Guy3, thank you for asking :)
I was definitely concerned Chapter 11 might be in the pipeline. That concern is still there, but diminished somewhat from what it was when the 8K Default Notice first was filed.
The reason my concern has diminished is that it hasn't actually happened yet; often when these things start, it's like a domino effect.. in this case the 8K would have been the start, and things often fall apart with increasing rapidity from there, but that has not happened here (and thank fk for that!)
In addition, the pps has held up much better than I expected, and usually if Chapter 11 was on the cards something would have leaked by now (even if only to a few insiders and associates), and the pps would reflect that with some large dumps from major shareholders, but again, that has not happened beyond the initial reaction from the 8K filing.
I am not discounting that it could still happen, particularly given ACTC's continued silence on the default, but as time goes on, that eventuality decreases.
With the above in mind, the risk/reward tolerance for me is swinging back to where I may take advantage of this relatively low pps.. but with caution, and I will be keeping a close eye on this, ready to dump at a moments notice if need be.
