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Posted On: 10/28/2022 10:39:27 AM
Post# of 36541
"If the corporation’s stock is liquidated in a Chapter 7 filing, there is never a “Q” assigned to the ticker symbol. Rather the stock is liquidated and secured creditors are paid outstanding monies first, followed by unsecured creditors, bondholders and preferred shareholders. Common stockholders are paid last, and in most cases, there will not be any funds left to pay back outstanding shares. Consequently, the investor is oftentimes left holding the bag on his investment."
"Corporations filing for reorganization under Chapter 11 bankruptcies might retain their existing stock, but are generally "delisted" from major exchanges and are forced to trade on the secondary markets. A “Q” is added to the end of the corporation’s stock ticker symbol to indicate the company is in bankruptcy proceedings. Current stockholders might either attempt to sell their shares in the secondary markets, or ride the storm out, hoping the company and its related stock regain profitability."
Would this mean that Generex is in chapter 11 bankruptcy instead of chapter 7? This would be a glimmer of hope for us shareholders, right?
"Corporations filing for reorganization under Chapter 11 bankruptcies might retain their existing stock, but are generally "delisted" from major exchanges and are forced to trade on the secondary markets. A “Q” is added to the end of the corporation’s stock ticker symbol to indicate the company is in bankruptcy proceedings. Current stockholders might either attempt to sell their shares in the secondary markets, or ride the storm out, hoping the company and its related stock regain profitability."
Would this mean that Generex is in chapter 11 bankruptcy instead of chapter 7? This would be a glimmer of hope for us shareholders, right?
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