the silence is deafening

I cannot believe still no statement from the company (read its management). They are obviously happy to keep fiddling while Rome burns.

Surely they must realise that as a Board they are now at risk. The market, or at least a large part of it, is trading based on the view that certain debt covenants are close to being breached. This is either true or it is not but either way right now the market is uninformed.

If it is untrue the rumors need to be put to bed or they risk a class action from those who have panicked out. If it is true then there would be a class action from those who purchased the stock. All staying silent does is ensure you have a problem. Not to mention the obligation to notify shareholders of the Boards view of the value of the assets of the company if the share price has seriously uncoupled from the underlying value of the shares.