There could be two ways that money enters the coffers. Either by settlement or through court judgement.
The money would be paid to the company. This cash would affect the value of the company. Debt also affects the value of the company. So if money enters the coffers, the stock would react to the news of that. Specifically how that reacts would depend on raw excitement and investor confidence, then further an evaluation of the amount of money vs the amount of debt.
So to speculate and apply your question to this case specifically would be different. Because the stock is no longer trading. The shares have not been canceled, and no 8K was ever published stating this, which is law. And the next step would be probably to be part of some class action law suit.
If some money comes into the coffers, is it sent to shareholders( or bagholders if you wish) automatically on the basis of common shares owned or do you need to be part of some class action???
The bankruptcy judge has the final say on ATP. There are contingent liabilities in place and those will determine the end for this company. BP has lost every key litigation battle. The SEC can direct an action but a Federal judge has the ability to over-ride.
the permanent suspension is due to ATP's lack of compliance with the SEC and required documents, not the negative trading volume. If you had read the two pdfs, you would know that the fist suspension was temporary, But this one is permanent, and all the objections that Meyer had were dismissed...
Sentiment: Strong Sell
ATPAQ was suspended before back in July 2014. Then it was reinstated. Rather routine for any penny stock with negative trading volume. You can call it over but the bankruptcy court has the final say.
It's official, ATPAQ shares have been permanently suspended by the SEC. For all you suckers who listened to Thinking and Fool, my condolences. But when you gamble instead of invest, what can you expect?
The links are posted on investor hub. yahoo wont let me post the link to the SEC pdf file.
Sentiment: Strong Sell
i would guess if there is a bp payout the lawyers a debtors will split and share holders wil get ziltch- just a guess lol
At this price, it's a bargain gamble. Grab at least 10,000 shares......it'll only cost you $1
I am no Obama fan and to be honest he is taking the folks of the USA to hell. Washington, Franklin, Jefferson and the rest of the good men will be turning in their grave to see how corrupt America has become. USA governance has been negligent since the 90's, they have destroyed your wealth and soon I can see the USA getting into more wars. So soon you will be broke and being shot at.
ATP management were incompetent, if you look on the internet there is a data trail that documents their demise, bad planning, bad execution and way too much debt. You sound like a banker that wants a bailout when you make a mistake.
When BP OIL pays the lawsuit we should to get paid as well. Its all we have and and your shares are a drop in the bucket. Never invest more than you can afford to lose.
After Obamanos closed the Gulf of Mexico to more oil drilling with his moratorium he "most effectively put and end to this previously thriving business. Yes, I am a shareholder still and I'm still waiting for the present administration to do the right thing. Reparations to the shareholders!!! He's the clown that put this organization almost out of business
Thanks! Jerry....... I'll just keep my stock then. I have to keep hopes a live!!