What violation has FLES committed that would cause the SEC to advise against a R/S?
And with their long history of debt and consistently adding new debt, what would be the reason for them wanting to cancel the R/S?
Especially in light of the fact that they consistently loose money in their operation.
Their losses are terrible, they have been adding new debt and their PPS is pretty much in the dumper. How else are they going to continue to get more debt financing, unless they get the PPS up to a higher level. The debt guys will, if not already, demand that the PPS is much higher for them to sell into. AND THEY CAN'T DO WITHOUT IT.
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