Replies to post #1150 on Adzone Research, Inc. (fka ADZR)

[harr449]

This is the 2nd CEO I've seen file for Chapter 7 this yr.

Both filed for Chap. 7 because someone filed a lawsuit against them.

Neither shows any assets to speak of (savings, jewelry, etc.) in their bankruptcy petitions. They both have large credit card debt. If I were a judge or US Bankruptcy Trustee, I'd seriously question how they've survived over the last 5 yrs. w/o significant income.

C. Cardona's house on Long Island (NY) could be worth close to $500K. Property and school taxes have to pretty high. Also, he does or used to own a yacht for sailing on the Peconic Bays. His bankruptcy filing shows $800/month car payments for his car and $700/month for his wife's car. How do they pay for these expenses?