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Posted On: 07/20/2022 10:36:52 AM
Post# of 36568
Nothing (much) will be happening for the next month.
07/20/2022 38 Order Granting Motion to Extend Time to File Required Documents and Schedules. Deadline: 8/23/2022 (Re: # [35]) (Grooms, Desiree)
https://www.bkalerts.com/recent-bankruptcy-ca...ology-corp
Bankruptcies, like much litigation can be a slow process. But this could be a good thing, since it looks like the litigation will be comprehensive.
Interesting note:
The Petitioning Creditors are:
Three Brothers Trading, LLC
GS Capital Partners, LLC
Beijing Youfeng Biological Technology Co Ltd
Bedford Capital Group, LLC
Oasis is not among the list, yet they were the ones that intervened at the beginning to prevent a “smash and grab” instigated by the Three Brothers Trading. Oasis will have the greatest benefit if Generex can exit the bankruptcy still as a going concern and execute the NuGenerex IPO. If Joe did not give us a complete “snow job” on Generex’s value, then the company’s value should outweigh the creditors debt. The problem is the lack of liquidity and how the debt would be paid. I am ever the optimist, the odds of success are in the Mega Millions range, but the numbers have yet to be drawn. So our lottery ticket (GNBT stock) is not fire kindling yet.
07/20/2022 38 Order Granting Motion to Extend Time to File Required Documents and Schedules. Deadline: 8/23/2022 (Re: # [35]) (Grooms, Desiree)
https://www.bkalerts.com/recent-bankruptcy-ca...ology-corp
Bankruptcies, like much litigation can be a slow process. But this could be a good thing, since it looks like the litigation will be comprehensive.
Interesting note:
The Petitioning Creditors are:
Three Brothers Trading, LLC
GS Capital Partners, LLC
Beijing Youfeng Biological Technology Co Ltd
Bedford Capital Group, LLC
Oasis is not among the list, yet they were the ones that intervened at the beginning to prevent a “smash and grab” instigated by the Three Brothers Trading. Oasis will have the greatest benefit if Generex can exit the bankruptcy still as a going concern and execute the NuGenerex IPO. If Joe did not give us a complete “snow job” on Generex’s value, then the company’s value should outweigh the creditors debt. The problem is the lack of liquidity and how the debt would be paid. I am ever the optimist, the odds of success are in the Mega Millions range, but the numbers have yet to be drawn. So our lottery ticket (GNBT stock) is not fire kindling yet.
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