DG sticks to the letter of ECOS filings DS which has him thinking this won't pop. My belief, as you stated, is that people will see the light at the end of the tunnel on ECOS. Tomorrow will tell the story. To DGs point there is some voodoo accounting going on yet it still has ECOS with 8 million less in debt and a balance sheet with 500k vs $600. That coupled with ECOS needing only Q3 to be current seems like this should run. Go ECOS!!
I still think there is either an issue with the digester or they are playing securities roulette (which sends people to bad places).
I don’t think GS is in LRS to do anything with ECOS. It is something much larger. It is likely a play to buy another waste company. My guess is GS invested in preferred or senior debt of LRS with a 3 year or less investment horizon.
I don’t see a pop beyond 2 until the converts go away. I actually thought about seeing if Fife would sell some or all Of his debt to me. I think an ECOS debt play is a higher return in the next twelve to 18 months. Default debt has much more leverage right now In default they can demand lots of things in exchange for forbearance
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