My interpretation on 11:59 PM, May 4th - Lenders can provide notice of end of forbearance period after that date. If they do forbearance period ends 2 days after notice which would mean the earliest it would end under that clause is 11:59 PM May 6th. Note that it could end earlier as a result of "forbearance default".
But what happens if forbearance period ends? It could mean that Lenders claim that company is officially in default.
i will say a prayer for your recovery.
Agree. hero pushed back and the lenders are giving themselves until may 4th to dispute the agreement. - more of a cya than magnanimity. on may 5th hero is in default with shipyard if they dont take possession of the rig. what a drama. we may see more action than at a trump rally.
we may see the beginning of a bearish pattern on Americanbulls tonight, requiring followup confirmation for a sell signal. this fits with end of forbearance period. i exited remaining position (basis in the low 1's) today
unless there earnings or takeover interest, it looks like the recent rise is not sustainable. its seems to be on a path toward meeting the $35M cap requirement (10 consecutive days to requalify) only to have it interrupted
something must happen by end of day tomorrow. i do not expect PR but I do expect 8-K sec filing. with the forbearance issue there was a 3 day time lag between the initiation of forbearance and the filing date.
they have until tomorrow. i wish i was as confident as you. if the issues are as small as you say, then a shareholder friendly company (not hero) would issue a PR
I would play hardball w creditors - secure loan elsewhere and take possession of Highlander. Existing creditors acting like heartless vultures.