Vision Industries Corp. (fka VIICQ)

[jjrachlin]

from the Department of Understatement:

Albany, New York (09/26/2014) – Vision Industries Corp (OTCMKTS:VIIC) filed for Chapter 11 bankruptcy, and that is the reason the stock is in the red today. Although the voluntary bankruptcy filing does not mean the company will go out of business soon, but it means that it will embark on a serious debt restructuring effort. However, there are concerns whether such efforts will end in success. The company already has a challenge in raising capital especially through equity issuance. It was recently stopped on its tracks by lack of a quorum when it tried to raise the number of its authorized share. Had Vision Industries Corp (OTCMKTS:VIIC) got its way with the attempt at a raise, its authorized shares would have move to 10 billion from 500 million. The company has already performance massive dilution of its stock. A case in point was the period between July 7 and August 7 when the company issued 55 million common stock shares.

http://www.usmarketsdaily.com/the-latest-on-vision-industries-viic-radioshack-rsh-digital-ally-dgly-2519