RE: Out of curiousity sake... "so preferably one that doubleindemnity, onereality, or phoenix would answer instead of the special people on this board who post their one liners of going to 50 cents tomorrow or going to zero tomorrow. "
LOL...So you have the same opinion of our "Special" penny flipping message board tumbleweeds as I do. "This company is grossly undervalued and going to $1.37 by next Thursday...By the way what was the name of this company again?...Of right, Yellow something...GO YELLOW GO !!!!."
To answer your question...Yes.... I will give you another possibility that is rolling through my mind and it is not pie-in-the-sky, as it has been done before. If their real intent is to go for CCAA then a direct run after they qualify but are still technically cash flow positive would have the shareholders screaming that management sold them out without even trying to protect their interests as their fiduciary responsibility says they must. How could they easily avoid that confrontation? Create a proposal that the courts would not sanction and therefore allow management to say "Hey it is out of our hands. We made a good proposal for the shareholders but it is the courts that rejected it so our hands are clean...You know...The Pontius Pilate approach.
As I said, it is just a possibility and the Deb's are hanging around $4 in respectable volume so I know I am not alone in entertaining the notion that this proposal was a made to fail farce... or at least that it is so far out in left field that it will be delayed long enough that it will not get enacted before the Oct.1 $3.25 interest date on the Deb's which would trigger an automatic legal default if not paid which would in turn muddy the waters so bad that not even a Carp would be able to swin through it ...We shall see.