Can somebody explain to me why this company would exchange bonds for 241,000,000 shares yesterday? Is there something I’m missing?
6 replies (most recent on top)
Maybe that why i'm confused. Were there two bond exchanges or just one?
SEC filings are available for your perusal.
I understand what the exchange does. I don't understand why we haven't seen a sec filing for one. Also what exactly did management show then that was so convincing. Bond holders get paid in bankruptcy first so the exchange seems promising just mysterious.
Short answer: A stake in the company in exchange for debt.
Wow you guys really don't have a clue, do you? Maybe do a little research before posting such questions?
Its a second transaction like that in the last few weeks. I also would like to know what is happening. Nobody says anything.