The trustee confirmed that although he is officially part of the Ch. 7 process, he can issue a recommendation that the Ch. 7 be deferred in favor of the Ch. 11, if in his estimation there seems to be a reasonable path for the Company to stabilize, i.e. enough cash.
Ed and his partners have enough cash to stabilize the company via the 200K just loaned, but they don't want to do it that way. They want to screw the shareholders and have the company for themselves
I have heard from him in the past how he feels that leaving the shareholders out in the cold would be "immoral and unethical".
Well we will soon see how he feels cause Ed has a path to own the company free and clear.
Or we can explore the possibility that somehow we can gather enough resources from the shareholder base to convince the trustee that there is a fighting chance through reorganization.
Talk to Shannon about it, maybe he can convince Ed and his cronies to pony up that 200K to help convert the chapter 7 into a chapter 11 instead of the route they are currently taking.
After all Shannon will be working for the immoral piece of @$%^. He ought to tell Ed to go pound sand. Ed would be clueless without his guidance and no other scientist in his right mind would work with Marshall based on running the company into the ground, not once, but twice.
As for "Florida", the main individual of that loosely defined "group" sold most of his shares a few years ago.
of course he did, bet he got rid of them during the 4 dollar a share by May pump and dump.
