CARD Following Through On Thursday News


PubliCARD (CARD:PK) is following through today on the news yesterday that the company is emerging from bankruptcy. The company will now be called Chazak Value Corp. and will be focusing on acquisition of privately held businesses. Under the bankruptcy plan, The 500 Group, LLC, a company controlled by PubliCARD's Chief Executive Officer, Joseph E. Sarachek is receiving 90% of the Reorganized Debtor's common stock and all outstanding shares of PubliCARD common stock and preferred stock were cancelled. Former holders of PubliCARD's common will receive five percent of the reorganized debtor's stock of 256,676 common shares and former holders of PubliCARD's preferred stock will also receive an aggregate of five percent of the Reorganized Debtor's stock of256,676 common shares.

1000 Penny Stocks