Too much variable debt killing them? Is it time to just bite the bullet?
Make a fortress balance sheet.
Do a equity raise of $100 million.
pay off all debt.
stop issuing options, rights, ets to management.
Your stock is your currency. Stop giving it away.
If you can''t do a acquisition with cash, then pass.
Fortress balance sheet is key to grow this company intelligently during a rising rate environment.
Respect outside shareholders.
imo