Okay...
Maybe you've misunderstood.
Here is what SOGC said about their stock:
"We have too much debt. To be clear; we have so much debt that is senior to our shares that it is likely our common stock will be cancelled during our bankruptcy. Further, any person holding SOGC common stock will see limited, if any, compensation for their lost investment. Lastly, we have written huge bonuses for us, and judge Chapman signed off on them in December of 2015. These bonuses are worth more than our personal SOGC stock so we are happy and we aren't at all sorry we've screwed shareholders"
Pretty much a direct quote from their latest filing.
Now, here is a copy and paste quote from their latest SEC filing, enjoy;
"The Company has a significant amount of indebtedness that is senior to its existing common stock in its capital structure. As a result, the Company believes that it is highly likely that the shares of its existing common stock will be cancelled in its Chapter 11 proceedings and will be entitled to a limited recovery, if any. Additionally, as a result of the filing of the Bankruptcy Petitions, the Company’s common stock can no longer be traded on the OTCQB Marketplace and is now trading on the OTC Pink Marketplace."
Feel free to keep holding. You'll wake up soon seeing your shares have been cancelled.
Do you know what that means?
Do you know what "shares have been cancelled" means ?
Go take your bank account balance...today...you have say, $10,000 dollars in it and are happy.
Now,
Wake up tomorrow and see that your account balance of $10,000 is all gone and your bank says "sorry...we told you we were going to take your money so it's legal and your money is gone forever and it's ours forever and there's nothing you can do."
Insert your happy face here.
