Hello Sergio,I have no idea why REDI moved +0.00725 (+152.63%) from
.012. The company is a broke shell (although-the highlight,as far as, I could see "The Company has net operating loss carryforwards as of June 30,1996 of approximately $12,160,420 which may be available, subject to limitations, to offset future taxable income through fiscal year 2011.")
The last filing for the Company was on May 20 1997 for the Q ending (in Mar) Outstanding # shares-56,307,140-lost $20M for the quarter[(.$.45/sh)].
"The Parent's assets consist only of the stock of the Subsidiary. The
liabilities of the Parent consist primarily of $6.9 million of subordinated convertible notes. If the asset sale closes, and if the proceeds of the sale are distributed to creditors as part of the bankruptcy proceedings, then the Company will have no operations or significant assets other than its net operating loss of approximately $12 million (as of June 30, 1996) and its current status as a publicly traded corporation."
"May 27, 1997--Reddi Brake Supply Corp. (Reddi Brake) (NASDAQ/NMS:REDI) Tuesday announced that it has completed the sale of the assets of Reddi Brake Supply Company Inc., its wholly owned operating subsidiary presently in Chapter 11 bankruptcy."
"The buyer, as previously announced, was Express Parts Warehouse Inc., a privately owned company based in Raleigh, N.C. Purchase price was approximately $6 million for all assets, excluding two notes with current face values totaling approximately $1.6 million."
"Immediately following the March 17, 1997 Chapter 11 bankruptcy filing
the Company had cash of approximately $80,000."
The only positives I can find for this company is the $12-M net operating loss to carry forward and the fact that it is listed(and they actually stated this in the 10Q<lol>)...I have no idea why the jump in price,if I was to guess maybe a reverse merger rumor-but can't find any..sorry DD |
