American Business Corporation (ARBU)

[SlapdatAsk]

MONSTER 8K out ARBU going $2+

Smith Electric Vehicles went public: http://www.smithelectric.com/
8K: http://www.sec.gov/Archives/edgar/data/1532882/000141588914002108/abs8kjuly102014.htm
Seller: http://www.venturevest.com/biography.html
Buyer: http://www.smithelectric.com/about-smith/management/bryan-hansel/

Common shares ALIVE after Ch11:

common shareholders to receive one New Share for every 100 common shares cancelled under the Plan

The Company's plan was confirmed by the Bankruptcy Court on October 26, 2007. The terms of the Plan provide for the Company's creditors to receive one share of newly issued common stock (New Shares) for every dollar of allowed claim expunged, preferred shareholders to receive ten New Shares for each preferred share cancelled, and common shareholders to receive one New Share for every 100 common shares cancelled under the Plan. Following the distribution provided by the Plan, the Company's 69,870,517 common shares outstanding will have been replaced with approximately 25,000,000 New Shares. The accompanying interim financial statements have not been adjusted to give effect, retroactively, to the Company's confirmed plan of reorganization.