You use $1.20 to get valuation of $4.8M with $1M cash to get to...

You use $1.20 to get valuation of $4.8M with $1M cash to get to 5-6 million to get them through next 12 months.
You say recent quarterly states $1M cash but they have acrued 2 interest payments since then, both due today. In my opinion AZZ is insolvent as of today.
Why did I not ask you today if you thought AZZ had cash reserves to last the 12 month extension you were requesting. Big regret.
The only hope here is if twiggy drops a few million into a cap raise.
Is this the plan?