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As with consumer bankruptcy, business-related bankruptcy is governed by federal law. The debtor, in this case a corporation, either files Chapter 11 or Chapter 7 bankruptcy, depending on its financial standing and prospects for recovery. Under Chapter 11, a company will reorganize its business as it attempts to offload debt and return to profitability. Under Chapter 7, a company goes out of business entirely and sells off (or "liquidates") its remaining assets, using the proceeds to pay back debts to investors as well as creditors. In this case, stockholders lose all value because stockholders own a piece of the company and the company is eliminated.
I don't know anything about the grey market (had to look it up after you mentioned it)...so does that mean that this thing will continue to trade on the grey market and eventually become an IPO on the stock exchange?
You know Malc...you shouldn't pop the cork on the champagne yet. While it seems you're most likely right here...ive seen 2 different instances where a company has publically cancelled common shares...only to turn around and issue new shares of the new company.
No it won't malc...this has been proven by irs.com...he can use the NOL for up to 2 years after it dissolves.
Not roche's style...and you don't think the number of shares being dumped now would be a hell of a lot higher if people had bought up that many shares? I'll go with roche and family still holding and a low float about to become very valuable.
Have you seen 161 million shares traded in the last 7 months? Me either.
All I see here are people preaching death and destruction...yet...12-14 million shares traded in 3 days since the bear raid began? Maybe this float is as small as we think it is?...which will bode well for me when this explodes because...
1) I still don't think roche just throws away 2 million dollars in shares he bought over the past 2 years.
2) I don't think roche throws away the 250-thousand dollars he and his family spent buying 18 million shares in this venture.
I
People are scared. They think this is over. You either sell and run or take your chances depending on what you believe. Me? I'm done buying, but I'm not selling. I'll take the loss if this goes south...but you don't write things in the press release such as...
"The Company's current understanding is that Roche Enterprises intends to operate the rVue business using the assets acquired in the UCC sale, through a new entity under its sole ownership."
OR
"We greatly appreciate the support of all of our investors and customers. We regret that the Company COULD NO LONGER OPERATE IN IT'S CURRENT FORM and wish each of our shareholders and our team nothing but the best."
I still think it is coming. I don't know why it's taking so long, but I still think those who stay will be surprised. JMO
Sorry malc...but a company can be brought back to life and the NOL can be used for up to 2 years after it is dissolved.
Ya...more/less thinking out loud.
My logic is a "confident nervous wreck"...90% of me says it's time to pop the champagne...10% of me says he took it off his website...i expected a pr announcing that it had become a new entity or some kind if news release before updating his website.
A very confident person could probably get some seriously cheap shares tomorrow if they wait until the afternoon. I think he pulls the trigger in the morning after doing this today.
All I know is...im betting today was the last chance to buy below a dollar after news drops tomorrow morning.
It was there until the website updated thos afternoon. Now it's completely gone. I suppose I was expecting it to update into the new business rather than just disappear.
I'd say tomorrow is "do or die"....and i dont like what i see. Maybe someone can shed light on this...just looked at roche enterprises website...rvue is gone.
Not only that...as a small business owner I'll tell you it us much easier to fudge a few numbers here and there for tax purposes as a private company than a public company. Everyone does it...including roche. That's why it only makes sense to me for this to become roche holdings rather than roche enterprises. That way he can put the particular businesses he wants investor help with into the shell...and keep others that may "bend the rules" a bit private. However, if he doesn't pull the trigger soon, I'm going to call his mom and tell on him. I would say "good luck" kids...but I don't think luck is needed here. Patience kids!
They are all closed. And the company owes a ton of money to creditors. And the company is in a forced chapter 11 right now because creditors want their money. And the directors are on the verge of facing jail time for not upholding their fiduciary duties. And I can't understand what pumped this stock...but it's not worth more than .0001 and I see a forced chapter 7 bankruptcy and shareholders being wiped out soon.
Tomorrow.
Wait until roche puts the new company in place...it will be greener than a Japanese man's balls after fukishima...and your 1k will get you about 1,000 shares.
Yup! And while I don't think he will wait this long...technically, with rvue holdings not expiring until Nov 30th and roche holdings not having to list officers until Oct 30th...i better take up crocheting.
I'm disappointed roche didn't pull the trigger today, but I'm sure there's something I'm not seeing. After looking at roche enterprises and roche holdings in the nevada sos...i do think this is going to be roche holdings. The officers for roche enterprises were named long ago and don't have to be updated until spring 2018...however, you'll notice that there are no officers named for roche holdings, except thresea, who is a manager. While I'm still 100 percent confident we own a gold mine and roche will take us there...i can tell he is going to teach me serious patience by placing one business at a time in this thing as he sees fit.
So the last news on this came 6 months ago showing that the company has no active business and has filed for involuntary chapter 11 bankruptcy.
http://www.jaxdailyrecord.com/article/creditors-seeking-money-owed-latitude-360
It owes creditors 6.3 million dollars...and those are just the creditors listed in the article. There are still 4 other creditors this company owes unknown amounts of money to. The only news I expect to see here is switching from chapter 11 to chapter 7, wiping the slate completely clean (including canceling stock), and throwing the board of directors in jail for breach of their fiduciary duties.
