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ByloCellhi

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ByloCellhi

Re: Paul P post# 16978

Tuesday, 11/08/2005 3:02:00 PM

Tuesday, November 08, 2005 3:02:00 PM

Post# of 53798
Paul

I guess you do not know the bankruptcy laws. The company has negative networth and no cash. So the company is worth nothing dead. This is why banks and commercial companies assign credit based on tangible net worth so if something happens they get their $$$ back when/if push comes to shove and a company is dissolved. If the company filed chapter Xl then the stock would drop to nada and they would get almost nothing. Plus the leaseholders are unsecured creditors so they would have been the last to be paid.

The leaseholders had no choice - so much for L Kelly paying them in full which is what many thought he would do.

You take care


These are my personal comments, observations, opinions and should not be relied upon for any investment decisions, and as always read the SEC filings for the facts of the company

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