Chapter 11 may be closer than many expect. I'm guessing they will file within 30-90 days. Confidence is eroding, and the recent financial results, in their horrendousness, are going to hasten that.
I have no position in the stock.
From the 10-Q...
"Our continuing efforts to improve liquidity include actions to manage inventories to meet current demand, reduce expenses and capital expenditures, and extend payments to third parties through delayed payments. There can be no assurance that the Company will be able to continue to extend payments to third parties through delayed payments."
I don't agree. What you and I read in the statutory filings are old news and at this very point in time payment terms will have been renegotiated, or suppliers changed. It is still a purchasers market, don't forget.
We know nothing for certain, and all the claims of BK are simple scare-mongering at best, or at worst - misplaced manipulation attempts by shorts - you know who you are ;-)
Per my previous post, basic valuation maths puts this company at 1.16$ - pricing in continued burn (and yes, pensions too).
The bottom line is that anyone can now walk in and purchase this company for probably 10M$. I see that the most likely outcome, and will be already discussed or even negotiated now. Other option is equity issue, with dilution offset by negated cash-burn.
Yes, it is a risk, but priced in, and worth it in my opinion. The other side of the coin is to short this one, but that is hugely risky in my opinion given the probability of a purchaser appearing.
Each to their own.
You are horribly, horribly naive. You have a long position, and "want to believe" too badly, because you are unwilling to face the pain. As a result, you will lose your ENTIRE investment. You will pay the price for sticking your head in the sand. That is sad.
TWTC123 - you are a moron. Lane plants are closed today (and last Fri.) because raw material suppliers refuse to ship FBN due to AR concerns. Until you know the facts, stop posting nonsensical theories.