RE: I am sorry to say PSN is cooked Correction to previous post. In front of net assets I omitted the word current. The net current assets would be $37.8 million after adjustment of new figures which means that the company does not have enough current assets to payoff of bank loan of $55.5m. However the company would have total assets of about $99.7m which are enough to pay off the bank debt. For this the bank / company would have to liquidate the property/assets. We do not know what the company will get for its total assets of $99.7m in a distress sale.. This amount incudes cash $3.4 AR $23.5m Prepaid Exp $4.3 Inventory $6.5m Def Taxes $2.5 Property 59.4m. Now on the liabilities there are account payables of $23.1million. Dividend payable $14.8 if you add the last div announced. Current taxes $6.6mDef taxes $1.6m. After corrections / adjustments & increased expenses the balance sheet would be very ugly & the company has to be very low on cash. I have a feeling that the present outstanding loan would be much larger than $55.5m. Now the question is who is going to give them cash if they do not have positive cash flow. Will the bank allow them to draw against the remaining LOC. One more thing any changes in their LOC is material information & the company has to disclose it. So it can be assumed that they still have the LOC of $100m & the loan has not been called. My guess is the next news would be about the bank loan.