Quote from: Lohoris on April 06, 2014, 10:43:06 AM

Quote from: freedomno1 on April 06, 2014, 09:07:40 AM

Well a Q rating means that if someone takes over the reigns they could easily erase the old shares structure so it is a risk
https://www.sec.gov/answers/qadded.htm

When a company is involved in bankruptcy proceedings, the letter "Q" is added to the end of the company's stock ticker symbol. In most cases, when a company emerges from bankruptcy, the reorganization plan will cancel the existing equity stock and the old shares will be worthless. Given that risk, before purchasing stock in a bankrupt company, investors should read the company's proposed plan of reorganization. For more information about the impact of bankruptcy proceedings on securities, please read our online publication, Corporate Bankruptcy.

I don't get it.
Basically they say "we try to rebuild the company and maybe we manage do to it, but even if we are successful, you get nothing".
Umh... why?
I fully understand not giving money back if they are unable to recover, and I definitely understand that creditors should be paid first, but what's the point of "just erasing old shares" instead of "they are last in line"?

Sorry signed out there Lohi

The investopedia explanation has it mostly correct in terms of liquidation and how that should work aka the priority scale Bondholders Preferred Shares - Common Shares etc.
What I meant is that if the company changes management as was mentioned in Danny's last post and decides to reorganize the company, their is a possibility that new ownership does not acknowledge the previous shareholder capital without a proposed plan for reorganization that includes the shareholders of current neobee shares.
Since Neo Bee Shares are non-voting to my knowledge the shares held have no real power in the decision making process and why Havelock gave it the Q rating in my opinion.
Until Neobee gives out a proposed plan of reorganization we are in the dark on what will happen to the shares now.

We do know if we trust Danny's post that they are not liquid presently and they are looking for new management, and who will write the new contract, aka some agency.
How shares will be handled is uncertain until we see the final copy though.

OP
The whole process will be completed and handled through an agency that specializes in these matters, once the final details are completed, the agency details will be made available to interested parties who wish to purchase 100% of my equity in LMB Subsidiaries Ltd thus taking full control of all subsidiaries. I shall also be providing the new owner full rights over the Bitcoin debts currently owed by BitFunder/WeExchange as I know people are working on a solution to recovering those debts for everyone that has funds stuck there. This process will also write off all directors loans I have made to the company and I shall not receive any financial compensation through this sale process.

http://www.investopedia.com/terms/l/liquidation.asp
Creditors liquidate assets to try and get as much of the money owed to them as possible. They have first priority to whatever is sold off. After creditors are paid, the shareholders get whatever is left with preferred shareholders having preference over common shareholders.

Since Danny is completely liquidating and moving ownership to someone else, the controlling stake will belong to the new owner.

OP
I am working towards having this entire process completed within a short period of time to enable the business to recover, to ensure that those invested do not lose out following this process.

General Bankruptcy Article
http://www.investopedia.com/articles/01/120501.asp