Well after reading through the slide presentation, a few things stick out.
They are estimating -$32M in EBITDA for Q4. This implies it will not be a positive cash flow period. Also, when mentioning JP Morgan and Evercore are handling the liquidity issues, they stated that they hope to have something finalized by March 1.
This begs the question as to what they are intending to do for the Feb `09 maturities?
One would assume that 2009 Q1 will also be a net negative to the cash balance. Somewhere lost in the presentation is if the company is planning on using its cash reserves to retire the Feb debt.
Overall, I am pleased with the slideshow. It's nice to know we are still on track to hit our year end estimates. I do like how they slipped in the year end 1.77% churn rate estimate (I believe it was 1.7% previously). I'm sure the analysts will jump all over that number trend (even though it amounts to only an additional 10k or so subs...a mere pittence when compared to cost savings)
I sure wish I was there at the meeting, if anyone has any logical insight I would love to discuss!