Sep. 14 at 9:44 PM
$YRIV Our potential salvation lies with the Cayman Islands-based creditors holding rights to 12.5 million shares (an early YRIV investor who was defrauded, just like us) who are currently locked in.
The scenario:
YRIV completes its bankruptcy process and cleans up the shell company's record; then, companies looking to go public quickly and cheaply buy it at a discount. A clean shell usually costs between
$150,000 and
$300,000, whereas YRIV costs
$58,000 plus liquidation expenses...
A reverse merger entails dilution, but having major investors trapped acts as a lifeline for us, since they will want to recoup their money—and making a profit would be even better.
You can do your own research and draw your own conclusions; from my perspective, the key data points to watch are:
When the bankruptcy process concludes and the auction takes place
Who is interested
What the Cayman creditors do with their shares
P.S. Sorry if there are any errors in my writing; I'm using a translator.
