(Total Views: 550)
Posted On: 07/24/2022 10:34:11 AM
Post# of 36568
It is possible that a “big” corp was/is interested in Generex, but…
"Under Chapter 7, the company stops all operations and goes completely out of business. A trustee is appointed to "liquidate" (sell) the company's assets and the money is used to pay off the debt, which may include debts to creditors and investors."
https://www.sec.gov/reportspubs/investor-publ...pthtm.html
Now with a rudderless ship, after the CEO/captain bailed and swam to shore, there is no one available to steer the ship in the direction of a Chapter 11 where it could either be repaired (reorganization) or sold complete “as is” to a buyer. Instead, our ship (GNBT/NGIO) will be “blown up” with the scavengers “cherry picking” the pieces.
"Under Chapter 7, the company stops all operations and goes completely out of business. A trustee is appointed to "liquidate" (sell) the company's assets and the money is used to pay off the debt, which may include debts to creditors and investors."
https://www.sec.gov/reportspubs/investor-publ...pthtm.html
Now with a rudderless ship, after the CEO/captain bailed and swam to shore, there is no one available to steer the ship in the direction of a Chapter 11 where it could either be repaired (reorganization) or sold complete “as is” to a buyer. Instead, our ship (GNBT/NGIO) will be “blown up” with the scavengers “cherry picking” the pieces.
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