Question: Who would loan this company money? There is a $143 million+ debt, a $10 million legal challenge, and now an attempt to further enrich insiders at the expense of ordinary shareholders. The management has either pocketed or mismanaged every dime it has taken in, and piled debt to boot.
Question: Who would buy this company, or joint venture with it, for an input of more than $200 million--which is what it would take to pay the debts and cover the common at $.07 per share. Such a buyout or joint venture would amount to about $1 per share (and the proceeds would go mostly to Karlsson and Apollo.) And even at that takeover or joint venture price, the shares would only be worth what they are now.
Why wouldn't a party who wanted this land for mining just wait for Prospect to go belly up and get it cheaper out of bankruptcy?
Last question: Why take a chance with a company that is facing such severe challenges? There are other companies, including other potash companies, with at least as much upside and not nearly as many headwinds.
Just asking.
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