02-13-2016, 06:30 AM
Ahhh yes, the magic of explaining away the balance sheet reality. It's debt but not really debt if you look at it this way or that. Pay no attention to the man behind the curtain. The Q3 financials have the amount on the balance sheet and it's disclosed in the notes as an amount owed to "PRE". That's a debt beyond a trade payable. Hession has said he has all kinds of plans. Fact is they have zero incoming cash from any sources and they have had cash going out, including paying off the notes last November. By the end of Q1 we should expect that they will have tapped the line based on what his own projections were for 2016 expenditures.