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NY73

07/05/11 10:27 AM

#3565 RE: MGTY1 #3562

Generally, contracts have bankruptcy provisions to protect each company from having to deliver on a contract with a bankrupt company, which is either going to go out of business, or is severely restricted in operating due to BK. So, regardless of proof, just look at any run of the mill contract and you will see provisions to deal with bankruptcy. As far as wrspq struggling....that struggle ended when they shut down India operations and layed off everyone. Who's struggling? The lawyers and Schmitz? I don't think so. All that remains is an office, some cash, perhaps the old sat in a shed....and the potential savior: NOLs on their books. That's it! There's no struggling entity. It's Schmitz and probably an office worker cutting checks to themselves and a bunch of lawyers. Just look at the financial reports. There's no income, no other employees, nothing. So, one can speculate about Fiat, Ondas, GM, Liberty, Siri, you name it. Doesn't matter. This boils down to an accounting maneuver, hopefully. Who will want those NOLs? If no one, buh bye wrspq. Let's hope someone wants them! That's our only hope.