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Post# of 347009
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Firechief

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Firechief

Re: RRdog post# 89640

Friday, 08/31/2012 2:27:58 PM

Friday, August 31, 2012 2:27:58 PM

Post# of 347009
You and I reached a similar conclusion: the $30M "debt" is good; we're saying the same thing, I believe. But our thought paths to the common conclusion are different.

My perspective is different from yours on these points. I believe:
a) PPHM does not have the cashflow to repay the loan.
b) PPHM does not have the asset coverage to repay the loan.

My perspective is similar to yours on this key point:
You wrote, "Why would anybody risk 30mm to acquire a de minimus amount of wts for "equity"??? This is absurd on its face." EXACTLY! I couldn't agree more.





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