If you're out of cash and can't raise any your outside vendors cut you off. If you can't get parts DMI's start to expire and planes go AOG and don't move. Chapter 11 may help with the $37.8 million but not your opperating expenses, if you can't pay those you can' continue to operate. I think the final implosion will happen very quickly and sooner than you might think. My bet is they won't make it until June, file ch. 11 to forestall the June 16 payment then nothing but smoke and rubble within a week. Noone is going to accept MESA stock in lieu of cash, that is J.O.'s pipe dream.
Those are awfully good points.