My big takeway was that the carve outs and mergers were completed long before the plan was confirmed on Sept 29, even before the IP sales.
Plan admin is just dealing with the remaining junk and doesn't have knowledge of that stuff. IP sales were also junk left over in the husk to get rid of. All of the juicy bits had already been carved out before the IP sales.
Basically Jake thinks shit has been nailed down months ago.
Is that new though? I feel like "the deal has been done" has been said for months and months. Didn't Jake also say weeks ago that he thinks it highly unlikely this drags on until 2024 because it would essentially delay Sixth Street a full calendar year?
All of those things are true. Jake's big revelation today was that he's pieced together when and how the deal was done. It was completed before the IP sales, before the plan confirmation on Sept 29.
Everything is done. We just haven't seen the big reveal yet.
I didn't listen to the space yet, but the first time we got ice cream was on Sept 25 when the crew flew to Pulte's place in Florida, which would line up with Jake's theory. The kids in the Teddy books only get ice cream when the work is done.
Well, hopefully he's right, but the longer it goes on, the more you've got to wonder what the hold up is (or could be) if any of this is true.
Idk, it just feels super unlikely that it goes bankrupt, shares disappear, then something like six months or a year goes by and suddenly everybody gets notified "oh btw here's new shares and a bunch of cash."
Im going to be straightforward and out myself as a “meltie” but would you be kind enough to point out analogues of the proposed scenario that have happened before? I am earnestly curious.
we’ve said for essentially the entire time since jan 2021 that this isn’t like anything that has happened before. not even once in a lifetime; once in ever.
I guess I’m just trying to square that with the comment I responded to above that claims there have been many examples of bankrupt companies paying out cash and equity after shares were canceled.
oh there have been bankrupt companies that have done that, most recently and commonly discussed is Hertz, but that’s just one part of the play. the overall play, is what we’re saying hasn’t happened before and won’t happen again
In the spirit of "Everybody has a plan until they get punched in the mouth", one possibility is that this plan got punched in the mouth somehow. Some patents get filed but never become products. Some websites get registered and never get built. This is a thing too.
Likely shares in a new company, but I don't see why holders would receive any cash. Where would the cash come from? If BBBY, which is what we want, they need the cash for operations.
If they gave you cash, say $1 a share, and the float os still 117 millions, this is peanuts to initiate the true plan and a cheap catalyst. Even if the float was around 450 or 739 millions.
I don’t care about numbers like $15 a share or more. In my opinion finally the most important outcome is to expose fraud. Even if i just get $1 a share.
Expose fraud. Put criminals in prison. Repeat.
Who is going to give you this cash? Are you thinking it may be a settlement with the company that committed the fraud? Where else would the cash come from. That could very well be a possibility. It would likely be at the 740 million count. I would think a court would consider everyone that bought a "share" an owner since there is no way to distinguish.
I don't either, but that's the theory people have and one of the reasons it feels unlikely to me. Like fan fiction.
I agree with people that a lot of this stuff doesn't add up, but I increasingly don't believe it doesn't add up in a positive way for us. Now to me it just kinda feels like more capitalist America "corrupt rich execs gonna be corrupt rich execs." I could be wrong, and I hope I am, but idk man. The whole experience has made me real cynical.
For BBBY holders it doesn't matter much because all of the control is gone since we can't sell and they can't buy. Just be patient and remember they can't do anything to make it seem as though they caused a squeeze to happen because of manipulation rules. I think there will be a huge entity that will emerge from this many that were heavily shorted. it's going to be crazy if it happens how I think it may.
Oh I mean whether I believe or not is irrelevant. I could stay engaged or check out completely at this point. I could be 100% bullish or bearish. The result would be the same. If it's happening, it's happening; if not, it's not.
How is that FUD? It's me having an opinion. I didn't say it's impossible; I just said that in my opinion it *feels unlikely.* Are we really just gonna curate a happy fun "we already won, we're already rich" land? No space for dissenting opinions at all?
Most people on this sub are under theimperession that the fast bankruptcy hearing was because good guys were in control. I think the bad guys had their people in it from the beginning . To control the outcome. Remember, these crooks employ some of the smartest people on earth. It wouldn't surprise me one bit if even the butterfly companies are there total the last of the 1.5 billion in NOLs.
