DigitalTown, Inc. (DGTW)

[trader59]

Well, you know that Chapter 7 cannot be undone and results in the liquidation and shut down of the company. This trustee already suspects a pump and dump was run, so will likely cancel the stock once he's done.

I think the scam started with the Chapter 11 filing. That followed a period where the toxic lenders who'd tanked the stock to $0.0001 to begin with had converted a lot of their loans into dirt cheap stock. File Chapter 11 with a battle cry of "save the common stock" and sell into it, and they made a mint doing it. Paying the company lawyer to go through the motions in Chapter 11 was a small price to pay, and if he happened to win, yet another toxic lender was set to sell discounted stock in the aftermath.

Why would a company proposing to continue operations lead in with a pumpish headline to their Chapter 11 filing? Why would a company that was dead for 5 years pop up all of a sudden to file bankruptcy in the first place and have to address all the debt with 3B shares in the O/S owning nothing?