Friday, November 01, 2019 4:36:59 PM
On the other hand, it's pretty easy to read into it what you and D have - their lenders had no choice but to convert debt to stock - anything is better than nuthin'. It also kicks the can down the road. Perhaps the auditors won't make Freidheim & Co. expose the write-down in 2019, and he bought himself time to try to hide the pyramid in the sand.
It wouldn't surprise me at all if the, uh, reputable, uh, "Luxembourg", uh, bank winds up issuing ANY more debt once the dust settles. Ahhhh, the old shell game . . .
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