BenK, et al:
OK, accumulated deficits, if I understand correctly, is not the same as "debt", in the sense of creditors with $40 mill. in claims against Medizone.
Am I right about this?
Absolutely.
The stated debt at Dec. 31. 2008 is roughly $3.5 million
with cash spent and other assset figures meaningless. It depends on what a willing buyer will pay.
It appears to me the figures for debt are no better but that is up to legal authority.
In any case it is hard to see anybody but lawyers and judge cashing in with any buyer assuming all risk.
I had some notion Dodd had in mind a rescue but it appears now he just acted in, perhaps justifiable, spite by petitioning for involuntary bankruptcy.
All is lost for the good guys unless there is a tooth fairy and all my teeth are long gone.
Pity.
Best, Terry
