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Post# of 63388
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trader59

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Re: cash4 post# 8655

Sunday, 04/05/2020 11:10:05 PM

Sunday, April 05, 2020 11:10:05 PM

Post# of 63388
What, exactly, "remains to be seen?" The company has filed a plan with the bankruptcy court to liquidate the assets. The "stalking horse" bid is for $500k. The company's debt is greater than $10M. In order for shareholders to see any sort of recovery, all the debt has to be paid and it will not.

The company listed the asset value for the things being bought as about $900k, so there will be no bid greater than that. The common stock of this company is toast.

The secured creditors may object if they see some sort of ruse going on, but the limit of their interest is the debt they are owed. They don't care about shareholders, either.

I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.

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