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Steve, when a stock (company) loses 40+ million dollars over a two year period, and when it is trading at $1.63 per share, down in a twelve month period from $13, it is not very difficult to understand how INVESTORS may talk of possible bankruptcy. It is not a "thrown around term'" but in some circumstances becomes one of several alternatives for INVESTORS to consider. Believe me, if you wait for documentation from "a reliable source," you are going to be left with what Little Johnnie shot at. If you subscribe to Bloomberg News Services, you can access the 39 second audio. It was conducted by a Japanese reporter in response to the Bandai announcement, which makes perfectly good sense, as Bandai is a Tokyo-based corporation. A second source of the same comment can be quoted from technology analyst Gene Ramirez from Dallas-based Southwest Securities, Inc.: "Before today's announcement, investors were concerned that 7th Level might have to file for bankruptcy protection by year-end." |
