Thanks for your opinion.

It would make sense for the bondholders but I think their goal is to take control of Kry through shares so they can reap the arbitration award if as Civi believes is actually is paid. From what I got at the AGM the bondholders won't be part of any new debt.

This brings up an earlier question I posted. Why would anyone including the bondholders put up $100 million plus unless they believed that Kry would win their case and VZ would pay?

I know Civi said "I've spoken to several big money players and asked them if they would be willing to bail out KRY for the majority of a possible future award and their reply was “No”. They said they wouldn't touch any investment, even sideways, in Venezuela until Chavez was gone and they saw that the country swinging back to reality"

I'm sure most investors would agree with this but there is a segment of investors out there that do invest in these type of situations. Some of them might also be Kry type bondholders since many may have bought the debt when Kry was already in trouble.

I guess what I'm getting at is that at the AGM Kry said they were working on the equipment deal and would announce it when the cash was in the bank. They did a few weeks later. The deal must have been close to done at that time but Kry has continually said they will only make announcement when deals are done.

At the AGM Kry said they were working on a new debt deal but wouldn't announce anything until the deal was done. If or when a deal is announced would that not change the perception of Kry to other investors since someone stepped up with over $100 million or will people just assume these new investors got sucked in and didn't do their home work.

JJ