Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications

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Message: Pine Tree Pin Heads!

They effectively have a margin call - they are offside on covenants on their covertible debenture. They do have some control over the timing of selling but it is limited. FJ posted a great analysis of their portfolio at year end. What will be very interesting to see is what they show in the Q1 numbers (which are probably due 60 days after quarter end, which means end of May - just before they are promising a pay down). My guess is that the numbers do not look good and that is why they accelerated the second payment.

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