Hold ~31K BEPPA only:I doubt very much that there will be any...

Hold ~31K BEPPA only:

I doubt very much that there will be any chance of $1 in 2012 now. I have an 8.4c average so ~4.5c distribution would preserve half my original capital. I'd like that very much.

Cornerstone investor may be able to buy BEPPA on market and convert it to equity later, bringing up their stake by quite an amount. Would be akin to a full takeover in 2012.

I am hoping for the following:

Investor takes a big enough stake in BBI to cover corporate debt. Get rid of the bank sweep, hold capital raising. Investor undertakes to participate in capital raising to at least maintain holding, possible increase offered. Capital raising pays for $205M due Oct.

Once that is done, cashflow is unrestricted, we can pay off the higher interest debts, BEPPA can be paid the owed interest payments, and hopefully we haven't sold the farm down the river etc etc.