While I still see the possibility of a bondholder revolt and a comp bid coming I do think many here have good points. I see management as not worthy of 10%, but I also see the company and it 's shares not trading post ISCID either. So incentivizing management may not be the panacea to most on this thread but one must also charectorize what is the amount (if any) do we pay for the expert testimony prior to the memorial? Didn't this have to happen or did we not need management? Yeah they spent too much money and the bondholders offered $10 million just to prove they could drive us to the finish line but the BOD didn't think the $10 million had teeth so here we wait for Tenors $36 million and the same dilution we would have had with the syndacates 1st offer.

Can we also assume the bondies will just lye there and take it when we all know they have a huge common interest and un-secured holding that could be diminished if they allow such a deal to be allowed?

I would think right about now thier legal team could have just completed thier counter . Also one thing that comes to mind here is the collateral damage that got us here in the 1st place... Hugo didn't help, nor did the bondies relentless pursuet to wipe us common shareholders off the map if they took control of the company upon CCAA protection. Nuebold could have sayed with them and we'd been screwed , blued and tatooed. Yeah sure, they hold the equity and the bonds (parlayed so to speak) but they also held the last and final offer the syndacate said no to by not relinquishing the ownership lawsuit.

So what do they do now? Allow Tenor and Co. to dilute them or step up to the plate, roll the debt , cancell the lawsuit and adjust the CVR and managements take?

Lotsa un-answered questions with time ticking out.....tick tock tick tock!