. (NVI - VSTA - NVAL)
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To: RockyBalboa who started this subject4/17/2002 2:02:43 PM
From: Glenn Petersen  Read Replies (2) of 14
 
While not bankable, a recovery analysis was filed in the bankruptcy court as part of the reorganization plan. The analysis placed a value on the company of $145 million, of which $25 million was allocated to the newly issued common stock.

All of the company's old shareholders were wiped out in the bankruptcy. The 5 million shares were issued to the creditors. As of December 31, approximately 800,000 had still not been distributed. My guess is that most of the creditors will be dumping their shares as quickly as possible. The stock will probably be under some pressure for awhile.

If Fahs can execute, and he certainly has the background, this could be a nice long-term play.
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