do not follow BIGT Pinnacle Holdings Inc. so I am sure you have more knowledge on the company here are my thoughts of what I found in a few minutes.
Pinnacle Holdings BIGT
52 wk high $12.68 52 wk low .21 currently .55
lost over $9 dollars this year mostly in writeoffs, had an operating loss this year though and next year should lose around $1.50-$1.80 a share.
they are deeply in debt, they do not have enough money from their operations to pay their oustanding debts. they have extended most of the dates of when the loans will be due, to Feb 6, 2002. for this consideration they will pay higher rates on the debt, and they cannot spend any money on Capital expenditures without the company lenders consent.
they doubt that they can raise more money so will have to sell properties to pay down the debt, the lenders must give their approval of any sale. sounds like the bond (note) holders are calling the shots.
do not know wether they will survive, a lot depends on how much they get for the properties and wether it will be a fire sale.
up in the last month, so maybe a trade, but the company has a lot of problems. does not seem like a turn around but I could be wrong, have limited information.
thanks
selkirk
