BBI has plenty of play left in it (for at least until the next earning report). Slim chance, but it could end up like SIRI, but they will have to show a big improvement next quarter, which isn't likely.
They won't file for BK for at least four months. If they do file, it would probably be in the fall toward the end of the year. As you know, they just issued a PR stating they feel they have liquidity for the rest of the year, but if they show a big fall off in cash flow next earnings, this could force a BK by the end of the year or sooner.
I disagree, the bonds and common are already pricing in bad #'s
If you look at other Bk names most are above .10 and they have absolutely no change of having value. A reverse split and conversion will be worse on the common than a BK. and thats the funny part!
Keyes will have to do some miracle here, of course a lot has to do with how much the 2012 BH will give in. I say it all depends on next quarter earnings . If business con't to deteriorate, nothing will save them.