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Re: Tim Stock-er post# 27735

Friday, 10/07/2016 4:45:44 PM

Friday, October 07, 2016 4:45:44 PM

Post# of 30990

Indicators are bullish on this one



That is quite the feat considering the Company is completely insolvent and in Chapter 7 (LIQUIDATION) bankruptcy.

They don't have any substantial assets whatsoever. From the 8-K:

Rock Creek Pharmaceuticals, Inc. reported total assets of $35,139.15 and total liabilities of $21,300,999.35. RCP Development, Inc. reported total assets of $31,308.57 and total liabilities of $51,956,693.87 and Star Tobacco, Inc. reported total assets of $482,289.25 and total liabilities of $12,253,700.31.

Without taking out the calculator, it looks like they owe roughly $85 million more than they have in assets! The majority of creditors will get nothing owed to them, and common shareholders only get what is left after all debtors and creditors are paid in full. Since there is no real chance of creditors being paid much, if anything, the chances of any recovery for common shareholders is pretty much zero.

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