GREY:MLKKF - Post by User
Post by
Doggimon Aug 18, 2009 12:10pm
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Post# 16227705
Just spoke to Marc
Just spoke to MarcBefore I start.....the info I am about to share is in no way insider information, and I am by no means in their pocket sort of speak. Rather the info I place on this board is just a clarification and look forward to what we can expect in the future via my discussion with Marc this morning.
Yes, they are looking at re-structuring their debt, and this was relayed to investors in their July NR. That is, they have noteholder consent to try to alleviate the debt.......which to my understanding is at 11.5% Had they not been given approval from the noteholders they would've had to wait until Feb 15, 2010 before they could move on this. Right now, they are looking at an acquisition of monies struck at 6 -7% interest, which would alleviate the EDIBTA and would save them 6.5 million a month. The target date.....and this is where Marc could not make any promises is by mid or end of Sept. However, if I read his tone correctly this will come to fruition.....and I was reminded that they do not need noteholders consent again. In other words, they get the loan......the noteholders are paid.....they start saving money
Thats it........I hope this helps....and if I have used some terms incorrectly I apologize.....but I am not attempting to deceive or trick you. I am like most of you on this BB.......just trying to make some cash amongst the sharks.....lol.
GLTA