I bought some shares of BLOKA on the pink sheets last thursday. I probably should have sold them yesterday when they were up about 50%. Today I see that they have a new ticker "BLOAQ" which I have found means that they have been through bankruptcy.Saw this article this morning:http://www.bloomberg.com/news/2010-09-28/blockbuster-bear-is...Here's an excerpt:The financing requires approval of a disclosure statement explaining the Chapter 11 plan by Jan. 15 and approval of the reorganization plan itself by March 15. The plan would give all the new stock to holders of the $630 million in 11.75 percent senior-secured notes. Holders of the $300 million in 9 percent subordinated notes are to be given nothing. Can someone explain to me what this means? Am I going to get the new shares on the Nasdaq/NYSE or are my shares going to become worthless?
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