I agree with Quackie1 the company must make a profit.The real question is can the company make a profit with/without the finance cost of $12.7 million and the net bank debt of $123 million.So it doesn't matter which way you convert it will need to be profitable with/without $12.7 million less finance cost.If it can not make a profit less the finance costs $12.7 million we are wasting our time?
