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5cap

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5cap

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Re: None

Thursday, 10/08/2009 4:26:59 PM

Thursday, October 08, 2009 4:26:59 PM

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Chart looks good but is there a chance of default next week?

Credit line balance at the start of the year $82.7 Million.
As of Sept 30 $100.1 Million.

Extensions to the terms of the credit line have been given by the lenders multiple times, with the following deadlines:

May 31
June 5
June 30
Sept 9
Sept 30
Oct 13

I'm not familiar with TLCVision, but it seems that the company has a large amount of current debt and I'm guessing they are having trouble securing long term financing. Is that correct and is this a death spiral situation?
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