12-01-2015, 07:18 PM
PROPOSED DISPOSAL OF PROPERTY & SUBSIDIARY
Looks like the sale and leaseback arrangement is proceeding. Looks like management is actively tackling the problem. And its also interesting that they were able to obtain waiver of financial covenants from the banks; which implies the banks feel that the situation is not so dire and/or the good working relationship they have with the banks. So these are all positive signs that perhaps they will be able to turn things around.
The company also has outstanding warrants exerciseable Dec 16 that is still in the money. Whether it will still be in the money next year, only time will tell but if it is, then there will be fresh cash injections from exercising the warrants.
Looks like the sale and leaseback arrangement is proceeding. Looks like management is actively tackling the problem. And its also interesting that they were able to obtain waiver of financial covenants from the banks; which implies the banks feel that the situation is not so dire and/or the good working relationship they have with the banks. So these are all positive signs that perhaps they will be able to turn things around.
The company also has outstanding warrants exerciseable Dec 16 that is still in the money. Whether it will still be in the money next year, only time will tell but if it is, then there will be fresh cash injections from exercising the warrants.