All Aboard, I'm sure the Board had at least a ver
Post# of 30028
Posted On: 10/02/2016 4:48:48 PM
Re: All Aboard #24012
All Aboard,
I'm sure the Board had at least a verbal agreement with the note holders before voting on the .05 floor and the "consents" would have been or should have been a formality. Otherwise, the Board could have voted the floor to be a dollar if they wanted- it would have been meaningless. I'm sure they had a deal worked out before and the vote was just to make it official. As far as where we stand today though is another question. No 10-Q yet, no proxy. There are a lot of moving parts to this puzzle and maybe still on-going negotiations. Fred said there were "extraneous items outside of Gerald's control" so who knows.
I'm sure the Board had at least a verbal agreement with the note holders before voting on the .05 floor and the "consents" would have been or should have been a formality. Otherwise, the Board could have voted the floor to be a dollar if they wanted- it would have been meaningless. I'm sure they had a deal worked out before and the vote was just to make it official. As far as where we stand today though is another question. No 10-Q yet, no proxy. There are a lot of moving parts to this puzzle and maybe still on-going negotiations. Fred said there were "extraneous items outside of Gerald's control" so who knows.
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