AgFeed Industries Inc. (fka FEEDQ)

[finbar99]

>>The glaring admission that this is sitting negative 20 million right now is something that can't be overlooked.

The 20 mm delta is between the current stalking horse for less than all the assets and the claims hurdle...if China is worth more than 20 million (and the US assets not included in the sale), and/or there is a robust auction - that's a much smaller hurdle than I've seen in other successful bankruptcies.

>>They are looking for a job since work is slow

No doubt they would like to land the gig. I didn't hear them asking for funds to file the objection to auction procedures. What I heard them say is that they might require seed money if the EC request has to go to a full blown hearing - but they aren't asking anyone to sign on the dotted line to be on the hook for those yet.

Their point that the other constituencies have counsel at the table, and that they have priorities very different from those of equity are quite valid - and that's the reason that equity should have counsel - especially this short marketing runway for the US assets - there is hardly time under the proposed schedule for anyone interested in bidding to arrange financing and qualify.