"i would like them to liquidate, fire sale, sell all at half the price, the each shareholder would receive 25c per share
what am i missing here?"
Rebel...
If you have $1 and borrow another $1, then you have gross assets of $2 and net assets of $1 still. If you fire sale at half price your gross assets fall from $2 to $1. You pay off your debt of $1, and have nothing left over!
