Really? And how do you explain that total liabilities were $50 million lower by the end of 2012? they have not acquired $50 million more debt. That number has nothing to do with the face value (real value) of the debt which they renegotiated and lowered in November last year to $35 million. That number as you very well know has ALL to do with the share price fluctuations and the "financially engineered bifurcated and screwed" debt instruments. It does not reflect the real debt.