Are all these "together" and "confident" shareholders going to pay the debt? There's about $100M, or about 80 cents per share. If that is done, then instead of an emtpy, debt ridden shell, it would be just an empty shell. I'm sure some of the creditors would make a deal for some equity if a business plan for the empty shell is brought forward (ie - gonna have to start a business from scratch those creditors will believe... of course, there'll be capital needs to start said business from scratch, but, hey, I'm sure those same shareholders will be willing to toss more money down into the pit after spending the millions it would take to sit down with each and every creditor to make the deal, the whole multi-page list of them).
In the business world (and in life), that's known as "throwing good money after bad."
