They could issue say 700 or 800 million shares to come up with some cash to at least stem the tide. Get their credibility back and pay some vendors for crying out loud. If necessary, they could do it again later if needed. What are they waiting for ??????
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Story came out across Bloomberg today that MDR is negotiating a new loan to get through bankruptcy. Stock dropped by about 50% today. People didn't like my first post, but what can I say. How can you think you can do a private placement of shares when nobody is buying our current shares, and bankruptcy is knocking?
I can answer this one - can’t do this because nobody will buy the shares. Can’t raise money unless someone is willing to buy the shares.
Do you mean like the $300,000,000 in preferred stock issued last year?
I like the idea of a private placement. The only problem I see is that DD and his cronies could easily siphon off 40 or 50 mill for their own retention bonuses, which is something I and many other employees as well as shareholders would NOT like to see.
For these reasons, i am decidedly AGAINST a private placement. I say let's borrow on the up and up and claw our way back to being a going concern instead of on the brink. I think we can do it with some good old fashioned hard work and dedication.