Replies to post #16977 on Kentucky Energy (fka QMIN)

[Anvil]

Buckster:

You may want to read this. It is from the most recent 10Q. Creditors are being promised QMLM stock and repayment. How can they offer repayment when the mine is closed?

If the bankruptcy court rejects Gwenco's petition for bankruptcy under Chapter 11, we would be have a material impact as would lose all of its working assets and have only unpaid liabilities. Accordingly, the court could convert Gwenco's petition to Chapter 7 and liquidate all of Gwenco's assets. In addition, we might be forced to file for protection under Chapter 11 as we are the primary guarantor on a number of Gwenco's contracts"