"No math involved in wishful thinking. No logic in either of them or me."

Except I have both math and logic to backup my estimate.

Gowling's case is likely also based on math and logic and if successful could have a significant impact on the shareholder return. $1.50 - $2 - why not? If the criminal code argument is successful what Tenor gets is reduced hugely. 60% pa on a sub-$100m loan is a long way short of 88% of NAP.

Of course I still favour a buyout offer from Tenor soon rather than wait for both VZ to pay up fully and for Gowling to run this through the courts.

If you are an opt in you might want to ask yourself what number from Tenor you would accept and whether what you have signed will allow you to do that without penalty. (Jimmi don't go down the conspiracy route again - it is a question you should ask yourself.)