Jackson Jambalaya

Kior announce in a recent SEC filing that it is exploring a sale of the company.  Kior stated yesterday:

On July 9, 2014, the Company announced that, under the guidance of its board of directors, it has engaged Guggenheim Securities, LLC as the Company's financial advisor and investment banker to provide financial advisory and investment banking services and to assist the Company in reviewing and evaluating various financing, transactional and strategic alternatives, including a possible merger, restructuring or sale of the Company.

The company also officially stated that the Mississippi Development Authority granted a forbearance term of four months  on repayment of the $75 million loan:

On July 3, 2014, KiOR, Inc. ("KiOR") and its wholly-owned subsidiary Kior Columbus, LLC, ("KiOR Columbus," together, with KiOR, the "Company"), entered into a Forbearance Agreement (the "Forbearance Agreement") with the Mississippi Development Authority, acting for and on behalf of the State of Mississippi (the "Lender"), in connection with the Loan Agreement, dated March 17, 2011, by and between KiOR Columbus and the Lender and other related agreements (collectively, the "Loan Documents"). KiOR is a guarantor under the Loan Documents. On June 30, 2014, the Company was unable to make its semi-annual payment of $1,875,000 required by the Loan Documents and was in default of certain non-payment obligations under the Loan Documents (collectively, the "Existing/Anticipated Defaults").

Pursuant to the terms of the Forbearance Agreement, the Lender has agreed to forbear from exercising its rights and remedies with respect to the Company's Existing/Anticipated Defaults while the Company explores various strategic transactions (the "Transactions Process") described in more detail under Item 8.01 below (Discussion of possible sale- KF). The Company intends to complete its Transaction Process, or make substantial progress toward completion, before the expiration of the Forbearance period. The Forbearance period commences on July 3, 2014 and ends on the earliest to occur of (i) October 31, 2014 or (ii) the date of a Forbearance Default. A "Forbearance Default" means (x) the existence and continuance of any Event of Default (other than an Existing/Anticipated Default) under the Loan Documents, (y) any failure by the Company to keep or perform any of the terms, obligations, covenants or agreements required by the Forbearance Agreement or

(z) any representation or warranty of the Company in the Forbearance Agreement being false, misleading or materially incorrect. The Forbearance Agreement is subject to customary covenants, including limitations on payments of indebtedness to other persons or entities, a requirement that the Company diligently execute on its Transactions Process and requirements that the Company provide periodic financial information and status reports to the Lender on the Transaction Process.

If, by the end of the Forbearance period and after three business days' notice, the Company does not either (i) pay the sum of $1,875,000 originally required by the Loan Documents as of June 30, 2014 or (ii) complete the Transaction Process and enter into a transaction with regard to the Company's collateral acceptable to the Lender, the Lender can declare all of its obligations due and payable, including principal and interest, as authorized by the Loan Documents.

 TIIIIIMMMMMBEEEERRRRRR!!!!!!

Can we say.... fire sale? Thank you Haley, Republicans, and Democrats in the Legislature. You all voted for this one.