BioNitrogen Holdings Corp. (BIONQ)

[Advice_Needed]

Somebody keeps pm me about this stock, so I looked into it.

What I know...
The good news:
Regardless of being in chapter 11, this company is still very much in control of assets. Many times in chapter 11, the company tries to negotiate with creditors and if the creditors disagree, the court will liquify assets against the company's wishes and...rather than having to file for chapter 7...the company is eventually just sold off piece by piece and fades away.

The bad news:
This company is still in chapter 11. It should have emerged by now and not much is being said. The pumpers on here keep quoting a press release that's nearly a year old from city officials.

What I think...
I think the company may emerge from bankruptcy protection soon...but I think the deal with the city of Perry is off the table. The city lawyer, the city manager...nobody will return my email or my call. I think the deal was made last year when Obama was in office because renewable energy was huge for his administration. Also, I think the city is backing away from this because there were already tons of problems between this company and the city before bankruptcy issues.

Bottom line...if I had shares, I would hold them...but I certainly wouldnt buy shares until I see more information on the future. That's my 2 cents. Glta