Recapitalization question for Pancho2I picked up some of these "mortally wounded" shares when they were in the pennies. Sometimes I get lucky with flaming dumpsters (if I wear silicon gloves). The odds are against you with all these market guys feeding off "the average joes". I try not to be one of them! LOL
So the poor guys who paid good money for their shares will never see anything (or much) but I'm wondering what someone who tossed in $1000 at 10 cents (10K shares) would end up with? ;-)
"Ridgeback" huh? Kinda surprised they didn't call the new company "Brokeback"! That would be more appropriate in the situation! LMAO!!!!
For anyone holding this stuff, don't hand over the "worthless shares" to your brokers, they are waiting for them! LOL Yeah, they are probably worthless as a small pile but combine a bunch of small piles and you have a big "pile". A big "winnie"!!! LOL
Pancho2 wrote: The Recapitalization will result in the current holders of Common Shares holding approximately 2.25% of the estimated 100,000,000 New Common Shares of the Company anticipated to be outstanding after giving effect to the Recapitalization, plus approximately 7,750,000 Series 2 Warrants. Additionally, as a result of the approximately 88.29:1 (approximately 92:1 on a fully-diluted basis) Common Share Consolidation forming part of the Arrangement and the rounding down of fractional Common Shares and New Common Shares pursuant to the Arrangement, an existing holder of 89 (92 on a fully-diluted basis) or fewer Common Shares will no longer hold Common Shares, or any New Common Shares or New Series 2 Warrants, following completion of the Recapitalization and will not receive any consideration therefor.