Financing anything, let alone high-risk, is pretty tough in today's economy. The delay in E&Y posting the DIP financing proposal is likely because the Company, as outlined in the bidding process, may still be discussing/negotiating with the two/three (if there were that many) top qualifying funding proposals. Especially if the terms are not quite what they are looking for, or expected.

The bridge financing received two offers (plus one that may not have completed in time), for funding of about $3M, significantly less than the current DIP funding requested. There really are not as many outfits out there providing high-risk loans on the cheap, as might be thought.

Should see something soon because schedule is tight.