So then to take it a step further, assuming that PNP has now found a new bottom in order to maintain its current covenant, provided there is a some sp recovery over the next couple of weeks, they should not be too worried about their ratio at the end of August or September. Then in October they need to improve their ratio from 50% to 33%. If the share price doesn't help them by that point, we may see the same thing repeat itself. So here's hoping - news by October!!!! (jk),