Updated Capitalization Table for GMX Resources ($GMXR)

This is from today's investor presentation (amounts in $MM):

2013 Convertible Senior Notes $27 (trading at about 90 - a yield of almost 40%)
2015 Convertible Senior Notes $48 (trading at about 50)
2017 1st Lien Note $289
2018 2nd Lien Note $52
2019 Senior Notes $2
PVOG JV Financing $1
Series B Perpetual Preferred Stock $79

Total $498 of liabilities senior to the equity. Then, the market cap is something like $60+ million now.

In the presentation, the company says that the "remaining balance [of 2013 notes will be] addressed by: "debt for debt or debt refinancing, debt for equity, [and/or] cash or proceeds from asset sales ($10MM limit)".

I'd expect the company to announce another exchange offer, this time debt-for equity. That would include the 2013s and possibly even the 2015s.