Penny Stock News: Molecular Insight Announces Deregistration of Common Stock

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CAMBRIDGE, MA–(Marketwire – May 13, 2011) – Molecular Insight Pharmaceuticals, Inc. (OTCQB: MIPIQ) (PINKSHEETS: MIPIQ), today announced that it has filed Form 15 with the Securities Exchange Commission (the “SEC”) to deregister its common stock and common stock purchase rights, which are attached to and traded with shares of the common stock, under the Securities Exchange Act of 1934, as amended, and to suspend its reporting obligations thereunder.

As previously announced, Molecular Insight filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. The Company’s first amended plan of reorganization was approved by the Bankruptcy Court, under which the Company is required to cease all reporting obligations and become a private company and all of the Company’s currently outstanding shares will be cancelled. Following deregistration, the Company intends to communicate with the public through its website.

Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.

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