It depends on just how many shares will be forfeited. From what I have seen, it is entirely feasible that the company repurchased all the shares they claimed on the last 10Q. This was the subject of one of my submissions to the Court, where I discussed SpongeTech's Share Repurchase, and outlined how the data supported the claim. Yet, those shares still have not been returned to the Transfer Agent. As you may recall, the announced repurchase was for over 500 million shares.
I take issue, though, with Steven being named as the defendant who would have benefited by the sell of these shares. Since August 2008, shares that were accumulated in this method were retired by the company. Therefore, the intended beneficiaries would have been the company and its shareholders.
I will be notifying the courts of my opinion as to the status of shareholders' claims to these shares early next week.
