It just gets worse and worse. It appears management were caught by surprise by the requirement to roll their facility, a complete failure of basic obligations. When WHSP was extending the facility by days they were obviously squeezing this negotiation. I doubt EOS had other options as it was all too late. WHSP will probably force a sale to recover their investment.
Nevermind Land400 delays, BG told the market in late 2021 that discussions for a $1bn contract were well advanced and going well, and that Spacelink funding would be finalised. Neither happened and meanwhile WC facilities were allowed to expire placing the company at the mercy of debt holders. Often a good product can allow for second and third chances, but sometimes management can be so bad that the blow up happens anyway.
ARE THEY SERIOUS???, page-2
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