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Post# of 346953
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overachiever

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overachiever

Re: scion post# 327030

Sunday, 07/25/2010 10:34:28 PM

Sunday, July 25, 2010 10:34:28 PM

Post# of 346953
The fools just do not get it. Shareholders have last priority in a bankruptcy. The claims of the creditors and how to satisfy them are given first priority and are the primary consideration of any bankruptcy proceeding.

In the case of Spongetech, current shareholders will be left with nothing even if by some miracle, the company is reorganized and allowed to continue operations.


We are apt to shut our eyes against a painful truth... For my part, I am willing to know the whole truth; to know the worst; and to provide for it. --Patrick Henry, Patriot and Hero of the American Revolution

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