Tuesday, February 18, 2014 6:48:50 PM
Everything hinges on Horizon because of their encompassing agreements with Cereplast. If Horizon remains steadfast and demands the sale of Cereplast's assets the Judge must honor those demands. It is clearly stipulated in the U.S. Bankruptcy Laws that Secured Creditors have full rights and entitlements over any wants and pleas of an insolvent, Chaptered company. Secured Creditors will only agree to a Reorganization IF the chaptered company has a viable business that earns enough revenues to continue operating with easier debt payments.
Cereplast gains most of their money from toxic debt to convertible share sales, and not from earnings. Since Cereplast has engaged lawsuits against two toxic lenders Horizon could successfully argue that any suggestion to the Court by Cereplast for Horizon to take stock in lieu of their loans is their right to deny.
So, as I see it the planned reverse split is a Hail Mary faint hope in case Horizon stands down or the Judge rules in Cereplast's favor to reorganize versus Horizon's demands for a Chapter 7 Liquidation.
In poker vernacular Cereplast has a pair of deuces and Horizon has a Royal Flush.
Scheer either has a new Financier in place NOW or the Judge will be compelled to rule in Horizon's favor for the liquidation of Cereplast's assets, and upon liquidation the Judge is then compelled to cancel CERP equity.
To bite the worm of incite is to bite the HOOK of the antagonist . They win .
Recent HGYN News
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 08:51:01 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/13/2024 07:49:03 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/13/2023 09:52:06 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 06:02:26 PM
Avant Technologies Engages Wired4Tech to Evaluate the Performance of Next Generation AI Server Technology • AVAI • May 23, 2024 8:00 AM
Branded Legacy, Inc. Unveils Collaboration with Celebrity Tattoo Artist Kat Tat for New Tattoo Aftercare Product • BLEG • May 22, 2024 8:30 AM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM