Dave, all the dominoes will fall in the next few months.
RK's been straight-arming and postponing debt for years. The underlying problem is cash starvation, and the things you point out are symptoms.
Cash starvation itself is a symptom: a symptom of the inability to obtain cost-effective (conventional) financing.
Remember this?
"Dimethaid will receive gross proceeds of $3,918,750 from the over allotment provision, bringing total gross proceeds from the offering to $30,043,750. After the settlement of the offering, expected to take place on February 25, 1997, and including the issuance of these new shares, Dimethaid will have approximately 35.1 million Common Shares outstanding."
www2.cdn-news.com
Conventional financing. Gone, never to return.
Surprising, that no one ever asks: WHY?
Jim |
