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Sunday, December 04, 2011 3:01:51 PM
1) they are pretty well maxed out on their debt;
2) just about every equity raise they've done in the last year is now under water or very close to being so;
3) to get their last equity raise done, last July, they needed to include some of the most toxic, investor-friendly, provisions I've ever seen.
Given the the above it seems unrealistic to expect that ASEN would be able to raise a significant amount of cash at this time, whether by issuance of debt or equity. Will may be a superstar negotiator but he can't squeeze blood from a stone.
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