Ann: Phosphagenics Arbitration Award Issued, page-109

Existing holders are now carrying an essentially worthless stock. I can't see how the company can avoid bankruptcy and a consequent sale of all assets at an enormous discount. It would take a miracle for anyone to realize a penny for whatever the size of their holding. All existing share holdings will have no value whatever on the other side of a bankruptcy proceeding. Even under a CR scenario, a CR at a tenth of a cent per share, even if they could get that much would dilute existing holdings down to homeopathic levels.

This is the end of the POH saga, ladies and gents.