I believe KRY has been trying to refinance/find a way to pay off the $100 million+ debt for many months now. So Richard Marshall's statement (that KRY is still trying to find the money) is to be expected. Richard is never going to tell you they've given up hope.

And what would be the point of trying if KRY didn't have at least some faith that finding the new money would happen? At some point the calendar decides if KRY's was right or wrong to have that faith.

But I also believe finding that new money is much harder than Fung thought it would be (or KRY would have announced it weeks, if not months ago) and that KRY now has less than a 10% chance of avoiding bankruptcy.

While it may be true that Ven will be forced somehow to pay full arbitration awards in the future, I believe it's also true that the present/recent rhetoric from Ven that they'll never pay off a big award is hurting KRY's chances of finding new money.

(BTW I believe if Chavez dies soon KRY's chances of convincing someone to pony up the new money improves...... but it's still not a sure thing.)

I believe potential new money investors look at KRY and say to themselves: This is a company that constantly under delivers and it's also a company that is banking on a corrupt banana republic which publicly states: We don't play by the rules and we're never paying off any big awards. While those statements MAY BE "macho bravodo" those statesments in the press are NOT helping us.

Therefore I believe potential new money investors are saying to Fung: Sorry Bob, but there are easier quicker profits to be found outside of Ven. Yes, you may win your case but our grandchildren will probably be in college before you get your/our money.

I hope I'm wrong about all this but.........

Cividale