can you please elaborate on what you think "the deferred payment was profitable" means? Do you have any idea what you are talking about? WRES missed an interest payment and is now in default of all of its credit agreements. There was nothing "profitable" about this.
The press release this morning seemed very clear to me. WRES is in default of its credit agreements and expects to restructure the balance sheet. Whether or not they do it under bankruptcy protection or via an agreement with their lenders, the current shareholders are about to be wiped out. Why is the stock not down -80% today? What am I missing?