Note sure if this was posted yet:
"The Company is actively marketing the remaining generic mining equipment for estimated net realizable value of $397."
$397,000 must not be much of the generic equipment left so sell.
The earnings state they don't have enough money to meet the noteholder interest payment in July 2010 without their given financing criteria of (a) partner (b) equity financing (c) sale of equipment (d) negotiate with noteholders.
(c) is obviously not enough money for the noteholder interest payment and no mention of them trying to sell the LC specific equipment.
(d) doesn't look like a possibility based on the noteholders new claim as of May 11.
That leaves us with (a) and (b) does it not?
