It depends on what the equity stake for current STW shareholders ends up being in the new entity, following the Sec. 363 Chapter 11 proceeding and the Sec. 25 Exchange offer and issuance of shares in the new entity. As I understand it, the current STWS shares will necessarily cease trading and there will be a restructuring and termination of the toxic STW name, etc., with the assets, including water permits, contracts and licenses transferring over to the new entity. From what I have been able to piece together, it appears that the Salt Tech folks have already met with the Pecos/Capitan Reef entities and Ft. Stockton to begin working through having everything transfer over to the new entity.
But shame on the former STW bunch for holding us out in the dark (Sounds now like the Salt Tech folks took control prior to the emergency shareholders meeting, with e-mail, etc. forwarding over). Also, it is sounding like the former executive team will be history, which is apparently a good thing.
And, belated kudos to you, BBP, for exposing that Paul DiFrancesco as a bad apple.......a despicable rat if you will. He apparently blew smoke up everyones you know what here.
