G1000, the terms of the coupon are bi-annual 1st Aug/thereafter but if not paid by this date will be in default within 30 days, right?
If I were running a business with cash flow issues I certainly wouldn't be paying my bills when they fell due but try to drag it out as long as possible. Its called cash flow management.
Number 1 prioroty in the short term is keeping the business afloat and therefore paying what is crucial to exist i.e. wages etc.
What also must be considered is the current new caveat of 18mil agg cash balance, yes stipulated by BR. As they're in total control no doubt will get whatever cash in the bank if VA occurs, 18 Mil would cover the interest and some.
It makes perfect sense for QIN to not make the coupon payment tomorrow. The only important thing in that regard is that they make payment within 30 days and a lot can happen in 30 days.
Always IMO
QIN Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
