I know I'll be strung up for this post but who cares, you are all big boys and girls and should be able to handle this by now.

I think our cash position is quite troubling to say the least. At the current burn rate we only have a few more months until it runs out. What then? We keep hearing nothing has changed with our situation. That's not good as far as I'm concerned because the path we've been on sucks and hasn't gotten us anywhere. Filing for arbitration will take years so we'll need the cash to keep the doors open and to pay the legal fees not to mention the noteholders debt repayment in Dec 2011 of $100M. Who will want to finance that obligation? The best we could do is keep selling equipment to raise some cash but that won't be enough to pay back the debt.

If KRY is negotiating a sale of the operating contract, who in the world is going to pay fair value knowing KRY is in this cash strapped position? Especially since it appears KRY can't obtain the permit on its own. There would be very few companies willing to buy this from us right now given the political uncertainty in VZ. And the fewer companies you have negotiating, the lower the buyout will be. That is simple supply and demand economics.

So in summary, KRY is running out of cash and isn't in a good negotiating position. And with Fung lining up his next gig, it appears to me that he is ready to end this fiasco by getting us the best deal he can given our circumstances. He'll then collect a paycheck from Silver Dragon while we sit and discuss what could have been. Sort of depressing if you ask me. Does anyone really see it any differently?