KGIC Inc LGLTF

UMMMM GUYS, THEY GOT MORE MONEY

[banx]

If it was only a matter of a forbearance extension, I would merely be happy.
With the additional  credit provision, I'm ecstatic.
The due dilly and risk mgmt needed to grant more credit to a company in forbearance would have been intense.
But it would appear Big Mac and crew passed the taste test and the smell test.
The Bank went in deeper coz someone (maybe a PHd) presented a business case that not only made sense but was also a realization in progress.
The previous regime was weak when it came to collecting receivables and consequently negative cash flow variances caused them to tap out.
I'm not going to go on about how they blew approx $8 million in a pref share funding in a matter of months.
The bottom line: Someone is impressing the lender and this in turn causes me to be impressed.