RE:RE:RE:RE:RE:Powdering the cracks, and covering up the warts and red ink.
Converting the Debs to shares lowers the debt by $34M and saves most of that 3.3M in interest for about a 50% dilution. The potential dilution from the rights offering at .20 VWAP is 322% for 25M$. Money that will be spent on a cap ex program, in this environment why spend the money! They are giving away their "increased production" at a cash flow loss! Why increase the production!!! Do the rights offering at 25% below the market and have it back stopped by Dad. Resulting in a 33% dilution. Potentially Selling a Zillion shares at a nick does not cut it. JMHO