Bondholders will want to call in their bonds now to get out with as much money as they can. The way the company is heading with the inexplicable lack of sales, demonstrated appaling lapses of corporate governance and poor management, a radically changed business plan from what they originally invested in... the true total sales in the almost 2 years that they have had the bonds is counted in the low $hundred thousands even IF we beleive the management about sales other than the SA debacle - and that into a market valued by the management at some $45mil which they have had all necesary approvals and production capacity to supply for at least the last 18 months. And no new sales for 7 months.
Do you really think the bondholders will stay on the sidelines watching their cash deplete month after month with still no new sales, or get out now with $20mil cash PLUS the $10mil interest they have got since the deal started PLUS whatever they can get for the assets (maybe another $10mil).
I know what I would be doing.
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