Let's not jump to weird conclusions
Okay, one point to put to bed first: the notion that Chapter 11 is horrible or unforeseen. The last PR stated the company's intention to seek Chapter 11 proceedings as their preferred means of implementing restructuring. Not "we may," but "we intend to." This new press release is consistent with that intention. This is nothing new.
Second, the notion that cancellation of existing stock is a new idea. That's always been a possibility under any Chapter 11 proceeding. Again, nothing new. The bright side is that this tool is usually only used if liabilities outweigh assets - the old stock can be cancelled because it has 0 or negative value, thus nothing of value is being lost. New stock is issued, which lets the company satisfy debts and carry on. Tuscany, on the other hand, has assets which outweigh debts. Significant book value exists. As such, cancellation of the stock would represent transfer of value from shareholders to creditors, purely administratively and with no value given. Bankruptcy judges take a dim view of this, and this would leave the company and lenders open to a number of legal actions (especially considering the share trading activity engaged in by these parties during and immediately preceding the first blackout, when insider knowledge was clearly not only possessed by them, but shared between them in the initial stages of the restructure).
Third, a new loan is being not only requested, but granted, so that operations may continue. This is a clear sign that the company is a going concern with positive income generation, otherwise we would be in the middle of Chapter 7, not 11.
So, where does that leave us? With an OTC stock suffering from little liquidity and a hold for the immediate future anyway. We'll be able to trade again in awhile. Any who want to sell, great, take your penny then. But the value can't very well sink from here, we're sitting on an operation which the big lenders have just confirmed is profitable going forward, and I'd be very surprised if they weren't open to outside acquisition offers once the Chapter 11 proceedings are complete. That's why this stock goes on the shelf for me. I'll go tinker with Manitok and their new output projections, and let the Tuscany news releases trickle in as they may. Eventually, my funds will unlock again, probably at a considerable multiple from the current price.