ROTI - Harvest Restaurant Group Inc Message Board

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Microcap & Penny Stocks : ROTI - Harvest Restaurant Group Inc

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To: TScott who wrote (1692)	6/16/2000 3:25:00 PM
From: rrufff	Read Replies (1) of 1702

I don't think they were defrauded, at least not as you stated. They did sell substantially all the assets. I didn't review the filings in detail but, from memory, they were out of business. They sold everything to pretty much clean out the debt. No case for fraud on that basis. It's like you have a restaurant business. You only make money on Sunday when you're closed. Finally you run out of dough and owe a pile. So along comes someone who says I'll buy it from you and pay your debts. You go "ok". All you're left with is a shell corporate entity. If you're a private company, it's no big deal. Just means file some tax returns and state papers and go under. If you're a public entity and the timing is right, you get some residual value as I pointed out in my previous post.

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