Kind of makes you wonder, surely they explored the option of...

Kind of makes you wonder, surely they explored the option of refinancing the debt. If they did and there was no takers then that makes me a bit worried.

I've been under the impression that the debt payback time was expected to be about 12 months or less, even adding a bit for the delays and that should still be an easy sell to financiers if it is true. Perhaps the economics aren't as good as I thought/we've been told.

On a side note there is no way they are going to raise much this time round, a lot of people myself included kicked in a lot of cash last time only to see it underwater now if they are still holding. Only have to look at the share price to see there is no confidence in the company anymore.