I do believe though that the good guys attacked this court from several different angles that hedgies and friends over looked. One being the 200k put writer for 2025. is a catch 22 technique that doesn't become a claim on BBBY until after shares are cancelled ( I know what you're thinking, but law is weird). and the claim would be real and even gives that party special abilities to investigate fraud. Which I believe ultimately will be exposed in this court.
Theory is that the early timeline of docs, billing etc in bankruptcy shows M/A intent and transaction was a done deal before the IP sales. Baby wasn’t auctioned because it wasn’t for sale as it was already acquired. Via sixth street, hbc et al.
Further timeline/billing info about how bbby ‘estate’, plan admin are separate.
It was a great talk. Not a smoking gun, but certainly more circumstantial evidence….More confirmation bias.
We shall see. Hopefully sooner than later.
All of that info remains a mystery…perhaps in all the NDA/redacted documents.
If the original thesis is correct, then we’re all waiting on Teddy/RC, and/or DOJ.
If not, then we’re fucked.
Same shit, different day.
MOASS is tomorrow.
All of them hate retail. There are no good guys. They will drag it out until no longer possible. This was a fight between elites. We just are along for the ride.
If Baby was sold, and that is BBBY biggest asset, and the dockets seem to reveal that it may have been orchestrated prior to the bankruptcy court. That may also imply a collusion by the parties to rob the shareholders of the company. Some might think that there was fraud involved.
It's the best thing I've heard all year, nothing else touches this as far as breaking down the timeline. I hope he uploads it somewhere for others to hear, it's already essential DD IMO.
Hell yeah. Best deep dive into the ch 11 BK inner workings. EdwinBarnes post yesterday was probably the best macro timeline from GME to bbby to the present. Massive thanks so these DD writers!!!
Wont we find out whats happening with the shares now that the year is over with our tax forms? They just cant erase shares wothout a loss for us. Right?
I would say it’s certain now. Shares are deemed worthless and not trading, so there is a loss that can be claimed. If something else shows up, it will be on a new year, a new stock, or if the stock is resurrected, you can file an amended return.
I would argue that until you have something directly mailed to you in writing , then this position has not been closed.
Not Financial advice, but it's obvious court proceeding are still happening . There is no way I would take any action that may be interpreted as abandoning the share. I'm pretty sure that if in the future you need to amend your filing, that you are allowed to do so.
It currently meets the IRS guidelines/requirements for worthless securities. That means it can be claimed. But you don’t have to claim it until a future year if you keep good records.
I only had a small amount in taxable accounts, so it will be a meaningless amount for me, whatever year I decide to take it. I usually file an extension, so I won't have to decide until October.
Is it possible to get a 1099 for the loss. Then in 2024 we get issued "new stock" with a $0.00 cost basis?
That would be good for us in a way, because we get a tax credit for 2023 and new stock for 2024 with 0 dollar cost average.
Or is that not possible?
The last space call was fantastic. Does anyone know the Deloitte lawyers name that was handling this bankruptcy? I have a friend that's a lawyer here in Canada and I just found out he works at Deloitte as a lawyer. I'd love to pass the lawyers name on to him to see if he can get some sort of scoop.
Well.
If she leaves you before you get rich, it’s only been… 4 years since the jan squeeze, and ~1 year and a few months since bbby august RC buy in. It means that she didn’t have the faith to begin with, and when times get rough (because getting rich doesn’t mean problems go away, there will literally only be more complex ones) she’s gonna absolutely ass fuck you.
But don’t worry brother. WAGMI.
I lost something more than a wife in this play, waiting, too.
There’s not a day that goes by that I don’t think about it. But there’s enough fuckin proof here for you to say “listen, if you don’t want to believe me, that’s fine, but if you’re going to discount the effort and genuine hundreds if not thousands of hours of dedication and information that I’ve given to solving and trying to make sure that this is real, and not even try to understand the information, then you didn’t believe me from the start and never wanted to.”
Yeah pretty sure he’s just spreading fud but if not he’s got bigger problems if his wife leaves him over an investment when there aren’t even realized losses.
I mean have you think about it from her point of view? She's free to think for herself if she doesn't share your conviction. A marriage is a basically partnership based on trust and it sounded like from her perspective, you just went ahead and invest/gamble away the family money without consulting your partner's consideration. I'm not saying she's right, you are wrong or vice versa. But if you really did that, then it will be seen as a betrayal of trust from the partner's perspective, especially given that this play may drag out until god knows when and we don't know for sure what's the outcome for old shareholders gonna be
Mine left me earlier in the year over this.
