You're not getting it. Old debt needs to be elminated and it can't be done now because there is not enough cash to do it. Guess what. 18 months is quite a stretch!
Kenergy can be cash flow positive and make its interest payments. The principal is still there. It's really no different than you having a $5,000 loan, making $5,000 a month and paying $130 interest. How much money is left over for you? $4,870.
I would also say it's not a bad guess that it will be a while before they're cash flow positive. It's just bad to claim that the CEO is saying this when he may project positive cash flow at anytime. Really, only he knows. Which sucks. I want to know.
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