From the new EBITDA covenant levels: for the 4 quarters ending 3/31/12, the company is required to have $160mm in EBITDA; for the 4 quarters ending 3/31/13, the minimum requirement is $200mm - meaning, the Company is only required to have $40 million in additional EBITDA for the entire next 12 months. Wow they've really set the bar low - management must not be too excited about future results
And the lenders agreed unanimously. They have the insight to the company's books. And they have very smart accountants (not message board accountants) that gave the ok. You are really working hard and are sounding quite desperate.