"The cash flow projections are enough to pay off the current debt load in the event that Payless is able to secure non-toxic financing to cover its working capital deficit."
I mean they are still running operating losses and only reason they have any cash is because they keep getting "financing". I don't see anyway in the near future they can generate enough money to dent the 3 million sitting on their books. Refinancing at 20% is outrageous but I doubt they can even get that rate given how risky of an investment that would be for whomever is offering that.
The real question is where is all the money from the APIC?
News 
Market Data 
Discover 
AI
