annoucenment?, page-70

"Would like to point out that the (death spiralling?) SP does not reflect the company's ability to be an ongoing concern"

That is absolutely true Dis. The collapse in the share price is because of the potentially huge dilution of ords from several different sources, namely the SPARCS bonds, the BBI Networks bonds and the prefs. Still, the overall financial situation of BBI (ie too much gearing) is not helpful all the same.

The banks do not care one iota about anyone else below them. They are soley interested in getting their money back.

Although the banks are playing hardball, it still does not appear that BBI has breached its covenants yet. So unless this happens shortly, they should continue to service the SPARCS bonds. You would expect the money leftover from the Euroports sale that is due to be paid in April should leave enough to service the bonds interest.