I noticed a couple of interesting things about part of the BK filling as quoted below:
"... It is also anticipated that the Issuer's common stock will cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association and may become eligible for termination of registration under the Securities Exchange Act under Section 12(g)(4) thereof as a result of this transaction or under the plan. Neither PGC nor any of its affiliates, at this time, intend to acquire any additional securities of the Issuer. PGC does not intend to convert any of the debentures or exercise any of the warrants to acquire the Issuer's common stock ..."
1. "... It is also anticipated ...". What this means, to me, is that no firm plans have been publicized indicating that the common stock WILL be "retired" and therefore, rendered useless. However, such plans COULD have been publicized in the BK documents. But, it wasn't stated that way. Why?
2. "... at this time ...". What this means, to me, is that at the time this was written, there was no plan to acquire anymore CGSY stock. But, what if things change between then and now? A much more firm and clear message could have been stated in the BK documents CONFIRMING, FOR SURE, that no such action WILL be taken. But, it wasn't stated that way. Why?
Well, some will say that it's just BK speak and what they really meant was, well, CGSY stock IS toast, pure and simple.
Others, including myself, aren't at all sure about that. Why?
Well, my hand's getting tired, so I'll have to try to answer my own question in another post.
So, for those interested, Stay Tuned . . .
