Sphere 3D Corp (ANY)

[My401K]

I don't see PT letting them go quietly into that good night, but I don't disagree with what you are saying.

Mr. Barnum always has something up his sleeve.

A couple of points:

1) The creditors have nothing to gain by forcing bankruptcy. There aren't enough assets to cover ANYs costs of bankruptcy alone, much less make distributions to creditors. I think Freidheim said as much when he converted the bank debt to stock. There was no point in being a creditor (although in his case especially, a default appears worse than an investment loss). Prolonging hope is more appealing than forcing a confrontation of reality.

2) HVE was on a doomed trajectory when acquired by ANY. Nevertheless, they manipulated that negative into a positive, paying an artificially high "price" (phony stock swap) to have the (artificial) asset on the books. It was enough to keep ANY appearing as if it were growing, and gave PT & company pump fodder for a couple of years. It wouldn't surprise me that PT would rinse and repeat. He may find a company that needs to be able to show growth in revenue and assets to stave of their own day of reckoning, even if those come with debt and are in their own death spiral. Remember when the telecom bubble burst? They were pumping up their balance sheets with "capacity swaps", trading moonbeams for fools gold. I wouldn't rule that out.

I think the sleaze factor could be the show-stopper, but hey, there's a sucker born every minute. Not everyone does a criminal background check, and not every crime shows up - just the ones that were successfully prosecuted.

When I look in my crystal ball, I see PT merging ANY with another doomed (but pump-able) company, on the condition that he become the CEO. I don't think his ego would tolerate a pink stain on his tailored Italian suits.