They don’t have as much as you think. They have 56 Mill of step up convertible notes including accrued interest and with every year that passes the coupon on the notes increase by 200 basis points. Time they paid it off.
Then there’s the legal costs which they will need to pay, which including the latest increase in provision is another 16 Mill gone.
When you add the 2, that 72 Mill that will evaporate. The 112 Mill will be back down to 40 M just like that.
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