If, as-some-say, the-BK-has "CLOSED", why-is the "Q" still-on-the-symbol?
I visualize Soupman petitioning the Judge to cancel the common shares thereby granting them an absolute HOMERUN!
Think about it:
#1 they sold all their stores and equipment.
#2 they paid off all their debt.
#3 they now are owners of a shell worth at least a million dollars.
(it's estimated that an IPO costs that much and that's why I own all these OTC stocks that are sitting @ NO BID, i.e. it's cheaper for a startup to buy a shell than request an IPO)
As one who dallies in these "dogs" I've had parcels of shares that have represented ownership in two-three-and-four different startups. Case in point: UTRM / POTN to name one!
#4 whatever Soupman does with the shell, they must still share the proceeds with the commons.
If they can convince the Judge to cancel the commons, it's a windfall for them BUT BK Referees only cancel commons when the assets are sold-off and some Creditors haven't been paid.
IOW...Shareholders are LAST. If they were a puppy, they'd be on "hind-teat"!