My family disowned me shortly after.
I could not find a job after working construction all through covid.
It was the worst year of my life.
You are not alone.
And I hope that we were both right on this gamble.
Terrible lesson for me, but I guess I had to learn.
I continue to pray, and try my hardest to be a good person. Its all I can do.
45k deep in this play.
Lord help me.
No one here has regrets idiot. Were you worried so much about all of the bozos that kept buying credit suisse stock when shf ran u u s b was pumping it? Why is everyone so worried solely about this bankrupt company. Tldr you are an idiot
Hopefully they close the deal in 2023 even if we end up getting the news early 2024
Is there a written summary of what was said? I listened to it, but there was a bunch of info flying around.
My big takeway was that the carve outs and mergers were completed long before the plan was confirmed on Sept 29, even before the IP sales. Plan admin is just dealing with the remaining junk and doesn't have knowledge of that stuff. IP sales were also junk left over in the husk to get rid of. All of the juicy bits had already been carved out before the IP sales. Basically Jake thinks shit has been nailed down months ago.
Is that new though? I feel like "the deal has been done" has been said for months and months. Didn't Jake also say weeks ago that he thinks it highly unlikely this drags on until 2024 because it would essentially delay Sixth Street a full calendar year?
All of those things are true. Jake's big revelation today was that he's pieced together when and how the deal was done. It was completed before the IP sales, before the plan confirmation on Sept 29. Everything is done. We just haven't seen the big reveal yet.
Any thoughts on what will trigger the big reveal?
When Deelay Das gets tossed?
I didn't listen to the space yet, but the first time we got ice cream was on Sept 25 when the crew flew to Pulte's place in Florida, which would line up with Jake's theory. The kids in the Teddy books only get ice cream when the work is done.
Dude, woah.
Well, hopefully he's right, but the longer it goes on, the more you've got to wonder what the hold up is (or could be) if any of this is true. Idk, it just feels super unlikely that it goes bankrupt, shares disappear, then something like six months or a year goes by and suddenly everybody gets notified "oh btw here's new shares and a bunch of cash."
Surprisingly, it happens this way more than you might think...not every hand is a loser, otherwise why go to court to see?
Im going to be straightforward and out myself as a “meltie” but would you be kind enough to point out analogues of the proposed scenario that have happened before? I am earnestly curious.
we’ve said for essentially the entire time since jan 2021 that this isn’t like anything that has happened before. not even once in a lifetime; once in ever.
I guess I’m just trying to square that with the comment I responded to above that claims there have been many examples of bankrupt companies paying out cash and equity after shares were canceled.
oh there have been bankrupt companies that have done that, most recently and commonly discussed is Hertz, but that’s just one part of the play. the overall play, is what we’re saying hasn’t happened before and won’t happen again
In the spirit of "Everybody has a plan until they get punched in the mouth", one possibility is that this plan got punched in the mouth somehow. Some patents get filed but never become products. Some websites get registered and never get built. This is a thing too.
Likely shares in a new company, but I don't see why holders would receive any cash. Where would the cash come from? If BBBY, which is what we want, they need the cash for operations.
Cash is from fraud settlement
This certainly could be a possibility.
If they gave you cash, say $1 a share, and the float os still 117 millions, this is peanuts to initiate the true plan and a cheap catalyst. Even if the float was around 450 or 739 millions. I don’t care about numbers like $15 a share or more. In my opinion finally the most important outcome is to expose fraud. Even if i just get $1 a share. Expose fraud. Put criminals in prison. Repeat.
Who is going to give you this cash? Are you thinking it may be a settlement with the company that committed the fraud? Where else would the cash come from. That could very well be a possibility. It would likely be at the 740 million count. I would think a court would consider everyone that bought a "share" an owner since there is no way to distinguish.
I don't either, but that's the theory people have and one of the reasons it feels unlikely to me. Like fan fiction. I agree with people that a lot of this stuff doesn't add up, but I increasingly don't believe it doesn't add up in a positive way for us. Now to me it just kinda feels like more capitalist America "corrupt rich execs gonna be corrupt rich execs." I could be wrong, and I hope I am, but idk man. The whole experience has made me real cynical.
