lol. bankruptcy usually wipes out common shareholders. frpq is an example of that. the bondholders and secured creditors generally get the company or cash.
BUT.. take a look at VRLM.. a rare exception. went from .02 to 25+ in a few days last september. the shareholders didn't get wiped because a large drug company had bought controlling interest and the judge wouldn't let the common get wiped.
i think the difference is in how the debts are secured, but it is a very risky investment.
i flipped frp. bought at 11.00 and sold at 17.00. then bought frpq at .034 and sold at .08.
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