Jackson Hewitt Tax Service Inc. (fka JHTXQ)

[Doubledown22]

Yes it does mean that the shareholders will be wiped out IF this Plan of Reorganization is fully executed as filed. The actual company will be more than fine as 90% of it's operations are conducted by Franchisees who actually own and operate the tax offices you see around the country. Nothing has changed with them in the thousands of towns across the US. The corporate headquarters does actually own some stores on its own but are very few in comparison to the franchisees.

That is what so disappointing about this whole scenario...Corporate got greedy and spent like drunken sailors and made poor decisions while the market was going good through tax seasons 2002-2008 and tried to borrow their way out of it and got into a bunch of unnecessary debt.

There is NO REASON why this company should be public. They don't need the market capitalization in order to operate...they successfully operated for years without being public.

You must be very nimble trading this and not buying and holding IMO. If the bankruptcy judge approves the POR in total...game over. There should be some major litigation before this all plays out but to be honest I'm not following it that close now but purely trading off of the chart only.

The best case is the major shareholders get an equity committee approved in order to represent the various classes of shareholders but you can't squeeze blood from a turnip. Just trade it with small lots unless you just like gambling.

All IMO,

DD22