Anyone have a Bloomberg terminal want to tell us who is in those bonds now?
The bond are in default, so I don't believe they trade normally.
There was a large block that traded in June at 37 cents on the dollar.
It was the largest trade in nearly 2 years.
The last trade I see is on 12/3 of 1,425 bonds at $67. A couple of trades a month in the thousands of shares all over the place, but that's peanuts.
They file financial statements -- in the quarter ending June 30, they had $6.2mm in revenues, $1.8mm of operating expenses and $9.5mm of "other expenses". $2mm of leasehold improvement amortization, about $5mm in interest, $1mm in rent and $1.5mm of PILOT.
Quarterly loss: $5mm
Cumulative losses: $118mm
There was an annual Financial statement filed in May, for which the auditors issued an adverse opinion, believing that the statements do not fairly present the financial position of the entity.
They believe the entity carries long-lived assets on their balance sheet that are worthless and should be written down to zero. They raised some uncertainty that the every should be considered a going concern.
If you're not financially fluent, the TL: DR is that it's all very bad.
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