Read what they say in their most recent SEC filing:
"No assurance can be given as to the value, if any, that may be ascribed to the Company’s common stock as a result of the Chapter 11 process. The Company cannot predict what the ultimate value of its common stock may be or whether the holders of such common stock will receive any distribution in the Company’s reorganization; however, it is likely that such common stock will have very little or no value given the amount of the Company’s liabilities compared to the Company’s assets."
In the 10 months since the company filed for bankruptcy, shareholders' equity has gone from negative $53.5 million to negative $59.8 million. Therefore, the deficit has increased by another $6.5 million over those 10 months.
I see no reason to believe that the common stock will valued at anything above the "very little to no value" that the company itself says is likely.
bsdetector, the MOR for April was filed today. It indicated shareholder equity at negative $60.36M, so you can update your figures. Perhaps you can give us a pre-bankruptcy figure, say the 10 months prior to the filing as a comparison.
Interestingly, today's filing shows the POST-petition liabilities are $3.46M, so they haven't exactly been burning through cash.
Finally, inclusive of today's filing, we have figures for 9 1/2 months. While it's true that it's now been 10 months since the b/k filing, your figure was actually for 8 1/2 months. I'm surprised you didn't note that as it makes things look worse overall. That said, it is often the case in b/k that common shareholders are left with little or nothing as you rightly point out.
Larry, where you been, I called you out under your nowaynohow alias and you show up with the old detectorofbs alias.
man you dont use that one very often do you, must have searched for a while to find it.
FYI for anyone reading this, Larry Brubaker has many alias's. he wont bash shareholders with the noway one because many posters have begun to like what he has to say in the past year.
rest assure, Larry, noway, detectorofbs, etc, dont care about you or your money. his post prove it and his 24/7 stalking of this board tell you everything about him.