DigitalTown, Inc. (DGTW)

[trader59]

Everyone should download and read the filing of the US Trustee. The Trustee is independent and works on behalf of the court. The information in the motion just posted is fact, the company has no operations whatsover, hasn't had any for 5-6 years, no assets, no money, no employees, nothing. The company has done nothing since the bankruptcy was filed towards re-starting the business, and even the term sheet for $5M remains unsigned by the parties.

Regardless of which way the judge's ruling based on "legal" goes, this company has been dead for quite some time. The whole POR proposes to attempt the same sort of operations that failed while taking cash from a toxic lender for discounted stock and paying themselves while the toxic lender profits by selling the stock into the float.

There's not that many blocks of shares the convertible note holders were given at trips or below that have not yet been held the required year. Auctus fund has 122M and EMA financial has 100M, to be unrestricted later this month and right after the first of the year, respectively. The others have likely cashed out with all that stock that became unrestricted prior to the bankruptcy filing: