Replies to post #13221 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[Gunga Galunga]

I remember a lot of this same talk with Sears. Then it ran to $3.00 and everyone made life changing money. If anything like that would happen, it would take years. make money now :)

[thelionwarrior]

Yes old shares would be worthless. The only way old shares are worthless is if they cancel the old shares. It goes on to say the issuance of New JCP stock. If it were just going to be created and not issued to people then it would just be the creation of New JCP stock. The only way to issue new stock and make the old stock worthless is to cancel the old stock and issue the new one. Otherwise they could issue new stock and still continue to let the old JCP stock trade which would mean it's not worthless. It would be worth trading value

[ARanger51]

That already happened... JCP is now JCPNQ - JCP was cancelled, and shareholders received an equal amount of JCPNQ shares

You clearly don't understand how BKs work... But this should be a great learning opportunity ;)

And buckle up, this is going to be one helluva ride! See SHLDQ Feb 2019 for what is likely to happen here...

GLTA

$JCPNQ