You're overestimating how much of Kodak is actually a viable business. Most of their revenue still comes out of their "Print Systems" (!) division. KODK's latest 10-K is filled with albatross risk statements like "The ability to generate positive operating cash flows will be necessary for Kodak to continue to operate its business."

Honestly if they nail this 44% is small potatoes, this is a dying company with little to no future revenue streams. I'm surprised it didn't go higher.