DoMark International Inc. (fka DOMK)

[Frayed Knot]

I seriously doubt there is a bankruptcy coming.

It will be much less expensive for DOMK just to die a quiet death by not renewing it's Business License.

But to answer the question - NO - everyone would be screwed, investors, stockholders, etc.

IF Andy filed bankruptcy for DoMark, it would be reasonably expensive and a long process.

Also, many documents would have to be filed which is probably not something Andy wants to do. A complete accounting of the company would have to be revealed. Not likely.

There is one reason Domark could file bankruptcy - to stay any court action that might be coming against Domark. I have direct knowledge of how this works. I was getting a judgement, a bankruptcy was file. Everything stopped. Eventually the bankruptcy was dismissed and the judgment was issued in my favor - it took several months.

Thinking about it, he could file the first part of the bankruptcy which will stay all court proceedings, then when the rest of the information is requested, he would not supply it, so eventually the bankruptcy would be dismissed. As previously state, it would take a few months, so it could be something he might want to do but in the end..

I highly doubt Andy Ritchie will be filing a bankruptcy for Domark that he plans on completing.

STAY:

The act of temporarily stopping a judicial proceeding through the order of a court.

http://legal-dictionary.thefreedictionary.com/stay

A stay of proceedings is a ruling by the court in civil and criminal procedure, halting further legal process in a trial. The court can subsequently lift the stay and resume proceedings. However, a stay is sometimes used as a device to postpone proceedings indefinitely.

Here is information from the SEC about the bankruptcy process

http://www.sec.gov/investor/pubs/bankrupt.htm