If the shell looks like nothing is going on through the courts, you might want to not be holding shares. DE plays like this are a prime example. But I love the SS here.
Shells in Bankruptcy
Maybe ones with maxed out A/S
Most of synergies I’m willing to hold into the grey sheets if the float is low.
I spoke with Ben. An extra $10-25k is not bad for a good clean shell to clear delisting hell. It’s just an extra cost. No big deal.
But one with a blown multi Billion A/S, unpaid taxes, no T/A, unconverted debt? Toast till the end of time.
I think it will thin the pool of R/M players. Guys like Ben will rise to the top.
Good Shells will become even more valuable like IHAI types.
Delaware and Texas shells got me nervous.
And always remember this. A shell can not convert old toxic debt notes while under delinquency.
If a shell knee jerks to get off the greys, it opens up those one notes to legally be converted..by law. Those note holders can sue. Adds a long legal court drama.
It’s why is a good thing to have a shell today with the stop sign till the R/M goes through. Allow the New Co to bring it current.
Best to go back and read those old 10ks to get a hint of old unconverted debt. Those shells are as good as dead forever. And I mean the ones in the $300k+ and above notes. $10-20k notes can be negotiated with a level head.
Float # x Price is below $500k-$1mm I’ll hold past Aug 28th
This is what I’ve been stewing over.,
I like CERX’s last 8k after they dropped the Form 15. It looks like they washed the Company out with the second R/S. 5mm O/S is nothing. If you read the last 10Q it said “LIFE” owned 57% of the shares. Retail 43%
I’d assume that same 57% owns that portion of the 5mm OS today. Hell they voted for the storm 15 and R/S it’s probably who Ben is dealing with behind the scenes. Who are they? They probably have no clue who to bring one if these back to life and park a New Company story in it. All old Preferrd share warrant expired years ago.
Float must be around 2mm. WOW!
https://www.otcmarkets.com/filing/html?id=9174798&guid=pnXUkaTrf7nAFth
See, I’ll hold this one into the delisting limbo. No more than $2k of my money.,
It she runs hard between now snd Aug 15th, I’ll get some of my cash out. I’m definitely loading on the BID niw, flipping above 60% for free shares. But no volume and a 100% spread with no sign of news potential? I ain’t getting anything.
I’m not slapping with other Synergy plays popp’n every week.
This second guessing is part of the game.
To me it’s way more fun than casinos.,
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