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Arcadia Resources, Inc. Message Board

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  • stingjms stingjms May 4, 2012 4:35 PM Flag

    Arcadia's FB Reply

    I am so f'ing mad about this. This is one of the biggest scam schemes I have ever heard of.

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    • scoobydoodoo11 May 4, 2012 4:42 PM Flag

      You bought stock in a company that (depending on when you bought) had over $40 million in debt and no obvious way to pay it off! Where's the scam? The look at the priority of claims -

      Secured creditors (Comerica/HD Smith)
      Unsecured creditors (Jana/Vicis)
      Equity (half a dozen longs on a message board amongst them)

      Pretty clear there was nothing left for equity.

      Plus, management told you the stock was worthless!

      Now where's my Scooby snack?

      • 2 Replies to scoobydoodoo11
      • I bought well before the company began saying the stock had no value. I had no idea they had intentions of doing what they ended up doing, I figured they had to legally say that in case they did end up getting called on one of their debts and the company had to declare bankruptcy. I had no idea they could simply move all of their valuable assets over to another company and leave almost all of the debt behind. Are Vicis and Jana not going to legally pursue this or are they in on this too and have some of this unknown ASI stock? There are plenty of companies that operate their businesses with large amounts of debt. That debt is gradually paid off over time, and the terms of it can be re-negotiated at any point.

      • Yes they told it is worthless at the moment but never said to sell..

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