Agreed on almost all points byrddog.
Especially so since IF the POR is dead, and we work under a new DS and POR at least marginally directed by equity, and with the goal of coming out as a viable holding company of some kind - many of the groundrules we have been living under change.
The biggest one (To my mind anyway) is that - IF the company is going to exist as a viable, continuing entity capible of generating revenue, and with NOLS enabling 'us' to hold onto more of that revenue - Why should the bondholders be paid and liquidated at full face value 'now'?
If the terms of those Bonds give us years to pay them, and if the interest can be paid on them 'now' to get them current, then WE get to hold onto the cash value 'now' that underwrites those bonds and use that cash to increase the potential value of the resulting emerged company.
I'm no lawyer. I'm no high-end businessman. But I often have a touch of common sense and logic.
We just have to get back in charge of running this show first. Settlement may happen first IF we look like that's what we are heading towards as a viable business concern - but we'll see soon enough I suppose.
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