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Strategies & Market Trends : Turnarund Investing

NOVS 0.0666

-16.0%

Aug 1 5:00 PM EST

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To: batman10023 who wrote (467)	5/19/2012 1:40:00 PM
From: Good Fundamentals	2 Recommendations of 1876

Present bond interest for the Senior Debt appears to be calculated like it will in 2016 - only now the 1% is being paid from cash and the rest is being accreted to debt - please note that the value of this debt on the balance sheet is not listed as $85.9M yet. From page 10 of the 10Q for 1Q 2012: For accounting purposes the Debt Exchange transactions were considered a modification of a debt instrument as opposed to an extinguishment and new debt. Therefore, the principal amount of the debt will be accreted up to the new principal balance of $85.9 million using the effective interest method from the balance of $80.2 million and $79.7 million as of March 31, 2012 and December 31, 2011, respectively.

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