Preferred holders objection to DIP make good arguments (read Doc #274)
Doc #274 is a quick and easy read. They have good arguments against the construct of the DIP agreement, not the DIP money itself, but the one-sided nature of the agreement. Preferred are up 2 days in a row now, possibly due to the Preferred finally getting some representation.
Anyone new to this board should read "Let's try again......" post topic by joechentva. this is the best deductive reasoning so far and pretty well sums it all up.
Preferred shareholders, Brian Burr, Taylor Burr, Michael Burr, Brad Keiller, and DCB
Capital, LLC (collectively the “Preferred Shareholders”), are being represented by Neal Tomlins, OBA No. 10499 TOMLINS & PETERS, PLLC and E. F. Mano DeAyala, TBA 00783946
Buck Keenan LLP from the documents I've seen.