SC777 Tuesday, 03/03/20 08:09:01 AM Re: trader59 post# 375 Post # of 390 It happens literally all of the time, they're doing it to refinance their debt - PPS trades at a tiny fraction to true market cap because the market assumes bankruptcy is coming with no distribution to equity. Now that we know a balance sheet reorganization is coming, company will be healthy and equity getting 6%. Take a look at any other Company that has come out of bankruptcy - when it commences trading the market cap is always a massive multiple of what it was trading prior to bankruptcy. The rare thing here is that existing equity is actually IN THE MONEY. PESX had a market cap of $250-500M when it had a healthy balance sheet just last year.