Soupman Inc. (fka SOUPQ)

[Millions242]

I think on the same line as you. SOUPMAN is going to trading for a long time. I went back and re-read the 8K. From what I'm reaping based from what I have read and understand is I say we are golden. Once the Chapter 7 is all wrapped up, I'm looking for a reverse merger. It is much cheaper than an IPO. Too be honest, I'm not counting out anything to move this company ahead, buy-out and possible a goal to trade on one of the major exchanges (NYSE, NASDAQ). It this stock run just $1.00, that will be millions for some folks. The Chapter 7 is to avoid paying all their creditors (which are many) and their employees, etc....

Old SOUPMAN converted from Chapter 11 to Chapter 7 due to as follows per the 8K: https://www.sec.gov/Archives/edgar/data/1475273/000155335017001115/soup_8k.htm

Below is an excerpt from the 8K:

Item 1.03. Bankruptcy or Receivership.


Following the Debtors’ sale of substantially all of their assets to the Buyer in the Asset Sale, the Debtors have worked to wind-down their remaining business and evaluate the Company’s options with respect to the remaining immaterial assets, while also evaluating their options for final resolution of the Chapter 11 Case. As described in the Conversion Motion (defined and described below), the Debtors have determined that it would be in the best interest of all creditors and stakeholders to convert the Chapter 11 Case to a case under Chapter 7 of the Bankruptcy Code (the “Chapter 7 Case”). Accordingly, on October 17, 2017, the Debtors filed a motion with the Court seeking to convert their Chapter 11 Case into a Chapter 7 Case (the “Conversion Motion”). A hearing on the Conversion Motion has been scheduled for October 31, 2017. A copy of the Conversion Motion is attached as Exhibit 99.1 to this Report on Form 8-K and incorporated herein by reference.




If approved by the Court, the Conversion Motion is expected to be effective on October 31, 2017. Further, if the Conversion Motion is approved by the Court, the Debtors’ Chapter 11 Case will be converted to a Chapter 7 Case, and a trustee will be appointed to liquidate the Debtors’ remaining assets for distribution in accordance with the priorities established by Chapter 7 of the Bankruptcy Code. If the conversion to a Chapter 7 Case occurs, the Debtors will no longer remain in possession of their remaining assets and properties, they will cease operating their remaining businesses and managing their remaining properties as debtors-in-possession, and their assets and properties will be liquidated for the benefit of their creditors. The Company believes that its stockholders will not receive any distributions in or after the liquidation proceedings, and, accordingly, that the shares of its common stock are worthless.