No, I don't think they have perfect information per se, nor secret meetings to target your christmas. But any of us could have looked at PNP's last balance sheet and the payments made on the debt and concluded quite reasonably that there was strong probability that more cash needed to be raised before the most recent payment. Although they said they would pay out of "cash on hand" they never said when the cash would be "on hand" because it sure wasn't there at quarter end March to make the last payments although they were also charactersied as being paid from cash "on hand" - and whether it was there at the end of June may be anyone's guess but my guess is that when they publish their financials, there will not have been enough cash to meet the payment on July 13th.
Don't forget that these debentures are due May 31 2016 and even after this payment there is about 25 million outstanding. They may well hope that PTK will bail them out, but hope isn't a great long term business strategy.
