Turtlefoam,
thanks for providing the info. While only 80 million its not what most of us wanted to hear, i guess the deal isn't dead yet.
My only question is, based on the information you've been able to obtain, is the firm $80 million solely from new investors? or does that amount include some of the current noteholders too?
Because if not, I would assume that having $40 million worth of the old noteholders roll over is achievable.
That said, i'm still very upset we're going to the last minute here.
And for those saying that the noteholders should just force the company into bankruptcy, there is risk there too. Why not collect 20% interest per annum and get the first 50% of any settlement, especially when you've probably paid 60 cents on the dollar for the bonds in the first place, and are now getting full value, plus gravy. I'm sure they did their calculations, question is where that leaves us shareholders.
Anyway......
FK.