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Black8

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Black8

Re: LAMBSHIFT post# 19377

Wednesday, 04/11/2012 11:40:49 AM

Wednesday, April 11, 2012 11:40:49 AM

Post# of 130765
Not a bad idea for them if their debt holders agreed to that, but as far as I can see PwC represents a senior lien holder on millions of EPGL debt. They are not going to substitute senior security for a royalty agreement, unsecured. A conversion from debt to equity is the way they are doing it according to PR. That will effectively wipe out the toxic debt currently on EPGL's balance sheet.
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