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trader59

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Re: megabandp post# 10425

Monday, 04/19/2021 9:26:15 PM

Monday, April 19, 2021 9:26:15 PM

Post# of 13959
This is chapter 7, and it is far from over. Chapter 7 is liquidation and shut down of the company, period. They sell off everything the company owns, collect everything that is owed to the company, and pay off as much debt as those proceeds will cover. The common stock doesn't get "saved" in that scenario. They'd be entitled to anything left over if all of the debt and superior claims are paid. That is very uncommon.


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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