Capital Growth Systems, Inc.(fka CGSYQ)

[Rustler]

Why do CGSYQ shareholders so quickly dismiss the choice you list as No. 1? It makes little sense to eschew that very real possibility.

Where a company trades its stock on a public exchange, a Chapter 11 bankruptcy filing generally results in the stock's immediate delisting from its primary stock exchange (e.g., NYSE, AMEX)…. The stock's ticker symbol changes too – the infamous identifying fifth letter 'Q' at the end of a stock symbol indicates the company is in bankruptcy. Many delisted stocks quickly resume listing (and become extremely high-risk trading securities) as over-the-counter ('OTC') or 'pink sheet' stocks. In the overwhelming majority of cases, the company's Chapter 11 restructuring plan, when confirmed, terminates the company's publicly traded shares, rendering all common shares invalid or valueless.

See, e.g., J. Swanson, et al., Kirkland & Ellis International LLP, A Practitioner's Guide to Corporate Restructuring (2008 1st ed.); see also U.S. Securities & Exchange Commission, Investing in a Bankrupt Company: A High Risk Venture (using the GM bankruptcy – in which common shareholders lost everything – as a model for discussion) at http://www.sec.gov/investor/alerts/bankruptcygmalert.htm (a/o) May 13, 2011.