Loan Paid off; Now ZERO debt. Obviously no bk contemplated. Buy-out coming.
This is indeed a great news.This will save them a bundle on interest payments. It is obvious they are trying to save cash to continue with the investigation while cleaning up the books for possible buy out. This proves bk is out of question or they would not have paid of the loan. Nobody in their right minds pays off their only loan of nearly $10 million if they were going to file bk. It just does not happen that way.
Loan payoff was disclosed in Affymax's 2012 10K. Affymax reported that it "may be in breach" of its Loan Agreement and accounted for paying off the Loan, plus interest, plus prepayment penalty as a current liability. This is just another nail in the AFFY coffin.