RE: RE: RE: Today In any of the two following events, financing will have to be secured quickly.
If an extension is to be granted there has to be funds available via DIP Lenders (Debtor in possession credit facility). The four DIP lenders had to increase their contribution from $175,000 to $300,000 to cover operation until Jan 18th (Don Ross, David Beutel, David Campbell and Ted Dzialowski).
If a deal has been made with the two bidders, Futura needs financing.. There's not enough cash flow from operations to be self sufficient. However, I would not want to see more debt on the books.
All of this builds up to an interesting week ahead. It seems like an all or nothing scenario, like a casino with the roulette wheel spinning. But that's business. Put your money down, take your chance.