Well...
Here's the truth.
Your stock isn't worthless, yet.
It soon will be.
When they exit BK, they will wipe out existing stock.
Assuming they remain a public company, they will reissue stock. Unfortunately, when they wipe out existing shares, current shareholders will have zero right to the new shares. (It's complicated, but they take the capital from SOGC old shares and use it all, then when that balance is at zero, they reissue new shares...leaving old SOGC Shareholders out....sorry)
Your best bet at any recovery is to sell your current shares, at a loss. Book the loss and when the shareholder lawsuit paperwork comes in the mail, fill it out, join the class action lawsuit, and when it's settled you will receive a portion (pennies on the dollar) of your investment. Don't worry, they will screw the new investors in the new shares to raise the capital needed to pay off the lawsuit claim.
Neat right?
SOGC has misled shareholders. I've no doubt that they did this on purpose and wholly knowing that misleading shareholders would give them additional capital.
Basically... They stole from you.
You can also choose to hold, not sell, and wait until the stock is discontinued. Then you'll have a 100% loss.
There is zero case for an argument saying "maybe they'll continue the shares and maybe they'll get bought out or maybe the stock will recover".
The company has more debt than assets so any purchaser can buy the company by assuming the debt....zero benefit for shareholders.
The stock won't recover because there is zero catalyst to recover.
They've filed BK. it's all over but the crying.
Take care.
