Login / Register
iHub My Stocks Activity
Ticker Buzz Cloud
Most Followed Members
News By Market
Top PlusOneCoin Posters
Data Tools >
Price & News Alerts
More Tools >
My Image Gallery
PLUS1 Info & Faucet
Mining Profit Calculator
Internet - Online Services
DigitalTown, Inc. (DGTW)
Add DGTW Price Alert
Search This Board:
3/5/2021 4:57:23 PM
- Board type:
- Posts Today:
Note from reaper247: Unfounded and false claims that DGTW is being promoted (pump and dump) made on the DGTW board and lower portion of the ibox, should be dismissed as buffoonery, until such time that those claims can be validated through publically verifiable information.
(Updated From Moderator: stervc)
DigitalTown, Inc. to Use Voluntary Chapter 11 Process to Position Business for Long-Term Success
NEW WESTMINSTER, BC, Sept. 21, 2020 (GLOBE NEWSWIRE) -- DigitalTown, Inc. (OTC:
DGTW) (the “Company”) announces that the Company has
filed for relief under Chapter 11
of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Minnesota, St. Paul Division,
paving the way for business continuity, profitability and sustained growth in shareholder value.
Following the announcement of a
new management team
in May 2019, DigitalTown began
making substantial progress on their commitment of cleaning up the Company’s balance sheet and exploring opportunities that would bring value to the Company’s shareholders.
DigitalTown was successful in
converting over $2 million of debt into stock and structuring a go-forward plan with appropriate financing measures.
The plan’s execution was conditional on negotiating a
satisfactory resolution with its former CEO who had an active, previously disclosed lawsuit against the Company at that time.
DigitalTown’s various negotiation efforts were unsuccessful, leading to the granting of a summary judgment motion in favor of the Company’s former CEO due to the Company’s inability to access resources to formally defend itself.
Since that time, this same party has filed another lawsuit against the Company and has made hostile threats of additional suits against the Company as well as personal suits against directors and officers, unless management resigned and turned over control of the Company to him.
DigitalTown’s management has been working on a detailed plan for moving the Company forward and realizing value for shareholders and all stakeholders, and is prepared to execute on this plan after a successful reorganization.
In the absence of an alternate, genuine plan for the business clearly articulated by any other party, management would have considered it a breach of its fiduciary duty to turn the Company over to anyone to simply avoid the inconvenience of threatened, specious lawsuits.
“After careful consideration of all challenges and alternatives, we firmly believe that our Chapter 11 process represents the best long-term solution for DigitalTown to address its legal and liquidity challenges and to strengthen its operations for future growth and profitability,” said Sam Ciacco, CEO and Chairman of the Board of DigitalTown.
DigitalTown's approach to leveraging the benefits of Chapter 11 allows the Company to emerge with a healthy balance sheet and reorganize its debt and fairly treating creditors,
while ensuring existing shareholders retain their equity stakes
Management decided on this preferred alternative to a Chapter 7 Bankruptcy in which the positions of DigitalTown’s creditors and shareholders positions would be entirely lost. This remains a possible outcome should the Company’s plan be obstructed in some way.
DigitalTown’s board and management is appreciative of the support and endorsements received to date from so many of its stakeholders.
Founded in 1982, DigitalTown has serviced various sectors from sports to computer training to computer hardware and software. DigitalTown develops turn-key hosted solutions for economic development, civic engagement and digital inclusion platforms for both web and mobile devices, improving the quality of life for residents and visitors in cities around the world.
This company filed for bankruptcy on September 8, 2020, then PR'd it on September 21, 2020.
Filing for bankruptcy says $2501 in assets, $3.5M in unsecured claims.
You heard that right, this company with 2.9B shares in its O/S has $2501 in assets and $3.5M in unsecured claims.
They are severely delinquent in their financials, the last ones published showed ZERO Revenue.
The stock has traded at a PPS of $0.0001 for over a year. Nothing about going bankrupt makes this company more valuable. Nothing about the company saying they'll leave the stock standing makes it worth more than it was for the year leading up to the bankrutcy filing.
The RS they wanted to do so they could dump more stock was denied.
This is a pump and dump, another Q stock bagholder's exchange program. And, yes, they'll get their Q once FINRA learns of the bankruptcy.
DGTW Detailed Quote
Post New Msg
My Stocks (45)
SubV eligibility has now been posted
02/11/21 06:44:23 AM
This company has no business operations, no employees
02/07/21 04:15:15 PM
According to our DD, the judge will grant
01/26/21 08:45:26 AM
dipANDrip, with this huge DGTW Judge Approval tweet...
