Sorry Jobe, the key announcement was that Deerfield and Mid-Cap are only letting the default slide until later this year. In the meantime, ATEC gets to pay $500K for the pleasure and pay untenable debt service along the way, and they have been completely unsuccessful in finding a new senior lender. Until they get their nuts out of the greedy fists of the current lenders, the stock ain't going nowhere.
You are correct. But a $500,000 penalty coupled with the now-astronomical debt service weakens ATEC financially and makes it more difficult for ATEC to get a tenable re-structure done with a new senior lender.
Agreed. That's why I rated it a "Buy" in spite of greedy current lenders. Those lenders own a lot of stock. If they would facilitate the re-structure instead of continually taking their pound of flesh, the stock would go up at least 500%. But that would make too much sense.
No class action lawsuit is possible. The company and the people who run it haven't sold any stock, haven't taken any money out of the company, or lied in company filings. Additionally, there is no pot of gold to go after. No cash balance, no unencumbered assets, and the people who run the company are not deep pockets. Your statement that you purchased at .0005 says it all. Anybody who purchases any stock at .0005 must be prepared to lose all their money with no recourse. You knew this wasn't NYSE or Nasdaq when you bought. Still might pop to half a penny. We'll see.