Have you seen their most recent balance sheet? Shareholders Equity is a NEGATIVE $3.925 billion. That means, even assuming the assets are valued at 100% of their current worth (which they are not), shareholders are still almost $4 billion in the hole.
Shareholders are always dead last in line in a bankruptcy. In order for shareholders to get a penny, every single creditor and debtor in front of them has to have their claims 100% satisfied. With Endo, they are billions short of achieving that, which means debtors and creditors are likely to take a haircut on what they are owed, and shareholders get nothing.
That is how bankruptcy works.
The current plan is for the first lien creditors to take over ownership of the company and all its assets, with everyone else getting shafted. Common shareholders are so far down the list they haven't even been recognized by the Court because the Court knows their is really no chance they will get paid.
Recent ENDPQ News
- Form 8-K - Current report • Edgar (US Regulatory) • 03/06/2024 09:54:16 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/02/2024 09:51:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/29/2023 09:01:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/26/2023 10:18:28 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/30/2023 09:01:41 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/06/2023 10:04:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/06/2023 09:57:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/02/2023 09:12:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/08/2023 08:01:38 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/01/2023 08:44:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/15/2023 09:22:28 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2023 04:19:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2023 11:50:01 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/29/2023 08:30:53 PM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
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