Secure Point Technologies Inc (fka IMSCQ)

[buffalop51]

This has a lot more likelihood of happening then getting someone to lend this company money to help manage debt. This is real if they don't sell this company. My opinion. This is serious.

Chapter 11
This proceeding of the U.S. Bankruptcy Code involves the reorganization of the debtor's business affairs and assets. The company undergoing Chapter 11 expects to return to normal business operations and sound financial health in the future. It's generally filed by corporations that need time to restructure debt that has become unmanageable. Chapter 11 gives the debtor a fresh start, which depends on the debtor's fulfillment of obligations under the reorganization plan. A Chapter 11 reorganization is the most complex and, generally, the most expensive of all bankruptcy proceedings. It is therefore undertaken only after the company has carefully analyzed and considered all alternatives.


Read more: An Overview Of Corporate Bankruptcy http://www.investopedia.com/articles/01/120501.asp#ixzz3sRqCwk7j
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