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LouisDesyjr

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LouisDesyjr

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Wednesday, 12/09/2015 2:48:11 PM

Wednesday, December 09, 2015 2:48:11 PM

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Common shares are dead

I just found out that AXIH filed Chapter 11 several days ago.

I looked up the September 2015 10Q. Stockholder's equity was negative $31 million and the company appears to lose one million per quarter.

The news stories about the filings mention that the unsecured is expected to get zero, meaning the existing common shares will be wiped out since they are lower in priority than the unsecured liabilities.

http://www.wsj.com/articles/axion-international-files-for-bankruptcy-to-sell-assets-1449099105?mod=yahoo_hs
Axion International Files for Bankruptcy to Sell Assets

The company said it doesn’t believe there will be funds left over for unsecured creditors after secured and other higher-ranking claims are repaid.



Louis J. Desy Jr.

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