BioNitrogen Holdings Corp. (BIONQ)

[TFletcher]

You are right again, The Blues, and I admit that my perspective is overly optimistic.
But, it is a genuine possibility.
In most cases, the re-organization plan - agreed to by creditors and the debtor - calls for cancelling the existing shares.
Generally, the US Trustee simply approves whatever plan to which those parties agree.
It would be a rare exception if the possibility I described was agreed to by both parties.
Like you, I'll probably opt for the tax loss benefit if the board fails to see the benefits of a "Rights Option."
In the mean time... what can we do but hope?