Grapefruit USA Inc (GPFT)

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This is bankruptcy

If the assets are worth anything, they get liquidated to pay the creditors. At least one of the loans has a lien on the patents as well

or

the stock gets cancelled as worthless and a new class of stock is issued to the debtholders

regardless, current shareholders are being used to finance the debtholders. Current shareholders get nothing

Twice in the past year creditors have filed to convert the case from Ch11 to a ch 7 liquidation. IGNG raising funds from shareholders to stall the creditors. Were it not for shareholders buying these stock promotions, creditors would have already siezed the assets

Creditors don't need to negotiate, they are entitled to the assets. the business can function just the same tomorrow without the current shareholders. Management gets paid before the shareholders. Dane Medley is a one of the debtholders. He needs more victims to hand over money in a doomed investment