Really? A company files chapter 11 for one reason and that's because they are in debt up to to their eyeballs, and can no longer pay their debt. Also I wonder where they are going to get the money to settle their debt. My guess will be the shareholders, through dilution. Hope I'm wrong but I doubt it. Plus chapter 11 will be on their books for the next 7 years as far as any future creditors are concerned. This will make it a little difficult to get financing in the future with decent rate, if any at all. So was this good news? NO. Was it bad news? I know one thing I am not buying GNPG again till either the price becomes cheap enough or they start to prove themselves to me. But that's just me and my opinion. Have a good day.
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