BioNitrogen Holdings Corp. (BIONQ)

[TFletcher]

Hi, The Blues :)
The odds are high that you will be proven correct.
You're not too far off on the high percentage of cases where the shares are cancelled.
And, there doesn't seem to be a white knight among us to step up; buy the debts; and do a rights-offering.
However, that could change.
All of the debts and the current Market Cap is less than $10 million.
There are two groups that I know of - with the capital to do it - who are taking a look at this situation.
The technology and opportunity remain sound.
This is a cash crisis... that's all.
If our shares are cancelled - and I agree that's most likely - I'll be investing in whatever new company comes out of this.
The technology and new management team will be successful, with or without us.
Sadly, if the shares are cancelled, ALL of us will be considered fools for ANY shares we bought.
BTW, I know two people that nailed the pull-back this morning at $0.0027 and sold later in the day for an 85% gain.
That didn't seem too foolish :)