RE:CXR is going to nosedive to penny stock All I can say is wow. They state in the press release they're ebitda is declining from their June numbers, they already guided down and they are using the June numbers in the prospectus for their ratios. This must be melting some analysts brains right anout now. The lack of clarity for use of funds when they should have had ample money to meet obligations is strange to say the least. They spent a whack of money with Greenhill or whoever the consultant was for the past few months and have come up with a vague offering that will likely fail. Proceed at your own risk, there's something bad in the water at headquarters. Congrats MT, just when you think there are no more bonehead moves left to make, you find one!
mingzhu wrote: 350 m secured loan is about the same size of book value of CXR. book value is close to zero now.
It cannot sell stocks, the reasons i mentioned earlier, now they sell debt to private firm. the interest must be higher than 9%, so 35m is added to that of 3.2 b. This is classical debt spiral.
CXR has value of course, but only for debtor not shareholders.
it is on the verge of collapse, vertually in emergency room now. Wow, people are cheering the loan.