I read this: Under Chapter 7 bankruptcy, all as
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Posted On: 04/27/2022 4:26:53 PM
I read this:
Under Chapter 7 bankruptcy, all assets are sold for cash. That cash is then used to pay off legal and administrative expenses incurred during the bankruptcy process. After that, the cash is distributed first to senior debt-holders and then unsecured debtholders, including owners of bonds. In the extremely rare event that there is still cash left over, the rest is divided among the shareholders.
With the value of NuGenerex, does this give shareholders some leverage of possibly getting something out of all of this as the value of NuGenerex is around 560-600 million dollars and the debt of Generex is around 6 million or so actually, if you discount the 400 million promisary note that looks sketchy and possibly the 50 million from Bejing? I am not even taking into account any of the Excellagen or any other things they had going on.
Under Chapter 7 bankruptcy, all assets are sold for cash. That cash is then used to pay off legal and administrative expenses incurred during the bankruptcy process. After that, the cash is distributed first to senior debt-holders and then unsecured debtholders, including owners of bonds. In the extremely rare event that there is still cash left over, the rest is divided among the shareholders.
With the value of NuGenerex, does this give shareholders some leverage of possibly getting something out of all of this as the value of NuGenerex is around 560-600 million dollars and the debt of Generex is around 6 million or so actually, if you discount the 400 million promisary note that looks sketchy and possibly the 50 million from Bejing? I am not even taking into account any of the Excellagen or any other things they had going on.
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