Cow GETS all the Protection of the Law...DEMANDS MORE!
Wants it to just work for him.
As noted and accepted by parties with actual names and reputations and a disinterest but responsibility, and documented, and if nothing else passes the smell test as reasonable - it ain't that hard to see what happened....
Not that difficult to grasp....
And it ain't the things Jay claims (based on his reading and belief in some "bocca lawyer" - and certainly doesn't require any more discovery or "fill in the blanks as I think that indicates..." type logic to get to.
So- from what he's been yelping about - his plan to make a killing in a "short squeeze" was just a bad investment. (His idea of starting one now totally absurd ...even if there was open shorts (who would want to cash out at this valueless stock rather than pay the margin to maintain it), but can't be forced to ever close their position (in this case a position in stock that there are oodles of sitting in coffers that almost anyone would take anything for just to get off their report anyway), etc., etc., A short squeeze requires the short position to be the wrong decision.
If you go long and the stock goes up you win...good decision. Down, you lose, bad decision. If you go short and it goes up, bad decision. Down, good decision. Which fits this case?
The reason the stock goes up or down is unimportant...(bad business, bad management, fraudulent management, cooked books, theft by others, unfair trade against it, malfeasance of ----whatever...), the owners take the responsibility for all of that.
If the company is successful or not is important.
The company was not successful.
But at the end of the day he gets the protection of the law...FULLY:
He was a stockholder in a company that filed Bankruptcy. Stockholders are protected - and were in this case - to ONLY LOSING AS MUCH AS THEY HAD INVESTED. Yup...you don't have to pay for all the misdeeds, failed obligations, supplier/creditor losses of your company. He gets off scott free! That is what the company you invested in (and according to you, some of whose stock you controlled when it happened) did.
If there is any value to the stock of the company (and stop right there...NO there isn't (and I guess you knew this when planning on a short squeeze based on your assumption of large NSS demons at play - and instead maybe bought a forever/wherever worthless counterfeit)....all that value would first go to all those who are letting you off the hook for your business failures and costs. (In a better view...it actually isn't yours to sell. it is forfeited to those who let you off the hook).
Just consider: If this was (generally)something other than a C corp (say just you and friends Metter & Moskie and Pilond and PIKE)....the owners would be entirely responsible for all the breaches and obligations - heck even the illegal acts ----of the organization.
You should be very thankful....I mean you could be responsible to send Unkie Norm his outstanding payments for the last few car loads he bought.
Sure - seek recovery from criminals (for the loss they caused)....but get off this idea that any owner/investor in SPNG would have any value coming from being an owner of the company.
AI
