How do you know that James Brown is honest or dishonest ?
Unless you know him personally, then you have no idea.
I didn't mention him being either.
No they are not bankrupt, but they are hanging on by their finger nails.
That $50 million reserve is not their money, it is there for emergencies,
Use it and there is more interest that will need to be paid.
Fifty million dollars with the interest rate at 15% is a flat payment of $7,500,000 required in payments
And that is on top of their "refinanced borrowings" OF $350 million at 15% interest.
Which, again at 15% interest, is a flat repayment of $52,500,000 per year.
That's an "easy payment" of SIXTY MILLION dollars per year, every year for ever, as it does not include
principal payments.
All that is after overhead costs of running the plant, wages etc.
Get the picture !!!
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