As you probably know, Unitek Global Services announced yesterday that it was successful in closing on the refinancing of the revolver -- a key step in locking down the relationship with DirecTV.
Although, of course, the devil is in the detail and the SEC filings detailing the refinancing have not yet been publicized, I think it is time for us all to congratulate the Unitek Global Services team on a job well done.
In the press-release discussing the refinancing, the company also updated on the work on the restatement and overall financing, and I thought that the message was very reassuring.
I am pleased with the progress that the company is making, and I am looking forward to the press-release announcing the effective return to normalcy and operational focus.
Way to go Unitek! Now close with DirecTV, publish the restatement, and move on (and, of course, lest we forget, fight the frivolous lawsuits and recoup whatever money possible from the defrauding parties and from the auditors.)