why do we have a sudden drop?, page-20

The hope is that Jiangsu can service the $170M debt until a favourable deal is done with SdV - they estimate SdV will take 48 months to complete. Then we'd have a lot of revenue from both operations to pay down the debt. The dissapointing thing has been the very slow ramp up at Jiangsu. We are nowhere near nameplate. The latest guidance has been that Jiangsu will be cash flow positive in this last quarter. Next Tuesday will be interesting with the bondholders, I'm sure management have been talking to them behind closed doors. I agree we are in a lot of debt - but there's hope yet. I am surprised no vultures have made an offer - it would be very cheap for a buyer and the assets are worth a lot more than the market cap even deducting the debt.