RE:RE:crx set the financial report on friday, aug. 11rad10 wrote: mingzhu wrote: It must be a bad report. they want people to forgive them after weekend.
Debtholders are sharpening the carving knifes. The turkey will get carved up before US thanksgiving.................... EBIDTA 57 million first quarter with almost 4 billion in liabilities............................. Its not rocket science - restructuring is inevitable.
Agreed. Interest is 290 and ebitda is 314. They can save 150 by equitizing the bonds so the set up is good but timing is uncertain. Unsecured bonds are already priced for October 15 coupon default. I would think they will make the October 1st coupon on the secureds.
Good luck to all .. hard to know what the catalyst will be. Unfortunate that the borrow on this is 100% as it is a no brainer to short into October.