RE: RE: Comparison If only management listen to my suggestions posted here.
9-10 months ago I suggested that they hit the explore the "Strategic Alternative Buttom".
Then some few months later, I suggested that they sell the 70k inventory, even at a loss as this has already been expensed on the balance sheet. That it was imperitive for cash flow reasons.
At this point, there are two things to consider.
The assets of NECC has been put up for the $50 mil. loan. Even if they call on the loan and take over, this may not be a palatable option as they will certainly have to find new caretaker management and incur costs going forward with uncertainty as to when things may improved. Very tough call to make.
Lets not forget that typically, if they choose to call the loan, then management would have to make public that they have been served notice of intent to force their right to recover.
It's important to note that Cline has not served anything in this regard. Of course this may be coming, but as yet it would seem that the bondholders have yet to exercise their right.