AmeriResource Technologies Inc. (fka ARIOQ)

[james_west_1965]

Once again, it is confusing

Doc 71 #13 reads "It is hereby ordered that the Plan Proponent shall be authorized to extinguish and cancel all
classes of shareholders’ shares of stock interest in the Debtor and to issue new shares for 100% stock ownership of the Debtor to the Plan Proponent and/or its designee."

Doc 71 makes it quite clear the Plan Proponent is AmeriResource as also being the Debtor. But grammatically that is extremely awkward. I have mentioned this in earlier post. It seems the Plan Proponent is meant to be Payroll Funding and according to the POR the shares belong to Payroll, not them just being a designee as the Order states.

With all that, the Order states AmeriResource owns the shares when the case is closed.