Max Sound Corporation (MAXD)

[grantastic]

The option to acquire is an asset which in itself has value. Creditors would acquire that option as part of a settlement. Alternatively, MAXD could be ordered to exercise the option & sell its interest.

It would be ludicrous to allow someone to escape creditors by hiding assets behind options. Someone facing impending bankruptcy could simply pay $100,000 today for an agreement to deliver $101,000 in t-bills next year.