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Eagle Bulk Shipping, Inc. Message Board

  • pkmcro pkmcro May 30, 2012 11:29 AM Flag

    PR from Eagle at the close?

    I am assuming we get some PR from the company today at the close. Im very curious if we get confirmation of the Lloyds article. If they did get an extension I wonder if it cost anything. I have gotten more bearish on the situation since March. I think their cashflow situation is getting worse. My guess is at the end of May 31st their cash balance is around 30 or 31 million. Assumimg RBS forces Eagle to make the payment in July 31st, if they have enough to make the payment it will be by a hair. At that point, dont be surprised if counterparties demand cash upfront for all transactions. I certainly would not be willing to wait 30 to 90 days to get a check from Eagle accounts payable, knowing they had zero in the bank and no credit line.

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