Takeover?, page-7

Soarer you forgot about the $61.5 million in bonds due in around 2 months.

Then again, as to the suggestion about a possible takeover, management probably were so desperate to gift themselves so many shares (completely undeserved, of course) for a reason you'd think. And if you had inside knowledge about the likely outcome of the bond renegotiations you could make a packet. But then again, the bondholders could simply play hardball, and try to gobble up as much of the company themselves.

This really is a company where the jackals are scrambling over the carcass, and where those without inside info need to tread very carefully, as bankruptcy is still a very real possibility.