I don't undertstand your answer mas:
You wrote:
<<At the current 56c every dollar of this debt pays back one dollar of principal and six dollars of profit which is coming out of retail shareholder hide.>>
If the price was at 80c then every dollar of this debt pays back one dollar of principal and NINE dollars of profit which is coming out of retail shareholder hide, right? THAT was my point: ANYTHING that raises the share price is GOOD for DMRJ, which includes discussion of a refinancing. Of course they don't want the gravy train to end, but wishing doesn't make it so--that's why it makes little sense to me that they would have some kind of requirement for management to not talk about refinancing with shareholders--it helps the price which helps put extra millions in DMRJ's pocket. That's why the concept doesn't make sense to me -- it seems incredibly childish and even counterproductive(ie stupid) to want IMSC to pretend in front of retail shareholders that they have little intention of cleaning up their house. Again, I don't recall what GB said re the refinancing but I'm having a hard time seeing any justification for him getting fired over it.
AM I doing something wrong with the math here?
I didn't understand what you meant by your first sentence though:
<<Because their $4-5m of 8c convertible debt & interest only gets re-paid at $4-5m rather than at a pps/8c multiple when sold on the open market.>> They still sell it at market. It's the cost basis that is at .08, no?
