Yes, I saw that they had the $3.1M due on March 31. Since a month has gone by and there have been no filings or any information on it, I believe they were successful in getting some of the $11.4M they were owed in ARs paid and using that cash flow for the debenture. They said that that was going to be a major focus for them. They may have even made a deal to speed up collections for a lower amount of cash. I know LTUS.OB was very successful in doing that last q, and the two companies shared the same CFO (until last week). At any rate, it may already be priced in since we're trading at a PE of around 0.7 on over 100% net income growth in the mrq. and revenue projected at $90M for fy 2009.
As for the decision that they will no longer act as a bank, allowing repayment over 10 or 20 years, I only see that as a positive for their cash flow going forward...assuming of course they continue to break ground on new projects.
I truly believe that the main thing this company has lacked over the last year or so is exposure...and they know it. The good thing is that the exposure they'll be getting with the China Rising Conference and webcast is coming at the perfect time. The stock is coming off it's bottom, the global economy is starting to strengthen, and there is a ton of cash ready to invest in the beaten down, fast growers like this one.
