There was a ton of volume below .02 - I'd hazard to guess that many are quite happy to take a 3 to 5 bagger and move on no questions asked. Personally, I think the stars may be aligned on this one where the interests of those at the table, namely Berg, happen to coincide with equity. I don't believe that was true at the outset of the case - but I do believe it is now. Valence/Berg is open to new money coming in. If the business/IP is truly worth a small fortune, the framework of bankruptcy will work to protect shareholder interests. If it isn't worth much, then it's a big zero at the end as it should be. At the beginning of the case, the company was not open to new money and it really looked like Berg was going to snake it all via a lowball valuation. Don't know why that changed (I have a few theories, but they are just that), but it did change. I don't think its surprising that there is a bit of an overhang here given where this has traded ever since end of last summer. I'm holding right around 4 mm shares with an average cost around a penny - plan for now is to let all ride....you only live once right and stars don't align so well all that often anymore. imo
