you guys are mad.They have burnt another $40million in 6 months,...

you guys are mad.

They have burnt another $40million in 6 months, ok, maybe some of that may be non-recurring expenses.   So the recurring burn rate may be closer to 30mil to 35mil in the next 6 months.

All while overseeing a reduction in FEAUM of over 10%.

Plus they don't technically have a 50mill loan, they have a 97 mill loan because 10% of the interest is capitalized each year, so the actual repayment amount (even if repaid early) is 97 mill.

Now if you actually read the update correctly, they still haven't been able to bring their recurring operating costs under their recurring management fees - hence the "strong progress".

So looking into the crystal ball - The burn rate is continuing to destroy the cash in the bank and they will require substantially more cash in 6 months time because Oaktree have working capital provisions in the contract clauses.

Good luck people...