The 8-k is not definitive. Stated “some” unsecured creditors are participating in order to give equity holders 3.5% plus. The idea that creditors would give equity holders an equity stake plus an exponential call option while not receiving any guarantee of being made whole or participating in any upside at preferred conversion is certainly unprecedented and not plausible in my opinion. The 8-k gives details on caps and floors of the preferred conversion, but without details about the participating creditors and at what price they are made whole, the information is useless. Maybe investors are supposed to back it out of exhibit A and B along with previously filings. About all that can be determined is an AAMRQ floor in terms of LCC. And the 11 Billion dollar deal quote we keep seeing is dependent on the price of LCC. If we are to assume that is based on the current LCC price multiplied by total diluted shares divided by 0.28 and we assume creditors are made whole somewhere near that price, AAMRQ is worth maybe $1.30? The current price could be based on the call option that appears, and I stress, appears to be awarded to the equity holders. But without further SEC filings, it looks impossible for anyone with only public material information to value such an option. One thing I imagine can be counted on is the time value of that option to decay(Theta). It may be one of the most valuable options ever awarded in a bankruptcy, or anywhere else, but the time value will decay, just as the earth will rotate. What am I missing? Or are there just a lot of people who some how have a lot more information than me?