We should know soon about the cost of Norit. They should have tried to cut a deal vs wait for the arb panel (who appears to think ADA should be punished).
Else they should have set up a $20 to $30 million line of credit. Even if it cost a few million in fees, it would elimcate the chapter 11 risk. With the Goldman cash, they likely have about $40 million in cash on hand. Guess is they'll need to write a check for $50 to $55 million soon. Just my opinion.