Nine out of how many? At one time, there was probably more than 5000 over the counter OTCBB and "pink" sheet "over the counter traded" companies. Most ending up there because of being on the verge of bankruptcy, out of cash, no assets, unable to meet the minimum status to remain "listed" as set forth by either major exchange, many just empty shell companies with no business at all, etc.
So, to site 9 companies- what does that really mean? Lets be generous and say that the total OTCBB has declined (tighter regs, crack downs on old ways, IPO/public company decline in general) and lets say there was/is about 2000 companies at the time of the 9 cited.
That would mean that those 9 represent about 9/2000 = .0045 or about 4/10th's of one percent of the "penny world" of penny stocks. Hardly a significant data point IMO.
Further, I believe if you read that- all but one of those 9 were major players at one point who then fell on hard times- usually due to bad mgt, major poor biz decisions, etc. In other words- most, if not all of those 9 has sales well in the $100's of millions if not more at one point, were highly profitable, had significant assets like plant, property, inventory, equipment, etc.
None (perhaps one cited) came from little or no cash, and essentially no assets and a price of pennies and then became large. It was the opposite. They were large, had a lot of sales, were once profitable, had a lot of infrastructure, filed for BK or closely approached BK, then re-emerged, rebuilt their businesses and then re-emerged successful once again. 4/10ths of one percent of the "poo" of penny companies.
Statistically, just well documented by the SEC and many others- any stock that gets to true "pennies", as in 50 cents or under say, or lower- is highly likely to end in BK or total dissolving of the business. Just reality and well studied/documented. Companies end up "un-listed" and on the OTCBB or pinks for a reason. And it's not cause things are going well or that they are financially healthy. Just the reality of it.
So, not sure what the relevance of citing 9 "unusual", what most would be considered extreme "outlier" data-points, or examples is, IMHO? Don't see any connection to BHRT's situation whatsoever IMO? None.
