I think investors think that this is a charity. Really EOS is a...

I think investors think that this is a charity. Really EOS is a share I used to hold - management got this to where it is. Now another of my investments is playing banker. Not something I was keen on but I am not running WHSP. One if their executives acknowledged that it was a rescue package.
Now they are seen as greedy capitalists. Well that is what they are. If you want handouts then you go to Governments or charities.
WHSP are being asked to give up a substantial portion of its security. This midlle east client will now have a call on assets.
On that basis it would be naive to think that taking up a position that grants someone else $16 million of security is only worth $40000 to $200000. That in itself suggests that management are delusional. Maybe they are the reason that this business lost so much last year.
Personally why doesn't EOS get normal financial support from bankers. WHSP are not traditional bankers.
Then maybe punters here should be realistic about what high risk high reward deals deserve. Fininacing Oil and gas proven resources seem to cost more than 10% per annum. I think WHSP should go away and play in fields they understand.