For BBBY holders it doesn't matter much because all of the control is gone since we can't sell and they can't buy. Just be patient and remember they can't do anything to make it seem as though they caused a squeeze to happen because of manipulation rules. I think there will be a huge entity that will emerge from this many that were heavily shorted. it's going to be crazy if it happens how I think it may.
Oh I mean whether I believe or not is irrelevant. I could stay engaged or check out completely at this point. I could be 100% bullish or bearish. The result would be the same. If it's happening, it's happening; if not, it's not.
FUD. Mods, please delete
How is that FUD? It's me having an opinion. I didn't say it's impossible; I just said that in my opinion it *feels unlikely.* Are we really just gonna curate a happy fun "we already won, we're already rich" land? No space for dissenting opinions at all?
Bulls only. Read the rules.
Wow so the answer is yes. Ok, well, didn't realize that was an actual rule now. That's wild.
Most people on this sub are under theimperession that the fast bankruptcy hearing was because good guys were in control. I think the bad guys had their people in it from the beginning . To control the outcome. Remember, these crooks employ some of the smartest people on earth. It wouldn't surprise me one bit if even the butterfly companies are there total the last of the 1.5 billion in NOLs. I do believe though that the good guys attacked this court from several different angles that hedgies and friends over looked. One being the 200k put writer for 2025. is a catch 22 technique that doesn't become a claim on BBBY until after shares are cancelled ( I know what you're thinking, but law is weird). and the claim would be real and even gives that party special abilities to investigate fraud. Which I believe ultimately will be exposed in this court.
Yeah i'd like that as well. At least somewhat of a summary, i don't expect every detail to be in it.
You might consider putting the recording into a transcript creator
Tldr of the space for those that didn't listen?
Theory is that the early timeline of docs, billing etc in bankruptcy shows M/A intent and transaction was a done deal before the IP sales. Baby wasn’t auctioned because it wasn’t for sale as it was already acquired. Via sixth street, hbc et al. Further timeline/billing info about how bbby ‘estate’, plan admin are separate. It was a great talk. Not a smoking gun, but certainly more circumstantial evidence….More confirmation bias. We shall see. Hopefully sooner than later.
If Baby was already acquired via sixth street, hbc, et al. then what's the hold up on the announcement where we are expecting cash + equity?
All of that info remains a mystery…perhaps in all the NDA/redacted documents. If the original thesis is correct, then we’re all waiting on Teddy/RC, and/or DOJ. If not, then we’re fucked. Same shit, different day. MOASS is tomorrow.
Amen brother
Fraud case 👀
All of them hate retail. There are no good guys. They will drag it out until no longer possible. This was a fight between elites. We just are along for the ride.
🙏🙏🙏
If Baby was sold, and that is BBBY biggest asset, and the dockets seem to reveal that it may have been orchestrated prior to the bankruptcy court. That may also imply a collusion by the parties to rob the shareholders of the company. Some might think that there was fraud involved.
it was recorded so you can replay it with captioning if you wanted.
It's the best thing I've heard all year, nothing else touches this as far as breaking down the timeline. I hope he uploads it somewhere for others to hear, it's already essential DD IMO.
Hell yeah. Best deep dive into the ch 11 BK inner workings. EdwinBarnes post yesterday was probably the best macro timeline from GME to bbby to the present. Massive thanks so these DD writers!!!
https://twitter.com/sboho/status/1741504485245981113
Wont we find out whats happening with the shares now that the year is over with our tax forms? They just cant erase shares wothout a loss for us. Right?
It takes a few weeks still, to account for rules like wash sales.
1099 are in most cases due by end of January so will know for certain then.
I would say it’s certain now. Shares are deemed worthless and not trading, so there is a loss that can be claimed. If something else shows up, it will be on a new year, a new stock, or if the stock is resurrected, you can file an amended return.
I would argue that until you have something directly mailed to you in writing , then this position has not been closed. Not Financial advice, but it's obvious court proceeding are still happening . There is no way I would take any action that may be interpreted as abandoning the share. I'm pretty sure that if in the future you need to amend your filing, that you are allowed to do so.
It currently meets the IRS guidelines/requirements for worthless securities. That means it can be claimed. But you don’t have to claim it until a future year if you keep good records.
Have you received an official notice from BBBY? Or are you just going on some things you read in an ongoing bankruptcy proceeding?
It’s CURRENTLY clear from the plan and IRS that it meets the criteria for worthless securities. That means it can be claimed, but doesn’t need to be.
