Guys,
IMO, Pinetree is not going bankrupt. They are not insolvent. They have a large asset base that still has value way above their debts. The problem is that they have no cash to service that debt and the value of their assets has gone down to a point that the creditors are not happy. So the only way to reduce their debt and generate cash is to liquidate their assets to a point. Our problem is that the only asset of value is their POET holdings, so they keep selling to keep the lights on in their office and their creditors at bay. Untimately, as FJ pointed out, they have done a significant amount of pay down but even if they liquidated to pay of the remaining $15M of debentures, they would still have significant POET holdings and warrants. My thinking is that we are not getting rid of PNP any time soon, or ever. The best we can hope for is that they make their creditors happy (because I beleive they are actually selling as little as possible, hoping for news) to stop the dumping.
