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Gold/Mining/Energy : ATPG Shareholders -- Ignore unavailable to you. Want to Upgrade?

To: Robohogs who wrote (200)	8/30/2012 10:46:05 AM
From: billgatesisevil	Read Replies (1) \| Respond to of 3620

I just bought another 50 bonds in a taxable account. Again, if these start to hit the skids, I am out at 20. That is an indication that something is going on that I am unaware of.

To: Robohogs who wrote (200)	8/30/2012 1:23:49 PM
From: mrpanick	Respond to of 3620

I am long the bonds as well as some ATPGP. What will most likely happen is that the bonds will get converted to new equity. The company will lowball the valuation of the new equity so that they can claim that the bondholders got paid less than 100 cents on the dollar. This will of course be justification to zero out the existing equity. By the time the company comes out of bankrutpcy Clipper will be online and there will be alot less uncertainty about the company. Even if the bonds actually get 100 cents on the dollar, the valuation will be done so that it appears that they took a small haircut. Without an EC there is zero chance of equity getting treated fairly in this process.