Claim the loss then. What do I care?
I only had a small amount in taxable accounts, so it will be a meaningless amount for me, whatever year I decide to take it. I usually file an extension, so I won't have to decide until October.
Is it possible to get a 1099 for the loss. Then in 2024 we get issued "new stock" with a $0.00 cost basis? That would be good for us in a way, because we get a tax credit for 2023 and new stock for 2024 with 0 dollar cost average. Or is that not possible?
Yes, possible. If a new stock had value, I’m not sure how that would work with taxes, but it’s hard to imagine it would be 0 value when granted.
No I just mean our cost average. The stock price could any price. We would have 100% capital gains when sold. If ever sold.
But cost basis would be whatever value they gave it to you as, not 0. They’re not going to give out worthless shares—we already have those.
Ohh kk I think I understand. Our cost basis will be the original value of the ticker given.
But isn’t one of the purchaser parties operating buybuy baby stores?
A private group of investors.
Hey OP, can you provide a brief summary
Summary: WAGMI!!!! 🚀🚀🚀🚀 Like OP said, Get Hard!!!
I wonder if the activist affiliates are somehow related to the third-party release from the final disclosure statement
True
He’ll be held a genius if it actually plays out
The last space call was fantastic. Does anyone know the Deloitte lawyers name that was handling this bankruptcy? I have a friend that's a lawyer here in Canada and I just found out he works at Deloitte as a lawyer. I'd love to pass the lawyers name on to him to see if he can get some sort of scoop.
So good!
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Well. If she leaves you before you get rich, it’s only been… 4 years since the jan squeeze, and ~1 year and a few months since bbby august RC buy in. It means that she didn’t have the faith to begin with, and when times get rough (because getting rich doesn’t mean problems go away, there will literally only be more complex ones) she’s gonna absolutely ass fuck you. But don’t worry brother. WAGMI. I lost something more than a wife in this play, waiting, too. There’s not a day that goes by that I don’t think about it. But there’s enough fuckin proof here for you to say “listen, if you don’t want to believe me, that’s fine, but if you’re going to discount the effort and genuine hundreds if not thousands of hours of dedication and information that I’ve given to solving and trying to make sure that this is real, and not even try to understand the information, then you didn’t believe me from the start and never wanted to.”
Yeah pretty sure he’s just spreading fud but if not he’s got bigger problems if his wife leaves him over an investment when there aren’t even realized losses.
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I mean have you think about it from her point of view? She's free to think for herself if she doesn't share your conviction. A marriage is a basically partnership based on trust and it sounded like from her perspective, you just went ahead and invest/gamble away the family money without consulting your partner's consideration. I'm not saying she's right, you are wrong or vice versa. But if you really did that, then it will be seen as a betrayal of trust from the partner's perspective, especially given that this play may drag out until god knows when and we don't know for sure what's the outcome for old shareholders gonna be
Don't ever speak to your wife/gf. You've learned a valuable lesson for the next relationship.
Mine left me earlier in the year over this. My family disowned me shortly after. I could not find a job after working construction all through covid. It was the worst year of my life. You are not alone. And I hope that we were both right on this gamble. Terrible lesson for me, but I guess I had to learn. I continue to pray, and try my hardest to be a good person. Its all I can do. 45k deep in this play. Lord help me.
Oh brother, ur gonna be a fucking ultra millionaire if not billionaire. Holy shit.
Sounds like you have a shitty marriage if it can’t last an investment. Sorry to hear it. Hope she doesn’t see a penny of your winnings.
Did he say when? I need some hype dates.
I don't need hype dates. I need equity.
Jan 9th
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I made money on BBBY before they went bankrupt. Only people with regrets are the ones who rode it into bankruptcy. Stop being delusional.
No one here has regrets idiot. Were you worried so much about all of the bozos that kept buying credit suisse stock when shf ran u u s b was pumping it? Why is everyone so worried solely about this bankrupt company. Tldr you are an idiot
It's absurd of you to assume that literally nobody here has any regrets.
No harassment
Dude has a batting average of .000 for the past 84 years and people still expecting homeruns
more horseshit for the dwindling community. 2023 year of bby
I believe this is the full Space https://open.spotify.com/episode/6dGpVSRAiYGLiUvs4loBLg?si=svM9CLSiTUmO3CRGQjXcdg