Top Shelf Brands Holdings Corp. (DKTS)

[Carini]

"Lenders may be able to get 25% of their notes paid by DKTS simply because of the "use of proceeds" clause, but that would be about it."

This is almost too wrong to even bother commenting on, but I'll try.

DKTS is contractually bound to fulfill its promise to repay the loans. It doesn't matter if AP ran the company into the ground or sold its assets out the back door and now has no money to repay. The company still owes the money. Whether they will ever get it, or something in lieu of it, remains to be seen.