As I previously posted, I followed a publicly traded corporate Chapter 11 bankruptcy for over 10 years and know what to expect. A Chapter 7 publicly traded corporate bankruptcy is unusual, especially an involuntary one and is new to me. So, I am just posting info on Chapter 7 proceedings in hopes that we stockholders can see what could/should happen, since we are the ones who actually own the company even if (unless someone has money to throw away for a lawyer) we don’t have any direct input. The court process will probably drag out into next year. My take is that the longer the process, the better it is for us. It would mean that the debtors can’t just do a quick “smash and grab” leaving behind worthless tradable GNBT and NGIO/NUGX stock. There would have to be an orderly closing down of the companies and in doing so, hopefully the true value, our value, will be exposed and maybe even a reprieve for the companies.
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