BK dismissal was for involuntary Chap 7 filing only.
This is basic stuff really. Anyone who understands what BK and Chap 11/7 relate to understands these are separate matters that don't involve the court.
How you mix up the Court and a involuntary filing with actual fall from double digits took place around the release of the 10Q nearly a month earlier on Nov 19 which was before the Court was even involved is a bit perplexing.
The market and shareholders lost faith in this company well before bankruptcy filing.
Unless the company shows better business, the bankruptcy dismissal really was just a legal issue that should not change the fact that this company is, and was, losing money badly before the Court was even involved .
Ask yourself why at least three more creditors, that had nothing to do with the ex-CEO and his breach, filed a joinder to the involuntary petition ?
Because this company legitimately owes them money they have not paid , and not knowing the petition to be fraudulent, saw it as a way to recover the legitimate funds LUXR has been stiffing them for.
That's not good...it means LUXR has not been paying legitimate creditors either before the filing. And before the Court was even involved
On top of poor performance, debt, and future legal expenses, they are diluting in order to raise capital.
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