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Arcadia Resources, Inc. Message Board

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  • scoobydoodoo11@ymail.com scoobydoodoo11 May 4, 2012 3:29 PM Flag

    Arcadia Services Posted on FB

    Okay Cats and Kittens,

    School is in session, so pay attention.

    All you longs own stock in Arcadia Resources, Inc. (ARI)

    The stock that was transferred to the new company, Arcadia Holdings II (AHI), was the stock in Arcadia Services, Inc (ASI) (and its subs), previously a wholly owned subsidiary of ARI.

    AHI, a private company, owns 100% of ASI, because the stock in ASI was pledged as collateral to Comerica. Comerica sold that collateral interest to AHI, AHI foreclosed and took 100% of ASI. Comerica's now reduced credit line with ASI is still in place.

    ARI, which the longs own a piece of, OWNS the following:

    $1,000,000 in assets
    No operating units, i.e. no source of revenue/cash flow

    ARI, which the longs own a piece of, OWES the following:

    $33 million in unsecured debt.

    Now, I know this is a remedial class, so I'll make it simple for you all

    1,000,000 minus 33,000,000 = a whole lot of worthless stock!

    Now where's my Scooby Snack?

 
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