There was a shit ton of fraud and it looks like things are going to reversed. It's hugely complicated, but if you watch https://www.youtube.com/@ThePPseedsShow (Mon/Wed/Fri nights) they really dig into all the latest details, all the dockets coming out of the Chapter 11, ect.
When we entered Chapter 11 the judge halted trading for anyone holding more than 4.5% of the company, to stop them from trading while the BK was ongoing. A while later he extended that to halt everyone from trading, and that is still ongoing. Shares don't just magically disappear; I still have shares showing in my account from companies that went BK years ago, they don't disappear. It appears that our shares are being held by BNY Mellon during this time. Nobody can buy/sell/trade. The shares were at 7 cents when it was halted, we never got paid that amount, and shorts never got paid either, which is the biggest clue, because if the shares were gone/deleted/worthless then the shorts would have been paid. Nobody has a crystal ball to know how and when this will pan out, but if/when our shares return to trading then shorts are beyond fucked. Speculation is that BBBY shareholders will get some cash (estimated from $15-$25 per share) plus equity in the new company (Teddy). Fingers crossed it goes that way, because I have/had 36k shares.
There was a shit ton of fraud and it looks like things are going to reversed. It's hugely complicated, but if you watch https://www.youtube.com/@ThePPseedsShow (Mon/Wed/Fri nights) they really dig into all the latest details, all the dockets coming out of the Chapter 11, ect.
When we entered Chapter 11 the judge halted trading for anyone holding more than 4.5% of the company, to stop them from trading while the BK was ongoing. A while later he extended that to halt everyone from trading, and that is still ongoing. Shares don't just magically disappear; I still have shares showing in my account from companies that went BK years ago, they don't disappear. It appears that our shares are being held by BNY Mellon during this time. Nobody can buy/sell/trade. The shares were at 7 cents when it was halted, we never got paid that amount, and shorts never got paid either, which is the biggest clue, because if the shares were gone/deleted/worthless then the shorts would have been paid. Nobody has a crystal ball to know how and when this will pan out, but if/when our shares return to trading then shorts are beyond fucked. Speculation is that BBBY shareholders will get some cash (estimated from $15-$25 per share) plus equity in the new company (Teddy). Fingers crossed it goes that way, because I have/had 36k shares.
Wow! Thank you for this info I truly appreciate it fren! I've tried following on plebbit but they did not put it as simply as you, thank you!