Ignite Restaurant Group Inc (fka IRGTQ)

[dinogreeves]

So, lets debate here for a minute. Yes!!! It's a highly speculative play, especially considering that some billionaire is paying $55 million to buy this venture that he originally owned. My question to you is, where is that $55 million going to go? Definitely not in the piggy bank of IRGTQ, Debtors right? Right because they are liquidating the asset so that the debtors can get paid, now if this billionaire decides to strike a deal with the debtors and keep the shares intact, that would be the ideal situation for the longs on this board. But, remember billionaires are not your savior, they are buying assets literally a penny on the dollar, he is going to take it private and the shareholders more likely will get wiped out and build the business up and turn around and sell it again for whatever amount, lets throw in a hypothetical number 200 million dollars again, there is a reason why they are billionaires.