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  • longbpl longbpl Dec 1, 2004 1:58 PM Flag

    6.80 is too high

    Yeah, have to wonder why 4x prime? What's managements problem? With only 17 million shares outstanding, issue more and get rid of the debt....always a question of equity or debt, i prefer debt, but not when it's 4x prime, much better way to go is equity....

    Not sure I understand what is going on here...

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    • My bet is that management thought they could negotiate a recovery of the money owed that led to the 20 million loan in the first place making the whole problem disappear.

      That hasn't happened as fast as they exected (or hoped) and we are now paying the price.

      It's a reasonable guess because everything they do regarding this loan is in short term 3 - 6 month increments.

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