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  • sheetwise sheetwise Apr 7, 2011 8:11 PM Flag

    Here's the Deal Summary

    Is this good for the Lenders or the Company?

    Well, that's the problem. It's the same people.

    The $60 million loan previously didn't have a due date. It was tied to the company reaching a certain working capital amount. Could be a year, could be 10 years or never..interest free.....

    Now it's due in 3 years.If the stock is way up and they convert, great. But if it isn't, the $60 million is due. Such a deal.

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