Written by Omega_Wolf at SI. I strongly suggest you read his whole post over there.

Cutting down to his conclusion, here is the tax credit synopsis, note his suggestion which I have highlighted for emphasis. All words within the quote signs are from Omega_Wolf. However to please the SH censors, I edited one word that SH considered profane.


"Helpfully, there is the last piece you need. The total RITC's will be 30.5M and the RITC's received by December 31 were 19.9M (above). That leaves $6.9M in RITC's in process 12/31/12 (62.7M x 40% - 19.9M). And when those are processed and cashed there will be 26.8M cash collateralizing a 25M total obligation.


The debentures get listed. They trade at a discount. Orbite is sitting with almost the amount of cash the debentures were issued for in the first place and they cost 8%. What are the terms of use of that segregated account? 

If I raise different money now I don't buy the calcinator. I buy the debentures at a discount and retire them. 

And if I'm not a moron I have that 'in kind' limit clause and I have access to debenture retirement from the segregated account and I wonder how many can figure out what I do now? You're going to pi__ them off say the children. Idiots. The conversion point is dead money so it's 8% for the risk. You let them know they're going to be offered a sweet deal on SGA and there might be a retirement premium but it would have to be compared to the open market debenture discount to be valued. And that gets measured tomorrow."

Any thoughts from SH readers on the idea of just paying off the debentures with "different" money now? Any thoughts on what the cost to get the money would be and how much would existing shareholders be diluted, if any?