Thursday, September 22, 2016 7:44:08 PM
Starting with Tandberg, which then went bankrupt, then Overland that they had to keep propping up, then ANY, then the combined co.
They own it in multiple funds so it's highly probable that their newer money is in the debt and the older money is in the common shares. They may have to explain to there investors that they aren't using new investors to keep bailing out old investors, and so on.
They are probably marking their convertible debt at par on their books.
In summary after 8 years and $80-90M blown they may literally be facing the possibility of a donut.
Perhaps easier for them to dribble in a little more (maybe up to the $5M they took back from Opus) and hope and pray for salvation or even engineer yet another merger with some other disaster (IMHO).
Cyrus wiped out the Tandberg shareholders. They may get wiped out themselves. On thing is for certain (IMHO only), they dont have the luxury of caring about anyone else's behind here.
All IMHO and speculation only.
By the way, I predicted this Cyrus capital infusion.
If they had to raise $2.5M by mid Sept it probably means Q3 is looking more or less like Q2. Which means this $2.5M may only last them until Halloween or thereabouts. IMHO
I can't believe they sat on this news for a week, to be honest....
IMHO and guessing only....
________________________________________________________
Caller: But why did you back away from your prior guidance?
Eric Kelly: I am sorry? Hello?
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