RE: management should do the PP nowThat's ridiculous. Leader needs to put several good qtrs on the books to increase the share price.
They made 2.2million in net profits last qtr. That's more than enough to pay interest on 15million at 12%, which is 1.8million per year. No principal payments are necessary until loan maturity in 2 years.
If they maintain the current level of profitability, they will qualify to refinance the debt at a lower rate. Issuing shares at .60 would mean a lot of unnecessary dilution now versus the potential to reach a more reasonable stock price level before issuing stock or refinancing at more favorable terms.