RE: RE: RE: Debt v. Grant thank you for the polite reply.
interest payments are taken into account when using the 3M Quarterly cashflow (AFTER interest).
Ok, it's a rough calculation but hey, maybe you should provide more detailed numbers.
Ok, the commitments on page 15 could need some additional financing, so what.
Whether they need 2.3 or 5.1M, both are doable (ok, maybe at a rate of 20%).
debt service ratio's are a concern, the restricted cash is restricted so nothing happens with that.
So, as I agreed with you before, it all depends on the Windstar cashflow production.
And I am rather confident Windstar cashflow will suffise to end the year with a financing gap that can be bridged.
I agree with you also that management should not provide a foggy explanation/forecast during the conference call.
B