High volume and low price, page-60

the market is "putting a gun" to the heads of FAR management:

viz:

mr market can count - and recognises that the entity is short 120-150m.
the company can:
sell some of its stake in the underlying asset (and reduce the amt the 3 banks have pledged.......) - THIS DOESNT SOLVE THE PROBLEM
raise subordinated debt - which will be problematic / expensive in the "shut" corp debt markets
issue some form of convertible security - which would MAGNIFY THE FINANCIAL RISK to ordinary shareholders
raise ordinary equity

or put the company up for sale.......

I vote for the last option........management may have other ideas.......

stock is now "cheap enough" from an asset perspective that its probably a Spec Buy........(financial risk withstanding)

if there is some sort of c/note issue (depending upon terms) - it would be "run, not walk......."

rgds
V_H