Take note !!Here's what can happen when a company runs out of cash and the predators circle.The shareholders,invariably,get the shaft.
"99.9% of companies trading in bankruptcy protection usually wipe out the old common shares. Don't get burned buying this worthless paper. Read this key line in the Globe today saying the stock is more than likely to be worthless:
"Operating under court-appointed receivership since December, Hemosol has previously warned that its stock is likely to be worth little or nothing if a sale occurs. Unnamed sources say a deal could be announced within weeks after Mr. Melnyk filed a bid to receiver PricewaterhouseCoopers."
This line is from the latest news release from Hemosol:
"At this time there is no certainty as to whether the potential acquisition will result in a transaction being completed. If a transaction is completed, there is a reasonable likelihood that any plan filed by Hemosol would result in a substantial dilution of the equity of Hemosol held by the shareholders existing at that time."