Replies to post #26898 on AmeriResource Technologies Inc. (fka ARIOQ)

[I-Glow]

He has extinguished the debt - he can do a reverse merger with Payroll funding in a clean shell and start a new scam.

I just posted about a recent corporate bankruptcy - Miller Energy (MILLQ) and that is exactly what happened.

In March 29 filings with the Security and Exchange Commission, the company reported that under the agreement with the court, all shares of Miller Energy common stock and other equity and securities are terminated. In a form 8-K filing, the company said that the reorganized company had secured up to $20 million in exit financing with Apollo Investment Corp., plus an extra $20 million in incremental term loan financing.

Also on March 29, the reorganized company issued 10 million shares of new common stock, at $0.0001 per share to the secured lenders. Apollo Investment Corp. and other investment funds managed by Highbridge Principal Strategies hold 100 percent of the new notes and new common stock, and therefore control the company, according to the 8-K filing. Don Dimitrievich and Jeffery Fitts, both of Highbridge, were named directors of the new board.

The MILLQ ticker was delisted or deleted - the shares issued to Apollo and Highbridge aren't trading.

It will be the exact same for ARIOQ.

IG