Debt ManagementThe convertible debentures ($140M due September 2024) are falling due within five months, with a high leverage ratio at 4.97x, posing considerable risk.
Financial PerformanceForecasts for future financial performance have been revised downwards in light of recent developments.
Stock ValuationTarget price cut to $1.00 from $2.00 and downgrade to HOLD due to significant balance sheet risk and low visibility on the production and distribution front.