Sphere 3D Corp. (ANY)

[Hugodrax]

I think it's a mistake to assume a binary scenario (eg either a smoking hole in the ground or a massive home run).

There is a pretty wide chasm between those two outcomes.

It may just turn out that the "Glassware" business is a decent little niche business that would be lucky to do a few $million per year, coupled with a massive money losing legacy storage business that has been shrinking for a decade and can't cut costs enough ahead of the revenue declines.

That is not a "scam" scenario. That is just a business outcome that I think happens to reflect the most likely path forward over the next year or so.

IMHO the company needs $20M+ or so to make it through the next 12 months.