Orbit Brands Corp. (fka OBBCQ)

[shane67]

There appears to be a new bk status report filed with the court on Pacer at the Central District of Los Angeles Bankruptcy Court document management website. It is in pdf formate, so I'm unable to post it here, but this is the basic details of the report. It states the company is attempting to work their way through the BK process. A 45 million tax loss credit of some sort is the company's incentive to work through this BK process. The company has SEC, and BK hearings coming forward next week, I believe on Aug 23rd. The company has limited money, and currently trading on the grays at this time. The company will be meeting with the creditors committee nexk week to try and work out some type of deal, I would imagine. This is a huge process, and will take a great deal of work to finalize something for the company to move forward. It appears Joe is working extremely hard to pull this off. Will be interesting indeed. This is my opinion only. Texas Hold'em Boys. Good luck.