AmeriResource Technologies Inc. (fka ARIOQ)

[janice shell]

Here's a more recent account:

Under the Plan, [Payroll Funding Company (PFC)] will be the Plan Sponsor and will contribute $25,000.00 in new capital and will reduce the principal balance by $30,243.48 and the interest rate on its secured note from 12% to 6%. In return, all old Equity Class 4 Interest Holders shares shall be extinguished and PFC shall receive 100% of shares of stock of the Debtor…

I think that's pretty clear. Goodbye to the commons. In addition, the o/s is in the billions, and it looks as if someone--probably Janovec--is converting and dumping even more. Volume today was insane.

Obviously the intended recipients of the new stock will not want to be dealing with any of that.

http://www.4-traders.com/AMERIRESOURCE-TECHNOLOGIE-3520851/news/AmeriResource-Technologies-Bankruptcy-Filings-Stories-from-the-Bankruptcy-Court-Dockets-22285792/