Please someone provide me with a reason to vote yes
For starters, your statement,I would prefer Chapter 11 as a means to buy some time, indicates you neither understand GTC's predicament nor Chapter 11. GTC's problem is they are out of money,,as out money to pay their employees, the electric bill, the goatfeed bill, witholding tax, and GE's loan,etc.etc.
Chapter 11 (it aint what it use to be) might hold creditors off, but it wont provide the money to pay the bills necessary to keep the operation going.
Someone sugested they might just shut the joint down and all go on vacation till the FDA gives them the thumbs up. Sorry, the employees will leave and the FDA will not be favorably impressed by the discontinued operation. Raist is correct it will be a liquidation or a fire sale of the company, and anybody who thinks they will be getting a dollar forty a share under those circumstances is probably smoking some particularly powerful form of that weed which has been recently legalised in our fair commonwealth.
Six or seven months gives us some time to come to grips with the financial situation, even if that means getting a better deal than LFB is offering, There is a redemption possibility. Some people on this site thought before this deal was announced that financial support was most likely to come from one or more of GTC's partners. Well that is what has happened. The terms may be more severe than we hoped for, but realistically a company is not going to just give GTC the money without assurances to its own principals. It is not LFB's fault the PPS was down to thirty one cents. IMHO our best hope is clearly to vote for the LFB deal
":>) JL
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