what does it mean?, page-27

Well its a good enough reason if Blackwater become the sole secured creditor.

The way that I see it is that we still arent in VA and while this is the busiest quarter for a toy company, the payment terms for their products will be such that some of the cash wont come in until the new year.

So they are still operational despite all these headwinds.

So there is plenty of hope yet IMO

Of course I would rather them not be in this position but that cant be changed now.