As far as I can understand, the biggest risk BBI had was the...

As far as I can understand, the biggest risk BBI had was the BEPPA conversion triggered not because of inability to repayment but for ER changing. That doesn’t mean that other bonds are out of risk, however BBI seems to maintain a positive cash flow and enough cash reserve to face the short coming debt repayments. I’m not convinced that the sp might be between $1 and $1.30, at least not ATM but I deeply believe that 11.5c is CHEAP. I’ve been trying to figure out the NTA but I’m not sure about the impairments BBI is planning to report and my equation Risk/Reward is still very positive even when I’m not sure about NTA.