Albany, New York (09/26/2014) – Vision Industries Corp (OTCMKTS:VIIC) filed for Chapter 11 bankruptcy, and that is the reason the stock is in the red today. Although the voluntary bankruptcy filing does not mean the company will go out of business soon, but it means that it will embark on a serious debt restructuring effort. However, there are concerns whether such efforts will end in success. The company already has a challenge in raising capital especially through equity issuance. It was recently stopped on its tracks by lack of a quorum when it tried to raise the number of its authorized share. Had Vision Industries Corp (OTCMKTS:VIIC) got its way with the attempt at a raise, its authorized shares would have move to 10 billion from 500 million. The company has already performance massive dilution of its stock. A case in point was the period between July 7 and August 7 when the company issued 55 million common stock shares.
All is not well at RadioShack Corporation (NYSE:RSH). All has not been well at the $104 million consumer electronics retailer in the recent times to be frank. However, the management has been making frantic efforts to seek funding to keep the company from sinking into bankruptcy. The latest case involved talks with a hedge fund and an investment bank in which about $585 million was sought. Several days have gone by without news in that line though. However, the recent efforts to negotiate with vendors for better terms appear to have ignited hope among investors that the struggling retailer could find help for its woes, at least, to keep it out of bankruptcy. That may explain the more than 34% gain in the stock early Friday. Shares of RadioShack Corporation (NYSE:RSH) are down almost 60% so far this year.
Digital Ally, Inc. (NASDAQ:DGLY) announced early today that it received an order worth about $200,000 from a U.S. military unit. The order involves the supply of its video evidence gathering systems. The company expects follow-on orders. Shares of Digital Ally, Inc. (NASDAQ:DGLY) edged up sharply around 22% following the order report. The $50 million market capped company provides a range of video and imaging storage systems that have security, law enforcement and commercial applications.