Have you noticed that anytime there is a pop in the stock price for SUNE, it's followed with a barrage or negative articles that in fact duplicate one article, usually WSJ and Lizzie at 30 second prior to the closing of the after-market? Stock hit .83 two Friday pre-market and clearly was headed over 1 when they were at it again.
Have you also noticed that even though the articles are always about the same thing, they still drive the price down significantly as if they're presenting something new? On March 22 a "source" told a lady about DIP talks. Then accounting investigation. Then BK. It went to .20. Popped to .83 then articles say BK again, back to the .20s. Wasn't BK already factored in to drive it from 2 to .20 already?
Also on the matter of debt, 12B is not all SUNE, 4B are the other two companies. And they certainly don't have to pay all now.
Lastly, it's mind-blowing why SUNE would file BK, the worst possible option, when they have so many other options:
- sell assets
- finance better deal
- get 10K out (already know no accounting fraud, which makes DOJ investigation null, maybe a fine)
- fire CEO
The picture of BK from press does not match the reality of 20B assets, and no accounting fraud. They may very well and up BK, but it would make absolutely no sense if that happens.
After an awful week of bad press, I mean negative rumors, where they'd have us believe the world would end if no 10K by yesterday, there is nothing happening today. Stock didn't tank.
On the other hand, if SUNE was going BK, I'd expect them to come out and say it weeks or days ago. I don't believe BK is on the table, I certainly may be wrong but there's a lot happening here.
I see the latest development as positive for SUNE that the CEO the other two companies left. I see that sa Tepper's work and it shows SUNE is in negotiations.
I also saw no reason for this to go BK in the first place, and the rumors did not match the reality. The DIP rumor that took the stock down 40% made no sense, why would SUNE need 300 million? The SEC investigation is old news and it doesn't have anything substantial.
So, SUNE's next press release is all that matters, others can say whatever they wish.
This is one more reason for me to think there's more to this story. The question that ndeangelis1 raised at the top of this thread is "in line" with the CFO statement, too in line.
Last Tuesday, DebtWire wrote about BK based on "sources familiar with the matter" and that sent the stock tumbling -40%. Was that justified, just a rumor to do that? The outcome of those talks could be various options but it shows BK is not at the top of the list. This brilliant piece of rumor was made sure to be regurgitated by every news outlet and presented as a new headline.
Two days later SUNE released 8-K stating blackout until 10K. Monday stock goes up more than 20%. Then WSJ comes in AH, 30 min prior to close of AH to be specific, and states that based on another "source familiar to the matter", SEC is investigating a financial statement from early fall 2015!!!! Stock tumbles 60% as a result of another rumor that cannot be proven because the SEC website has nothing and it may not turn out to prove SUNE cheated, even if there were an investigation.
So, to recap:
1) rumor on 3/22
2) rumor on 3/28
3) SUNE blackout (no press release) and no 10K yet
4) Stock lost 75% in one week
SUNE has its problems, but the "news" last week show blatant manipulation that looks like an orchestrated effort to destroy the common shares and convince people of BK. It's not over yet, until the company makes a statement: BK or 10K. I don't exclude the latter.