There is always the possibility of some kind of delay. That being said...and IMO as a person who never had the displeasure of working as a court clerk in Iowa...I think it is a good sign that creditors (with the exception of URSA) have approved two plans prior to the one that was just submitted to the court and an agreement has been made with URSA to settle their debt...in addition to the fact that the judge just approved the current amended disclosure statement.
I have no idea if the creditors as a class will approve the URSA agreement but if they do IMO it is a good sign this will be over in July...because why would they approve the URSA agreement and not approve a plan they have already approved twice.
While I don't expect that exactly on July 13 at 11am the minstrals will sing on high...I believe the plan will be confirmed by the judge and the company will begins its exit from bk.
There are many differences here that cause this situation to be different from other bk cases regardless of what Chapter they are filing. The company has grown in size and revenues and is being supported by TMobile for instance. I think the judge...who already approved the disclosure stmt...will view that as a positive thing.
Time will tell what happens here but from what I have found trading penny stocks...my background in Accounting is virtually useless in determining the value of a stock to the market.
If anyone says they have an investment philosophy, remind them that a monkey picked a winning portfolio over a fund manager...then fling your poop at them.
AI
