RE:RE:how to value it...from memory... think that PIF did work out terms with banks and were possibly going to get even better terms after recap. Terms as I remember were something like they have until end of 2017 to get above the 55MW.. which they can surely do with new cash.
Funny I tried to get some bonds.. called firm that sold them.. inquired about bonds.. was told he did not think anyone would buy them.. like I was a current holder looking to sell.. when I told I wanted to buy some, he was interested.. he was going to inquire about what discount holders would consider.. but then a few days later, told me they would not handle the transaction as i was a US citizen. Bummer would have been nice to bonds at discount to have them converted at face to stock at .005 or $8 depending.
I got quite a few shares at .005 but lost quite a bit on shares I got from .06 on the way down. Still down over all. If stock gets back to 16 or 20 then I am good. Still think this project with 3 more wells in SJE will be a cash cow.. those wells are pure profit as current cash meets all bills. If i had $20M.. I would have invested along with Recap folks.. Old management sucks.. they lost $500 M and never completed one stable project.. just wish I could tatoo "LOSER" on their foreheads, pathetic. Hopefully new management is better..