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if AXO is so worried about the notes why dont they do something about it?

looking at the depth on the market there is not much there, but if they really wanted they could buy whats on the market.

also, i dont see any of the management saying they will take a pay cut.

they had many chances to raise the capital they needed but they didnt. its quite frustrating watching from the sidelines because they could have raised another $100m last April/May when the price went back to $1 but they didnt.

i dont know why they are mucking around right now, if they know Hebei is interested that should be going to them and asking for $200m @$1 to get things moving.

we need to see some action, waiting around watching the cash pile fall is only tightening the noose around their neck.

they need to strike and get the cash and show the market they are not a bunch of amatures.

i havent seen any directors buying stock for a long while, maybe they should use some of their big $$$ salaries and buy some stock.

MGX & GBG sold stock well above the market price so i dont see why AXO cant do the same. My fear is that AXO ends up like WVL or OZL because management dont fight hard enough.

well im hoping they are only waiting for EPA approval before going to Hebei and getting the cash because the longer these guys drag their feet the more cash they burn through.

as for the notes, they better hurry up and do something because the next int payment is in June. if they try and restructure the notes the normal equity in AXO is going to get diluted, at current prices AXO will end up with 1b shares on issue if the note holders agree to a 1:9 exchange.

the only way to solve this is for them to buy back the notes. if they were smart they would make an offer to all note holders to buy back the notes for $0.25 in cash, that would cost them $13m but they would then get the notes out of the way.

it still shows that investors should be buying the notes not the ordinary shares.

could you imagine in Hebei made an offer to all note holders at $0.50?

then the management of AXO would be craping bricks, that would give Hebei control of the company on the cheap. These chinese arent very smart.