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"Sure there is value in EMMS, its just not in the common."falseThe value of the common is not negative since shareholders are not liable for the company's debt.The value of the common is not zero since there is the possibility, however remote, of a turnaround.I would buy all the common for one cent right now, so the common has value.
And when all is said and done, you would be down 1 cent. Of course, you would have the joy of owning all of that common, which would count for something.