$100m is not peanuts when you have a debt to equity ratio of...

$100m is not peanuts when you have a debt to equity ratio of 200% and a market cap of only $40m.
I know the truth is hard to swallow but if you look at the current fundamentals of this company, the Sino offer can be considered generous already. Unless of course management is whipping up some miraculous turnaround or something that will give it enough money to pay $5m of quarterly interest and give more assurance that it will continue on a going concern basis.