NoomxxDo you realise that the calculation of NTA already allows...

Noomxx

Do you realise that the calculation of NTA already allows for the full payment of debt?

The total assets of the company at June 30 were $1.733m and the total tangible assets were $1.525m. The total debt, as you said, was just under $600,000 so the tangible assets are more than 2.5 times the debt.

I know everyone has pointed out that the company would not be able to sell rigs at current valuations but those figures still suggest to me that BLY has reasonable coverage of its debt.

GPASAS