Re BK talk, I think given that we've heard NOTHING and the payments are now overdue and the possibility exists that PP wants/needs money ASAP - despite saying otherwise, this subject is completely valid to discuss. My position is that Platinum's situation makes anything possible by them, so the question to me is simply: do they stand to gain more by declaring default than by not declaring default? The only way I think the answer could be 'yes' is if
1. It can wipe out shareholders. That's what a BK could do.
2. They can get the proceeds from selling the IP.
It seems #2 is not likely given the subordination clause in the 10-k, but I'm no expert on these matters. It also seems ISC could make a decent case for being able to pay PP over time without having to sell the IP right away - so no quick fix for PP.
BOTTOM LINE: BK seems unlikely EVEN IF PP needs a big chunk of money ASAP.
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