Or, just wait for an announcement. What got me- was I'd totally missed it in the 10-K before. Had not even seen that part about needing to renew by Q1 (meaning these past few months) and the loan maturing end of 2013? That's the main point. Don't know how, in reading the 10-K, it just slipped by?
Seems kinda important IMO? So far, it seems they've renewed every time as needed. But found it interesting to put in the "not in default as of Dec 31, 2013" language. That could just be standard language given that the loan was to mature/end on that date- but they obviously had to be well aware of that and were already in the talks or whatever it is they have to do, to sit down and do the "renew" or re-negotiate part.
Just not sure why they don't get one of these guys to just pay it off though? If the "guarantor" has the clout to put up some sort of "letter/line of credit" or whatever it is they have to put on "deposit" at Seaside bank- then it seems they could certainly come up with that principal amount w/o too much sweat? Seems like they're (BHRT) accumulating more fees and interest and stuff than it would cost to pay it off? Why not let the "guarantor" become the debt holder and pay them a nice interest rate? That's all? If the guarantor believes enough in the future of the biz, then why not help um out and just buy-out that loan from the bank and become the note holder? It seems like perhaps it's not getting any re-payment made on it as they, BHRT just don't have adequate cash/cash flow to make any payments on it? So it sort of hangs out there, in 2nd position to Northstar in a sort of holding pattern, accumulating interest and all- but never getting paid down, at least not as of yet? But it's been since 2010?
Had others seen this loan being "renewed" and "re-guaranteed" essentially every year, I wonder? Cause that one, I gotta admit, I had totally missed- never even jumped out at me on the page or even caught my eye in any read of the 10-K or similar?
