Does anyone understand how there is only $30 million available for borrowing under the LOC??
As of October 31, 2013, there was $30.1 million principal amount of available borrowings under the loan arrangement.
How is this possible when the outstand was only 124 million end of june and 78 mil is going to be cancelled for Al's warrants. Anyone get this?
The amount converted reduced the amount owed on the loc...it did not make those funds available to borrow on, but based on the money coming in and after the payment of $115m for the 2013 bonds there will be $93m in cash and loc plus they can get $50m from the ATM...so they should be good until approval. I think they announce a partnership mid December