agian. this is all or bust play......
wait till common crumbles drop hard into the lowest range
get long on common
as well slap the trade with hedge on the perferred much lower as well.
all or nothing
We rode tall in the saddle all the way down based on asset value
ride this beast like one of the 4 horseman.
trade where others fear to trade-
Unsecured folks are objecting to the "Plan". They say secured folks (GSO/BlkStone/Chatham) are not only taking care of themselves, but making an additional 35% on the DIP, thus forcing GMXR into even more indebtedness to the secured and placing GMXR, the unsecured , and shareholders at even greater risk. They say it is not important for GMXR to use the DIP to run the business full-speed-ahead, and it would be better to sort things out now. HOWEVER.... if GMXR does not work with the secured folks, the secured folks could force Ch-7 liquidation.