trying to find something positive, page-6

Having too much debt but more time is better than nothing. I agree, but only if those are my only choices. As I already said, I would favor the Bumblebee proposal over cornerstone because I doubt the intentions of the cornerstone investor, but not because I think the Bumblebee proposal solves any real problems.

The reason I like my proposal is that it blends the best elements of both proposals: it relieves the debt, while making sure the new investor cannot gut the BBI shell of assets.

The best solution is one that removes the debt, but doesn't give up control. What's wrong with too much debt is we cannot pay it off. The only way out of this wormhole BBI is in is to develop a debt structure that *can be paid off eventually*. What we have today is NOT that. Too many people are in denial of this simple fact. All of these proposals that delay the inevitable reckoning with this simple fact simply prolong everyone's agony and fix no problem for any stakeholder.

At the end of the day, BBI has to get to a point where its operating cash flows (now degraded) can pays its interest comfortably, AND ALLOW FURTHER AGGRESSIVE REPAYMENT OF DEBT PRINCIPAL. Nothing short of that is going to fix what is broken here and result in a right-sized and properly functioning entity within the next two years. The sooner we get onto that train track the sooner we get a company that works again.

Yes, resolving debt means diluting BBI with hybrids. How many dozens of posts here have for months now been doing the math for people trying to show them what happens to BBI common when BEPPA dilutes? People have to be responsible to their own decisions, but anyone hanging onto to BBI shares praying for a non-dilutive solution to BBI's problems is just living dangerously. Hope is fine, but that to me is gambling not investing. I don't get it why people want to insist on the existing BBI common as the right strategy for the investment, but it's obviously not an analytical approach and probably there is no sense is trying to bridge the analytical world with the intuitive. Ultimately each side will have different concerns.

BEPPA in the structure I propose comes out at 20 cents or higher on day one, and anyone buying BEPPA at today's price makes a killing. And at the end of the day in my proposal you get a company that can function correctly and start paying back debt interest and as the debt shrinks over time, the value of the common equity grows.

I doubt that either of the proposals on the table today works out to BBI common or hybrid's long term interests.