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BlueScout Files for Bankruptcy (Catch The Wind)

Due to the cost of ongoing legal battles, BlueScout Technologies (SCT) (formerly known as Catch the Wind (CTW) has filed for Bankruptcy. I will try to learn what this means for shareholders as this matter progresses and will post the results below: If you know what happens to shareholders when a company files for bankruptcy please comment below.

I have talked with a former executive of SCT regarding the bankruptcy and asked what happens to shareholder's investments. Basically, what I recall is that your money is more or less... gone. There was mention of the slight possibility of small cheques being handed out to shareholders in some form of compensatory manner, however this is highly unlikely from what I recall. If any shareholders have received any cheques from the company I would love to hear from you, however the smaller your share holdings, the less likely you are to see anything is what I understood as well. Again, all of this was just possibilities but more than likely not probable.

News Release: http://www.bloomberg.com/article/2013-01-24/aL6xmdYp2bPc.html

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