VMSYQ - guys take a few minutes today to check out this BK play - if no objections are filed by the creditor by EOD today with regards to the buyout offer there is a good chance the commons will be saved - this company has been under Chapter 11 BK protection for a year which allows for reorganization and allows the company to operate while BK proceedings are happening - this is the final extension so the big day is finally near - CEO has over a mill invested personally - and the buyout company is actually a shell with the initials VMSI - which would be pretty convenient for them to continue trading using the VMSY symbol once/if they emerge from BK.
Current PPS is .008 and this company traded at .05+ before entering BK – play with caution as there is still potential that something will happen and commons will be cancelled - but in doing some DD I believe the risk vs. reward potential here to warrant letting yall know.
No objections = HUGE. There is no reason to liquidate assets to pay creditors because assets are minimal imo. The buyout is very likely. With no objections, the hearing is at the end of this month, at which time the BK will be over. GLTY
Cheers
Maxima Enim Patientia Virtus
(The greatest virtue is patience)
