No.only the first 160mm,, the extra 100mm was the surprise. Next week is the key for all of us Dude...Weird option trading tells me something is floating around..What maniac buys 1000 contracts 1.70 0ut of the money? For 30,000 bucks...?
Agreed, thought it was a weird trade. Ya gotta think its going to .05 if your putting up 30g's. $1.70 out of the money. Must be some rumor about an imminent filing we don't know about. Recall someone bought 1000 April 2 puts that expired worthless as well. Paid 15c for those with about 1 week till expiry. Mid Oct would suggest they miss the payment in June, file a prepack Mid July before the Grace period ends and exit by the Oct expiry 3 months later. Someone swinging for the fences, can't imagine its a pro.
PI, The auditors didn't issue a going concern for the year end cause the additional 100 million of BOEM was not known at that time, if it was the answer would have been a likely going concern qualification. Lets see what the company says next couple weeks. Bonds are now 16-18, not great but better than 10-12. This will play out very soon. If there's value for you, there's value for me and Cube.
Whats gonna happen to him if the bonds are like 75 and the stock still 2.5-$3? Does he jump?
Good point. If they don't make the bank payment they should announce that. That would be an event of default which is a material change.
which was 3/23. Talk to us Tracy
Not sure how you get that number, anyway all are refundable deposits. And like the X, which took 22,000 of pre-orders...only 5000 have been registered
PI,, Hate to say it..equity going down...For cube and I its pay or die...pay and you and Tracy wins, don't pay, and oh well you and Tracy bite the dust..What's it gonna be? There's nothing that can force us to go along except a chapter 11 filing...So for me and cube it's a 10x oh sorry a 6 1/2 x and you survive or coupier takes out the rake. We are in Monte Carlo now looking down the big green parkway...the dice are thrown...snake eyes or? PI we get blown your coming with us
Its years away, so who knows, maybe if oil is $75 they can refi the seconds and ours paper. But your right odds are we see some sort of a swap.
What we do know with 100% certainty is that the large bondholders can't force anything down on us, without a chapter 11 filing. That part is Not a guess, but fact. We were trying figure out a way for Tracy & you to elegantly keep their equity interest while satisfying the Boem.
And also, I forgot it satisfies the second lien covenant, the one if you remember tucked in there deep, the put feature of the second liens, yes they get to put their second liens to Terry at 100c if 50% of the bonds are still outstanding in early '19. So that goes away too. There's one or 2 smart minds working on this lets see what they do...Right now we are guessing