Capital Growth Systems, Inc.(fka CGSYQ)

[Redlegs]

Found some interesting stuff in the latest 10Q!

Magenta net Logic, Ltd was excluded from the voluntary bankruptcy of Capital Growth. They are a subsidiary of Capital Growth.

10Q states:

On July 22, 2010, the Company entered into a Plan Support Agreement (“PSA”) with certain holders of its debentures. Upon entering into the PSA, on July 23, 2010, the Debtors filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code. The Debtors excluded from the bankruptcy filing, its wholly owned United Kingdom subsidiary, Magenta net Logic, Ltd. The Debtors have operated their business as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of Chapter 11 and orders of the Bankruptcy Court and will continue to do so until they emerge from Chapter 11 bankruptcy proceedings, as described herein.