Soupman Inc. (fka SOUPQ)

[NateTGreat]

https://www.thestreet.com/story/10870188/1/trading-a-stock-in-bankruptcy-5-facts.html

This is a very informative article regarding trading stocks going through bankruptcy proceedings. The Q will never fall off the ticker symbol, but that does not mean that it cannot be traded or that it is worth less. The take-home message here is that SOUPQ is extremely viable at this point. Gallant Brands Inc. dba Soupman Inc. will continue to trade under the SOUPQ ticker until a new symbol is issued. Even if a new symbol is authorized by the SEC, Soupman can choose to not issue it and continue trading under SOUPQ. If Soupman does issue a new stock, it can actually continue trading under both stock symbols. Also, once the reorganization plan is presented to shareholders, it may indeed prioritize current shareholders to receive the newly issued stock in exchange for their old SOUPQ stock.

Since Wealth Colony, Friedman, and Hagan all have invested in SOUPQ millions of shares, it is hard to believe that they would cancel the stock and render it worthless. My guess is that the reorganization plan will either continue trading under the SOUPQ ticker indefinitely, or it will issue new stock to current shareholders.

Typically, investing in bankrupt proceedings is extremely risky, but I would have to say it is actually a safe play to hold as much SOUPQ as you can.