When you have $12.3 million currently due, and only $29,144 in cash and $760,000 in A/R, how do they pay the currents now due?
When to the creditors call it a day? The creditors know they have no way to service the debt, do not have the assets to secure the debt, have failed to secure financing to service the debt, at what point does BK become an reality.
Did you see the operating losses? If they don't have the working capital to service the overwhelming debt, its only a matter of when. Why do you think the CEO resigned. Nobody is drilling for $30-$40 oil. If they are not drilling, NESV is not hauling.