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leucro

06/20/10 5:17 PM

#323234 RE: patchman #323229

Those are all allegations yet to be proven in the court of law. Of course in the case those allegations prove to be 100% accurate, then yes the challenges would be extremely dire. However, do you not think that it would be beneficial to all parties owed money to, if the company did not liquidate? If they liquidate as you and I both know, they would only be able to settle an average of 10% all debts. Is it not more reasonable to assume, given the stripping of all financial rights to SPNG executives that most if not all debts could be settled if it remains a going concern? Even if later it ends up in chapter 11 or 7, at least the company and its shareholders are given an opportunity. This company has individuals invested in it with much knowledge and resources, where we can help the company flourish and hell, for good reason since much is at stake.
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Fire Lane

06/20/10 6:44 PM

#323268 RE: patchman #323229

thats correct. a receiver wont issue stock for financing. the receiver will instead liquidate the assets ( dicon) shareholders will receive nothing as shareholders are the last to recover