I agree, very expensive debt (terms & rate like a payday loan) which has now created a bigger problem as it was bundled with a purchase deal & now both off & coupled with a court date. Whilst trust & confidence was quite low from shareholders at this time, a capital raising with clear plan would have put the company in much better shape & they could have also used some of their operating cashflow to further reduce debt. All IMO.
PNC Price at posting:
22.5¢ Sentiment: None Disclosure: Held
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