GMX Resources Inc (fka GMXRQ)

[56Chevy]

Let's use Blackstone Group LP as an example of what's really at stake for them.

Right now today they own 519,808 shares of common stock in GMXR.

In their portfolio of investments that ranks 29th and represents .04% of the portfolio. Their 519,808 shares X .36 = a current market value of $187,130.88. They own 11.378% of the company.

It's possible Blackrock and or GSO Capital Partners LP steps up and becomes a DIP lender but I assure you both creditors are more interested in recovering their debt investment(s) than they are the equity.

Buying restricted shares of equity last November at .48 a share was part of the deal..they were really buying 519,808 votes. For Blackrock, sacrificing $187K is like sacrificing your lunch money. This was set up before the filing.