Colossus Minerals Inc COLUF

RE:RE:RE:RE:RE:What Happened InTwo Days

[naeden99]

You seem to be missing the fact that you still have your shares.  They are just not worth very much.

 The 200:1 roll back doesn't affect the total value, it just increases the per share value.   New investors put money in at a price equivalent to $0.005/sh.  A 200:1 roll back increases the value back to $1/sh.  Your 450,000 shares were worth $2,250 before the roll back and the same afterwards.  No one took them.

Arias lost all the money he put into Colossus - people can be wrong, he at least put his money where his mouth was and is feeling the same pain as other equity holders.

They actually didn't go bankrupt.  When they missed the interest payment, the debt holders could have placed them into bankruptcy and just taken the company (equity would have gotten nothing).  Instead they negotiated a reorganization that resulted in the issue of 10 bn shares as 'repayment' of their loan (I say repayment in quotes, because it was not worth even a third of the value of the debt).  

The options for equity holders were $0 in bankruptcy or 1.7% of the company in a reorganization.   You were not scammed, you were just an equity holder in a company whose project didn't work out.  That is a risk of owning equity in a company that is developing an asset, particularly if they have a lot of outstanding debt.