"the big question is why the debt holder would agree to such a deal,"

The bigger question is why PTSC would agree to such a deal?

3% of $800,000,000.00 equals $24,000,000.00 ( corrections welcome). If the lender hopes to collect all the debt.

If the lender only hopes to recover 50% of the debt, that would be $400,000,000.00 of sales.

Others have pointed out something is better than nothing for the lender trying to recover funds. Well, 97% of something less purchase price and expenses seems to be of great value to PTSC. Is the lender just hoping to recover 10% of the debt? That alone is still $80,000,000.00 in sales.

Besides the reasons the lender took the deal, PTSC seems to have their reasons and they look promising to me. This was/is for a three year period (?) and then what will PTSC be making if they don't have to be paying off the debt? ( 100% less expenses ) And in three years business could be increased. Also, who knows if some tech. of PTSC can be added to the Holocom tech to improve upon what is current,synergy.There probably are other reasons but these are just a few that crossed my mind. Any other ideas here? Perhaps the reasons will be made even more clear at the SHM. GLTAL