Originally Posted by
Noisecanceller
You don’t burn down to zero. A bankruptcy (restructuring or liquidation) filing would come before that. Ted said in the last town hall the expect news on the debt due 2025 and 2026 this summer. My guess is if no renegotiation on that by September a bankruptcy filing will be right after
This is actually an accurate observation. You can't burn to zero. Under chapter 11 reorginization, you have to have some kind of assets to keep operating. If you've burned to zero (cash & short term instruments), and have no assets to operate, then it's chapter 7.