Thursday, September 23, 2004

WSJ.com - Commerce One's Shareholders May Get No Bankruptcy Payout

WSJ.com - Commerce One's Shareholders May Get No Bankruptcy Payout "Commerce One Inc. said Thursday that it doesn't expect to earn sufficient proceeds to meet all of its debts and obligations, nor will shareholders receive any amounts if the company files for either Chapter 11 or Chapter 7 bankruptcy protection.
According to a filing Tuesday with the Securities and Exchange Commission, Commerce One said it expects to eventually wind down its business and may file for bankruptcy protection as a result of unsuccessful recent efforts to raise additional equity or debt financing.
"We anticipate that we will eventually wind down our business and may file for bankruptcy under Chapter 11 or 7 of the United States Bankruptcy Code," the company said in the filing."

I guessed they missed Don Tapscott's latest predictions... CMRC is now trading at $.26, down from an adjusted peak north of $1,000/share.
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