RE: The Other ScenerioThere are only two options for the debentures. As a going concern AG has to pay cash or pay shares to the holders. Paying shares would not only piss off the existing shareholders, it would also devalue the rights/warrants that the lender got when they bankrolled AG. Massive dilution for existing shareholders if they pay in shares because once they announce it, the price plumments and they have to issue even more shares based on the average price of shares in the previous 10days prior to payment.
I have owned the debs for years. I don't want the shares, nor do I have to refinance by accepting new debs, regardless of the price. I'm looking for the cash, plain and simple. If they want to do a new issue that is separate from existing deb holders.