Archive for September, 2010

TPTX Board approves Plan of Dissolution, what happens to my common shares?

I unfortunately own some common shares of TPTX and was wondering. This is from a press release. Its not a bankruptcy so what happens to my shares? Thanks!! http://finance.yahoo.com/q/h?s=TPTX LA JOLLA, Calif., May 29 /PRNewswire/ — TorreyPines Therapeutics, Inc. (Nasdaq: TPTX – News) today announced that its Board of Directors has determined, after consideration of [...]

In bookkeeping, double entry accrual method, what do you do when…?

….a temporary asset that was debitted as an asset such as office supplies, runs out? How do you keep your books straight on the credit column if the asset is now gone and is not really part of your assets anymore? Do you credit the amount $$$ of office supplies you initially had entered for [...]

Is it possible to remove a second mortgage lien after a bankruptcy?

In 2001 we filed for bankruptcy, and put our house on it as well, and we had a second mortgage too, and of course, we put them on the bankruptcy as well. Well, the first mortgage talked us into taking the house back, but after the bankruptcy was discharged, we never heard from "The Money [...]


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