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Alias Born 02/11/2010

Re: drsandcrs post# 1100

Tuesday, 03/09/2010 2:24:03 PM

Tuesday, March 09, 2010 2:24:03 PM

Post# of 3162
I agree. The tough concept for some people is that, rather than being merely worthless, if the amended Plan is approved, the current shares will be non-existent. Even if the current shares happen for some reason to be trading at many multiples of today's price, on the effective date of the Plan (if approved) the current shares will not exist legally. There will be no shares for current holders to sell. As I understand it, those current holders who hold a sufficient quantity of the current shares will then be allowed to ante up a minimum of $50K to buy newly-issued shares of a new issue. This is not a stock play. It's playing chicken against the risks of not being able to sell out in time, or the bet that the Plan will not be approved at all. Only legal bankruptcy experts need apply.
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