Let's not forgot, SPNG only has 97mm shares FLOAT (not including what they've bought back so far)
For $2.7mm, plus a nice premium for the common shareholders, SPNG management can take this thing private.
Better yet, Lafferty can easily afford to buy all of the float back, call in the physical stock certs, structure a deal for a new company to do a share for share buyout of those certs, and the naked shorts are done.
This thing could fly.