On paper, Windstream had a July operating loss over 400 million. 373 million was a write down of the value of assets on the books. If you back that out as a one-time hit, then subtract out legal fees, etc, Windstream still had a July operating loss of 10-20 million on its normal business operations.
http://www.kccllc.net/windstream/document/1922312190815000000000009
"When is the ship going to sink ????????????????????????????????????"
Not soon enough.
When is the ship going to sink ????????????????????????????????????
First in line to get nothing is still nothing. Remember what assets this place has, and who owns those assets...
”This is whats happening the fool here is the DIP financier.”
Not really. The DIP loan is first in line before all the other creditors, so they’ll get their money back.
The DIP loan’s “super priority “ was agreed to by the creditors and approved by the judge.
You can keep any business running and make out like a bandit if you have some fool to loan you money. This is whats happening the fool here is the DIP financier.
Can someone explain how we survive post bankruptcy by operating at a $10-20 Million loss every month? It only makes sense to End of Life Networks, customers, products, or sell off assets for cash.
Sounds like more creative accounting brought to you by our CEO. I should have went to school to get my MBA instead of an engineering degree.