Protagenic Therapeutics Inc. (PTIX)

[Kapla]

Shareholders may still get paid!

It seems by the wording of the announcement that the plan has already been completed and reviewed by "Senior Lenders" - Those people who would have to agree to any settlement.

Then the mention at the end of the statement "redistribution of the assets and equity to creditors and existing equity holders" - That is us folks and it insinuates that there is EQUITY to be distributed after the senior lenders are paid.

See below for part of the statement that matters.

The Company, just prior to the Chapter 11 filing, entered into a Plan Support Agreement with its senior lenders which will result in the filing of a plan of reorganization, on or before June 30, 2012. Such plan contemplates a redistribution of the assets and equity to creditors and existing equity holders.