Ann: Appointment of receivers and managers, page-321

The BOD need to put forward a DOCA that includes a CR as part of it to the VA. That needs to be put to a vote to the creditors for approval.

If a Knight in shining armour were to come along and offer the $40-60m they will likely want equity in exchange for it. Will likely be very dilutive for existing holder. As the company is in VA it would likely need to be as a DOCA.

AMHO.

Its a very complicated situation due to existing stakeholders and secured creditors.

Good luck to all holders.