KONAQ will no longer exist - the ONE group bought certain ASSETS of the company out of bankruptcy. I assume you are recommending STKS (One Group Hospitality - the buyer) and not KONAQ (a bankrupt shell with more debt than asset value).
From their latest (10/15/19) filing (8-K)
As a result of the Asset Sale, the Debtors have sold substantially all of their assets. Accordingly, the Debtors have ceased ordinary business operations. After ceasing business operations, the Debtors expect to engage only in the liquidation of their remaining assets, and the winding up of their affairs, and, where feasible, dissolution under applicable state law.
No portion of the proceeds of the Asset Sale will be distributed to holders of its common Stock. Instead, all such proceeds are expected to be applied in their entirety to the costs associated with administering the Chapter 11 Cases and reducing the amount outstanding of the Company's senior secured indebtedness under the Second Amended and Restated Credit Agreement dated March 9, 2018, as amended, among the Company, the lenders from time to time party thereto, and KeyBank National Association, as administrative agent, which was rolled into the Company's financing facility (the "DIP Financing Facility") that was approved by the Bankruptcy Court.
Furthermore, the Company does not expect to be able to distribute to holders of its common stock portion of the proceeds of the liquidation of any of its remaining assets, which are insufficient in value to permit any such distribution to stockholders after first being applied toward the reduction of the Company's DIP Financing Facility and administrative expenses of the Chapter 11 Cases.
Having ceased ordinary business operations without assets likely to be sufficient in value to make any distribution to holders of the Company's shares of common stock, the Company advises its stockholder that the trading prices, if any, for such shares may bear little or no relationship to any future distributions and that such shares may not have any value. Trading in shares of the Company's common stock poses high risks and the Company urges extreme caution with respect to existing and future investments in its common stock.
