GREY:COSLF - Post by User
Post by
JoeMesson Apr 26, 2019 7:07pm
118 Views
Post# 29677524
The problem is.....
The problem is.....It looks to me like they are trying to sell this company, however due to the debt it will most likely be liquidated and the assets sold at an asset sale. Given the large debt and the short time left on a number of key patents this will likely not equal the debt.
Regardless of whether the company is sold or the assets sold, the order of payments will be:
1. Payroll: Evan will get his pay.
2. Creditors
3. Preferred stock: most investors will have preferred stock, with a liquidation preference, and so might Evan P.
4. Common Stock: anything left after the above will go to common stock.
Most likely zero will go to common stock.
It is sad to see this company go, but the tech will live on, even though a great deal of it will be off patent quite soon.