The dilution will occur after they cancel this existing bankruptcy stock and create the new shares, unless they decide to go private. If they don't go private only question is what percentage will the dilution be and how long will it take before the stock price gains that percentage back.
I thought about cashing out on a dead cat bounce, but now I am deciding to ride this out either a little more or all the way, because the 2nd quarter earnings comes out soon and the plan will changed hopefully in our favor:
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