Post by
rad10 on Jun 27, 2017 12:13pm
hi lattice
The article you posted is awesome - much appreciated. The paragraph highlighted in bold is interesting. Is the percentage ownership of the debt increased because they are buying secured notes on the open market, or because the credit line is being drawn down?
Any ideas? Need to start making some calls.
PS - laughable that the most useful posting in weeks receives a lofty one star rating - lol
Comment by
Iattice on Jun 28, 2017 11:45am
Rad, You are smarter than I am for sure. I thought their credit line was being drawn down a long time ago and believed GS sold out their part of the bridge loan to some douchebag so they could offer the first lien bonds - they make 30MM in commissions to move up and make up for the $ they lost on the bridge. But I really don't know and fora $2 stock I am barely interested.
Comment by
rad10 on Jun 28, 2017 12:08pm
Not so sure about that Lattice - I lost 50K on the common stock wiping out most gains on IBG and FTP debenture redemptions. Looks like the vulture funds are circling with an overall increase in ownership of the secured debt. Equity and unsecured holders are screwed further................