You read what your want to read! Read the whole passage!
I quote: "Now, typically for a company in VLNC's financial straits, "shipments are imminent" would not be a panacea (like crude in the ground was not for Arakis), but once they ship $4 MM (by hook or by crook), few "standby" financial resources become available, including another $7.5 MM from Baccharat Electronics and $39 MM from IDB (over a period ending Oct 2001). This IDB money is not funny, it is real good money, it is grant money (if VLNC keeps certain employment levels in Ireland for 4 years after the end of the grant period, otherwise it becomes debt to the US company). I believe this is one of the reasons the stock is holding well and ******* one of the reasons the floorless bandits agreed to change the terms on the first tranche of $7.5 preferred to non floorless.********
All these "warnings" Razor, are just to let you know that unless you hold a chunk of that preferred yourself, shorting this puppy is not riskless. the likelihood of one materializing before July 27th (the next floorless deadline) is diminishing.
Note the part in *****'s.
You are wrong, and probably short. Listen to what Zeev says, shorts are doomed if only a petty $4M contract is announced. The Prez has stated that he could get that "As a favor" |