12/23/20 09:24:43 AM
DGTW Common Shares Remain Intact & Much More Intel...
11/24/20 09:06:47 AM
Definitely consolidation ace! We moved well beyond that
03/05/21 04:57:23 PM
Bottom consolidation IMO
03/05/21 10:08:55 AM
Bottom feeder Mega Bounce imminent ;-)
03/05/21 08:47:55 AM
Good to see ya Penny2Dime.
03/05/21 12:56:59 AM
Possible bottom at.0014? Hope so because are
03/04/21 11:15:30 PM
Looks great Now ;-) .0014 was definitely the bottom!
03/04/21 10:29:11 PM
Hey Reaper, Any idea what’s going on here?!
03/04/21 10:22:41 PM
I just want a good down payment on
03/04/21 08:23:23 PM
Missed my .0009 order yesterday on hcmc... ready
03/04/21 08:18:55 PM
Come on .0009 before PR....
03/04/21 08:17:29 PM
Honestly I don’t have a clue why they
03/04/21 07:40:07 PM
Maybe .0009. Definitely great buying op if you
03/04/21 07:01:39 PM
Agree! Gooo DGTW!
03/04/21 06:06:40 PM
Tons of Pacer activity today. Possibly another update?
03/04/21 03:18:54 PM
It's all red for the past 2 weeks everywhere...
03/04/21 12:46:20 PM
03/04/21 12:22:28 PM
Judging by the entire market, patience might be
03/04/21 11:51:00 AM
Stuck....how low can it go
03/04/21 10:39:37 AM
.0014 Bid ??? Wow
03/04/21 10:34:01 AM
I'm far from an expert but I don't
03/04/21 10:16:57 AM
03/04/21 10:08:20 AM
They do whatever they want!!
03/04/21 09:33:29 AM
CURVE BALL COMING?
03/03/21 05:29:30 PM
Day will come and it will be postponed
03/03/21 03:06:18 PM
Sounds like a plan to me!! WOOOOOOOOO!! LETS
03/03/21 02:46:37 PM
Its not the POR date, company's text yesterday
03/03/21 02:40:00 PM
The only thing left to do here is
03/03/21 01:23:29 PM
That is the POR date. Because they need
03/03/21 10:34:59 AM
DigitalTown @Digi_Town · 17h The courts have now scheduled a Status Conferen
03/03/21 09:01:37 AM
BINGO!!! POR COMINGGGGG! NO BRAINER! Judicial system can't
03/02/21 10:39:33 PM
I thought it could be when the wall
03/02/21 09:59:12 PM
So why have a court date March 18th?
03/02/21 09:55:01 PM
Hard to say considering Courts have already approved
03/02/21 09:45:40 PM
Yes, that is correct.
03/02/21 08:53:16 PM
This baby will be back to Copper sooner
03/02/21 06:29:47 PM
The $5m funding...
03/02/21 05:06:21 PM
Well I guess we will NOT hear of
03/02/21 03:40:17 PM
Explains the dead silent volume
03/02/21 03:35:23 PM
Thinking that's not the POR court date
03/02/21 03:24:00 PM
Right, now it needs to move to the
03/02/21 03:18:13 PM
Correct, this stock will NOT be halted. Up
03/02/21 03:14:46 PM
Why hasn’t the company announced anything on their
03/02/21 03:12:00 PM
So I guess this one can come off
03/02/21 03:09:45 PM
03/02/21 03:07:00 PM
$DGTW Notice of Status Conference scheduled 3/18 posted
03/02/21 02:52:04 PM
$DGTW Notice of Status Conference scheduled 3/18 posted
03/02/21 02:52:01 PM
Yep that's what I'm thinking although its good
03/02/21 10:52:15 AM
DGTW once this .0028 wall falls it’s go time
Longer Than Most
03/02/21 10:50:38 AM
Well slow and steady is the jam here
03/02/21 10:47:48 AM
That's exactly what in doing Penny! Accumulating the
03/01/21 03:36:10 PM
Post New Msg
My Stocks (45)
Get FREE PlusOneCoins!
© 2021 InvestorsHub.com, Inc.
Terms of Service
Advertise With Us
Market Vision (YouTube)
Stock Market 101
Investor Help Forum
iHub on Facebook
iHub on Twitter
iHub iPhone/iPad App
iHub Android App