I'm guessing there are some here who think this could become a buyout by a different company?
Certainly not because it is a scam. Not in the otc? LOL!
Too bad...scottrade won't let me buy this. However, when the owner has 30 million shares and that represents 20 percent of the outstanding shares...that tells me this has low float and high potential.
Why do you think we go a long time without hearing anything? 30 day dissolve period is over, roche owns the assets, company has been liquidated, new entity has been created in Nevada...all the pieces are in place for the next chapter. Roche isn't some crap penny stock owner pumping or diluting a penny stock. He's a businessman with extensive knowledge on how this works and he owns all the pieces. I'll actually be surprised if we don't see news this week. I'm expecting tomorrow. I don't a reason for delays like we saw with the auction.
If Roche wouldn't have extended the bidding process, this thing would be on the exact predicted time line. I think we see news Monday. May not be until close on monday...thus you might get your wish of a few cheap shares.
I'm sure he already filed the "F reorg" if that is truly what is happening here. But an F-Reorg can happen at the beginning or the end of the process...as long as the process meets the F-reorg requirements.
By looking at what has happened here...I'd say we are at the final step before the new entity takes over.
http://www.taxlawforchb.com/2015/10/sometimes-an-f-is-a-good-result/
Again...all this is my opinion (which was formed by my tax attorney)...this could easily vanish in 3 days...but this guy has 30 plus years experience and is pretty damn good at what he does. We shall see.
Just luck that my attorney had just got done with a similar case or I doubt he would have known about it either. I'm not saying that's what is happening here...but based on how and F reorg works and how roche has set this up...they line up pretty well together.
Lol! I think he was very tempted when I told him who robert roche was...but he said he leaves his investments up to his broker. Thus, I doubt it...but you never know.
Exactly...roche benefits by doing it tax free. We benefit because share structure stays the same going into the new entity.
Because of the "f reorganization" form and "mere change" my tax attorney pointed out to me earlier. I went to see him for a different situation...figured since I was paying him an ungodly amount of money per hour...i might as well use it to my advantage.
He said he just got done with a similar case where the "f reorganization" didn't work because it was a different company buying the empty shell. However, in this case...roche remains the owner...all shares transfer over in same form...the old company is liquidated...and using this form...roche does it all tax free. The only question he couldn't answer was if the former entity has to dissolve before the new entity starts...but he called me about 45 min ago and said the old entity doesn't have to dissolve...but to stay alive, roche would have had to leave a few assets in it, which would be a burden in the future because the 2 corporations have to become one entity at some point. Thus, taking all the assets and dissolving the corporation was the right move. He said if he was a gambling man, this would be pocket aces at the start of a texas holdem hand. When i asked him why roche wouldn't just do a reverse merger...he said simple...reverse merger would have a lot of tax implications...this way he gets everything, keeps everything the same, and does it all without owing uncle Sam a cent.
I'm well loaded...but I've never been as confident in this stock as i am after today. I'll load a few more tomorrow if scared people are willing to give them up.
I wanted to take a piece of it...but decided to wait for those who sell out tomorrow thinking this is done.
Yes it would. In fact, it almost falls into the same category as a "mere change". The company has to use the same entity (RVUE), just change the name and form a different business (Roche Enterprises), in order to use the NOL. That is the main reason Roche kept the shell.
I think this thing has to dissolve completely before the new entity can begin. I'm keeping all I've got and hoping Monday is our day.
I'll tell you guys...I seriously think Roche is using a "mere change" to make this transition by using what's called an "F Reorganization". It doesn't happen very often because certain guidelines have to fall into place for it to be used.
The 4 rules that apply to an F Reorganization are as follows:
1) All the stock of the resulting corporation, including stock issued before the transfer, is issued in respect of stock of the transferring corporation.
2) There is no change in the ownership of the corporation in the transaction, except a change that has no effect other than that of a redemption of less than all the shares of the corporation.
3) The transferring corporation completely liquidates in the transaction.
4) The resulting corporation does not hold any property or have any tax attributes (including those specified in Sec. 381(c)) immediately before the transfer (Prop. Regs. Sec. 1.368-2(m)(1)(i)).
You can read more about it on the IRS site.
https://www.irs.gov/irb/2015-41_IRB/ar08.html
It is very rare...but RVUE and Roche fulfill all the necessary credentials to use it.
While the article itself is interesting...it's the idea that it is on roche enterprises website that keeps me interested in and holding my stock here.
Roche Enterprises website seems to be updated twice a week. If Roche was done with RVUE, he would have already deleted it from his website by now. It's still on there...just a matter of time before it is updated to represent the new company IMO.
That's the first I've seen of that one!
Yup...figure I'll be crying either way. The 20-thousand + I would have kept in my account if I had sold out at .02...or the 2 million + I'll have in my account because I held on.
As much as I want to submit my vote for news tomorrow...going 30 days from the official sale...I'm predicting Monday. Friday at midnight is 30 days from PR. Monday morning we see news. Of course, if we don't see news by Friday, I have to wonder if this will still trade come Monday? Bahahahaha! I'll take my chances. GLA!