Applied Minerals Inc (AMNL)

[MasterSalix]

It was a company called BIH Corporation - we are going back like 15-20 years ago - but they were in debt, maxed out their A/S, had a deal to be acquired fall through, and their old CEO was re-hired after the current CEO simultaneously resigned. The new CEO was able to buy BIH's assets and added them to his private companies...then...of what I understand, the stock/ticker (shell) was eventually FINRA cancelled and the CEO then merged what was left of the company with some of his other private companies and took the conglomeration public again - I do not know much more, I think the later company went defunct, ultimately, too...I stopped following the whole thing a few years back.

Like I said, this wouldn't be exact, but could be similar, in the end....

I mean, let's face it, the only "real" asset AMNL has is the mine and it is not worth even close to $48M...it would seem to make a lot of sense, since the company is so upside-down, to just "throw the keys in the mailbox" and start over - only wrinkle is assuring the mine, ultimately, goes where they want it to - I am not privy to the information I would need to know exactly how to go about "moving" the mine to Ionic outside of the BK, but it is possible to do.

Like I said, just speculation, but if Ionic got the mine and can independently license the tech, AND be free of the huge AMNL debt going forward, AND all of AMNL's current employees can work for Ionic, why wouldn't that path make more sense than AMNL continuing to carry close to $50M in debt on its back???

Again, total speculation, and this would suppose Mr. Z is not a competitor, and he and Chris have a plan in place for this scenario to unfold. To answer your question, yeah, common stock would be wiped out in that scenario. Hopefully, for current shareholders, Chris has something better up his sleeve....

And all that may be compete conspiratorial BS, and I'd be the first to admit it is just speculation, but we have all seen some crazy stuff unfold on the OTC. I mean just having Mr. Z pop back up with a new company doing the exact battery stuff AMNL is pursuing, all while claiming to have the largest mine in the US, is very odd enough indeed...