Ann: New Senior Debt Facility and Market Update , page-6

re: Ann: New Senior Debt Facility and Market ... He is secured so it is not risk money to anywhere near the extent of equity holders. So could be called low conviction.

IMO FFF overpaid for a number of their purchases in the past when trying to build a business. Problem was they put togeher an ugly patchwork quilt that had no real brand and no competitive advantage. My own thoights of course however i posted similar some years back.

Result was the logical outcome of equity being destroyed.

Now the debt overhang and equity raising overhang will remain with it hard to see a short term finamcial catalyst for improved sp.