I have to say, those new court docs that Chuck pointed out, clarified a lot of things. This company is of no value if it's broken up and the creditors see that they'll get more money if they get it back up and running, which appears to be the main reason why it wasn't liquidated via Chapter 7.
The CEO has done a good job at getting funds to maintain and secure the existing equipment and leases. My only concern with it would be whether or not the commons are kept or thrown out.
I've seen too many shareholders of BK companies, even with an EC group, that were left out by the fat cats convincing the judge to not retain commons. Looks to me there's no strong evidence other than the typical weak argument of "look at all those insider shares, they won't cancel!" which you often hear in BK Q stocks that end of being cancelled with loss of value to current shareholders.
HoboTrader
