More DIP financing
If they need more DIP financing, I would take that as a sign that they are really losing money, otherwise why would they need more cash? How come they can't at least 'stay even' with their cash even after not having to pay interest on the debt while the Chapter 11 is in place?
The other problem is that if operations are not generating any cash, what are the assets really worth? If cash flow per year is zero or minimal, why would anyone pay up for an asset like that.
As an example, if interest rates are 10%, and an asset generates $1 million per year in profit each year, people should be willing to pay as much as $10 million for it ( 1/.1 = 10 ).
But if the same asset generates zero, it is of no use to anyone.
Louis J. Desy Jr.
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