SYQUEST Message Board - Msg: 6659750

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Technology Stocks : SYQUEST

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To: dhanam who wrote (7534)	12/2/1998 11:15:00 PM
From: David W. Taylor	Read Replies (1) of 7685

You haven't lost it yet for IRS purposes. It will only become a deductible loss when Syquest officially declares a different kind of bankruptcy, such as Chapter 7. Chapter 11 bankruptcy is a means of getting the courts to allow the business to continue operating under an agreed plan to attempt to "emerge" again as a whole entity. The process takes a while. In reality, the shareholders are probably going to receive absolutely nothing for their shares but the process could drag on for a long time, read years, before a final resolution. Chin up. There is a one in a million chance that you can still get some money back. You should really know this stuff BEFORE you speculate with such a risky stock!

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