I agree with your concern, but not to the same extent.
Gary has issued notes that are 'potentially' toxic... but that does not mean they are right now. As long as we pay the debt down, we're fine. I don't think he is out and out lying, just being optimistic.
If they issue new notes to cover the old, and the new notes are less toxic than the old, it's reasonable.
I do agree, though, that he shouldn't say that at all. Easy enough to say "we're working to pay down and renegotiate debt, and are seeing much more favorable terms than 1-2 years ago". Same stuff, but no disappointment.
Hopefully he takes this approach going forward
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