Laserfiche WebLink
Liquidation Projections <br /> The DMG has a senior lien on the Rockdust Plant. Pete <br /> Lien recently offered $250,000 for the Rockdust Plant. He <br /> previously has offered $310,000 for the equipment within the <br /> Plant alone. Resources proposes to pursue Lien's offers, and <br /> anticipates realizing more than $300, 000 for the Plant, perhaps <br /> by selling the equipment to Lien and the land and improvements to <br /> other purchasers. <br /> Resources estimates the value of its other assets as <br /> follows: <br /> Equipment. Through August 31, 1993, gross sales of <br /> equipment have totalled $1, 142,693. Expenses, through August 31, <br /> 1993, have been $718,282. The net to the bankruptcy estate, <br /> through August 31, 1993, has totalled only $182,761. Most of the <br /> expenses associated with recovering and reselling the equipment <br /> are incurred and recouped by M&E in the early stages of contract <br /> performance, and the sales commission to M&E during this time has <br /> been more favorable than will occur later in the contract. <br /> M&E estimates that a total of about $3 million of gross <br /> sales will be realized, with the balance of the sales occurring <br /> over the next three or four years. Based on that estimate, the <br /> eventual net to the estate from equipment sales would be about <br /> $1,200,000. <br /> Fabrication Shop. The purchase price under a pending <br /> contract is $410,000. The sale has been approved by the <br /> Bankruptcy Court. <br /> Carbondale Industrial Park. The Town of Carbondale <br /> has offered to purchase the property for $1, 125,000, which <br /> Resources considers a fair price. <br /> Rail Loadout Site. The property has been appraised at <br /> $747,000. Informal estimates of value from real estate brokers <br /> suggest that the value may be higher than the value as appraised, <br /> perhaps in excess of $1 million. For purposes of the liquidation <br /> projections in the Disclosure Statement, Resources assumes a <br /> value of $750, 000. <br /> Coke Oven Parcel. No appraisal exists. Resources <br /> estimates the value of the parcel in the range of $150,000 to <br /> 200,000. <br /> Mine Site. The recommended listing price is <br /> $2,495,000, exclusive of peripheral properties such as the Rail <br /> Loadout Site, the Rockdust Plant, and the office. For purposes <br /> of estimating value, Resources has arbitrarily reduced the value <br /> to $2,000,000. <br /> 2 <br />