New Edison Report..., page-10

I disagree with your analysis . Specs don't go broke with $500 million of debt - because they never get into that position cause no one will lend them that . Specs go into liquidation because they have no money . Specs survive on hope as they usually have little to liquidate. This is why information to the market is so important. no income & only liabilities. So far they have put forward a very professional proposal - but no financing or product sales agreement would make obtaining finance that much more difficult . At this stage it is all hope with little that is concrete .