Semper Fi...
I'd love to see this company take care of its EXISTING shareholders but the reality of bankruptcy is that shareholders are last in line with their hands out. Last in line and often leave empty handed.
Will the market correct? Energy prices higher?
Yes, and I say that with certainty, am long energy.
The energy market will correct as we move towards a wet winter but it won't take existing SOGCQ shareholders with it.
SOGC will exit BK and thrive once their balance sheet shows improved debt structures.
If they remain publicly traded, they'll issue new shares BUT MUST cancel existing shares to do so.
Will existing shareholders be offered new shares? It's probable...BUT if one new share is valued at a dollar... Then it'd take 50 of your shares to equal ONE new share and THATS ASSUMING you're offered face value for the shares you're holding (not probable).
Hope they announce an exit and before the details come out that the share price surges and sell.
That's what I'm waiting for...but I have a super low cost basis so I only need a few percent to break even and any real share price rally will make me some good money before I sell.
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