The company's position is that all of the debt that forced the company into bk was originated by the x-ceo that was forced out by the bod. According to my research, that seems to be correct. The management tried to peddle the company assets for over a year and only one bidder was either qualified or interested enough to purchase the assets. Whether some think the price paid was sufficient is irreverent and if forced to continue it's present form would have ended even more of a disaster for shareholders. A complete loss and no opportunity to recover any measure of investment. The equity committee states a savings or return on their efforts and maybe so but looking at it, the 2 million the committee was allowed to spend in litigation was fairly close what they suggest they saved shareholders. For my part, I'm happy they were there to try and get to the bottom of the mess although I don't see anything of any magnitude concerning discovery to add residual to shareholders in the form of disbursement. So, I'm calling their efforts a push. Going forward and the fact being that as if I didn't already lose a bunch of money for being so out of step with this company/management/debt ratio, I decided my investment loss wasn't enough so I doubled my position over the last couple of days. I'll be voting for the new combined company with my shares that apply. Good luck to investors whichever way it flops- cash out or new potential/ maybe potential headaches. We'll see.
