Sphere 3D Corp. (ANY)

[Hugodrax]

For 30 cents you get one share AND a one year 40 cent warrant AND a 55 cent 5 year warrant.

I've honestly never seen a deal with 200% WARRANT COVERAGE.

LOL!

I'm guessing "MF Ventures" is Victor MacFarlane. I wonder who else got in on this deal.

Basically you can subscribe, dump your stock at potentially a 20% instant profit (36 cents vs 30 cent cost) then ride the upside on 2X the shares for FREE.

Hah. What happens in 3 months when they need (IMHO) another $5M to meet payroll?

On the surface, my speculation is what we are seeing here is EK and his cronies (eg MacFarlane) wiping out shareholders INCLUDING Cyrus who just got diluted massively on their equity - but they probably only care about their debt at this point.

Of course EK and PT can feast on RSUs to keep their dilution down.

IMHO we are now officially almost in toxic death spiral financing land.

Also note the Cyrus bridge has to be paid back almost $200K per month so that adds $600K to the quarterly burn right there.

The fully diluted share count is well over 100M now with only shares and warrants.

What a slap in the face to long time shareholders.

They should have done this as a rights offering to allow every current holder a chance to participate. Heck I would have done this deal - I'd dump the stock right away and start selling call options knowing I was hedged with warrants.

Now you have a nice fat reverse split to look forward to as well.

But don't worry. They have they amazing news of a "marketing campaign".

Wow!