Sorry to be pedantic HT but you are wrong. QIN has until 30th Aug to make the interest payment or recieve a waiver to prevent "an event of default". And like any company with liquidity issues where monies flow in and out QIN is simply managing their finances. The debt only has to be serviced till 2023 and then paid or refinaced. Fair enough the put option most likely will get exercised December but a lot can happen in 4 1/2 month till it becomes payable. I guess they could drag that payment out as well. Lets both agree that the management has proved very average and poor at managing costs. No doubt that will change and 250 mil would be way more than enough to last a fee year even without a dime of revenue but with better management of those funds. It's whether they get an adequate amount to have time to resolve their issues, open up sufficient supply chains and have time for Santalis to complete at least 1 stage 3 and 1 stage 2 trial. If that happens the value of that pharma coy could pay the bond debt and some.
IMO
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