what we don't know can still beat us, page-2

What we don't know is how BBI are going to deal with SPARCS which is now on our door step.

Yes I know that everything will be done to prevent dilution, but as said before, if there is no CASH (due to sweep etc) then there are only two other options available to the issuer - issue of BBI and dilution, or new SPARCS agreement.

What do you thinks the Banks will want ?
1. $70M in cash to repay debt and hence diluting BBI
shares,
OR
2. $0 in cash and allow BBI to pay out 1/2 SPARCS

Easy answer = 1 as care factor for shareholders = 0, look at BNB noteholders.

It's still all about corporate greed, and the Banks will try and recover all toxic debt from where ever they can, even if it means bleeding from those companies that do not have the toxic debt and are meeting their interest payments.

BBI require an asset sale asap, and this is also information we do not know - At what stage are the asset sales ?

Another thing we do not know is BNB and the outcome of the management fees, and if BNB is forced into liquidation the Creditors (mainly banks ?) will end up being 10-12% BBI shareholders - just another variable for the equation !

For now we will just have to hold on on just like those little sucker fish tagging a big whale, and hope we get some clarity on the issues before the whale beachs itself.