Bowerboy, thanks for the summary. However, the fats are a little...

Bowerboy, thanks for the summary. However, the fats are a little different. The facility according to their last annual report is a March to March facility. That means that 'probably' 60 days before they have the right to ask for an extension and then GSJBW has a certain amount of time to say yea/nay. If it is nay then the facility 'expires' in March and they have 90 days to refi or be in default and 'bad things' happen when the lawyers get to work.

I am not sure about the +/- stuff. They are a great company but in a cr@p position with the POC etc. I agree with whomever said that GSJBW will most likely rollover but with some equity strings. Remember that the first round of the facility was granted with a large number of options that probably looked like a sure thing. Their credit committee won't be so stupid this time to get duped by the bankers when they put in the extension proposal. They have lost big time on this one already. Bankers right now are more likely to cut and run to conserve capital no matter how dumb that looks to you and me.

That said, I think that the rollover is a done deal (I am sure GXB agrees!) and the pump and dump strategy will come off nicely, even if that wasnt. the intention.

Now for announcement......(drum roll please)......