No problem. Cash burn will be high in Q4 as they spend more on marketing than originally anticipated, a la project accelerate. I still don't see the bear case where they do not have the liquidity to make it through 2016, including paying those notes. I'm more than willing to keep throwing money at this knowing that they have a bare minimum of those 3 years of solvency to either turn this thing around or get taken over.
Had an order in all day for 1.95. Bumped it up at the end of the day to 2.02 and it went through at the bell. I'll likely add more the next couple of days.
The 1.9B was as of the end of Q3 and did not include the $800+ million from the closing of the tower sales.
The following is Figuereo's comment during the last CC:
"On a pro forma basis, we have about $3 billion, slightly north of $3 billion in liquidity when we take the $2 billion in cash, a little over $800 million from the Tower proceeds, and the supplier financing of $325 million. We also have additional baskets under both of our indentures that we have, largely untapped to this point. So it really -- my concern is to get enough help, our team get enough focus on the growth, because this is really what we need to do in the first half of the next year."
Interesting -- hope it works. The #$%$ part is where he states 'our team get enough focus on the growth' #$%$ has 'the team' (which they keep laying off) been doing the last 4 years? Focusing on raiding the coffers? Seriously, 'Project Acceleration'? Is this a Austin Powers movie? Scary stuff, friends..