Well, no big surprise, and, unfortunately, that's that. This move is to avoid the appearance of fraud, though that's exactly what transpired. By moving to liquidate now, with some money in the bank, they can say they tried to reorg, but it didn't work, so we're pulling the plug to avoid spending all the money.....well.....they spent millions and lined the pockets of bloodsucking attorneys and the so-called "turnaround" company, all for nothing. And, that crook Samara, in a transaction that can hardly be deemed "arms length", walked away with the only assets of real value....orbiting sats and spectrum licenses, for next to nothing, having bankrupted the company, obviously for his own gain. Fraud.
I feel bad for all shareholders, and especially MGTY1.
