Sphere 3D Corp. (ANY)

[brucethepotter]

I thought they were so far in debt that there would never be a way to pay off the debt and survive, let alone become profitable. The millstone around their neck from buying Overland Storage was going to drag them all to the bottom of the deep blue sea. Guess I was wrong and they aren’t bankrupt like doom and gloom would have us believe.
http://investors.sphere3d.com/phoenix.zhtml?c=108165&p=irol-newsArticle&ID=2333653

“I believe the separation of the DP&A business from Sphere 3D is excellent news for all our respective stakeholders. I am excited that the strategy we initiated last year is materializing into positive outcomes for our investors, customers, employees and suppliers,” said Mr. Kelly.

“The Virtualization and DP&A businesses will become more precise through dedicated tactics that will continue to fortify the continuum of our efforts over the past year and beyond.”
“We are pleased to have reached this agreement to sell the DP&A business," said Peter Tassiopoulos, President of Sphere 3D. "The sale of this business is consistent with the results of our strategic review and completing a transaction to render the company debt free and allows us to better focus on our Converged and Hyperconverged product offerings.”