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Ty for reply I tried a trial buy and put in a ask of .0009 even though I was going to cancell before it went thru and it rejected it due to no bid/ask available oh well got me excited for a minute . Ty for reply
Bankruptcy or Receivership, Creation of a Direct Financial Obligation or an Oblig
Item 1.03 Bankruptcy or Receivership
On December 12, 2011, RoomStore, Inc. filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court of the Eastern District of Virginia, Case No. 11-37790-DOT.
Item 2.03 Creation of a Direct Financial Obligation
On December 13, 2011, the United States Bankruptcy Court for the Eastern District of Virginia (Case No. 11-37790-DOT) entered an interim order authorizing the Company to execute all documents necessary to obtain post-petition, Debtor-in-Possession financing in the amount of $14 million from Wells Fargo Bank, the Company's existing lender. To secure repayment of all pre-petition and post-petition obligations, Wells Fargo was granted a first priority and perfected security interest and lien on all assets of the Company, except for the Company's real property located at 1008 Highway 501 in Myrtle Beach, South Carolina. On December 15, 2011, the Company executed a Ratification and Amendment Agreement in order to obtain and secure the DIP financing described above.