I've been following this stock for the better part of a year, through all its ups and downs. I originally got out at $0.19 and intended to wait until it reached $0.03 due to Fong's inaction. I never imagined, however, that he would crash the company into a BK.
If the documents that were recently filed clearly indicate (as they do) that liabilities > assets, then where do you see any viable remaining "trade" in this? As soon as debtor's counsel indicates to the judge that the plan calls for an SH wipe, the PPS is going to instantly tumble into the double zeros. That would appear to be a certainty here due to the fact that the SHs have no legal representation before the court. In effect, they're represented by debtor's counsel ... and the debtor has repeatedly gone out of its way to show nothing but contempt for the SHs. Why would it now change its stripes?
Am I missing something here?
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