This stock in worthless and will be cancelled .....
You better read this statement below from the company ....
"Upon confirmation of the plan, the new common stock of the Company will be issued to the holders of SGI's Senior Secured bonds in the manner described above. All of SGI's existing common stock and the unsecured subordinated debentures will be cancelled upon confirmation of the plan by the court and receive no recovery. Accordingly, the Company believes that SGI's currently outstanding common stock and unsecured subordinated debentures have no value.
McKenna concluded by stating "We regret the effect that this will have on SGI's shareholders and other unsecured creditors. SGI plays a critical role in the world's infrastructure. This needs to be preserved."
My board is ...... CHICKEN MAN - winning picks !!
