Drinks Americas Holdings, Ltd. (DKAM)

[Toxic Avenger]

Please read carefully. What the 8K says (and I what I pointed out), is that Sovereign Bank reduced the company's credit line from $10 million to $300k. That's a 97% reduction as $300k is 3% of $10 million. "its (DKAM's) lender (Sovereign Bank) has reduced its credit line by 97%". No more, no less.

Maybe quoting from the 8K filing will help:
"5. Section 2.1 of the Loan Agreement is hereby modified so that from the date hereof the Advance Limit (the maximum outstanding principal balance of Advances under the Revolving Credit Facility provided for in Section 2.1) is Three Hundred Thousand Dollars ($300,000.00) instead of the current Advance Limit of Ten Million Dollars ($10,000,000.00)."

Slander? Call the company to have them explain the 8K? Off Topic? Here's a thought. Since you believe it's an error and since you have excellent lines of communication with the company, why don't you correct me. Or, if that's not possible, please advise us as to the information the company has given you that indicates this has been resolved. Better still, a revised shareholder letter addressing current plans and status might be an excellent idea. That will at least take it from the realm of "anonymous MB speculation" to "real". Once again, TIA.