secured debt now 89 cents on the dollarThis company has over 62 million dollars of outstanding interest on 3 unsecured debt instruments - now 2 months overdue.
It wants to restructure more than 2 billion dollars in a debt for equity swap - and the existing equity holders expect to make out like bandits! Please note this is less than half of the company's total liabilities.
There is only one intelligent place to park your hard earned cash in this pig................
When I see insiders buying or awarding themselves new options we can revisit the situation.
Traders - enjoy the volatility - it will be wild ride for you guys!