I stand by what I said in that post in April. If KBL can find someone to bid for the company then they will wipe out the bond debt. The issue is that they have not done so and if you ask people like BillC who is a bond holder and a shareholder, he finds the concept of forcing the bondholders into accepting shares at ~38cents abhorrent.
You will all know that Jim Wall the Chairman of KBL has some 1,800,000 of the bonds and he stands to lose quite a substantial amount if the suggestion i made in April were to come to fruition.
I can't see the board recommending a takeover offer that negatively affects the bondholders notwithstanding it will be of great benefit to the shareholders
The potential internal conflicting positions of the parties is another reason why I got out
KBL Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
