Don't unerestimate the devastating impact of the loss of a son
It has been only 11 days since the death of Ken Kenworthy's son. I doubt he has nothing but grief on his mind. It is quite possible he would want to even leave the company. Or stay as a diversion from grief. Who knows. As a human my heart goes out to he and his family. As an investor another may need to be at least put in temporary charge.
Blackstone is no dummy of a company. They look for opportunities like GMXR and buy in a position with intentions of turning things around and making a substantial profit. Everyone is interpreting the clause of "restructuring the balance sheet" to mean BK. It doesn't. it can mean many things and I suspect the sale of asset to take down the debt. One thing they should do is buy out the 1.8 million preferred to save on interest expense. That would take 45 million ($25per share). Then sales of other assets to raise operational cash.
Personally I am a buyer of the preferred but if the common goes much lower it would be hard not to start buying that as well.
BDillon, he was born 10 week premature, his last rite was read but he survived the first night and 31 yearsafter ward. He left two children and wife. Most of the very early premature born infants suffer life threatening conditions when growing up, even in adulthood. A mother's womb is the perfect place for futes to grow, no artificial incubators can match 10% of God's gift.