A chance yes, but at what value (?) I have no idea. I was lucky in that I never bought enough shares (at $3, post R/S value, 2010) to really hurt me bad, and now the price is too low to sell, they are not worth selling, too few dollars left on the table (risk reward favors me holding now), so I may ride this one out. If it drops another 50% at the open tomorrow I may even double, or triple down for a short term trade, or bounce.
It will all depend on how much unsecured debt they had, and whether the court will swap out secured debt for stock with the DOE and US Treasury?
One thing is for sure, something of it will survive just keep the DOE from taking a 100% loss on the operating plant!!!!
They had about 70 employees doing sales (LOL) and R&D plus an overpaid CEO, so there is plenty of room to cut costs!!!!!
90% of the time, BK will wipe out all existing common shares. But there have been a few recent exceptions the last 3 years, but I suspect that will go back towards the norm of most wiping out the old common. Even YRCW's recent hail-mary pass did a 99% dilution of the common shareholders, while replacing most old debt with 99% new shares, where 48 million shares went to 4.8 billion (1:100 dilution) shares to wipe out a lot of old debt. Of course the company is worth more with out that debt, but it has yet to post a profit (it might post a profit with the debt gone now?).
One good thing is the low share count!
Right now it is more of a short term gamble, that anything else. I find it interesting that it is not already selling at .02/share!!!!
Ambition with out knowledge is like ship in dry dock. Going nowhere fast!
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