1. All of the convertible debt is about to be refinanced. Toxic debt about to be completely eliminated. No more conversions. Proxy vote just came out and there is no proposal to increase a/s.
2. $15M of debt is financing lease obligation. That is basically an obligation to pay rent at certain facilities spread out over about 15 years. Very long term and amortized very slowly.
3. The company’s business video is leveraged buyouts. Acquisition debt can be serviced by each subsidiary to which it relates. All 5 operating subsidiaries are net profitable.
4. The YTD loss is nothing but a non-cash charge related to mark to market derivatives. GAAP accounting bullshit which has no impact on cash flow or the ability to run their business. And that’s going away completely with the convertible refi.
You're forgetting the value of their assets.. Not only that, but what they could sell each business for. They would also get rid of their lease obligation for that particular business when they sold it.
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