Reuters reporting plan for debt restructuring talks taking place

Quote

anonymous

Guest
Reports that internal talks taking place to propose to credit holders a restructuring plan that included,

* issuing more common shares to generate needed cash.

* Once cash raised, to payoff portion of debt.

* refinance at lower interest rate the reduced debt balance at lower interest rate.

Great news for employees. Short term very bad for stock price (dilution of shares), but long term could result in 2017 the sale of company.
 






My apologizes on the above, needed also to add Reuters source stating "debt for equity" swap is also being considered. Where creditors are issued shares of stock in exchange for reduce debt.

So if Reuters source is correct, looks like Pernix has two solid choices to present to creditors to save the company.
 






LMAO as the Stock twit folks got to be crapping in their pants if the above is true. Will total dilute the stock price in half. Serves them right for invading a reps board.
 












Top Bottom
Back
Quote