Post by
rad10 on Jun 22, 2019 3:31pm
good development
Expect we will see something regarding the debentures in the coming months.
"first step in strengthening our balance sheet and is a key component of our vision to create a long-term financing structure that will support the Company's growth."
"agree to a further deferral and subordination of its security is reflective of our positive ongoing partnership with IQ and enables us to explore and evaluate new financing opportunities".
Insider buying suggests dilution less likely.
Long debentures and very small new position in the equity.
Comment by
HCI_STEEL on Jun 23, 2019 7:59pm
Probably in the next few days when the interest payment is due
Comment by
Contrarian333 on Jun 24, 2019 3:56pm
Not in the next few days. The interest will be paid on the debentures (in cash) and negotiations will be held with key convertible bond holders and potential new secured lenders and out of that will come a sustainable capital structure. Meanwhile DP prices need to get off of their multi year lows and seasonally have a pretty good shot of that happening over the second half.
Comment by
HCI_STEEL on Jun 24, 2019 7:10pm
The comment was about seeing something about the debentures, and I still say, in the next few days, because either they pay the interest on the debentures due June 30th, or they don't. Either way, there will be some statement on the debentures in the next few days to say that.