RE:RE:Pinetree Situation Good info however where does it say new management wont continue to unload. This paragraph seemed a little unsettling for the near future. It appears the desperately need money and will use any liquidity of their Level 1 equities (AAO) to get it?
Hopefully someone can offer further insight to how I may be interpreting this incorrectly?
Ill admit I didnt not diligently read through word for word of the reports entirety.
"Level 1 assets included $14.2 million in equities – likely consisting of PTK, APS and AAO equities. They do have a minor amount of PRK and LAT, but disposal of these equities will prove to be difficult given the lack of liquidity.
Let’s pretend they liquidated enough Level 1 assets to pay the $2.9 million residual (or they were actually successful in liquidating some of their Level 3 assets, which would be a minor accomplishment). This leaves them with $11.3 million in Level 1 assets remaining to bridge a $14-15 million expense requirement over the next 7 months.
In other words, even if they were to get perfect liquidity on their Level 1 assets the next half year, they still are going to be short on cash."