Wouldn't you agree that Strong's in a not so "strong" position on this one? He really put all his eggs into the "ECIG turning around quickly" basket. He's really got nothing to fall back on if they fail. He takes a big loss if ECIG goes bankrupt. At this point, you have to think he's willing to give them more time and sacrifice some interest payments by pushing them out. This management team has a long list of accomplishments and progress at ECIG so there is reason to continue to have confidence in them. It's clear from the CC and recent personnel decisions they are finally prioritizing brand development/growth. They were able to land ANOTHER $9 million financing from Strong to settle the legal dispute in January 2016 so it doesn't appear that he's backing away from making ECIG work anytime soon. He's committed or else we'd have gotten a RS/AS increase proxy by now.
A successful restructure positively impacts pps IMO. I don't think the capital structure of the company is going to change to the point that a pps of sub-$.20 makes sense. I also don't think these brands are going to grow revenue significantly anytime this year so that's why I'm not "long."
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