Sphere 3D Corp. (ANY)

[Blackwatch]

I read the 6-K, as much as I could digest as it is legalese gobbledygook. Here's my 2-cent summary: Sphere3D has broken Opus loan covenants (they won't tell you which ones) and have been extended until 10/31/17 to resolve, and if not that may be it, bankruptcy. Opus gets a lame $25,000 fee upfront. Probably used to pay salary of Opus VP who signed 6-K, Andrew Jarvis... who by the way is listed in LinkedIn as ... "Bankruptcy and workout/special assets specialist... Specialties: Restructuring, distressed asset and bankruptcy...".

Well, I think that pretty much sums up what Hugodrax is saying, who BTW has been spot on for the 1 1/2 years I've been tracking this ongoing fraud. I mean just look at the PR release describing what Sphere3D does, "The virtualization technology provider posted revenue of $19.4 million in the period."

BS! They sell cheap storage and tape libraries! Factor out the HVE/UCX acquisition and I'd be surprised if they have $100K in virtualization revenue in 1H 2017.

1H 2017 numbers:
TOTAL REV - $41.2M
DISK REV - $26.5M (They obscure crappy virtualization REV here)
TAPE REV - $10.0M
SERVICE REV - $ 4.6M (To be fair likely some virtualization REV here)
VIRTUAL ??? - $ 0.1M ???