This is just my experience from many Q plays 08-09 era. What I see as the problem is regardless of restructuring/ new debt is the lack of assets, revenue and current crude prices/market. There best bet is to cancel commons and preferred in order to raise new capital but getting out of the OTC even with a low OS looks bleak. I agree , the market will set the preliminary bottom but the broker/dealers are totally in charge of the commons now so they will accumulate and run when they are ready. Very rarely will anyone know at this point whether the commons/preferred will be cancelled. With larger asset/rev based Cos there is usually some type of payout to old shareholders in cash over time but it’s very minimal. Unless your in at this level pps, but I don’t see this happening with hoss.
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