Oh my god!!! How many lenders are banging down the door to lend money to a company in bankruptcy?? There are few and their terms are not very advantageous.
Fractional shareholders- read the box right next to it. That's all common shareholders which means you. Then look at the box at the end..all shares will be extinguished with no value.
Whoever made the comment about the attorney giving inside information. That's the funny part. Everything he said is right in front of everyone's faces, you just can't understand what you're reading.
Why would they extinguish fractional shareholders only? So the guy who has 10,500,000.33 shares gets extinguished but the guy with 2000.00 doesn't? That makes sense. They extinguish shares to pay off debt. Cancelling a fraction of a share would net them nothing. Use your head.
They have written it perfectly in their forms. Easy to see once you know what it all means. They are NOT going private. They are cancelling out all the shares. Then they will get approved for the bankruptcy. Then they will pay as much debt as they can and make payment terms with what's left. Then they repurchase shares from FINRA/SEC and offer them to the public once everything on the bankrupt side is completed. These current shares are trash. #truth-bomb
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