Ann: Corporate Presentation, page-25

Just game theory @mowibble ... it's what people do when their back is against the wall - a Devil's Choice. Performed by bankers, insolvency specialists and venture capitalists since time immemorial. Remember the CEO reckons he's a VC man so get ready!!

Do you honestly think incoming equity will give you a free kick or are you really that naive?! When people are headed for failure, people preserve their value. Like ex lovers in the divorce court. Certainly would never be the first choice, but they are where they are with what I think are few realistic options because of people like you. You keep justifying your investment and getting upset when hearing someone tell you that the King has no clothes. Perhaps also change your HC handle to the Black Knight off Monty Python.

If you really want to support this company, maybe the smartest thing you could do is go buy the rest of the Con notes. You'll get a coupon and some upside if you are right. And if I am right, you'll stand alongside management and maybe do handsomely in a debt for equity swap to the chagrin of all other equity holders. But will be painful.

All my opinion of course ...