Monday, December 07, 2020 12:16:47 PM
Sounds messy. I have no faith this mgmt and BoD knows what they are doing anyway. SPIN address basically a tiny little warehouse nowadays.
All the assets of SPIN are basically gone. So other than tax benefits, SPIN has nothing to bring to the table outside of a nice clean shell. Any existing shareholders left will just be screwed further but at least have a chance to get some money back ... maybe .... if by chance SPIN merges with a legit company. I'm sure mgmt though will get certain inducements to compel their vote for any merger and not be as screwed as everyone else.
Amazes me CFO still getting paid. Should have been kicked to the curb years ago and basically drains the company of any incoming settlements.
Amigo Mike
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