Gale Force may come out of this bankrupsy procedure but dilution will be enormous. Under the current set up, the shares would be valued under .005 as new equity financing and debt restructuring would largely be met by issuing shares.
Following all this, assuming it is approved, GFP would then go into a 50-1 reverse split, bringing the shares to about .25, if it holds, and the new warrants exercisable at $2.50 (not .25 as per the PR, imo.)
Why would there be investors ready to pay .01 now and why is there no one to sell at that price? I can't explain; hoping somebody does,
g.p.
