The common stock may be worthless (though that's just an opinion), but the company has some assets, particularly if the $300k lender put money in after the last filing.
I'm not sure how it works in LW's bankruptcy, if his filing gives him any more rights to the company's assets than any other creditor. If so, then I can see the court forcing the company to liquidate to pay LW back whatever they can. If not, then a liquidation would be less worthwhile as all creditors would get only a small fraction of their money back. In addition, the $300k lender's collateral seemed to include all the assets of the company.
I still don't imagine that anyone else is going to take up the reins and work for stock or deferred payments though and I can't imagine how anyone would put money into the company without a creditor of the company or LW taking it right out.
All of which leaves me thinking the common is pretty much worthless at this point. Of course as always, MHO.
Market Data 
Markets 
AI
