Ok, so that was June 30. Since that time they sold trader and received $708 million, CASH. They reduced the dividend and increased Free Cash Flow and they have already maxed out the NCIB for Pref A and B at prices much lower than the Face Value. Again, that saves more cash on the Pref dividend.
I am more worried about the execution of the business model than the debt load(although I am not unconcerned)I would expect MORE bad news since it is in YLO's interest to keep releasing bad news as they try to buy up what they can at these prices.
Anyway, I bought some more today but this is definitely a speculative play.