Cleared up two big hurdles. California Carbon Credits now back on line after court ruling. No longer in default of bank obligations and also credit line extension with PNC. Positive conference call tone from CEO.
While the Carbon credits are a total positive and I couldn't be more pleased at their continuance, the real trauma resolved was indeed those loan covenants being waived (can't go below a minimum share price--that's what was in default). The price gets pushed down by illicit and manipulative trading of the stock and since banks are loathe to possess a company/corporation they'd have been more than happy to sell those notes to nearly any who offered to take them off their hands. Whew! Now the price can return to a more normal trade range and if there's any good news in earnings (a likely scenario), the price will act accordingly.