Sphere 3D Corp. (ANY)

[My401K]

I refer to him as PT, others simply call him "the Greek". He is/was shown as the President of Sphere 3D. I'd suggest you google him, or perhaps go to https://thescamologist.wordpress.com/2014/05/07/peter-tassioupolous-part-3/, which pops up early, and read up a little.

As I saw things go down a few years back, and given that CCP had effective control over Overland/Tandberg, they forced a shotgun wedding between O/T, which was struggling to make payroll, with Sphere 3D, which had acquired ownership of some "disruptive" (ha) software (perhaps dubiously). Enter PT. If you've read the link above, you will see how he has a history of taking not-easily-disproved, and not-commonly-understood, technology, and making it look like the next Apple to (uh, naïve) industry outsiders.

If the $45MM buyout had/will happen, he winds up being running the surviving entity, which will be dead broke but presumably debt free. That, of course, assumes that EK & Company actually pay the full price. To me, it is more likely that someone will buy off the senior debt holder, which last month had been Opus Bank. Opus apparently just sold the note to Colbeck, which is in the business of picking carcasses for morsels, and it is very unlikely that they bought the note for anywhere near the face value. This, to me, suggests that Opus didn't reasonably believe that EK would come through and their senior lien(s) would be fully retired. The next junior debt is a fairly big chunk owing to a Spanish bank that is affiliated with CCP. They had once worked their way out of debt to the Spanish bank by moving the debt to (the, uh, very naïve Opus), but have since been drawn back in to make payroll, probably too many times . . .