Point 360 fka PTSXQ

[PennystockID2017]

Latest NEWS: May 8th 2018 Deadline...Then this rocket ship lauches.
Here is the link for up to date news. http://www.4-traders.com/POINT-360-19344068/

04/10/2018 | 12:00am EDT
Point.360 Extension Approved -- The U.S. Bankruptcy Court approved Point.360's motion for an order extending the plan/disclosure statement filing deadline from April 1, 2018 to May 8, 2018. As previously reported, "The Debtor intends to seek approval of a disclosure statement and confirmation of a plan of reorganization that will be designed to pay allowed claims and interests. The Debtor intends to utilize the proceeds of its business plan to allocate pro rata payments to its unsecured creditors, after paying priority and administrative claims in full. The Debtor intends to propose a disclosure statement and plan of reorganization based on appropriate projections with respect to its anticipated revenues over the course of the next three to five years. Debtor's current plan and disclosure statement filing deadline set at the December 14, 2017 case status hearing is April 1, 2018, subject to extension for cause shown. Debtor now requires an extension of the current plan and disclosure statement filing deadline based on three (3) material matters that remain incomplete at this time. The requested plan and disclosure statement filing extension will reconcile the plan filing deadline with the May 8, 2018 exclusivity expiration and allow the pending plan development matters to be brought before the Court.... Debtor is working to complete its Empire settlement toward eliminating a $1 million claim in the estate. A claim of that magnitude impacts overall plan distributions and plan structuring. Debtor believes that completing and proposing the Empire settlement for Court approval before filing its plan will avoid unnecessary plan amendments in due course."

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