Common go up? How? As of 05/27 there will be no more common trading. The company is moving to delist and cancel the share registration. At that point you won't be able to buy or sell shares unless via a private transaction. Then you have to wait three years or more to see what distribution ,if any will be paid. Swisher has gone out of their way via assorted filings to say don't expect much. Right now they have 25 million in cash listed as of 12/31That figure goes down from there. You still have three years of litigation costs to pay for plus any lawsuit settlements that could arise. Not to mention all of the outstanding pension costs. Plus just the cost of running the day to day business for three years. That 25 million wont be close to what will be left. Zero is not out of the question as the company has already stated. Oh and the company also said there was a risk of "clawback" demands from the courts as well if any future costs exceed what is left. Not a very pretty picture at all
Read this carefully. If you still own the common it matters plenty.
SWISHER HYGIENE INC.’S BOARD OF DIRECTORS APPROVES MAY 27, 2016 FILING OF CERTIFICATE OF DISSOLUTION
Company Shares to Cease Trading on OTCQB and Close Stock Transfer Book Upon Filing
FORT LAUDERDALE, FL – April 14, 2016 – Swisher Hygiene Inc. (the “Company”) (OTCQB: SWSH) announced today that its Board of Directors unanimously approved the filing of a Certificate of Dissolution (the “Certificate”) on Friday, May 27, 2016 (the “Final Record Date”). The Certificate will be filed with the Secretary of State of the State of Delaware on the Final Record Date. The filing of the Certificate will be made pursuant to a Plan of Dissolution approved by stockholders at the Company’s annual meeting held on October 15, 2015.
The Company has notified OTCQB that the Certificate will be filed on the Final Record Date and that as of 6:00 pm Eastern Time on the Final Record Date, the Company’s shares will cease to be traded on OTCQB. Also after the Final Record Date, the Company’s stock transfer books will be closed and transfers of the shares of the Company’s common stock will no longer be recorded. The Company also intends to seek relief from the Securities and Exchange Commission (the “SEC”) to suspend certain of its reporting obligations under the Securities Exchange Act of 1934, as amended. If the SEC grants such relief, the Company intends to report any further material events relating to the liquidation and dissolution on Form 8-K.
Pursuant to the Plan of Dissolution, and under Delaware law, the dissolution of the Company shall be effective as of 6:00 pm Eastern Time on the Final Record Date. Under Delaware law, the dissolved corporation is continued for three (3) years (unless extended by direction of the Court of Chancery) to enable the company’s directors to wind up the affairs of the corporation, including the discharge of the Company’s liabilities and to distribute to the stockholders remaining assets, if any. No assurances can be made as to if or when any such distribution will be made, or the amount of any such distribution, if one is made. Any distribution, however, would be made to the Company’s stockholders of record as of the Final Record Date.