"We are currently winding up the Company’s business and distributing the proceeds of the Asset Sale to our creditors. We expect that the
Company’s bankruptcy case will continue to be administered under Chapter 11 of the Bankruptcy Code for a limited period of time and
thereafter will be converted to a liquidation under Chapter 7 of the Bankruptcy Code. At that point our corporate existence will be terminated
and our shares of common and preferred stock will be cancelled."
After holding this stock for the last 2 years and buying more late last week based on the Netflix announcement I am disturbed and appalled that this stock is still trading. Any reason not to take the small gain on last week's purchase ASAP and eat a big loss on my long term holding?
I own 29,000 shares of this stock at avg cost of about .20. I would love nothing more than to see this stock rebound but it doesn't look like it will be given the chance based on the 10k statement.
I see that presenting credible evidence to support an opinion is a waste of time as this board seems to thrive on speculation. Sorry for trying to contribute something meaningful.
I probably did nothing more than hurt my chances of finally unloading this stock (at a loss) at the best price possible today.
Learn to read.
See where it says, "we expect to". Does not mean that they will go that route. This is by the book boilerplate stuff as Blockbuser "Inc" and I emphasize "Inc" is in Chapter 11.
What do you expect it to say that " we expect to come out of Bankruptcy cash flow positive and shareholders preserved".
They are "currently" in bankruptcy!
According to this article from 8/2010 Icahn's stake in Blockbuster was down to 675k shares. At today's closing price of .06 that amounts to about 40k. Assuming he still owns the 675k shares I doubt he's too worried about what happens to Blockbuster from this point forward.
Do you still believe a word the company says?
They always said no BK and guess what? The company went BK
Keyes said no way BBI was going to be delisted and guess what? BBI went to the pinks after a ridiculous shareholders meeting.
Icahn said Blockbuster was his worst investment and guess what? He still owns shares, bonds and cried like a baby fearing not going to bid in the auction.
And the LIES go on and on with this company...