Post by
teevee on Nov 25, 2014 4:03pm
wonder what the Toronto vulture funds think now?
I wonder what the toronto vulture funds that didn't like the .825 on the dollar offer for the debentures think now? The only way they can cut SOME of their losses is to short on ANY bid at ANY price, and then drive the stock down to $.005 or half a cent at conversion, and then deliver/cover when the debenture is converted to stock at market. ARN is the best, safest short anywhere, even at this price.
Comment by
teevee on Nov 25, 2014 8:05pm
Further to my previous post, not being in a position to redeem the debentures for cash, and with the remaining option under the terms of the debenture to redeem with stock, ARN is now effectively locked into something similiar to a "death spiral" convertible debt issue, as the alternative (although seemingly not any better for shareholders and debenture holders) is default.