Just filed!!
Boston Chicken, Inc. (the "Company") has been advised that effective as of
the close of business on October 7, 1999, the Company's common stock is no
longer eligible to be traded on the OTC Bulletin Board ("OTCBB"). The Company
does not meet the OTCBB's Eligibility Requirement, which permits only those
companies that report their current financial information to the Securities and
Exchange Commission to be traded on the OTCBB. The Company is not current in
filing its periodic reports, including financial information, under the
Securities Exchange Act of 1934, as amended. The Company's common stock is
currently quoted on the National Quotation Bureau, LLC ("NQB") "Pink Sheets" and
the Company's convertible subordinated debt securities are currently quoted on
the NQB "Yellow Sheets."
The Company filed a voluntary petition for protection under Chapter 11 of
the U.S. Bankruptcy Code in the U.S. Bankruptcy Court, District of Arizona, on
October 5, 1998. As previously disclosed, holders of the Company's equity
securities will retain no value under a Chapter 11 reorganization plan and the
value, if any, retained by holders of the Company's debt securities under a plan
of reorganization will be the result of negotiations among the Company and its
creditors. |
