RE:RE:RE:Time is of the essence - does a deal get sorted out The way i understand the deal is ZENA had to pay 7 million cash interest on the 58 Million debt owed by Decemeber 31 ;; Sundial had bought the debt balance of 51 million ;; the only way zena could make the payment was to sell a big wack of inventory at (what I beleive) firesale pricing to come up with the money ;; Sundial was hoping zena defaulted and thus force a possible merger
fundamentalinvestor wrote: I view the agreement as an option - Company A says - Hey I'll give you the $7M you need to pay your loan payment - if you give me the option of either acquiting $7M in a private placement and enter into exclusive merger discussions or if don't chose that i have the "option" to take it in supply.
You see it different?