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.
My belief is the stockholders mentioned in the above excerpt are their stakeholders (employees, creditors, vendors, suppliers, etc...). Once the old company's Chapter 7 is finished with the court from a legal matter standpoint, it can no longer sponsor e.g., the employees pension funds, 401Ks, etc... When Gallant Brands substantially bought all Soupman's assets, that included the stock as well, which we the shareholders will fall under. I tell you what, at the end, we will all know who food chain we fall under. I'm betting Gallant Brands for us shareholders and the old Soupman regime for the employees, creditors, suppliers, vendors, etc. This is just my belief based on what I have read and understand.
We would not be here today if the old Soupman management would have worked with Wealth Colony management. The old management was robbing the company and its stockholders who also included Wealth Colony as a stockholder and I mean a BIG STOCKHOLDER. Soupman had too much potential and growth to be at a standstill. SOUPMAN should have been tradeing at least at a minimum over $1.00 under the old regime management. So, here we are, approaching the end of the tunnel and there's a silver lining for us shareholders. There's light for us. We are golden.
AI
