Zenergy Brands Inc (fka ZNGYQ)

[trader59]

No such fraud with this company has been cited as a reason for the bankruptcy nor the SEC case against TCA. TCA was charged by the SEC with cooking its books and defrauding its investors:

https://www.sec.gov/litigation/complaints/2020/comp-pr2020-110.pdf

The company failed on its own and despite the $2.6M secured loan by TCA that will have to be repaid. Don't believe that? Then read through the company's own filings with the bankruptcy court. The only thing they've mentioned that TCA can no longer do is finance the company out of the bankruptcy due to the SEC charges and conservator, and that's in their motion for an extension.

Here's more on why they went bankrupt, looks like they bought a bum business:

http://www.energychoicematters.com/stories/20191105urwvab.html

So no matter what this company is still losing money even before paying interest on its debt and has $8M of that debt to deal with before the holders of those 5.5B shares will see anything from the bankruptcy.