Red Giant Entertainment, Inc. (fka REDG)

[rickn23]

It wouldn't help shareholders. Debt likely exceeds assets. A bankruptcy would likely wipe out shareholder to satisfy debt-holders.

The last lawsuit was supposedly about debt generated by operating expenses (statements from the SEC filings and court documents). If this is true, REDG is likely generating new debt since the old debt was wiped out.

There are still an unknown amount of convertible debt (with penalties) left, also.

I also think that Northbridge would still be a debt holder until they are satisfied.