why do we have a sudden drop?, page-21

"The hope is that Jiangsu can service the $170M"

Wake up, Salty! $130M debt at an interest rate of 7.5% means they add another 0.8M in debt EACH MONTH! Did you ever have a look at their cash flow statement? Jiangsu becoming cash flow positive relates to this project only and DOES NOT MEAN the company as a whole was cash flow positive so even IF the Jiangsu target was reached (which I can't see) the company still would continue losing money and being unable to service the debt.

Although Jiangsu has been "ramping up" for 9 months now, September's record production was a mere 56% of the nameplate figure. With a two-week shutdown during this quarter, Q4 won't get us there either. One must be seriously concerned whether the plant can achieve nameplate throughput ever.